The value of Canadian silver coins is primarily determined by two factors:
- Silver content (Melt value): The intrinsic value of the silver contained in the coin, based on the current market price of silver.
- Numismatic value: An additional premium assigned to the coin based on factors such as its rarity, historical significance, condition (grade), and collector demand.
- Circulation coins (pre-1968)
- Many Canadian dimes, quarters, half-dollars, and dollars minted before mid-1968 contain at least some silver.
- Coins minted between 1920 and 1967 typically contain 80% silver.
- Dimes minted between 1967 and 1968 contain 50% silver.
- Quarters minted between 1967 and 1968 contain 50% silver.
- These coins are often valued based on their silver content, also known as their melt value, which fluctuates with the market price of silver.
- For example, an 80% silver quarter (1920-1967) has an Approximate Silver Weight (ASW) of 0.15 troy ounces and a melt value of $5.71 USD based on current silver prices (August 14, 2025). Similarly, an 80% silver half dollar (1920-1967) with an ASW of 0.3 troy ounces has a melt value of $11.43 USD. A 92.5% silver dime (1858-1919) has an ASW of 0.0691 troy ounces and a melt value of $2.63 USD.
- Silver dollars (1935-1984)
- Canadian silver dollars minted between 1935 and 1967 are made of 80% silver and 20% copper.
- Some notable examples include the 1935 “Voyageur”, 1948 “Maple Leaf”, 1958 “Totem Pole”, and 1965 “Winston Churchill” designs, with the 1948 Maple Leaf being particularly rare and valuable.
- Prices for these coins vary significantly based on their year and condition, ranging from as low as $27.00 for common circulated pieces to tens of thousands of dollars for rare, high-grade examples. For example, a 1963 $1 MS can be valued between $27 and $390.
- Commemorative coins
- The Royal Canadian Mint issues a variety of commemorative coins, including those made of silver. For example, the [2011 Canada Silver Maple Leaf Commemorative Coin] with a $20 denomination made of 99.99% pure silver can be purchased for $34.95 USD . The [1998 Canada Sterling Silver Dollar] commemorating the RCMP 125th Anniversary is valued around $38.53 USD.
- The value of commemorative coins is often driven by factors beyond their melt value, including mintage figures, design popularity, and whether they are part of a special series.
- [
2011 Canada Silver Maple Leaf Commemorative Coin $34.95 $49.95]
- [
1998 Canada Sterling Silver $1 Dollar Proof RCMP $43.29 5.0 (1)]
- Silver Maple Leaf coins
- These are a popular series of silver bullion coins produced by the Royal Canadian Mint.
- Their value is heavily influenced by the spot price of silver, but also by market demand, dealer premiums, and geopolitical events impacting the silver market.
- The Silver Maple Leaf Coin (2015 or later) is listed at $51.50/oz.
- Always differentiate between the melt value and numismatic value of Canadian silver coins.
- For most circulated pre-1968 coins, the melt value is the primary driver of their worth, but rare years or specific varieties can command a premium.
- Numismatic value is determined by factors like rarity, condition, and collector demand.
- Reputable dealers and grading services like NGC and PCGS can provide valuable guidance in determining the accurate value of your coins. You can also refer to resources like the Canadian Coin Digest and A Guide Book of Canadian Coins and Tokens for further information.
What year is the most valuable Canadian silver dollar?
Often regarded as the holy grail of Canadian coins, the 1911 Canadian silver dollar is one of the rarest and most valuable coins ever recorded. There are only two known 1911 silver dollars in existence, and one of which is housed at the Canadian currency museum in Ottawa.