1901 Canadian 25-Cent (Quarter) Value Guide
Find out what your 1901 Canadian quarter is worth. Complete price guide by grade (G4–MS66), the 9/9 repunched date variety, and sterling silver melt value as of February 2026. All values in CAD.
The 1901 Canadian quarter is a 92.5% sterling silver coin. Its silver content gives every example a melt floor of approximately $19.35 CAD (February 2026). Most circulated examples trade between $19.50–$72.00; Gem Uncirculated examples reach $5,000 and beyond.
- Is it silver? Yes — 92.5% sterling silver. No example is worth less than its silver melt value of ~$19.35 CAD, regardless of condition.
- Circulated (G-4 to VF-20):$19.50–$72.00 — low grades trade near the bullion floor; meaningful numismatic premiums begin at F-12 and above.
- Extremely Fine (EF-40):$210.00
- About Uncirculated (AU-50):$375.00
- Uncirculated (MS-60):$660.00
- Choice Uncirculated (MS-63):$1,520.00
- Gem Uncirculated (MS-65):$5,000.00
- Shiny or apparently uncirculated? The 1901 quarter was never issued in Proof-Like or Specimen sets for public sale. A gleaming example is either a genuine Mint State rarity (highly valuable) or a cleaned coin (significantly discounted). A magnet test and expert examination are advised. See identification guide →
- 9/9 Repunched Date variety: Identifiable with a 10× loupe — a VF-20 example jumps from $72 to $129. See variety guide →
All values in CAD as of February 2026, reflecting elevated silver spot prices (~$110.75–$113.10 CAD/oz). See full value chart →
The 1901 Canadian 25-cent piece — the final Victorian quarter struck at the Royal Mint, London, closing out the Mature Head series that ran from 1870 to 1901.
The 1901 Canadian 25-cent piece is the last quarter issued under Queen Victoria, closing a design series that began in 1870. Struck exclusively at the Royal Mint, London (Tower Hill) — the Royal Canadian Mint in Ottawa did not open until 1908 — this coin carries no mint mark and is composed of 92.5% sterling silver. With a mintage of 640,000 and a survival rate heavily skewed toward low circulated grades, it occupies a genuine “semi-key” position in the series: findable in worn grades, but a legitimate rarity in Mint State. For the complete denomination context, see our Canadian Quarter Value Guide.
Note: Mint errors such as broadstrikes and wrong-planchet strikes are known for Victorian-era coinage but are outside the scope of this standard value guide.
1901 Canadian Quarter Composition & Melt Value
The 1901 Canadian quarter contains approximately 0.1728 troy ounces of pure silver — a higher silver content than any subsequent Canadian quarter struck after 1919.
Alloy Breakdown
The 1901 Canadian quarter adheres to the British Sterling Standard maintained by the Dominion of Canada until 1919. The composition is:
- Silver (Ag): 92.5%
- Copper (Cu): 7.5% (added for hardness and durability in circulation)
This purity is substantially higher than the 0.800 silver standard adopted in 1920 or the 0.500 silver standard of the 1967–1968 transition issues. The coin contains approximately 0.1728 troy ounces of actual silver weight (ASW), giving it more intrinsic metal value than any later Canadian quarter of the 20th century.
Melt Value (February 2026)
Silver markets experienced a significant upward trend in early 2026. Based on spot prices of approximately $110.75–$113.10 CAD per troy ounce (approximately $3.56–$3.64 CAD per gram, retrieved February 10, 2026 via GoldBroker and SilverPrice.org), the melt value of a 1901 Canadian quarter is approximately $19.35 CAD.
This bullion floor has a direct and critical impact on valuation: no dealer will sell a 1901 quarter for less than its silver melt value. As a practical consequence, the price spread between G-4 and VG-8 is compressed in the current market — both grades are effectively “junk silver” priced near the metal floor. Meaningful numismatic premiums begin at Fine-12 (F-12), where visible coin detail — separated wreath leaves, readable hair braid — justifies a price above the bullion base.
