1912 Canadian 25-Cent (Quarter) Value Guide
Find out what your 1912 Canadian quarter is worth. Complete CAD price guide by grade (G-4 to MS-66) and finish (Business Strike, Matte Specimen SP-65). Sterling silver .925 content and die-state varieties explained.
A circulated 1912 Canadian quarter is worth $20–$350 CAD depending on grade, with its sterling silver content providing a solid floor value. In top Mint State grades the coin climbs to $4,500–$6,000 CAD (MS-65) and beyond.
- Found in circulation / circulated (G-4–VF-20):$20–$75 CAD — partly driven by sterling silver melt value (0.1734 troy oz Ag)
- Lightly circulated to Almost Uncirculated (EF-40–AU-50):$100–$350 CAD
- Mint State (MS-60 to MS-63):$400–$1,500 CAD
- Gem Uncirculated (MS-65):$4,500–$6,000 CAD — condition rarity
- Superb Gem (MS-66):$8,500+ CAD — investment class
- Matte Specimen (SP-65):$5,000–$10,000+ CAD — museum class
Yes, it is silver: The 1912 quarter is struck in Sterling Silver (92.5% Ag), containing 0.1734 troy oz of actual silver — a higher purity than the 80% silver quarters of 1920–1967. Even heavily circulated examples trade well above face value. A shiny or mirror-like example may be an Early Die State business strike with Proof-Like fields rather than a Matte Specimen; finish identification matters greatly. For any coin grading AU-50 or higher, certification by ICCS or PCGS/NGC is strongly recommended. All values in CAD as of February 2026. See full value chart →
The 1912 Canadian 25-cent piece occupies a corrective milestone in the George V silver series: it is the first standard-circulation year to restore the abbreviated DEI GRA (Dei Gratia — By the Grace of God) to the obverse legend, rectifying the controversial omission found on the 1911 "Godless" coinage that had stirred public and ecclesiastical furor across Canada. Struck entirely at the Ottawa Mint in Sterling Silver (.925 fine), it also represents the last major composition standard before the economic pressures of World War I forced a debasement to 80% silver in 1920. For a complete overview of all George V and later quarter dates and grades, see our Canadian Quarter Value Guide.
1912 Canadian Quarter Composition & Silver Content
The Sterling Silver Standard
The 1912 quarter belongs to the Sterling Silver Era of Canadian coinage, struck to the same standard used by British Imperial currency: 92.5% silver and 7.5% copper. This is a higher silver purity than the 80% silver standard Canada would adopt from 1920 through 1967, and is entirely distinct from the nickel and plated-steel compositions of the modern era. The Royal Canadian Mint's history of the 25-cent piece documents this transition from the sterling standard through successive debasements.
The 7.5% copper addition was a metallurgical requirement: pure silver is too soft for circulation use, and the copper additive provides the hardness needed to resist rapid wearing of the relief. That same copper content is also responsible for the rich russet, amber, and gunmetal-blue toning seen on original, untampered examples — a feature highly prized by connoisseurs of "original-skin" sterling silver coins.
Silver Content & Melt Value
Each 1912 quarter contains an Actual Silver Weight (ASW) of 0.1734 troy ounces. This figure constitutes the intrinsic floor for every example, regardless of condition. Because even heavily worn coins contain meaningful silver, low-grade 1912 quarters trade at a premium relative to face value, closely correlated with the prevailing silver spot price. To estimate current melt value, multiply today's CAD silver spot price per troy ounce by 0.1734.
Magnetic Properties — Authentication Diagnostic
A genuine 1912 Canadian quarter should be completely non-magnetic. Sterling silver (92.5% Ag) and copper (7.5% Cu) are both non-magnetic metals, so the coin will not be attracted to a magnet. If a coin presented as a 1912 quarter sticks to a magnet, it is almost certainly a counterfeit or wrong-planchet piece and requires expert examination before any valuation. This simple magnet test provides immediate first-line authentication confidence before any further grading assessment is attempted.
