1910 Canadian 5-Cent (Silver Nickel) Value Guide: Edward VII Fish Scale

The 1910 Canadian five-cent coin—affectionately known as the “fish scale” for its tiny proportions—is the final issue of King Edward VII’s reign, struck at the newly established Ottawa Mint during only its second full year of operation. A wafer of sterling silver measuring just 15.5 mm across, it bridges the imperial monetary traditions of the Victorian era with Canada’s emerging national identity. Value varies sharply by grade and, critically, by reverse die variety: the scarce Round Leaves type commands a substantial premium over the common Pointed Leaves in every grade from G-4 through Gem Mint State.

For a complete history of all Canadian five-cent issues across every era, see our Canadian Nickel Value Guide.

Note: Rotational die errors are known to exist for the 1910 issue but are outside the scope of this standard value guide, which covers non-error business strikes and Specimen coins only.

1910 Canadian Nickel Composition & Melt Value

The 1910 five-cent piece is Canada’s smallest decimal coin at 15.5 mm. Its sterling silver composition gives every surviving example a melt value above its 5¢ face value.

The 1910 five-cent coin was struck to the Sterling Silver standard mandated by the Currency Act—92.5% silver and 7.5% copper—a specification inherited directly from the British silver threepence. This is the same alloy as sterling silverware. Its Actual Silver Weight (ASW) is 0.0346 troy ounces.

Melt Value Reference

The silver content establishes a price floor for every 1910 five-cent coin regardless of condition. Document-sourced reference points:

• At $30 CAD/oz silver spot: approximately $1.04 CAD
• At $50 CAD/oz silver spot: approximately $1.73 CAD

Because the ASW is low relative to larger silver denominations (dollars, fifty-cent pieces), the 1910 five-cent coin is rarely targeted for bullion melting in the modern era. However, during the silver price spikes of 1980 and 2011, many worn “slick” examples were sent to smelters, permanently reducing the surviving population of low-grade coins.

Authentication via Physical Properties

• Magnet test: A genuine 1910 five-cent coin is non-magnetic. Sterling silver is not attracted to magnets. Any example that sticks to a magnet is not a genuine silver piece and warrants further investigation.
• Weight: Authentic examples weigh 1.162 grams. Significant deviation may indicate a counterfeit or a wrong-planchet anomaly.
• Specific gravity: 10.3–10.4, consistent with the sterling silver alloy. This test can confirm authenticity when weight alone is inconclusive.
• Die alignment:Medal alignment (↑↑)—flip the coin vertically (top over bottom) and both faces should be upright. The Ottawa Mint adopted this standard upon opening in 1908, replacing the coin alignment (↑↓) previously used by the London Mint for Canadian dies.

1910 Canadian Nickel Value Chart by Grade & Variety

The 1910 five-cent piece is valued on two primary axes: grade and die variety. Identify whether your coin is Pointed Leaves or Round Leaves before consulting the tables below—see the Varieties section for a step-by-step diagnostic guide. All values are estimated market prices in Canadian dollars (CAD) as of 2024–2025, based on published Trends data and auction realizations. For NGC third-party pricing data, see the NGC Canada 5 Cents KM#13 Price Guide.

Grade comparison for the 1910 Canadian five-cent coin showing four condition levels from heavily worn (G-4) to Gem Mint State (MS-65). The population of pristine MS-65 survivors is extremely small after 115 years. (Illustration — not a photo of your exact coin)

Business Strike — Circulated Grades (G-4 to AU-50)

Grading note: Many 1910 nickels have a weakly struck obverse (particularly the King’s ear) because the Ottawa Mint was still refining pressure settings for these thin planchets. A flat ear does not automatically indicate wear—see the Identification Guide for how to distinguish strike weakness from circulation wear. The coin is always graded by its worst side, almost always the obverse. On heavily worn examples (G-4 to VG-8), leaf tips may be abraded smooth; if variety attribution is impossible, default to the lower Pointed Leaves value.

Business Strike — Mint State Grades (MS-60 to MS-65)

Specimen (SP) Strikes

Specimen examples were struck on polished planchets with polished dies for presentation and archival purposes at the early Ottawa Mint. They are not included in the standard mintage figure of 3,850,325 and are extremely rare—likely fewer than 50 known examples across all grading services. Circulated grades (G-4 to AU-50) are marked N/A; genuine Specimens are virtually never found in worn condition.

Values in CAD represent estimated market prices as of 2024–2025. For the complete five-cent denomination price guide, see our Canadian Nickel Value Guide.

