1911 Canadian Five-Cent "Godless" Silver Value Guide (Fish Scale)
What is your 1911 Canadian "Godless" five-cent worth? Full silver price guide: G4 to MS65 ($4.50–$550) and rare Specimen ($350–$6,000+). All values CAD, Feb 2026.
Most circulated 1911 Canadian five-cent "Godless" coins are worth $4.50–$60.00 CAD. In Gem Mint State (MS-65), values reach $550.00. The ultra-rare Specimen finish ranges from $350 to $6,000+.
- Circulated (G4–EF40):$4.50–$35.00
- About Uncirculated (AU50):$60.00
- Mint State (MS-63):$150.00
- Gem Uncirculated (MS-65):$550.00
- Specimen (SP-64):$1,000
- Specimen (SP-67):$6,000+
Is it silver? Yes — all 1911 five-cent coins are Sterling Silver (92.5% Ag), providing an intrinsic melt floor of approximately $3.69 CAD at February 2026 spot prices. You can verify with a magnet: genuine sterling silver is non-magnetic.
Is it shiny or from a set? A coin with a matte, even finish and sharply squared "wire" rims may be a Specimen — an extremely rare issue from official 1911 presentation sets worth far more than a standard business strike. Certification by ICCS, PCGS, or NGC is essential before assigning Specimen values.
Note on the "Godless" name:Every 1911 five-cent coin is "Godless" — the absence of DEI GRATIA is the standard authorized design for this year, not a rare error. The rarity is entirely about condition.
All values in CAD as of February 2026. See full value chart →
The 1911 Canadian five-cent coin stands as one of the most recognized one-year types in Canadian numismatic history. Part of the beloved "Fish Scale" series — tiny sterling silver five-cent pieces produced from 1858 to 1921 — the 1911 issue marks the first year of King George V's coinage in Canada and is the only year in which the Latin phrase DEI GRATIA ("By the Grace of God") was omitted from the obverse legend. The omission occurred because the Royal Mint in London, which supplied master dies to the Ottawa branch, had not yet incorporated the phrase when the inaugural George V dies were prepared. It was corrected starting in 1912, making the 1911 issue a permanent one-year type universally known as the "Godless" five-cent. For pricing across all years of the Canadian five-cent denomination, see our Canadian Five-Cent (Nickel) Value Guide.
Note: While mint errors exist for this year — including off-metal strikes and wrong-planchet coins — they are outside the scope of this standard value guide, which covers non-error examples only.
1911 Canadian Five-Cent Composition & Melt Value
The 1911 five-cent coin was struck to the Sterling Silver standard — the same 92.5% silver purity used by the British Royal Mint. This high-purity alloy gives "Fish Scale" coins their distinctive bright white appearance when fresh, and contributes to the complex toning patterns that develop over more than a century of aging.
Composition Breakdown
| Element | Percentage | Role |
|---|---|---|
| Silver (Ag) | 92.5% | Primary metal; determines bullion value and white appearance |
| Copper (Cu) | 7.5% | Hardening alloy; improves coin durability for commercial circulation |
- Total Weight: 1.162 grams
- Actual Silver Weight (ASW): 0.0346 troy ounces
- Diameter: 15.5 mm — the defining characteristic of the "Fish Scale" series
Melt Value (February 2026)
Using a silver spot price of approximately $3.43 CAD per gram (as of February 7, 2026):
Melt Value Formula: 0.925 × 1.162 g × $3.43 CAD/g ≈ $3.69 CAD
This figure is the theoretical intrinsic metal value. In practice, even heavily worn circulated examples trade above this floor due to collector demand for the "Godless" type — only holed, bent, or otherwise irreparably damaged coins would realistically be valued at melt. In any grade of VG-8 or higher, numismatic value decouples meaningfully from the bullion floor.
Magnetic Properties & Authentication
Sterling silver is non-magnetic. A genuine 1911 five-cent coin will not react to a magnet. This is the first-line defense against counterfeits, which are often struck in magnetic steel or base-metal alloys. If a coin claiming to be a 1911 five-cent attracts a magnet, it is not genuine sterling silver.