Weight as a Diagnostic Tool
The specified weight of 5.83 grams within a tolerance of ±0.06 g provides a secondary authentication checkpoint. A precise digital scale reading significantly outside the 5.77–5.89 g range warrants scrutiny. Weight testing is especially useful for identifying wrong-planchet coins or counterfeits struck on base-metal substitutes.
1912 Canadian Quarter Value Chart by Grade & Finish
The 1912 Canadian quarter was struck in two distinct categories: the standard Business Strike (circulation coinage produced at volume) and the ultra-rare Matte Specimen (individually struck presentation pieces). Values below reflect typical CAD market prices as of February 2026, drawn from the NGC World Coin Price Guide for Canada 25 Cents KM-24 and dealer references including Colonial Acres Coins and George Manz Coins.
⚠️ Never Clean Your Coins
Cleaning strips original luster and introduces microscopic hairlines visible under magnification. A cleaned 1912 quarter receives a "Details — Cleaned" designation from grading services, eliminating all numismatic premium above melt value. On a coin where MS-63 and MS-65 differ by thousands of dollars, cleaning is a catastrophic and irreversible value destroyer.
1912 Canadian Quarter — Business Strike (Circulation)
Grade comparison across the 1912 Canadian quarter value spectrum, from heavily circulated (G-4) through Choice Uncirculated (MS-63). The crown band is the primary grading diagnostic at every tier. (Illustration — not a photo of your exact coin)
The official mintage of the 1912 quarter is 2,544,199 pieces. While relatively high for the early George V series, this figure is deceptive in high grades: these coins circulated hard through two world wars and a depression. By the time systematic preservation began, most examples had been worn to Good or Very Good. The result is a textbook case of condition rarity — readily available in circulated grades, genuinely rare in Gem Mint State.
| Grade | Condition Description | Market Value (CAD) | Rarity |
|---|---|---|---|
| G-4 | Heavy wear; King's outline visible; crown completely flat; rim may merge with legend tops | $20–$25 | Common |
| VG-8 | Full, distinct rim; braid shows some separation; crown still flat; main facial features clear | $25–$35 | Common |
| F-12 | Sharp legends; main maple leaf veins visible; King's ear beginning to separate from hair | $35–$50 | Available |
| VF-20 | Crown jewels in band show some separation (even if flattened — smooth band cannot grade VF); distinct shoulder fold on robe | $50–$75 | Available |
| EF-40 | Traces of original luster in protected areas around letters; wear limited to peaks of eyebrow and crown band; full leaf veins on reverse | $100–$150 | Scarce |
| AU-50 | 50%+ luster remaining; friction visible only on cheek and crown peaks; no major scratches | $200–$350 | Very Scarce |
| MS-60 | No wear; full cartwheel luster; may carry many bag marks or chatter in the open fields | $400–$600 | Rare |
| MS-63 | Choice Uncirculated; relatively clean fields; strong eye appeal | $1,000–$1,500 | Very Rare |
| MS-65 | Gem Uncirculated; blazing luster; sharp strike with full crown jewel detail; virtually no contact marks in focal areas | $4,500–$6,000 | Extremely Rare |
| MS-66 | Superb Gem; near-perfect surfaces; investment-class example | $8,500+ | Investment Class |
Strike quality note: The 1912 production run prioritized volume over quality. Many uncirculated examples exhibit a "mushy" strike in the crown jewels because dies were used until fatigued. Finding a coin with a full strike — complete separation of all crown jewels — combined with pristine surfaces is exceptionally difficult and commands the highest premiums within each MS grade tier. For coins grading AU-50 and above, certification by ICCS (International Coin Certification Service, the Canadian standard) or PCGS/NGC is essential; raw coins at these grades carry significant market discounting due to the prevalence of cleaning and grading subjectivity.
