1937 Canadian 5-Cent (Nickel) Value Guide

Complete CAD price guide for the 1937 Canadian nickel. Values by grade (VG-8 to MS-66), Matte and Mirror Specimens, die varieties, and the ultra-rare Brass Pattern DC-20.

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Quick Answer

Most circulated 1937 Canadian nickels are worth $0.30โ€“$2.90 CAD. Uncirculated examples begin at $14.00 CAD and climb steeply โ€” a certified Gem MS-65 reaches $187.00 CAD, while a Superb Gem MS-66 commands $2,010.00 CAD.

  • Found in change / worn (VG-8 to VF-20):$0.30โ€“$1.30 CAD
  • Light wear (EF-40):$2.90 CAD
  • Near-Uncirculated (AU-50โ€“AU-55):$6.00โ€“$10.00 CAD
  • Choice Uncirculated (MS-63):$27.00 CAD
  • Gem (MS-65):$187.00 CAD โ€” a significant rarity threshold
  • Matte Specimen (SP-65):$163.00 CAD
  • Matte Specimen (SP-67):$744.00 CAD

All values in Canadian dollars (CAD), based on 2025/2026 market data. Is it shiny and mirror-like? That indicates a Specimen strike โ€” these trade on a separate scale and are listed in their own table below. Is it silver? No โ€” the 1937 nickel is 100% nickel with no precious-metal content and is strongly attracted to a magnet. Numismatic grade, not metal value, drives all meaningful price differences. The dot after the date is a standard design feature present on every 1937 nickel โ€” it is not a rarity. See the full value chart โ†’

The 1937 Canadian five-cent piece is the direct product of a constitutional crisis. When King Edward VIII abdicated in December 1936 after only eleven months on the throne, the Royal Canadian Mint scrambled to produce dies for his successor, King George VI. The result was a landmark issue: new obverse portraiture by Thomas Humphrey Paget paired with a revolutionary new reverse โ€” George Edward Kruger-Gray's Beaver on a Log โ€” that would define Canada's five-cent coin for generations. This guide covers standard business-strike and Specimen values for the 1937 five-cent coin. For the full series, visit our Canadian Nickel Value Guide.

1937 Canadian Nickel Composition

1937 Canadian 5-Cent Specifications
Composition: 100% Nickel | Planchet Strip Thickness: 1.70 mm | Strongly Magnetic | No precious metal content

The 1937 five-cent coin is struck from pure (100%) nickel โ€” a composition that Canada adopted for this denomination in 1922, replacing the small silver "fish scale" five-cent pieces of the earlier era. By 1937, nickel was the firmly established metal of choice, befitting Canada's status as the world's leading nickel producer. The coin contains no silver, gold, or other precious metal; its intrinsic metal value is negligible, and all meaningful numismatic value comes from grade and rarity.

Magnetic Properties: Your Primary Authentication Tool

Because the 1937 nickel is composed of 100% nickel, it is strongly magnetic. A household magnet will firmly attract a genuine 1937 five-cent piece. This test takes seconds and immediately rules out several impostors:

  • Coin is firmly attracted to the magnet: Consistent with the genuine 1937 five-cent nickel composition.
  • Coin shows no magnetic attraction: The coin may be a pre-1922 silver five-cent piece, a coin of another denomination, or a non-Canadian issue. Pure silver and bronze are non-magnetic.

This diagnostic is particularly useful because the 1937 nickel can be superficially confused with silver five-cent coins of the Victorian or Edwardian era. One quick magnet test eliminates that confusion entirely.

How Hardness Shaped the Series

Pure nickel is significantly harder than the silver alloys used in dimes and quarters, or the bronze used in cents. This created a productive challenge at the Mint. The planchet strip for the 1937 issue was rolled to a thickness of 1.70 mm; inconsistencies in rolling thickness or in the annealing (softening) of blanks could cause the metal to resist flowing fully into the deepest recesses of the die. Kruger-Gray's beaver design was particularly demanding โ€” the high relief required to render the fur texture meant that coins with a full strike (complete beaver fur detail at center) are genuinely prized above standard uncirculated examples. The hardness also drove rapid die deterioration: stress fractures, chips, and clashing between dies were common, producing the array of collectible die varieties documented for this issue. See the Royal Canadian Mint's history of the five-cent coin for broader context on the denomination's evolution.