A weight test provides secondary authentication: weigh the coin on a precision scale. A genuine example should register approximately 1.16–1.17 grams. Significant deviations — whether too light (suggesting heavy wear or a reduced-weight planchet) or too heavy — warrant further investigation.
⚠️ Never Clean Your Coins
Cleaning strips original lustre and leaves hairlines visible under magnification. A cleaned silver coin is graded "Details — Harshly Cleaned" by ICCS, PCGS, and NGC, and loses 50% or more of its numismatic value regardless of the underlying design detail. Silver toning — even dark patina — is a natural and accepted characteristic of a coin more than a century old. Do not attempt to remove it.
1911 Canadian Five-Cent Value Chart by Grade & Finish
The 1911 "Godless" five-cent coin was produced in two distinct finishes: the standard Business Strike intended for general circulation, and the exceedingly rare Specimen (SP) struck for official presentation sets. These finishes are valued on completely separate scales. All values in CAD as of February 2026. Problem-free, original-surface examples are assumed throughout — cleaned, damaged, or altered coins trade at a substantial discount.
1911 Canadian Five-Cent — Business Strike (Circulation)
Composition: Sterling Silver (92.5% Ag, 7.5% Cu) | Weight: 1.162 g | No mint mark
| Type / Design | G-4 | VG-8 | F-12 | VF-20 | EF-40 | AU-50 | MS-60 | MS-62 | MS-63 | MS-64 | MS-65 (Gem) | Notes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1911 "Godless" — George V (No DEI GRATIA) | $4.50 | $5.50 | $8.00 | $15.00 | $35.00 | $60.00 | $90.00 | $110.00 | $150.00 | $250.00 | $550.00 | Trophy MS-67 examples: ~$1,700–$2,100. "Golden" toned MS-65/66: ~$674–$1,000. Values assume problem-free original surfaces. |
Market Insights: Business Strike
- Low-Grade Plateau (G-4 to F-12, $4.50–$8.00): Values are compressed in the lowest grades, driven primarily by the silver melt floor and basic type demand. These coins appear plentifully in "junk silver" bins and low-end type sets. The numismatic premium above melt is modest at this level.
- Collector's Sweet Spot (VF-20 to EF-40, $15.00–$35.00): A meaningful price jump occurs once the design becomes fully legible — the crown band shows distinct jewels in VF-20, and traces of mint lustre may survive near the lettering in EF-40. The 1911 is notably affordable in mid-grades relative to the ultra-rare 1921 five-cent.
- Mint State Cliff (MS-60 to MS-65, $90.00–$550.00): The escalation above MS-63 is dramatic and reflects genuine condition rarity. The coin's small 15.5 mm diameter made it prone to contact marks from jostling in mint bags. Pristine, mark-free survivors grading MS-65 or higher are statistically uncommon despite a mintage of 3,692,350.
ℹ️ Grading "Fish Scale" Coins — Key Wear Points
The first areas to wear on the 1911 five-cent are the band of King George's crown on the obverse and the central veins of the maple leaves on the reverse. In VG-8, the crown band is worn flat but the date remains clear. In EF-40, wear is confined to the very highest points. In Mint State, there is no wear whatsoever — but the absence of contact marks is equally important for achieving high MS grades.
1911 Canadian Five-Cent — Specimen (SP) Finish
Composition: Sterling Silver (92.5% Ag, 7.5% Cu) | Matte/Satin Finish | Extremely Rare
Specimen coins from 1911 were struck on specially prepared planchets using polished dies, double-struck for exceptional sharpness, and issued within official presentation sets. They were never distributed to the public in bulk. Mintage figures are undocumented in standard circulation ledgers; surviving examples are estimated to number in the low hundreds or fewer. Certification by ICCS, PCGS, or NGC is essential before assigning Specimen-level values to any coin — see the Identification Guide below for diagnostic features.
| Finish | SP-60 | SP-62 | SP-64 | SP-65 | SP-66 | SP-67 | Notes |
|---|---|---|---|---|---|---|---|
| 1911 Specimen | $350 | $500 | $1,000 | $1,800 | $3,500 | $6,000+ | An SP-62 realized ~$477 CAD at auction in 2019; high-grade set components have reached $4,000–$8,100 CAD. See Coins and Canada auction data. |
Market Insights: Specimen
Due to the extremely low surviving population, Specimen prices are highly volatile and depend heavily on individual eye appeal and provenance. A coin showing premium surface quality or desirable natural toning will command results well above the guide values listed. When major collections disperse at auction — such as those from acclaimed Canadian numismatic collections — competition for the finest-known examples can push realized prices significantly beyond catalogue figures. The full 1911 Specimen set (cent through fifty-cent) has realized $4,000–$8,100 CAD at major auction venues.