1912 Canadian Quarter — Matte Specimen (SP)
Business Strike (left) vs Matte Specimen (right): the Business Strike exhibits cartwheel luster; the Matte Specimen shows a uniform, sandblasted satin texture across both fields and devices — no mirror flash, but extraordinary sharpness of detail. (Illustration — not a photo of your exact coin)
The Matte Specimen strikes of 1912 represent the absolute pinnacle of this issue. Produced individually on specially prepared planchets under enhanced striking pressure, these coins were created for dignitaries, museums, and wealthy collectors — never for circulation. Exact records for this era are often incomplete, but it is estimated that fewer than 100 sets were produced, and many have since been broken apart, making single-denomination examples exceptionally scarce.
| Finish | SP-65 | Notes |
|---|---|---|
| Matte Specimen (SP) | $5,000–$10,000+ CAD | Museum-class rarity. Certification by ICCS, PCGS, or NGC is mandatory. The uniform matte texture can be mimicked by oxidized, sandblasted, or chemically treated business strikes — only a certified example should be purchased at this price level. |
The source document provides SP-65 valuation only. SP-63 and SP-67 breakdowns are not documented and are therefore not presented here.
Values in CAD represent typical market prices as of February 2026. For the complete denomination price guide covering all George V and later dates, see our Canadian Quarter Value Guide.
Most Valuable 1912 Canadian Quarter Varieties
The 1912 Canadian quarter is a relatively stable year in terms of catalogued die varieties — it lacks the dramatic named varieties found on certain other George V dates. Value is driven primarily by condition and, at the top end, by finish. Three meaningful non-error variant tiers nonetheless reward the attentive collector.
Early Die State (EDS, left) vs Late Die State (LDS, right): EDS coins show mirror-like Proof-Like fields and crisp device detail; LDS coins display flow lines radiating from center to rim and possible die cracks through the crown or legends. (Illustration — not a photo of your exact coin)
1. Matte Specimen (SP) Strike — Museum Class
The undisputed trophy piece of the 1912 issue. Struck individually on specially polished planchets under high-pressure dies, the Matte Specimen is distinguished by its uniform sandblasted or satin texture across the entire surface — both fields and devices — a stark contrast to both the cartwheel luster of a business strike and the mirror-fields of a modern proof. Production is estimated at fewer than 100 sets, with many subsequently broken apart.
- Documented value (SP-65):$5,000–$10,000+ CAD
- Critical warning: Certification by ICCS, PCGS, or NGC is mandatory. The matte texture can be convincingly simulated by sandblasting, chemical treatment, or heavy oxidation of a business strike. Never purchase a raw coin presented as a Matte Specimen at this price level.
2. Early Die State (EDS) Business Strike with Proof-Like Fields
When production dies are freshly polished, the first coins struck from them carry mirror-like reflectivity in their open fields — a characteristic called "Proof-Like" (PL). As die use accumulates, this quality degrades rapidly into standard cartwheel luster and eventually into flow lines. An EDS 1912 quarter with PL fields is a genuine rarity within the business strike population, offering visual drama approaching that of the Matte Specimen at a considerably lower price point.
- Documented premium: An EDS coin with PL surfaces can command a 50–100% premium over a standard MS coin of the same grade.
- Identification: Mirror-like reflectivity in the open field areas; strong die sharpness on crown jewels. Compare under raking light against a standard MS example. The EDS business strike retains cartwheel luster on device high points — distinguishing it from the Matte Specimen, which has uniform matte texture on both fields and devices with no luster at all.
3. "Dei Gratia" Type Designation — First-Year Restoration (Type 2 Obverse)
While not a die variety in the traditional sense, the 1912 is systematically collected as the "Type 2 Obverse" — the first standard-circulation year of the George V series to bear the complete obverse legend including DEI GRA, restoring the divine title accidentally omitted on the 1911 "Godless" coinage. Album and type collectors specifically target the 1912 as the representative example of this corrected type, adding a layer of demand independent of its standalone numismatic merits.
4. Late Die State (LDS) Die Cracks
As dies fatigued toward the end of their service life, they developed cracks that appear on coins as raised, irregular lines — through legends, across the effigy, or through the wreath. Die cracks on 1912 quarters (for example, a crack through the crown band) are collected by die-variety specialists and add character value. They are not listed as major varieties in standard catalogues, and any premium is modest and collector-dependent rather than broadly established.
