The 1921 Canadian 5-Cent Coin Worth Over $100,000 – Do You Have One?
The 1921 Canadian 5-cent coin, famously referred to as the “Prince of Canadian Coins,” is one of the rarest and most desirable coins in Canadian numismatic history.
With only a few hundred known to exist today, this silver coin has fetched prices well over $100,000 in top auctions, making it a high-value find for any collector or lucky thrifter.
This coin’s value stems not just from scarcity but also from its pivotal place in Canadian monetary history.
The story behind its rarity involves a change in metal composition that marked a significant evolution in Canada’s coinage policy.
Why Is the 1921 5-Cent Coin So Rare?
In 1921, the Royal Canadian Mint produced approximately 2.5 million silver 5-cent coins. However, due to the government’s decision to switch to more durable nickel coins in 1922, almost the entire batch was recalled and melted down before they ever reached the public.
It’s estimated that only 400 to 480 coins escaped the melting process—either retained by collectors, found in mint rolls, or acquired before the transition was complete.
These surviving specimens are now among the most valuable Canadian coins in existence.
Design and Specifications
The 1921 5-cent coin features:
- Obverse: A left-facing portrait of King George V, styled with classical detail.
- Reverse: The denomination “5 CENTS,” the country name “CANADA,” and the year “1921” surrounded by a crown-topped maple leaf wreath.
Specifications:
- Composition: 80% silver, 20% copper
- Weight: 1.17 grams
- Diameter: 15.5 mm
- Edge: Reeded
Despite its tiny size, its historical importance and value are immense.
Current Market Value
The value of a 1921 Canadian 5-cent coin can vary significantly based on its condition and grading:
| Grade | Estimated Value (CAD) |
|---|---|
| Good (G-4) | $5,000 – $7,000 |
| Very Fine (VF-20) | $10,000 – $15,000 |
| Extremely Fine (EF-40) | $20,000 – $30,000 |
| About Uncirculated (AU-50) | $40,000 – $60,000 |
| Mint State (MS-65) | $100,000+ |
Coins graded Mint State with no visible wear and sharp features command the highest prices. The coin’s eye appeal, toning, and strike can further impact value.
Recent Auction Highlights
Collectors are often willing to pay a premium for high-grade examples:
- In 2019, a PCGS MS-65 graded coin sold for $67,082.
- A Specimen-63 coin fetched $26,775 in 2021.
- Even coins in lower grades, such as VG-8, have sold for nearly $6,000.
These auction records demonstrate the incredible demand and value appreciation of this historic coin.
How to Identify a Genuine 1921 5-Cent Coin
To determine if you have a real 1921 Canadian 5-cent coin:
- Check the Date – It must be marked “1921”.
- Observe the Design – Look for King George V and the detailed maple leaf wreath.
- Inspect the Composition – The coin should be silver, not nickel.
- Seek Authentication – Because of high value, it’s important to have the coin graded and certified by a professional service.
Collectors should also be aware of counterfeit versions circulating in the market, especially online.
Why Collectors Value This Coin
The 1921 Canadian 5-cent coin is treasured for multiple reasons:
- Historical Significance – It marks the end of Canada’s silver 5-cent era.
- Incredible Rarity – Fewer than 500 are known to exist today.
- Legacy Value – It remains a benchmark piece in any Canadian coin collection.
Its mystique, combined with verifiable auction results, makes this coin a symbol of prestige in the numismatic world.
The 1921 Canadian 5-cent coin is a small but powerful piece of Canadian heritage. Worth more than $100,000 in some cases, it is a top-tier collectible that continues to appreciate in value.
Its scarcity, history, and market demand make it a remarkable asset for coin collectors, investors, and anyone lucky enough to stumble upon one.
Whether you inherited an old coin box or found one at a flea market, check your change—you just might be holding a piece of Canadian history.
FAQs
How many 1921 Canadian 5-cent coins are still in existence?
Roughly 400 to 480 coins are believed to have survived after most were melted down by the Royal Canadian Mint.
Why were most 1921 silver 5-cent coins destroyed?
The government transitioned to nickel 5-cent pieces in 1922, and the older silver coins were melted down to accommodate the change.
How can I check if my 5-cent coin is from 1921 and valuable?
Examine the date, check for silver composition, and consult a reputable coin grading service to verify authenticity and condition.