Generally, a Canadian dollar coin, also known as a Loonie, is worth its face value – one Canadian dollar . However, the actual worth of a Loonie can vary depending on several factors:
- Exchange rate: If you are converting Canadian dollars to another currency, like the US dollar, the exchange rate will determine the equivalent value. For example, 1 CAD is currently worth approximately 0.72 USD.
- Rarity and Condition: Certain Canadian dollar coins, particularly older or rarer issues, can be worth significantly more than their face value to collectors.
– Some valuable Canadian dollar coins, like the 1948 George V specimen Canadian dollar coin, have sold for over $17,000.
– Even some early Loonies, like the first issue from 1987, can be worth up to $30 in mint condition.
- Silver Content: Older Canadian dollar coins minted between 1935 and 1967 contain silver. The melt value of the silver in these coins can be higher than the face value, depending on the current price of silver.
- Collector Demand: The value of a coin, particularly a rare one, is also influenced by collector demand.
In short, while a Canadian dollar coin is typically worth its face value, some rare or older coins can be worth much more to collectors, while the exchange rate will determine the value when converting to other currencies.