5. Re-Punched Devices
Microscopic re-punched varieties exist on 1912 quarters as a result of the hand-punching methods of the era, but no widely recognized major re-punched quarter variety for this date has been catalogued with a significant documented premium. Collectors should carefully distinguish true die doubling (where a separate, offset secondary image is visible in the recessed design elements) from "machine doubling," a common striking artifact that produces a shelf-like secondary image with no collector premium. Refer to the community-documented variety listing at Numista's 1912 Canadian 25-cent reference for current attributions.
1912 Canadian Quarter Identification Guide
Use this 30-second checklist to confirm you have a genuine 1912 Canadian quarter and to identify which finish and die state you are holding before consulting the value tables.
1912 Canadian quarter obverse: MacKennal's Crowned Effigy of King George V. Red circle highlights the crown band — the primary grading diagnostic for all circulated grades. The restored DEI GRA is highlighted with a yellow arrow; its absence on a 1911 coin is the key type distinction.
1912 Canadian quarter reverse: Blakemore's maple wreath design with Imperial Crown at 12 o'clock, "25 CENTS CANADA" centered, and date 1912 at base. The open field areas between wreath and rim are the first place bag marks reveal themselves on uncirculated examples.
30-Second Identification Checklist
- Monarch Check: Obverse shows King George V facing left, wearing the Imperial Crown and Robes of State. Portrait designed by Sir Edgar Bertram MacKennal. The legend reads GEORGIVS V DEI GRA: REX ET IND: IMP: — if DEI GRA is absent, you have the 1911 "Godless" coin, not a 1912.
- Reverse Check: A maple wreath tied with a ribbon surrounds the text 25 CENTS and CANADA, with the date 1912 below. An Imperial Crown sits at the 12 o'clock position. Design by W.H.J. Blakemore.
- Date Check: Confirm the date reads 1912, positioned at the base of the reverse below the wreath.
- Edge Check: The edge is reeded (milled) — uniform vertical grooves around the full circumference. A plain or irregular edge is a sign of a counterfeit or wrong-planchet piece.
- Magnet Test (Composition Verification): Apply a magnet to the coin. A genuine 1912 quarter should be completely non-magnetic — its sterling silver (92.5% Ag) and copper (7.5% Cu) composition contains no ferromagnetic metals. A magnetic response indicates the coin is not a genuine sterling silver example and requires expert examination.
Magnet test: a genuine 1912 Canadian quarter (Sterling Silver, 92.5% Ag / 7.5% Cu) is non-magnetic and will not be attracted to a magnet. Any magnetic response signals the coin requires expert authentication.
- Mint Mark Check: There is no mint mark on the 1912 Canadian quarter — this is correct and expected. By 1912, all domestic silver quarter production had been fully consolidated at the Ottawa Mint, which did not apply a mint mark to domestic silver circulation coinage. The absence of a mint mark confirms Ottawa origin, not an omission.
- Finish Identification (The Critical Step):
- Business Strike (standard): Displays rotating "cartwheel" luster — a sweeping arc of brightness that moves as the coin is tilted under a light source. Open fields may show bag marks or contact marks.
- Early Die State (EDS) Business Strike with PL Fields: Mirror-like reflectivity in the open field areas, combined with strong device sharpness. Still shows cartwheel luster on the device high points (portrait, crown). Not a Specimen.
- Matte Specimen (SP): Uniform sandblasted or satin texture covering the entire surface — fields AND devices alike. No cartwheel flash whatsoever. Exceptional sharpness in crown and portrait detail. Distinguished from modern proofs by the absence of mirror fields; distinguished from altered business strikes by consistency of texture and absence of hairlines under magnification.
⚠️ Matte Specimen Authentication Warning
The Matte Specimen's uniform satin texture can be convincingly mimicked by a business strike that has been sandblasted, heavily oxidized, or chemically treated. Because a certified SP-65 is valued at $5,000–$10,000+ CAD, never purchase a raw (uncertified) coin presented as a Specimen. Only ICCS, PCGS, or NGC certification confirms Specimen status at a level that supports this price tier.