Most Valuable 1910 Canadian Nickel Varieties

The 1910 five-cent coin has a binary variety landscape: every business strike is either a Pointed Leaves or a Round Leaves reverse. There are no other widely recognized major varieties for this year—no Large Date, no overdate, no double die obverse with a documented premium. The Specimen strike represents a distinct finish category. Understanding which variety you hold is the single most important valuation factor after grade.

A. Trophy-Level Varieties (Highest Documented Values)

1. Round Leaves — Gem Mint State (MS-65+)

The 1910 Round Leaves in Gem Mint State is the definitive condition rarity of the Edwardian five-cent series. The Round Leaves variety constitutes only approximately 10–15% of the surviving population. Finding one that has survived 115 years without circulation wear, cleaning, or environmental damage is extraordinarily difficult. Documented market values reach $3,000–$4,000 CAD at MS-65, with exceptional eye appeal examples—such as those displaying original rainbow toning—potentially reaching approximately $5,000 CAD.

2. Specimen (SP-65)

Early Ottawa Mint Specimen strikes are presentation-quality coins with a likely surviving population of fewer than 50 examples total across all grading services. At SP-65, documented values reach $1,500+ CAD with significant variability given the small number of recorded transactions. Professional certification is mandatory—see the callout in the Value Chart for details.

B. The Findable Variety: A Cherry-Picker’s Guide to Round Leaves

The Round Leaves variety is frequently misattributed by generalist dealers as the common Pointed Leaves type, creating genuine cherry-picking opportunities for informed collectors. Here is the step-by-step identification process recommended by numismatic references for this issue.

Side-by-side comparison of the 1910 Pointed Leaves (common) and Round Leaves (scarce) reverses under magnification. The sharpness of the leaf lobe tips is the primary diagnostic. (Illustration — not a photo of your exact coin)

Step 1 — Primary Diagnostic: Leaf Tips (5x–10x magnification required)

Examine the maple leaves flanking the denomination “5” in the central reverse wreath:

• Pointed Leaves (Common): The tips of the leaf lobes terminate in sharp, well-defined points. The overall appearance is jagged and crisp. The veins within the leaves are often deeply incised.
• Round Leaves (Scarce): The tips of the leaf lobes are blunt, rounded, and soft. They lack the aggressive angularity of the Pointed variety. The leaf structure appears slightly more organic and less stylized.

The secondary “Crown” diagnostic: the cross pattée atop the Imperial Crown takes a “bow tie” shape on Round Leaves dies and a standard cross form on Pointed Leaves dies. This detail is often more legible than leaf tips on heavily worn coins. (Illustration — not a photo of your exact coin)

Step 2 — Secondary Diagnostic: The Crown “Bow Tie” (especially useful on worn coins)

Examine the Imperial Crown at the top of the reverse. Focus on the cross pattée that surmounts the crown:

• Round Leaves = “Bow Tie”: The cross pattée is shaped distinctly like a bow tie—wider at the ends and pinched in the middle. Round Leaves examples are found only with this bow tie crown element.
• Pointed Leaves = Standard Cross: The cross shows distinct, more clearly defined vertical and horizontal arms.

Relative Population and Premium Scaling

• Pointed Leaves: Approximately 85–90% of surviving population.
• Round Leaves: Approximately 10–15% of surviving population.

The Round Leaves premium increases sharply in higher grades. At AU-50, a Round Leaves example is worth approximately 2.5–3× the equivalent Pointed Leaves value. At MS-65 Gem, the premium exceeds 2.5×, reflecting the acute scarcity of pristine old-hub strikes at that level.

1910 Canadian Nickel Identification Guide

The 1910 Canadian five-cent coin: obverse features King Edward VII in Imperial State Crown and robes of state with the legend EDWARDVS VII D.G. REX IMPERATOR; reverse shows a maple wreath topped by the Imperial Crown with “5 CENTS,” “CANADA,” and “1910.”

