1931 Canadian 10-Cent (Dime) Value Guide

The 1931 Canadian 10-cent coin marks a historically significant milestone: it was the first dime struck by the newly independent Royal Canadian Mint, formally decoupled from London's Royal Mint and placed under Canada's Department of Finance. With a mintage of 2,067,421, the coin is accessible in circulated grades, but the economic hardships of the Great Depression meant virtually no one set aside fresh-struck coins — making Mint State survivors disproportionately scarce relative to the total production figure. The 80% silver composition ensures that even the most worn example retains precious metal value well above its face value. For the complete series context, see our Canadian Dime Value Guide.

Note: Major mint errors such as off-center strikes and wrong-planchet coins exist for the George V series but are outside the scope of this standard value guide.

1931 Canadian Dime Composition & Melt Value

The 80% silver / 20% copper alloy of the 1931 dime can develop rich natural toning in russet, violet, or gold hues over decades. Attractive original toning on a Gem-grade coin can add a 20–50% premium over a comparable "white" (untoned) example. Never attempt to clean or remove natural toning.

Alloy Composition

The 1931 dime belongs to the 0.800 fine silver standard adopted by the Canadian government in 1920 as a replacement for the former Sterling (.925) standard. The change was driven by post-World War I silver price pressures and the need to maintain a positive seigniorage margin on minting. The 20% copper component renders the alloy harder and more durable than its sterling predecessors, but also makes the coin more susceptible to dark, russet-colored toning over time as copper reacts with atmospheric sulfur compounds.

• Silver: 80.0% (.800 Fine)
• Copper: 20.0%
• Total Weight: 2.33 grams
• Actual Silver Weight (ASW): 0.0600 Troy Ounces (approximately 1.87 grams of pure silver)

Melt Value (February 2026)

Silver markets in early 2026 have exhibited significant volatility. Based on spot price data referenced for this report, the melt value of a 1931 Canadian dime ranges as follows:

• Conservative baseline: Approximately $6.66 CAD (based on ~$3.57 CAD/gram silver)
• High-end estimate: Approximately $9.18 CAD (based on ~$4.92 CAD/gram silver)

The underlying formula is: 2.33 g × 0.800 (silver purity fraction) × [spot price per gram in CAD]. For coins in G4 or VG8 condition, the numismatic premium over melt is modest — the melt value functions as the effective price floor. Once a coin reaches F12 or better, numismatic rarity begins to decouple the price from silver spot, and from MS60 onward the numismatic premium dominates completely.

Magnetic Test (Composition Verification)

A genuine 1931 Canadian dime will not attract a magnet. The 0.800 silver alloy is non-magnetic. If your coin sticks to a standard refrigerator magnet, it is either a modern steel or nickel replica, or a counterfeit — not the original silver issue. As a supplementary acoustic test, silver coins emit a distinct, high-pitched, enduring ring when gently tapped on a hard wooden surface; nickel and steel coins produce a shorter, flatter sound.

1931 Canadian Dime Value Chart by Grade & Finish

The 1931 Canadian 10-cent coin was produced in two finish categories: the Business Strike (standard circulation issue) and the exceedingly rare Specimen (presentation issue). No Proof-Like (PL) sets were produced for this year — a shiny 1931 dime encountered loose is a Business Strike, not a collector set issue. Values synthesize data from the Charlton Standard Catalogue, the NGC Price Guide for Canada 10 Cents KM23a (1920–1936), the Canadian Coin & Currency ICCS MS-65 listing, the PCGS MS-65 listing, and recent auction realizations. All values are in CAD as of February 2026.

Grade progression for the 1931 Canadian dime: heavily worn G4 (~$9.00 CAD), mid-grade VF20 (~$28.00 CAD), and Choice Uncirculated MS63 (~$450.00 CAD). The jump from AU50 ($110) to MS60 ($275) defines the critical "Value Cliff" for this Depression-era issue. (Illustration — not a photo of your exact coin)

1931 Canadian Dime — Business Strike (Circulation)

G4–VG8 values are currently buoyed by elevated silver spot prices (~$6.66–$9.18 CAD melt). If silver retraces, G4–VG8 values may soften toward their lower historical range. From F12 onward, numismatic rarity begins to drive the price above the metal floor.

1931 Canadian Dime — Specimen (SP)

Specimen strikes for 1931 are among the rarest items in Canadian numismatics for the George V era. Produced in minute quantities — likely single-digit or very low double-digit numbers — for official and presentation purposes, they were not distributed to the public. The finish is a distinctive matte or satin texture that absorbs light rather than reflecting it, combined with an unusually sharp strike that fully renders the jewels in the King's crown and the leaf veins on the reverse. The rims are square and wire-sharp, unlike the gently rounded rims of Business Strikes. These coins do not appear in casual circulation; encountering one requires deliberate sourcing from auction archives or advanced specialist dealers.

All values in CAD. For the complete denomination price guide across all George V and other Canadian dime years, see our Canadian Dime Value Guide.

Most Valuable 1931 Canadian Dime Varieties

The 1931 dime does not carry a headline major variety comparable to the famous 1936 Dot issue, but specialist collectors and dealers recognize several documented distinctions that meaningfully affect value. This section separates Trophy-Level pieces (where rarity and condition combine for extreme values) from Findable Varieties that can be identified by a careful collector with a loupe.