The Crown Band Grading Diagnostic
Crown band grading diagnostic: at VF-20, the jewels in the band must show at least some separation even if flattened — a smooth, featureless band cannot grade VF. At EF-40, wear is limited to the very peaks with original luster still visible in the recesses around the jewels. (Illustration — not a photo of your exact coin)
MacKennal's high-relief portrait places the crown band at the apex of the design's high points, making it the primary grading diagnostic for 1912 quarters:
- G-4 through F-12: Crown band is flat and featureless — no jewel separation is visible.
- VF-20 (critical threshold): The jewels in the band must show some separation, even if they appear flattened. A smooth, unbroken band surface cannot attain VF-20.
- EF-40: Wear is confined to the absolute peaks of the crown band; traces of original luster remain visible in the recessed areas around the letters and within the crown recess.
- AU-50: Friction is visible only at the single highest point of the crown and cheek; substantial luster (at least 50%) is preserved across the surfaces.
- MS-60+: No friction anywhere; full cartwheel luster present. Scrutinize the open field areas on the reverse — the blank space surrounding "25 CENTS CANADA" is the most revealing zone for contact marks in this grade range.
1912 Canadian Quarter Value FAQs
What is a 1912 Canadian quarter worth?
In circulated grades (G-4 through VF-20), a 1912 Canadian quarter is worth $20–$75 CAD, partly driven by its sterling silver content (0.1734 troy oz of silver). Lightly circulated examples (EF-40 to AU-50) range from $100–$350 CAD. Uncirculated coins (MS-60 to MS-63) bring $400–$1,500 CAD. A Gem (MS-65) is valued at $4,500–$6,000 CAD, and the ultra-rare Matte Specimen (SP-65) reaches $5,000–$10,000+ CAD. All values are in CAD as of February 2026.
Is a 1912 Canadian quarter rare?
In circulated grades, no — the 1912 had an official mintage of 2,544,199 pieces and is readily available at coin shows and through dealers in grades up to Fine or Very Fine. However, it is a classic example of condition rarity: the coin is genuinely scarce in MS-65 and essentially unobtainable in MS-66+. The Matte Specimen is rare at any grade, with an estimated production of fewer than 100 sets. The 1912 is common in worn form but becomes a significant acquisition challenge in Gem or Superb Gem condition.
Is my 1912 Canadian quarter silver?
Yes. The 1912 Canadian quarter is struck in Sterling Silver — 92.5% silver and 7.5% copper — containing 0.1734 troy ounces of actual silver. This is a higher silver purity than the later 80% silver standard used from 1920 to 1967. To confirm authenticity: the coin should be non-magnetic, weigh approximately 5.83 grams, and measure 23.62 mm in diameter. Multiply the current CAD silver spot price by 0.1734 to estimate today's approximate melt (intrinsic) value.
What makes a 1912 Canadian quarter most valuable?
Three factors drive top-tier value: (1) Condition — the leap from MS-63 ($1,000–$1,500 CAD) to MS-65 ($4,500–$6,000 CAD) reflects genuine condition rarity, not just incremental grade points; (2) Strike quality — a full strike with complete separation of all crown jewels is disproportionately rare on this date because dies were used until fatigued; and (3) Finish — the Matte Specimen (SP) exists in a separate, higher market. Within the business strike population, Early Die State coins with Proof-Like fields command a documented 50–100% premium over standard MS examples of the same grade.
What is the Matte Specimen (SP) finish on the 1912 quarter?
A Matte Specimen is a coin struck individually on a specially prepared planchet under high-pressure dies, producing a uniform satin or sandblasted texture across the entire surface — both fields and devices. Unlike modern proof coins, which feature mirror-like fields contrasting with frosted devices, the 1912 Matte Specimen has no mirror areas at all. These were produced for dignitaries, museums, and elite collectors — never intended for circulation. Certification by ICCS, PCGS, or NGC is mandatory before any purchase at the documented SP-65 price level of $5,000–$10,000+ CAD.