⚠️ Melting Canadian Coins Is Prohibited
The Currency Act of Canada prohibits the melting or destruction of Canadian coins of the realm for their metal content. The melt value cited above is a market pricing reference floor, not an invitation to melt. Do not attempt to melt or destroy Canadian coinage.
Magnetic Properties and Authentication
The 1901 quarter is composed of a silver-copper alloy with no iron or steel content. It is completely non-magnetic. If a magnet attracts the coin, reject it immediately as a counterfeit — high-quality fake Victorian quarters often use steel or base-metal alloys. The magnet test is the fastest first step in authentication and should always be performed before examining grade or variety.
1901 Canadian Quarter Value Chart by Grade
The following tables present typical retail market values as of February 2026, expressed in CAD. Values are sourced primarily from the Coins and Canada Price Guide, the NGC World Coin Price Guide, and confirmed dealer and auction records.
A circulated G-4 coin (left, ~$19.50) trades near the silver melt floor, while a Gem MS-65 (right, ~$5,000) retains full original mint luster. (Illustration — not a photo of your exact coin)
1901 Canadian 25 Cents — Business Strike (Circulation)
| Type / Design | G-4 | VG-8 | F-12 | VF-20 | EF-40 | AU-50 | MS-60 | MS-63 | MS-65 | Notes |
|---|---|---|---|---|---|---|---|---|---|---|
| 1901 Standard Victoria Obv. 5 / Crossed Maple Boughs Wreath | $19.50 ★ Melt-adjusted floor | $25.00 | $35.00 | $72.00 | $210.00 | $375.00 | $660.00 | $1,520.00 | $5,000.00 | MS-64: ~$2,050. MS-66: ~$11,400 (Coins and Canada guide). Cleaned or dipped coins trade at a 30–50% discount at any grade. “Original skin” dark toning commands a premium in F-12 and above. |
★ G-4 value reflects the current silver bullion floor (~$19.35 CAD) as of February 2026. Older catalogue listings showing lower values are now superseded by elevated silver spot prices. Source: Coins and Canada.
Grade Tier Market Analysis
Circulated (G-4 to VF-20): The vast majority of surviving 1901 quarters fall in this range. At G-4 and VG-8, the coin trades near its silver melt value of approximately $19.35–$25.00. The numismatic premium begins meaningfully at F-12 ($35.00), where the major details of the wreath and the Queen's hair braid are distinct. VF-20 at ~$72.00 is the “sweet spot” for intermediate collectors: good visible detail without the exponential cost of higher grades. In VF-20 and above, collectors pay a premium for coins with “original skin” — natural dark grey toning indicating the coin has never been dipped or cleaned. A blast-white VF-20 often trades at a 20–30% discount.
The Condition Rarity Cliff (EF-40 to AU-50): The jump from VF-20 ($72) to EF-40 ($210) — roughly a 3× premium — reflects the genuine difficulty of finding Victorian silver that survived decades of circulation with intact hair braid details and maple leaf veins. To grade EF-40, a coin must retain intricate detail and evidence of original mint lustre in protected areas. Dealers frequently report difficulty maintaining stock of EF and AU examples.
Mint State (MS-60 to MS-65+): The 1901 quarter in Mint State is a genuine rarity. MS-63 ($1,520) represents a “Choice” example with strong eye appeal and minimal bag marks. MS-65 ($5,000) is “Trophy” territory — preserving a Victorian silver coin for 125+ years in Gem condition required extraordinary luck and careful stewardship. MS-66 examples (~$11,400) sit near the top of the known population and command exponential premiums driven by registry-set competition.