Values in CAD as of February 2026. For the complete denomination price guide, see our Canadian Five-Cent (Nickel) Value Guide. Market data cross-referenced with the NGC Price Guide — Canada 5 Cents KM-16 (1911) and Coins and Canada 1911 five-cent pricing.
Most Valuable 1911 Canadian Five-Cent Varieties
The 1911 five-cent coin does not present a catalogue of named die varieties in the manner of many other classic Canadian issues. The coin was produced from master dies supplied by London, and the "Godless" obverse — the absence of DEI GRATIA — is the standard authorized design for every 1911 five-cent coin struck. Value in this series is driven primarily by condition and finish, not die variety hunting.
A. Trophy-Level Examples (Not Typical)
The following represent the highest tier of the market — coins whose value reflects condition rarity, finish rarity, or exceptional eye appeal beyond standard catalogue grades.
| Classification | Why It Commands a Premium | Typical Requirement | Documented Value Range (CAD) |
|---|---|---|---|
| Top-Pop Business Strike | Condition Rarity: MS-67 "Fish Scale" coins are statistically rare survivors — often from old hoards or original rolls never put into circulation | PCGS or ICCS MS-67 | $1,700–$2,100 |
| High-Grade Specimen (SP) | Mintage Rarity: Issued only within official 1911 presentation sets; never sold to the public in bulk; the fragile matte finish is unique to this striking process | SP-64 or higher (certified) | $4,000–$8,100 (set component results) |
| "Golden" Toned Gem | Eye Appeal: Silver sulfide toning manifesting as concentric "bullseye" patterns — gold, russet, blue — commands a premium over brilliant white examples of equivalent grade | MS-65 or MS-66 with original color | $674–$1,000 |
B. Findable Distinctions Worth Checking
| Variant / Variety | Charlton Reference | How to Identify | Why It Matters | Typical Premium Impact |
|---|---|---|---|---|
| Specimen (SP) Finish | 1911 SP | Squared-off "wire" rims and a uniform matte/satin surface — no cartwheel lustre under rotating light | Issued only in presentation sets; estimated mintage exceedingly low (undocumented) | 10×–50× premium over equivalent MS grades |
| Re-Punched Date / Lettering | Unlisted | Under magnification, look for doubling or "ghosting" on the "1911" numerals or legend lettering | Die production anomalies of specialist interest | 1.5×–2× premium (niche market) |
| "Godless" Type (Standard) | Standard Issue | Obverse legend reads GEORGIVS V REX ET IND:IMP: — no DEI GRATIA or D.G. present | Mandatory acquisition for type collectors; this is the only type produced in 1911 | Base value — high liquid demand from type collectors |
ℹ️ The "Godless" Coin Is Not an Error — Setting Expectations
A common misconception is that the 1911 "Godless" five-cent is a scarce mint error. It is not. Every single 1911 Canadian five-cent coin — all 3,692,350 business strikes — is "Godless." The omission of DEI GRATIA was the officially authorized design for this inaugural George V year. Finding a circulated 1911 five-cent in a coin jar is not finding a windfall; it is finding a $4.50–$15.00 coin. The real rarity lies in finding one that grades MS-65 or better — or identifying a genuine Specimen.
1911 Canadian Five-Cent Identification Guide
Use this step-by-step checklist to confirm you have a genuine 1911 five-cent coin and to determine whether it may be the rare Specimen finish or the standard Business Strike.
30-Second Identification Checklist
- Monarch Check: The obverse depicts King George V facing left, wearing the Imperial State Crown and parliamentary robe. The portrait was designed by Sir Edgar Bertram MacKennal and marks the first appearance of George V on Canadian coinage.
