Welcome to the top 10 list of rare silver dollars. Canadian silver dollars are among some of the rarest silver coins ever made. They are highly coveted by collectors and their values have generally risen over time. A combination of low mintages and lots of different varieties make these coins extremely collectible and valuable.
A Canadian Silver Dollar Coin was first produced in 1911. This prototype coin was composed of sterling silver and only 3 examples were struck (1 in bronze). It wasn’t until 1935 that the Royal Canadian Mint began minting silver dollars for circulation. These were produced with an 80% silver composition from 1935 until 1967 and, later, with a nickel composition from 1968 until 1987.
Silver dollars circulated in Canada from 1935 until 1986. Since 1987, Canada’s silver dollars have been replaced by the loon dollar (or “loonie” as they’re called). So without further ado here is the list of Canada’s top 10 rare silver dollars.
Top 10 Most Valuable Silver Dollars:
1911 Silver Dollar
The 1911 Canadian Silver Dollar is the Holy Grail of Canadian coins. For years it held the record for the world’s most valuable coin. Only 3 examples were ever struck (2 in silver and 1 in bronze).
The bronze example and 1 silver example are housed at the Canadian Currency Museum in Ottawa, which leaves only 1 example out there for collectors! At an auction in 2003, this coin fetched nearly 1 million dollars!
1948 The King of Canadian Silver Dollars
The “King of Canadian Silver Dollars” is the 1948 Silver Dollar. Its listed mintage was 18,780 but only a few have survived. The story behind the low mintage of the 1948 silver dollar has to do with India’s independence in 1947.
Prior to 1948, the obverse of Canadian coins featured the effigy of the reigning monarch with their name and royal title in a Latin inscription. Part of their royal title included the designation of “emperor of India.” So this needed to be removed from the dies to strike the 1948 coins.
By the time the mint received the new dies they were only able to produce a small quantity. These coins can be found at auction and usually sell between $1,000 and $20,000, depending on the grade.
1947 Maple Leaf Silver Dollar
The 1947 Maple Leaf Silver Dollar shares its history with the 1948 silver dollar. As the RCM awaited new dies to strike the 1948 coins, they used the 1947 dies to fulfill existing demand.
In similar fashion to the 1936 “dot” coins mentioned in my other articles, the mint placed a tiny maple leaf next to the date on the coins to signify that they were struck in 1948.
The listed mintage for these coins is 21,135 but it is also a rare silver dollar. It can fetch anywhere from $300 to $10,000 at auction, depending on the grade.
1967 Canada Goose Silver Dollar (Upset Dies Variety)
1967 was a special year for Canada as it celebrated the centennial of confederation. To commemorate the occasion, the mint issued a special set of coins for the year. We all remember the bird penny, the rabbit nickel, the fish dime, the bobcat quarter, wolf 50-cent piece and, of course, the Canada Goose Silver Dollar!
Nearly 7 million Goose Dollars were minted and made their way out to the public. Lots were put away as keepsakes and people made it a point to try to get a proof set. The result, of course, is that these coins are quite common. However, there is a very rare variety of the coin with upset dies. Basically, the front of the coin is rotated 180 degrees from the back of the coin. This very rare example can fetch over $10,000 at auction.
Though not as rare as upset dies variety above, the so-called “Diving Goose” is a similar error that is rotated approximately 45 degrees. This fun variety can sell for a few hundred bucks.
1947 Pointed 7 Dot Silver Dollar
Another rare 1947 silver dollar is the “Pointed 7, Dot” variety. In this case the so-called “dot” was created as a result of the mint using a specimen die for circulation or business strikes. The specimen die had a small pit on it that created a raised dot on a few coins.
There were also 2 types of “7s” on these coins. First, there was a pointed 7 variety (pictured above). In this variety, the shape of the number 7 is tall with the bottom of it curving to the right where it comes to a point. The other variety is known as the blunt 7. The 7 is shorter and the bottom points almost straight down.
A pointed 7 dot variety can sell for over $8,000 at auction in high end mint state grades, while a high end blunt 7 variety can fetch over $2k. Really any 1947 silver dollar is worth a few hundred bucks at minimum if it’s in decent shape. So if you have one it might be worth a trip to your local coin dealer, but do your research first.
1966 Small Beads Silver Dollar
Nearly 10 million 1966 silver dollars were struck by the mint. A small number of these are a very rare variety called the “Small Bead” variety.
As is so often the case with error coins, a small bead 1965 obverse die was paired with a 1966 reverse. The coins were struck at the Hull Mint in proof-like quality. They were set to be destroyed when they were inadvertently shipped out to bank branch where they entered into circulation.
To determine whether or not your 1966 dollar is the small beads variety, get out your magnifying glass (no seriously!) and look at the position of the letter “I” in “REGINA.” If it points directly to a bead, then it’s a small bead variety. If it points in between 2 beads it is a large bead variety. Mint state coins can fetch over $5,000 at auction so it’s definitely worth having a look!
1982 Constitution Commemorative Dollar
In 1982, to commemorate the new Canadian constitution, the Royal Canadian Mint struck a new silver dollar. The “Constitution Dollar” as they’re known was made of nickel. Nearly 12 million of these coins went into circulation and the vast majority have very little collector value. However, there are 2 rare varieties of this coin that exist.
First, there is a “thin planchet” variety. The mint ordered blank planchets from a private supplier and they were not up to spec. They were underweight and the mint’s quality control people stopped the vast majority of these coins from entering into circulation.
The second variety is the one pictured above, the “upset dies” variant. Basically, the front of the coin is rotated 180 degrees from the back of the coin. This very rare coin has sold at auctions for over $5,000!
1945 Silver Dollar
The 1945 silver dollar is one of the lower mintages for Canadian silver dollars. Just over 38,000 were made and finding one above a MS-63 grade can cost several thousands – sometimes up to $5,000.
1951 Arnprior Silver Dollar
The 1951 Arnprior Silver Dollar is unique in that it has one and a half water lines to the right of the voyageur canoe. Regular 1951 silver dollars have 4 full water lines.
What’s interesting with the Arnprior dollars is that this variety was discovered by collectors in 1955 when a firm in Arnprior, Ontario ordered 2,000 silver dollars from the mint.
The 1955 Arnpriors have two and a half water lines to the right of the canoe. Collectors began examining earlier silver dollars from the 1950s and discovered the different varieties of water line marks were present on some 1950, 1951 and 1952 silver dollars.
By extension, the term “Arnprior” dollar was applied to these years as well. The 1951 Arnprior silver dollar can fetch anywhere from a few hundred bucks to over a thousand dollars in the higher end mint state grades.
1955 Arnprior Silver Dollar
The 1955 Arnpriors have two and a half water lines to the right of the canoe. These coins in mint state can fetch as much as $700 at auction in high end mint states.
Well that’s it for this list on the top 10 rarest silver dollar coins.
***Do you have some coins that you think might be worth some money? I get lots of questions about various coins. Search for them using the search box at the top right hand side of this website.***
For more information about Rare Canadian coins check out these titles from Amazon:
James A. Haxby’s A Guide Book of Canadian Coins
M. Drake’s Canadian Coin Guide: 2018 Charlton Coin Guide 57th Ed.
Protect and Preserve Your Coins
It’s no secret that the most valuable coins are ones that are well preserved. I highly recommend using the individualized 2×2 coin holder. I’ve used them for years for my own coins and they can be kept in a special coin album.
See my other articles on rare coins and investing in coins:
Thanks for reading the top 10 rare silver dollars and keep on collecting!