1901 Canadian 25 Cents — 9/9 Repunched Date Variety: Value Comparison
The 1901 9/9 Repunched Date is a Charlton Standard Catalogue–listed variety recognized by ICCS, PCGS, and NGC. The table below shows documented values alongside standard comparisons. See Section 4: Notable Variants for full identification details.
| Variety | VG-8 | VF-20 | MS-63 | MS-64 | Source |
|---|---|---|---|---|---|
| 1901 9/9 Repunched Date | $32.70 | $129.00 | ~$2,190 | $3,910 | Canadian Coin & Currency / Coins and Canada |
| Standard 1901 (for comparison) | $25.00 | $72.00 | $1,520.00 | ~$2,050 | — |
Grades not listed reflect insufficient documented pricing data at time of publication and are shown as omitted rather than estimated. All values CAD, February 2026. For the complete denomination price guide, see our Canadian Quarter Value Guide.
Most Valuable 1901 Canadian Quarter Varieties
The 1901 Canadian quarter is relatively “clean” compared to earlier Victorian dates with complex overdates. Its primary catalogued variety — the 9/9 Repunched Date — offers a genuine identification and value opportunity for the attentive collector.
A. Trophy-Level Examples
Peak value for the 1901 quarter is driven almost entirely by condition rarity. Top-certified examples are highly liquid numismatic assets and attract registry-set competition.
| Rank | Classification | Why It Commands This Price | Grade Required | Estimated Value (CAD) | Source |
|---|---|---|---|---|---|
| 1 | 1901 Standard (MS-66) | Top of population. Near-impossible to find. Represents the absolute pinnacle of Victorian silver preservation over 125+ years. | ICCS / PCGS MS-66 | ~$11,400 | Coins and Canada |
| 2 | 1901 9/9 Variety (MS-64) | Double rarity: scarce die variety combined with near-Gem preservation. | ICCS MS-64 | $4,000–$6,000+ | Prominence XI Sale, Nov. 2024 |
| 3 | 1901 Standard (MS-65) | Gem scarcity. The benchmark for high-end Victorian quarter collections. | ICCS / PCGS MS-65 | ~$5,000 | NGC Price Guide |
| 4 | 1901 9/9 Variety (MS-63) | Choice variety: strong eye appeal combined with a confirmed repunched date. | ICCS MS-63 | ~$2,190 | Coins and Canada |
The gap between MS-65 ($5,000) and MS-66 ($11,400) illustrates the “winner-take-all” nature of the registry-set market. Collectors competing for the top spot on the PCGS or NGC digital registry pay exponential premiums for the single finest certified example.
B. The Findable Variety: 1901 9/9 Repunched Date
The 9/9 Repunched Date variety — look for a secondary ghost outline or doubling visible inside the bottom loop or along the downward tail of one or both “9” digits in the date, under 10× magnification. (Illustration — not a photo of your exact coin)
This is the primary cherry-picking opportunity in the 1901 series. Unlike random mint errors, the 9/9 is a Charlton Standard Catalogue–listed variety consistently recognized by ICCS, PCGS, and NGC.
What caused it? During die production at the Royal Mint, date digits were hand-punched individually into working dies. If the first punch was slightly misaligned and not fully effaced before the correcting punch was applied, a secondary “ghost” impression of the numeral remains visible on struck coins.
| Variant | Identification Marker | Magnification Required | Where to Look | Rarity vs. Standard |
|---|---|---|---|---|
| 1901 9/9 Repunched Date | Secondary ghost outline or doubling visible inside the bottom loop or along the downward tail of the “9” digits in the date “1901” | 10× loupe minimum | The date on the reverse of the coin, lower central field | Scarcer than standard; fewer working dies exhibited this characteristic |
Why check every coin you handle? A dealer may price a VF-20 coin at the standard $72.00 without inspecting the date under a loupe. If the 9/9 doubling is confirmed, the book value rises to approximately $129.00 — an immediate value arbitrage requiring roughly 60 seconds of examination. ICCS-certified examples of this variety have been confirmed in the active Canadian marketplace. Source: Canadian Coin & Currency, ICCS EF-45 listing.
💡 The 60-Second 9/9 Check
Place the coin under a 10× loupe and focus on the date “1901” on the reverse. Examine both “9” digits specifically. If you see a ghost outline or shadow within the bottom loop or running down the tail of either “9,” you have the repunched variety. This check takes about a minute per coin and can nearly double the coin's value in the VF grade range.