- Legend Check — The "Godless" Verification: Read the obverse legend. It should read GEORGIVS V REX ET IND:IMP: Confirm that DEI GRATIA (or the abbreviation D.G.) is absent. If D.G. is present anywhere in the legend, the coin is a 1912 or later issue — re-check the date.
- Date Check: Confirm the date 1911 on the reverse.
- Reverse Check: The reverse features two maple leaves with the denomination text. This design is consistent across all 1911 five-cent coins regardless of finish.
- Edge Check: The edge should be reeded — fine vertical grooves running around the circumference. A plain edge indicates a wrong coin or damage.
- Magnet Test (Composition Verification): Apply a magnet to the coin. Genuine Sterling Silver is non-magnetic. If the coin is attracted to the magnet, it is not genuine sterling silver — suspect a counterfeit. See the Composition section for full details.
- Weight Test: On a precision scale, the coin should weigh approximately 1.16–1.17 grams. Significant deviations — either too light or too heavy — warrant further investigation.
- Mint Marks: There are no mint marks on 1911 five-cent coins. This is standard for Canadian circulation coinage of this era — the coin's origin in Ottawa is not indicated by any mark on the coin itself.
The Critical Step: Business Strike vs. Specimen Finish
The most consequential identification task is distinguishing a high-grade Business Strike from a Specimen. This distinction can mean the difference between a $90 coin and a $1,800+ coin. The table below summarizes the key diagnostic features.
| Feature | Business Strike (Common) | Specimen (Rare) |
|---|---|---|
| Lustre | "Cartwheel" effect — a rotating band of brilliance radiates from the center when the coin is tilted under a single light source | Matte or satin — subdued and even; does not produce a cartwheel rotation |
| Rims | Rounded and gently curved in profile | Squared-off and sharp — often called "wire rims" — with near-90° angles; the most reliable diagnostic feature |
| Strike Quality | High-speed production; may exhibit soft detail on the crown band or highest leaf veins | Double-struck with exceptional sharpness; every crown jewel and every maple leaf vein is razor-defined |
| Fields | Subtle die flow lines visible under magnification | Uniform, consistent matte texture without flow lines |
| Contact Marks | Common — small nicks from coins contacting each other in mint bags | Should be absent or minimal — these were individually handled with care |
⚠️ Finish Fraud: The "Added Polish" Fake Specimen
A known form of alteration involves polishing a high-grade business strike and presenting it as a Specimen. The definitive diagnostic remains the rim profile: genuine Specimen rims are squared and sharp; polished business strikes retain their original rounded rim regardless of how aggressively the surfaces have been treated. Never pay Specimen prices for an ungraded coin without independent verification from ICCS, PCGS, or NGC.
⚠️ PVC Damage Risk
Silver coins stored for decades in soft PVC plastic flips may develop a green, waxy residue on the surfaces. If active PVC contamination is visible on a 1911 five-cent, professional conservation using pure acetone (not nail polish remover) is required. Coins with damaged surfaces lose their numismatic premium and revert toward intrinsic metal value.
1911 Canadian Five-Cent Value FAQs
What is a 1911 Canadian five-cent "Godless" coin worth?
Most circulated examples are worth between $4.50 and $60.00 CAD depending on grade (G-4 through AU-50). Gem Mint State examples (MS-65) are worth approximately $550.00, while trophy-grade MS-67 coins have sold for approximately $1,700–$2,100 CAD. The rare Specimen finish ranges from $350 at SP-60 to $6,000+ at SP-67. All values as of February 2026.
Is the 1911 "Godless" five-cent a rare error coin?
No — this is one of the most persistent misconceptions in Canadian numismatics. Every 1911 Canadian five-cent coin is "Godless" because the omission of DEI GRATIA was the officially authorized design for that inaugural year of George V's coinage. The phrase was simply not incorporated into the London-prepared dies in time and was reinstated from 1912 onward. Finding a 1911 five-cent does not mean you have found a rare error; the rarity is entirely a matter of condition, not the legend.
Is my 1911 five-cent coin silver?