โš ๏ธ Never Clean Your Coins

Cleaning a 1937 nickel with any abrasive or chemical strips the original surface and creates hairlines visible under magnification. A cleaned coin receives a "Details" (damaged) designation from grading services and loses all numismatic premium regardless of its underlying detail โ€” a coin worth hundreds can be reduced to face value by a single misguided polishing attempt.

1937 Canadian Nickel Value Chart by Grade & Finish

Three surface types of the 1937 Canadian nickel side by side: cartwheel Business Strike, flat satin Matte Specimen, and reflective Mirror Specimen

The three surface types of the 1937 Canadian nickel: cartwheel-luster Business Strike (left), flat satin Matte Specimen (center), and reflective mirror-field Mirror Specimen (right). Each finish trades on a completely separate value scale. (Illustration โ€” not a photo of your exact coin)

1937 Canadian Nickel โ€” Business Strike (Circulation)

With a mintage of 4,593,263, the 1937 nickel is common in circulated grades. However, survival rates in high Mint State condition are disproportionately low. These coins entered immediate heavy circulation โ€” transported in canvas bags, passed through countless tills and vending machines โ€” and the hard nickel planchets accumulated bag marks and contact abrasions before they even left the Mint. Estimates place the surviving population above MS-65 in the low thousands at best, and MS-66 examples are genuinely rare registry-level coins.

TypeVG-8VF-20EF-40AU-50AU-55MS-60MS-62MS-63MS-64MS-65MS-66
Standard Business Strike$0.30$1.30$2.90$6.00$10.00$14.00$19.00$27.00$52.60$187.00$2,010.00

All values in CAD. Sources: Coins and Canada โ€” 1937 5-Cent Prices; NGC World Coin Price Guide โ€” Canada 5 Cents KM 33. The document groups VG-8 through VF-20 as a range ($0.30โ€“$1.30) and AU-50/55 as a range ($6.00โ€“$10.00); individual values within each range are presented at the end-points shown.

โš ๏ธ The Grade Cliff: Understanding the Price Jumps

The jump from MS-64 ($52.60) to MS-65 ($187.00) โ€” more than triple โ€” signals that MS-65 is the genuine threshold of scarcity for this issue. The leap from MS-65 to MS-66 ($2,010.00) confirms that finding a 1937 nickel free of significant bag marks is a formidable challenge. For purchases at MS-64 and above, certification by ICCS, PCGS, or NGC is strongly recommended. The MS-64 price point is considered a "sweet spot" โ€” near-gem eye appeal at a fraction of the MS-65 cost.

Grade comparison for the 1937 Canadian nickel showing MS-63, MS-65, and MS-66 surface differences

Grade comparison for the 1937 Canadian nickel: MS-63 (left, visible bag marks across fields), MS-65 (center, near-mark-free surfaces with full luster), and MS-66 (right, flawless surfaces under magnification). The price gap between grades is dramatic. (Illustration โ€” not a photo of your exact coin)

1937 Canadian Nickel โ€” Specimen: Matte Finish

The standard finish for the 1937 official Specimen set was Matte โ€” a satin, sandblasted surface that is flat and non-reflective, designed to showcase the artistry of Kruger-Gray's designs without the distraction of glare. These coins were struck at slower speeds and higher pressure than business strikes, ensuring that every detail of the beaver's fur and the King's hair was rendered razor-sharp. The Matte Specimen's defining characteristic is that it looks deliberately subdued rather than lustrous; a freshly minted Matte Specimen can be mistaken for a lightly worn coin by an inexperienced observer, but under magnification the surfaces show no wear โ€” only the intentional, uniform satin texture.