1901 Canadian Quarter Identification Guide
Before assigning a value, confirm the coin's identity and authenticity. Victorian silver is frequently counterfeited, cleaned, or misidentified. Work through this checklist in order.
Obverse 5 diagnostic: the pointed base of Queen Victoria's bust truncation aligns directly to the serif of the “C” in CANADA. Also look for a small strand of hair below the coronet and subtle lines on the aging chin.
30-Second Checklist
Monarch Check (Obverse): You must see Queen Victoria — a mature portrait wearing a veil and coronet/tiara, facing left. The legend reads VICTORIA DEI GRATIA REGINA CANADA. This is Obverse 5: the key diagnostic is that the pointed base of the bust truncation points directly to the serif of the letter “C” in CANADA. Also look for a small strand of hair below the crown and subtle doubling lines on the aging chin.
Reverse Design Check: A royal crown surmounting a wreath of crossed maple boughs, with “25 CENTS” and “1901” prominently displayed within the wreath.
Date Check: The date must clearly read 1901. While examining the date, use a 10× loupe to check the “9” digits for the 9/9 Repunched Date variety — see Section 4 for the specific diagnostic.
Edge Check: The edge must be reeded (vertical milled grooves). A smooth or plain edge indicates damage or a counterfeit.
Magnet Test (Composition Verification): Hold a neodymium or strong magnet to the coin. A genuine 1901 quarter is 92.5% silver and will not stick to a magnet. Attraction to a magnet means the coin is struck in steel or a base-metal alloy — a counterfeit. This is your fastest authentication test and should always be performed first.
Mint Mark Check: There should be no mint mark on a genuine 1901 Canadian quarter. The coin was struck solely at the Royal Mint in London, which applied no identifying mark. If you observe a small “H” below the crossed boughs on the reverse, you have a Heaton Mint coin — which was not produced for the 1901 date. A “1901” coin bearing an “H” is either a counterfeit or has an altered date from a different year (Heaton produced Canadian quarters in 1871, 1872, 1874, 1875, 1880, 1881, 1882, 1883, 1885, 1890, 1892, and 1902, but not 1901).
Weight Check: A genuine coin should weigh approximately 5.81 grams on a digital scale. A heavily worn G-4 example may weigh as low as ~5.7 g due to metal loss from circulation. Any coin weighing below 5.5 g or above 6.0 g should be viewed with strong suspicion.
Finish Identification:
- Business Strike (Circulation): On high-grade examples, look for a frosty “cartwheel” lustre that rotates as you tilt the coin under direct light. Background fields show microscopic flow lines from the striking process. Bag marks (small contact nicks) are normal and expected on MS-60 to MS-62 examples.
- Specimen (SP): Theoretical only for public collectors. Any 1901 Specimen strike would be an institutional rarity in a museum or paramount private collection. The probability of finding one in a random accumulation is effectively zero. A genuine Specimen would exhibit squared wire rims, mirror or matte fields, and strongly frosted devices producing a deep cameo contrast.
Cleaning / Alteration Check: Victorian silver typically acquires dark gunmetal-grey toning over 125 years. Signs of cleaning to look for under a 10× loupe: (a) hairlines — fine parallel scratches on the fields from polishing or wiping; (b) unnatural flat brightness without cartwheel lustre, indicating acid dipping. Cleaned coins are designated “Details (Cleaned)” by ICCS, PCGS, and NGC and trade at a 30–50% discount relative to problem-free examples. Original dark toning is a sign of authenticity, not a flaw.
The magnet test: a genuine 1901 quarter (92.5% silver) is completely non-magnetic. If your coin sticks to a magnet, it is a counterfeit. (Illustration — not a photo of your exact coin)
⚠️ Never Clean Your Coins
Cleaning a Victorian silver coin strips its original luster and leaves hairlines visible under magnification. A cleaned 1901 quarter is graded “Details” by ICCS, PCGS, and NGC, losing all numismatic premium regardless of its underlying detail quality. The natural dark patina accumulated over 125 years is a mark of authenticity and originality — do not disturb it.