Yes. All 1911 Canadian five-cent coins are struck in Sterling Silver — 92.5% silver and 7.5% copper. The coin weighs 1.162 grams and contains 0.0346 troy ounces of actual silver, providing an intrinsic melt value of approximately $3.69 CAD at February 2026 silver spot prices. Verify with a magnet: genuine sterling silver is non-magnetic. If the coin sticks to a magnet, it is not genuine sterling silver.
How do I tell a Business Strike from a Specimen?
The most reliable diagnostic is the rim profile. A genuine Specimen has sharply squared-off "wire" rims with near-right-angle edges; a business strike has rounded, gently curved rims. The surface finish also differs: Specimens show a matte or satin texture without the cartwheel lustre of business strikes, and every design detail is razor-sharp from the double-striking process. Because this distinction carries major monetary consequences, certification by ICCS, PCGS, or NGC is strongly recommended before assigning Specimen-level values.
Should I get my 1911 five-cent coin graded?
Grading is economically worthwhile only when the coin's potential certified value substantially exceeds the cost of submission. For examples grading VF-20 to EF-40 (worth $15–$35), grading fees typically exceed the benefit. However, any coin that appears to grade MS-63 or higher (where values begin at $150 and escalate quickly), or any coin that may be a Specimen, is a strong candidate for certification. ICCS (International Coin Certification Service) is the primary Canadian standard and is known for conservative grading; an ICCS MS-65 holder is considered a blue-chip asset. PCGS and NGC are widely accepted alternatives, particularly for coins targeting international buyers or registry set competition.
What is a "Fish Scale" five-cent coin?
"Fish Scale" is the affectionate collector nickname for the tiny Sterling Silver five-cent pieces produced in Canada from 1858 to 1921. The name refers to their diminutive diameter of just 15.5 mm and their thin, slightly convex profile — both reminiscent of a small fish scale. Because of their small surface area, these coins wore rapidly in circulation and are difficult to find in high grades today. The series concluded with the 1921 five-cent — the coveted "King of Canadian Nickels" — when the denomination transitioned to larger nickel-based coinage beginning in 1922.
What is the difference between ICCS and PCGS/NGC for grading this coin?
ICCS (International Coin Certification Service) is Canada's primary numismatic grading authority and is known for conservative standards. A coin in an ICCS holder is generally regarded as a reliable grade in the Canadian market. PCGS and NGC are US-based services widely accepted by Canadian collectors, and they are often preferred for high-value coins targeting the international market or competitive online registry sets. For a potential 1911 Specimen, any of the three services will provide the authoritative certification needed to confidently attribute and realize full market value.
What does "Top Pop" mean, and how does it affect 1911 five-cent values?
"Top Pop" refers to coins that hold the highest recorded grade in the PCGS or NGC population census. For the 1911 five-cent business strike, the population of MS-67 examples is typically in the single digits or low double digits. When registry set collectors compete for one of these few coins, prices can detach significantly from standard catalogue values — the documented trophy range for MS-67 examples is approximately $1,700–$2,100 CAD. The same dynamic applies to the highest-graded Specimens: a certified SP-67 could command results well above the listed guide value.
Methodology & Sources
Values in this guide represent typical CAD retail market prices as of February 2026 for problem-free, accurately graded examples. Prices for damaged, cleaned, holed, or altered coins will be substantially lower. Realized prices for rare items — particularly Specimen-finish coins and Top-Pop MS-67 business strikes — are highly dependent on individual auction outcomes and may shift materially with any single sale.
Primary sources consulted:
- Charlton Standard Catalogue of Canadian Coins — variety identification, catalogue references, and base pricing structures
- Coins and Canada — 1911 Five-Cent Pricing, Auction Data & Specimen Records
- NGC Price Guide — Canada 5 Cents KM-16 (1911)
- Numista — 5 Cents George V (without DEI GRATIA)
- Calgary Coin — Canadian Five-Cent Reference
- Heritage Auctions, Stack's Bowers & Ponterio, Geoffrey Bell Auctions — realized price records for Specimen and high-grade business strike examples
- GoldBroker — Silver Price in Canadian Dollar (CAD) — February 7, 2026 spot price reference for melt value calculation
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.