Canadian Numismatic Coins - August  2001

The Canadian Coin Market has shown some very impressive gains over the past year. The demand for Mint State Large Cents and early Small Cents has been overwhelming. Collectors do prefer copper coins with at least 60% red colour, and they do not appear to be too concerned about paying substantial premiums for coins that have nice colour and good eye appeal. Market activity for most mint state Large Cents has been very active. Coins with decent colour are selling for well over book value. An 1858 Large Cent in MS-63 Red sold recently for $825. An 1897 Large Cent in MS-65 Red sold for $1,500 at the same auction. Small Cents of King George V have proved to be very challenging lately. All dates with the exception of 1920 and 1936 are scarce in mint state with decent colour. A 1931 Small Cent in MS 63 sold recently for $1000! That may seem like a high price, but I feel that this is a fair reflection on the true scarcity of these dates in MS 63+ Red. King George VI Small Cents from 1942-1946 and 1948 have been very difficult if not impossible (1944 in particular) to obtain with nice red colour. Even some “common” dates, like 1951, are next to impossible to find in MS 65 Red. Many of the pieces from this period are streaky and unattractive, even though their technical grade is high. Key date cents dated 1858, 1894, and 1922-1926 are also selling quickly. There are many new collectors entering the hobby, and a lot of them have taken up collecting Canada's Cents. There has also been a lot of activity on 1953 SS Cents in MS 63 Red+, and the rare 1954 NSS Cent. It is not generally known that the 1954 NSS Cent was only included in a handful of 1954 PL Sets. They were not issued into general circulation. This is a rare coin that seldom appears in the marketplace. It is even more challenging to find a 1954 NSS Cent with full-red colour.

Canadian 5-cent Silvers have been fairly popular lately. Demand has been strong for attractive Common-Date Victorian pieces in EF and virtually all grades in Key and Semi-Key Dates. There are very few 1875-H and 1884 5-cent Silvers available. The 1875-H Large Date variety is much scarcer that the catalogues indicate, and prices for this scarce variety are climbing. Another variety that is scarce is the 1908 Large 8 variety. Most of the 1908 Large 8 5-cent Silvers were struck for 1908 Specimen Sets. Only a small portion of the circulation mintage was of the Large 8 variety. The supply of 1921 5-cent pieces is almost non-existent. This coin is genuinely under priced in VG and Fine! Nickel 5-cent pieces have been solid sellers in Mint State grades, particularly King George V. Many of the early Depression years from 1931-1934 are very rare in Mint State. The supply of 1925 and 1926 Far 6 5-cents in VG condition has dried up. This indicates a large number of new collectors entering the hobby, as George V Nickel 5-cents are always a popular starting point for beginning collectors.

In the 10-cent series, demand is very strong for the Key and Semi-Key Dates in all grades. The 1872-H, 1889, and 1893 Round-Top 3 are the most sought after. Victorian 10-cents dated 1896 and prior are really good sellers in VF or better condition. Post-1896 dates in EF or better are also desirable. Even common Victorian dates in low grade are getting hard to find. The real surprises are in the Edward series. With the exception of the 1902, 1902-H, and 1910 issues, all are very scarce and under priced in true Fine or better. The portrait of King Edward VII was struck in very high relief, and thus wears out very badly in circulation. George V 10-cents have been active in VG and other intermediate grades, mostly due to the numbers of new collectors entering the hobby. A 1969 Large Date 10-cent in AU sold at an auction in April 2000 for a disappointing $9000.00.

Canada's 25-cent series has been very popular recently. The series has been made far more interesting due to several scarce modern dates and three annual commemorative series. Victorian 25-cents have always been a challenge to collect as there are many Key Dates. Many so-called "Common" Victorian Dates are actually quite scarce. Dates such as 1871, 1871-H, 1882-H, 1886, 1886 6 over 3, 1888, and 1894 have been very fast sellers these days. In particular, the 1886 6 over 3 is under priced in all grades, but especially in VF and better. The Key Dates have always been popular, especially the 1875-H and the 1885. All Edward 25-cents have been excellent sellers. All dates from 1903-1908 are very scarce in F-EF grades, and rare in AU and better. The very rare 1906 Small Crown variety is on many want lists. King George V coins have also been very popular in all grades from VG to AU. Early dates are scarce in true Fine and better condition, particularly 1915. Some of the Depression dates especially 1931, 1932, and 1933 are under priced. In more modern Canadian 25-cents, the 1951 Low Relief, the 1973 Large Bust Mule, and the 1999 September and November Large Bust Mules have been popular. In April, we received a report from a collector who found a 1993 Proof-Like Caribou 25-cents with the obverse of a 1992 Canada 125 issue. In other words, the coin had the date "1993" on the reverse, and the dates "1867-1992" on the obverse. This coin is within the realm of possibility because the Mint was still producing the 1992 Canada 125 sets throughout 1993. If anyone else has found one, I would love to hear about it! Remember the 1992/1993 Mule 25-cents will only appear in a 1993 PL or Specimen set.

The 1951 Low Relief 25-cents was a Proof-Like only issue, struck for Uncirculated Year Sets issued by the Mint in 1951. It seems that no business strike 1951 Low Relief 25-cents were struck. Most Canadian catalogues have erroneously listed the 1951 Low Relief 25-cents as being available as a business strike for years, and collectors are constantly being misled that a circulated example may turn up. Incidentally, which Canadian coin do you think our firm receives the largest number of requests for? You guessed it! A business strike 1951 Low Relief 25-cents!

Canadian 50-cent pieces have received the lion's share of recent market interest. Almost everything dated 1936 and earlier is selling rapidly. Victorian and Edwardian dates are the fastest sellers. All dates are selling well in the Victorian series, but the Key and Semi-Key Dates such as 1871-H, 1888, 1890-H, 1894 and 1899 have been phenomenal sellers. The market seems to have finally realized just how scarce some of these pieces really are. The same is true for the Edwardian series. All dates except for 1910 are much scarcer than the catalogues indicate. The most under priced dates are 1902, 1904 and 1907. The 1910 issue is relatively common in low grades, but scarce in VF and better. The George V series has also been popular lately. Most George V 50-cent pieces are scarce in VF and better condition, especially the dates before 1916. A rare 1921 50-cent piece sold in August 2001 for around $13,000. It graded Good-6. Another 1921 in MS-64 sold for nearly $80,000 at an auction in June. The Depression dates 1932, 1934, and 1936 have also been phenomenal sellers, especially the 1932. It seems even the 1931 is attracting attention. The 1932 50-cent piece is ridiculously under priced. In VG the coin lists for $150.00, and we are anxious buyers at $115.00-$135.00! Even at these high buy prices, the 1932 50-cent piece only comes in at a trickle. The few pieces that do turn up always sell within a day or so. With a mintage of only 19,213 - how many 1932 50-cent pieces could there possibly be in existence today? In modern 50-cent pieces, the 1948 has been a really good seller, as is the 1982 Type 2 Low Relief Mule.

Canadian Silver Dollars still remain quiet. There is still a lot of demand for 1945 and 1948 Silver Dollars in all grades, but other dates have been slow sellers. This is especially true of common or semi-scarce Silver Dollars in the lower mint state grades of MS-60 to MS-63. The only exceptions are condition-rare pieces (such as 1937’s or 1946's in MS-65, and so on). The only coin in the Nickel Dollar series that has been experiencing extensive market interest at this time is the 1974 Double Yoke. In all grades, this coin seems to be much scarcer than the catalogue indicates. Collectors have been quite interested in the 1997 10th anniversary Flying Loon recently. Although not particularly scarce, it seems to be a favourite amongst collectors.