⚠️ PVC Damage Risk
Coins stored for decades in soft PVC plastic flips may develop a sticky green residue that chemically attacks the silver surface. If you observe green slime on your 1901 quarter, the coin requires professional conservation using pure acetone — do not use nail polish remover or household cleaners. Coins with active PVC damage revert toward melt value.
1901 Canadian Quarter Value FAQs
What is a 1901 Canadian quarter worth?
In circulated grades (G-4 to VF-20), a 1901 Canadian quarter trades from approximately $19.50 to $72.00 CAD, with the low end anchored by its silver melt value of ~$19.35 CAD (February 2026 prices). Extremely Fine (EF-40) examples reach $210.00; About Uncirculated (AU-50) reaches $375.00. Gem Uncirculated (MS-65) examples are worth approximately $5,000, and the finest known (MS-66) approach ~$11,400. Coins with the 9/9 Repunched Date variety command significant premiums at every grade. All values in CAD.
Is a 1901 Canadian quarter made of silver?
Yes — the 1901 Canadian quarter is struck in 92.5% sterling silver (7.5% copper for durability). It contains approximately 0.1728 troy ounces of actual silver weight. This is significantly purer than later Canadian quarters: the Dominion debased silver coinage to 0.800 purity after 1919. Every genuine 1901 quarter has meaningful intrinsic silver value regardless of its numismatic grade, making it the equivalent of a bullion coin in worn condition.
What is the melt value of a 1901 Canadian quarter?
Based on silver spot prices of approximately $110.75–$113.10 CAD per troy ounce recorded in February 2026, the melt value of a 1901 Canadian quarter is approximately $19.35 CAD. This figure serves as the absolute price floor — no dealer will sell the coin below its silver content value. Note that melting Canadian coins is prohibited under the Currency Act of Canada; this figure is a market pricing reference only. Silver spot prices fluctuate daily, so the floor value changes accordingly.
What makes a 1901 Canadian quarter most valuable?
Three factors drive the highest values: (1) Grade and preservation — the difference between VF-20 ($72) and MS-65 ($5,000) is entirely a function of survival condition; (2) Original surfaces — coins with undisturbed original “skin” dark toning command premiums over cleaned or dipped examples, which are discounted 30–50%; and (3) The 9/9 die variety — a confirmed repunched date commands premiums ranging from 31% in VG to over 90% in MS-64. Registry-set competition for the finest PCGS or NGC-certified example can push MS-66 values to exponentially higher levels than the listed guide price.
What is the 9/9 Repunched Date variety and how do I identify it?
The 1901 9/9 is a Charlton Standard Catalogue–listed die variety caused when the date punch was misaligned on the first strike and then re-struck to correct its position, leaving a secondary “ghost” impression. To identify it: examine the date “1901” under a 10× loupe and look for a secondary outline or doubling inside the bottom loop or along the downward tail of one or both “9” digits. At VF-20, confirming the variety raises the value from $72 to approximately $129. At MS-64, the variety is valued at $3,910 versus ~$2,050 for a standard example.
Should I get my 1901 Canadian quarter professionally graded?
The economics depend entirely on the coin's likely grade. Professional grading (ICCS, PCGS, or NGC) typically costs $30–$50+ per coin plus submission and shipping costs. For coins in G-4 through F-12 range, the grading fee would exceed any numismatic premium above the $19.35–$35.00 value range — certification is not worthwhile. For coins that appear to be EF-40 or better (where values start at $210), certification is strongly recommended: it establishes authenticity, protects value against the “cleaned” designation, and makes the coin highly liquid in auction and dealer channels.
What is the difference between ICCS and PCGS/NGC grading for a 1901 quarter?