Approximately 27 Matte Specimen examples have been graded by PCGS, per available set registry data. See the PCGS George VI Five Cents Specimen Set Registry for current population context.

FinishSP-63SP-65SP-67
Matte Specimen$49.00$163.00$744.00

All values in CAD. Source: Coins and Canada โ€” 1937โ€“1952 5-Cent Series Prices.

A notable market anomaly: the SP-65 Matte Specimen ($163.00) is currently priced below a business-strike MS-65 ($187.00), despite the Specimen's superior strike quality and far lower surviving population. Many advanced collectors view this as a relative undervaluation of a historically significant and technically superior coin.

1937 Canadian Nickel โ€” Specimen: Mirror Finish

A small number of 1937 five-cent coins were struck with a Mirror finish โ€” highly polished, reflective fields paired with frosted, sculpted devices. The result closely resembles a modern cameo proof and represents a dramatically different aesthetic from the Matte Specimen. These are among the rarest Canadian coins of the George VI era. Per PCGS set registry data, only approximately 2 Mirror Specimens have been graded โ€” versus 27 Matte examples โ€” making the Mirror finish at least an order of magnitude rarer. Their precise origin is uncertain; they may represent VIP presentation strikes or early trial pieces before the Matte finish was standardized.

FinishSP-63SP-65SP-67
Mirror Specimen$73.50โ€”โ€”

All values in CAD. The SP-63 figure reflects price guide listings per Coins and Canada. Higher-grade price guide data is not available for this finish. With only approximately 2 examples graded by PCGS, this coin exists largely outside conventional price guide frameworks.

โ„น๏ธ Mirror Specimen: A Developing Market

With only approximately 2 examples graded by PCGS, the 1937 Mirror Specimen sits outside the reach of standard price guide modeling. Do not interpret the SP-63 price guide figure as a ceiling โ€” it reflects catalog listings, not the actual realized prices that such extreme rarities command in competitive auction environments. Any example appearing at a major sale would establish a fresh benchmark.

1937 Canadian Nickel โ€” Brass Pattern (DC-20)

The Brass Pattern, cataloged as DC-20 in the Charlton Standard Catalogue of Canadian Coins, is a museum-class rarity and the ultimate trophy of the 1937 series. These trial strikes were produced from a brass or tombac-like copper-zinc alloy rather than pure nickel. They are immediately identifiable by their distinctive golden-yellow color and lighter weight relative to the standard nickel issue. The purpose was likely metallurgical testing โ€” either evaluating how the new Kruger-Gray dies would perform in a different alloy, or anticipating future nickel shortages (which indeed materialized in 1942 when the composition was changed to tombac). Fewer than 10 examples are known to exist. Famous provenance lines include the Norweb, Belzberg, and Cook collections.

Documented auction records:

  • 2019 (Cook Collection): A PCGS SP-65 example sold for $5,750 USD (approximately $7,500 CAD).
  • Heritage Auctions (Norweb/Belzberg pedigree): A SP-64 example sold for $5,462.50 USD. See the Heritage Auctions archive.
TypeSP-63SP-64SP-66
Brass Pattern (DC-20)$4,520$5,200$7,100

All values in CAD. Source: Coins and Canada โ€” 1937โ€“1952 5-Cent Series Prices. For the complete denomination guide, see our Canadian Nickel Value Guide.

Most Valuable 1937 Canadian Nickel Varieties

โš ๏ธ The 1937 Dot: Not a Variety โ€” Read This First

The most persistent misconception in 1937 nickel collecting is the belief that the dot following the date "1937" is a rare mint mark or special variety. It is not. The dot after the "7" in "1937" is a standard design element included by Kruger-Gray for aesthetic balance. Every authentic 1937 business-strike nickel possesses this dot. There is no "No Dot" variety for this issue, and no premium attaches to the presence of the dot. Listings on secondary markets that advertise a "1937 Dot" as a rarity reflect a misunderstanding of the series. The genuine dot-related variety for this coin (Minor Variety #1609) involves an additional dot appearing after the numeral "3" in the date โ€” discussed below.