A. Trophy-Level Examples

B. Findable Varieties (Loupe Required)

Two key variety diagnostics for the 1931 dime. TOP: "Mark on Crown" — look for a raised lump or gouge on the band of King George V's crown. BOTTOM: "Re-punched Date" — look for a ghost offset image of the "3" or final "1" in "1931." Both require a 5–10× loupe. Correct identification can add 15–25% (Crown) or ~$10–$20 (Re-punched Date) to value. (Illustration — diagnostic positions only)

For additional variety listings and visual references, consult the Saskatoon Coin Club's Canadian 10-Cent Major Varieties guide and the Calgary Coin Canadian dime reference, which documents the Mark on Crown variety in dealer inventory.

1931 Canadian Dime Identification Guide

Before applying values from the tables above, confirm you have a genuine 1931 Canadian 10-cent piece. The following checklist takes approximately 30 seconds with a basic loupe.

Obverse: King George V facing left in the Imperial State Crown — confirm "DEI GRA" in the legend. Reverse: Crossed Maple Boughs with St. Edward's Crown at the apex, "10 CENTS," "CANADA," and date "1931" below the denomination. This is NOT the Bluenose Schooner design, which was not introduced until 1937.

30-Second Identification Checklist

1. Monarch Check: The obverse portrait must be King George V (Crowned Portrait, designed by the Australian sculptor Sir Edgar Bertram MacKennal). Verify the legend contains DEI GRA — "By the Grace of God." The so-called "Godless" controversy of 1911 was corrected by 1912, so all genuine 1931 coins carry this title. If the portrait is King Edward VII (pre-1911) or King George VI (post-1936, without a crown in the earlier portraits), the coin is not a 1931 issue.

2. Reverse Design Check: The correct reverse is the Crossed Maple Boughs with Crown, designed by W.H.J. Blakemore. The Bluenose Schooner design was not introduced until 1937 under King George VI. If you see a sailing ship, the coin is definitively not a 1931 issue — regardless of what a worn date might appear to read.

3. Date Check: Confirm the date reads "1931" in full at the bottom of the reverse. Inspect the last digit carefully to ensure it has not been altered — forgers occasionally modify a "0" (1930) or a "6" (1936) to create a more desirable date from a more common one.

4. Edge Check: The edge must be reeded (milled) — finely grooved around the full circumference. A plain or smooth edge on a coin purporting to be a 1931 dime would be a significant red flag for a counterfeit or wrong-planchet anomaly.

5. Magnet Test (Composition Verification): Place a standard refrigerator magnet against the coin. A genuine 1931 dime (0.800 silver) will not be attracted to the magnet. If the coin sticks, it is not original silver — it is likely a modern steel or nickel replica, or a counterfeit.

The magnet test: a genuine 1931 Canadian dime (.800 silver) is non-magnetic and will not stick to a standard magnet. If your coin is attracted to the magnet, it is not the original silver issue — it is likely a modern steel replica or counterfeit.

6. Marks Check: No mint marks appear on standard 1931 circulation Business Strikes from Ottawa. The absence of any mark — no "C," "O," or "W" — is the correct and expected state for this issue. Do not mistake the absence of a mark as unusual.

7. Finish Identification (Critical Step):

   • Business Strike (the vast majority of all examples): Look for cartwheel luster — a rotating spoke-like reflection visible when the coin is tilted under a directional light source. Microscopic radial flow lines extending from the center toward the rim may be visible under magnification. Bag marks (small nicks from contact with other coins during handling) are common on otherwise uncirculated examples and are a normal characteristic of business strikes.
   • Specimen (extremely rare — produced for official use): Look for a matte or satin finish that absorbs light uniformly rather than reflecting the cartwheel effect. The strike will be unusually sharp — the individual jewels in the King's crown and the veins of the maple leaves will be fully rendered. The rims are square and wire-sharp, not rounded as on business strikes. If your coin displays these characteristics, consult a professional numismatist before selling; the value difference runs into the thousands of dollars.

LEFT: Business Strike — cartwheel luster with radial flow lines and possible bag marks. RIGHT: Specimen — matte/satin surface absorbs light evenly; note the unusually sharp crown detail and square wire-sharp rims. If your coin resembles the Specimen description, consult a specialist before selling. (Illustration — not a photo of your exact coin)

8. Variety Check: If the coin grades VF or better, examine the band of the King's crown under a 5–10× loupe for the Mark on Crown variety (a raised gouge or clash mark), and examine the date digits for the Re-punched Date variety (a ghost offset impression of one of the digits). See the Notable Varieties section for full diagnostics and premium guidance.

1931 Canadian Dime Value FAQs

Methodology & Sources

Values in this guide reflect typical market prices as of February 2026, synthesized from the following authoritative sources:

• Charlton Standard Catalogue of Canadian Coins — primary pricing baseline and variety listings
• NGC Price Guide — Canada 10 Cents KM23a (1920–1936)
• Heritage Auctions — Canadian 10-Cent Archive (SP65 realization)
• Canadian Coin & Currency — ICCS MS-65 listing
• Canadian Coin & Currency — PCGS MS-65 listing
• PCGS Population Report
• Calgary Coin — Canadian Dime Reference (Mark on Crown variety)
• Saskatoon Coin Club — Canadian 10-Cent Major Varieties Guide
• NumisBids — Colonial Acres Coins Spring Premier Auction (April 2024)
• Numista — George V Canada 10 Cents
• Royal Canadian Mint — 10 Cents History

Market values fluctuate with silver spot prices and collector demand. This guide represents a snapshot of February 2026 market conditions. All values are in CAD unless otherwise noted; USD auction results have been converted to CAD using approximate contemporaneous rates as cited in the source document. This guide covers standard (non-error) varieties only.