How do I tell a genuine Matte Specimen from a cleaned or altered business strike?
A genuine Specimen shows extraordinary sharpness of detail — fully squared rims, crisp crown jewels — with a perfectly consistent matte texture across the entire surface. An altered or sandblasted business strike will typically show hairlines or inconsistent surface texture under 5–10× magnification from the treatment process, and the texture often varies between devices and fields. Because no visual inspection by a non-specialist is reliable at this value level, only a certified slab from ICCS, PCGS, or NGC should be accepted as authentication for a Matte Specimen purchase.
What is an Early Die State (EDS) coin and is it worth more than a standard MS?
An Early Die State coin is struck from a freshly polished die that still retains mirror-like reflectivity in its open fields — called "Proof-Like" (PL) fields. As die use increases, this quality fades. An EDS 1912 quarter with PL fields is documented to command a 50–100% premium over a standard MS coin of the same grade, owing to its visual drama and relative scarcity within the business strike population. The key distinction from the Matte Specimen: an EDS business strike still shows cartwheel luster on device high points, while the Matte Specimen has uniformly matte texture everywhere with no luster.
Why does the 1912 quarter say DEI GRA and why does it matter?
DEI GRA abbreviates Dei Gratia (Latin: "By the Grace of God"), the traditional element of the British monarch's title affirming divine right. On the 1911 "Godless" coinage, this abbreviation was accidentally omitted from dies prepared in London, provoking public and ecclesiastical outrage in Canada. The 1912 issue was the corrective response, restoring the full legend GEORGIVS V DEI GRA: REX ET IND: IMP:. This makes the 1912 the sought-after "Type 2 Obverse" in George V quarter collections — directly compared against the 1911 "Godless" Type 1 — and adds a layer of historical demand independent of its grade or rarity.
Should I get my 1912 Canadian quarter certified and graded?
For any example grading AU-50 and above, yes — certification by ICCS (the Canadian standard) or PCGS/NGC (US-based, internationally recognized) is strongly recommended. The raw coin market at these grades is heavily discounted because cleaning and surface alteration are widespread on early silver coinage, and grading subjectivity is significant. For circulated coins in grades below AU-50 (typically valued under $100–$150 CAD), grading fees will generally exceed the numismatic premium above melt value, making certification uneconomical. Any coin presented as a Matte Specimen should be certified before purchase regardless of price.
How does the 1912 quarter compare to the 1915 and 1911 in the George V series?
The 1915 (mintage approximately 242,382) is the acknowledged key date of the early George V quarter series — roughly ten times rarer than the 1912 by production volume — and commands significantly higher prices in every grade. The 1911 "Godless" is scarcer than the 1912 by mintage (approximately 1.72 million) and carries its own variety fame, often commanding a higher price in lower grades. However, in high Mint State grades, the 1912 is comparably difficult to find because fewer examples were deliberately saved as souvenirs compared to the controversial 1911. The 1912 represents accessible value within the series; the 1915 represents prestige scarcity.
Methodology & Sources
Values in this guide reflect CAD market prices as of February 2026, compiled and cross-referenced from the following primary sources:
- NGC World Coin Price Guide — Canada 25 Cents KM-24 (1912–1919)
- Colonial Acres Coins — 1912 Canada 25-Cents MS-62 listing
- Numista — 25 Cents George V Canada
- George Manz Coins — Canadian Silver 25 Cents
- Calgary Coin Gallery — Canadian Quarters for Sale
- J&M's Catalogue of Canadian Coins
- NumisBids — Heritage World Coin Auctions ANA Signature Sale 3075 (August 2019)
- CoinArchives — Canadian Coin Auction Results
- Royal Canadian Mint — History of the 25-Cent Piece
The Charlton Standard Catalogue of Canadian Coins is the primary reference for die variety attribution on George V coinage. Values are point-in-time estimates and fluctuate with silver spot price movements and auction market activity. All values in CAD. This guide covers standard (non-error) strikes only.
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.