ICCS (International Coin Certification Service) is the Toronto-based standard for Canadian coins. The Charlton Standard Catalogue and the Coins and Canada price guide calibrate values to ICCS grading standards, which are considered conservative and strict. PCGS and NGC are the dominant US-based third-party grading services. In high grades (MS-65+), coins in PCGS or NGC holders often command a market premium due to Registry Set competition — wealthy collectors competing for the top rank on digital leaderboards. When examining raw (ungraded) Victorian coins, industry practice is to assume the coin will grade approximately one point lower than a dealer has described it, relative to what a US service would assign.
Why is there such a large price jump between VF-20 and EF-40?
The jump from $72 at VF-20 to $210 at EF-40 — approximately three times the price — reflects a genuine survival cliff. To grade EF-40, the coin must retain the intricate details of Queen Victoria's hair braid, the individual veins in the maple leaves, and evidence of original mint lustre in the protected recesses of the lettering. Most coins that circulated actively in Canada during the early 20th century lost these details within their first years of use. An EF-40 coin is one that somehow escaped heavy handling for over a century — a combination of early withdrawal from circulation and careful storage.
How do I tell if my 1901 quarter has been cleaned or polished?
Examine the coin under a 10× loupe or strong light at a raking angle and look for two signs: (1) Hairlines — fine parallel scratches on the flat fields of the coin, caused by polishing or wiping with a cloth; and (2) Flat, unnatural brightness without the rotating “cartwheel” lustre of an original uncirculated coin, indicating the coin has been acid-dipped. Genuine 1901 quarters display dark gunmetal-grey toning after 125 years. This original dark patina is desirable, not a flaw. Cleaned coins receive a “Details (Cleaned)” designation from grading services and trade at a 30–50% discount.
What if my 1901 quarter is attracted to a magnet?
If a magnet attracts the coin, it is almost certainly a counterfeit. A genuine 1901 Canadian quarter is 92.5% silver with 7.5% copper — completely non-magnetic. Counterfeit Victorian quarters exist and are often struck in steel or base-metal alloys that are weakly or strongly magnetic. Perform the magnet test before any other examination. A coin that fails the magnet test has no numismatic value regardless of its appearance.
Methodology & Sources
Values in this guide are as of February 2026 and expressed in Canadian Dollars (CAD). Pricing is synthesized from the following authoritative sources:
- Coins and Canada — 25 Cents 1870–1901 Price Guide — primary source for grade-by-grade retail pricing and 9/9 variety values
- NGC World Coin Price Guide — Canada 25 Cents KM 5 (Business Strike)
- NGC World Coin Price Guide — Canada 25 Cents KM 5 (Specimen reference)
- Canadian Coin & Currency — 1901 9/9 ICCS EF-45 Listing — auction and variety confirmation
- The Canadian Numismatic Company — Prominence XI Sale, November 2024 — high-grade variety auction records
- London Coin Centre — 1901 25 Cents PCGS MS-63+ Listing — mid-grade market confirmation
- GoldBroker — Silver Price in CAD and SilverPrice.org — Silver Price Canada — spot price data for melt value calculation (retrieved February 9–10, 2026)
- Numista — Canada 25 Cents KM 5 — technical specifications and diameter reference
- Colonial Acres Coins — 1901 Canada 25 Cents VG-10 — Obverse 5 bust diagnostic reference
- Charlton Standard Catalogue of Canadian Coins — variety attribution, series grading context, and Specimen strike background
Market values represent typical retail asking prices and may vary by dealer, region, and current silver spot price. This guide covers standard (non-error) values only. Prices are not a guarantee of purchase or sale price. Silver melt value fluctuates daily; the figures cited reflect data retrieved February 9–10, 2026.
A note on images: To help illustrate coin diagnostics and rare varieties — especially complex errors that are difficult to describe in text alone — this guide uses AI-generated images. All written values, diagnostics, and variety attributions have been manually reviewed against the cited sources above. While our editorial team works to ensure every image is accurate and helpful, AI-generated illustrations may occasionally misrepresent fine details. If you spot any discrepancy between an image and its written description, please contact us or leave a comment below — we review all feedback and correct errors promptly. Numismatic knowledge is a community effort, and your input helps us build a more accurate resource for everyone.