30-Second Identification Checklist

1. Monarch check: The obverse shows King Edward VII facing right, wearing the Imperial State Crown and robes of state. Portrait by George William de Saulles (Chief Engraver, Royal Mint, London). The legend reads EDWARDVS VII D.G. REX IMPERATOR (Edward VII, by the Grace of God, King and Emperor). If a different monarch appears, the coin is a different year or series.
2. Reverse check: A maple wreath tied with a ribbon bow at the bottom, surmounted by the Imperial Crown. The center reads “5 CENTS” and “CANADA,” with the date at the bottom rim.
3. Date check: Confirm “1910” at the lower rim of the reverse.
4. Edge check: The edge is reeded (milled). A plain or smooth edge indicates a counterfeit or wrong-planchet anomaly.
5. Magnet test (composition verification): Place a magnet near the coin. A genuine 1910 five-cent piece is non-magnetic (sterling silver is not attracted to magnets). If the coin sticks to the magnet, it is not a genuine silver piece and should be investigated further.
6. Die alignment check: Hold the coin by the date. Flip it vertically (top over bottom). On a genuine 1910 piece, both faces should be upright—medal alignment (↑↑), the Ottawa Mint standard from 1908 onward.
7. Mint mark check: There are no mint marks on the 1910 five-cent coin. The coin was struck exclusively at the Ottawa Mint but carries no mint mark—standard for Canadian circulation coinage of this era.
8. Finish identification (critical for value):
   • Business Strike (MS): Original cartwheel luster radiates from the center toward the rim when the coin is tilted under a single point light source. Contact marks from bag and counting machine handling are normal.
   • Specimen (SP): A matte or satin field surface—uniform and non-directional, not the mirror-like surface of a modern proof. Devices (portrait and wreath) are sharply defined with higher relief than business strikes. The rims are squared and “wire-edged” from higher striking pressure. Professional certification is required to confirm this designation.
9. Variety check — The Bow Tie Test: Examine the top of the Imperial Crown under 5x–10x magnification. A “bow tie” shape at the crown top indicates Round Leaves (scarce). A standard cross indicates Pointed Leaves (common). Confirm by examining the leaf lobe tips: rounded and blunt = Round Leaves; sharp and angular = Pointed Leaves.

Strike and Surface Diagnostics

Weak strike versus actual wear on the King’s ear: a weakly struck ear retains mint luster flowing over the flat area; a worn ear shows dull gray metal with broken luster. This distinction separates an MS-63 from a VF-20. (Illustration — not a photo of your exact coin)

Weak Strike vs. Wear: The Ear Test

The Ottawa Mint was still mastering pressure settings for these thin, small planchets in 1910. Many examples left the mint with incomplete central detail, particularly on the King’s ear—the highest point of the obverse design. To distinguish a weak strike from actual circulation wear:

• Rotate the coin under a single point light source.
• Wear: The flat area on the ear will be dull and gray, with the cartwheel luster broken at that spot.
• Weak strike: The flat area will still show original mint surface texture and luster flowing over the flatness. The luster is not broken—it simply flows over a shallowly struck surface.

The Concave Reverse and the Net Grade Rule

Many 1910 nickels were struck with a slightly convex obverse die and a concave reverse die. This “dishing” effect caused the reverse rim to sit higher than the center, protecting the wreath and date from friction while the central obverse faced greater wear. It is therefore common to find a coin where the reverse grades XF-40 while the obverse only grades VF-20.

Canadian market standards dictate that the coin is graded by its worst side—almost always the obverse. A strong reverse adds eye appeal and can justify pricing at the high end of the grade’s value range, but it does not change the official grade designation.

Business Strike (left) versus Specimen (right): the business strike shows cartwheel luster radiating from the center; the Specimen shows a uniform matte/satin surface with distinctly squared wire-edge rims from higher striking pressure. (Illustration — not a photo of your exact coin)

1910 Canadian Nickel Value FAQs

Methodology & Sources

Values presented in this guide are estimated market prices in Canadian dollars (CAD) as of 2024–2025, synthesized from published Trends data and auction realizations. Primary sources consulted include:

• NGC Price Guide — Canada 5 Cents KM#13 (1903–1910)
• Calgary Coin — Canadian Five-Cent Reference (variety diagnostics and grading standards)
• Saskatoon Coin Club — Edward VII 5-Cent Photo Grading Guide
• Geoffrey Bell Auctions — 1910 Five Cents Auction Record
• Colonial Acres — Varieties of Canadian Five-Cent Coins
• Numista — Canada 5 Cents, Edward VII (KM#13)
• Royal Canadian Mint — 5 Cents History
• Wikipedia — Nickel (Canadian coin)
• Charlton Standard Catalogue of Canadian Coins (current edition)

This guide covers standard (non-error) business strikes and Specimen issues only. Error coins, including rotational die errors documented for this year, are outside scope. Values are estimates; actual realized prices may vary based on eye appeal, provenance, toning character, and market conditions at the time of sale. All prices in Canadian dollars (CAD).