Among the different types of Canadian coins, the Silver Dollar holds a special place among the collectors and investors in this field. Not only are they carriers of Canadian history and skill, but they are also good to invest in because of their high content of silver. This blog will explore the Canadian Silver Dollar’s silver content, history, and other reasons why it has remained a mainstay of precious metal collectors.

A Brief History of the Canadian Silver Dollar

The first Canadian Silver Dollar was minted in 1935 to commemorate the 25th anniversary of the reign of King George V. It was called the “Voyageur Dollar,” and it had an extremely striking design of a canoe being paddled by a voyageur and an Indigenous person, symbolizing Canada’s fur trade history.

Over the years, various special edition designs have been minted to celebrate culture, milestones, and historical events of Canada. From 1935 through 1967, these coins were minted in different compositions of silver, which makes their silver content a central point of interest.

Silver Content of Canadian Silver Dollars Canadian Silver Dollars’ silver content depends on the year they were minted. Here is a breakdown:

1935–1967: 80% Silver Content The composition of coins minted between 1935 and 1967 is 80% silver and 20% copper. Weight: 23.33 grams Pure Silver Content: 18.67 grams (0.6 troy ounces) These coins are sometimes referred to as “junk silver” by investors, as they serve a utilitarian function of building a stockpile of silver. Despite the term, their historical value often enhances their appeal.

1968 and Beyond: No Silver Content Canadian Silver Dollars Starting in 1968, all issues switched to base metals, namely nickel, so there is no actual silver content whatsoever. This reflected the increased price of silver and the need for cheaper coin production methods.

Why Invest in Canadian Silver Dollars? 

Canadian Silver Dollars minted prior to 1968 are one of the favorite choices for investors and collectors because of several reasons:

Historical Significance 

Owning these coins is like owning a piece of Canadian history. It goes without saying that design examples such as the Voyageur and 1967 Confederation Centennial make them as visually appealing as they are valuable.

Silver Content 

The 80% silver composition provides a reliable means for one to amass a store of precious metals in more manageable, smaller steps or increments.

Affordability 

They can also be less expensive than contemporary bullion coins and therefore more within reach for novice investors.

Dual Value 

Apart from their silver content, many Canadian Silver Dollars carry some additional collectible value given their rarity and actual condition.

How to Calculate the Value of a Canadian Silver Dollar

 If a pre-1968 Canadian Silver Dollar is to be assessed for its current value, the following shall be done:

Weigh the Silver Content

A pre-1968 dollar contains 0.6 troy ounces of silver.

Check out the spot price for silver:

Check any reliable source for the price of silver at present, which is usurally given per troy ounce.

Multiply Silver Content by Spot Price

Multiply the troy ounces of silver content, 0.6, by the current silver spot: Example: Current Price : $25 USD per troy ounce Value: 0.6 x $25 = $15 USD Keep in mind that collectible premiums can also multiply value many times over, depending on the coin’s condition, year, and rarity. 

How to Buy and Sell Canadian Silver Dollars 

For either purchase or sale, there is no better choice for all your Canadian Silver Dollars than a reputable dealer. Being amongst the leading and most trusted names in this industry, AU Bullion offers competitive rates on buying and selling pre-1968 Canadian Silver Dollars at reasonable prices. We value transparency to make the process easy for both collectors and investors. Conclusion The Canadian Silver Dollar is more than just a coin; it’s a tangible connection to Canada’s rich history and a reliable store of value. With 80% of the silver content in pre-1968 coins, these pieces remain a smart choice for anyone looking to invest in precious metals or add a unique touch to their collection. Be you a seasoned numismatist or a first-time buyer, the allure of the Canadian Silver Dollar is hard to resist. If you want to purchase or sell any of the Canadian Silver Dollars, come to AU Bullion. For more information on other historic silver coins, feel free to visit us today!