1937 Canadian nickel date area showing standard dot after 7 versus the minor Dot After 3 variety

The 1937 Canadian nickel reverse showing the standard dot after "7" in the date (present on ALL coins โ€” not a variety) versus the minor variety Dot After 3, where an additional raised dot appears after the "3" in "1937." (Illustration โ€” not a photo of your exact coin)

Trophy-Level Varieties

Two finishes documented in the value chart above constitute the ultimate trophies for specialists: the Mirror Specimen (approximately 2 PCGS-graded examples known) and the Brass Pattern DC-20 (fewer than 10 known, with auction records reaching $7,100 CAD and above). For pricing and details on these, see the Specimen Mirror and Brass Pattern tables above.

Collectable Die Varieties

The Double ADA Variety (Community Database #1281)

The most sought-after findable variety of the 1937 nickel is the Double ADA, in which the letters A, D, and A in the reverse legend "CANADA" exhibit distinct hub doubling. Under a 10ร— loupe, examine the serifs of these three letters: a genuine Double ADA shows a split serif or ghost image offset slightly from the main letter body. This is consistent with a Class II or Class V hub doubling event, where the die received a second impression from the hub with a slight shift in alignment. The variety is scarce and commands a premium over the standard variety, particularly in Mint State grades. It is a documented "sleeper" โ€” often priced by unknowledgeable sellers at the standard variety rate, making it a rewarding find for an alert buyer.

1937 Canadian nickel Double ADA variety close-up showing hub doubling on letters A D A in CANADA

Close-up of the reverse legend "CANADA" on the 1937 nickel Double ADA variety. Red circles highlight the split serifs on the "A," "D," and second "A" โ€” a diagnostic 10ร— loupe check. The standard variety (right) shows clean, single serifs. (Illustration โ€” not a photo of your exact coin)

The Double ANAD Variety

A companion variety, the Double ANAD, exhibits doubling localized to the central letters A-N-A-D within "CANADA." The diagnostic is similar โ€” look for split serifs or ghost images on the affected letters. The shift angle differs from the Double ADA, suggesting a different working die was involved. Both varieties are collected as a set by specialists of the series and are often found priced similarly to the standard issue by sellers unaware of the distinction.

The Double King's Face

A visually dramatic variety, the Double King's Face presents shelf-like doubling on the King's forehead, nose, and chin on the obverse. This is consistent with machine doubling โ€” a die bounce caused by the hard nickel planchet resisting impact. While machine doubling is generally considered less desirable among specialists than true hub doubling, the severity of the visual effect on the King's portrait makes this variety popular and documented as rare for the issue.

Minor Die Varieties

Die Crack โ€” "Cen" (CENTS)

A raised, jagged line runs through the letters "CEN" of the denomination "CENTS" on the reverse. Die cracks appear as raised metal because the fracture in the die allows planchet metal to flow into the gap during striking. This crack indicates a die in structural failure; coins struck late in the die's life will show a more prominent line. Collected as a minor die state variety.

Die crack through CEN in CENTS on the 1937 Canadian nickel reverse showing raised jagged line

Die crack running through "CEN" in the denomination "CENTS" on the 1937 Canadian nickel reverse. The raised jagged line is a classic late-die-state feature caused by metal fatigue in the striking die. (Illustration โ€” not a photo of your exact coin)

Die Chip โ€” "E" on GEORGIVS

A small raised blob of metal appears on the letter "E" in "GEORGIVS" on the obverse. This is a die chip (sometimes called a "cud" when at the rim), formed when a fragment of the hardened steel die breaks away. Subsequent coins struck from the damaged die show raised metal filling the void where the chip was lost.

Die Chip โ€” Under the "3" in Date

A small raised lump of metal located immediately beneath the digit "3" in the date. Like the die chip on "E," this represents a localized break in the die face. Both die chips are collected as documented die state varieties.

Dot After 3 โ€” Minor Variety #1609

This is the genuine dot variety of the 1937 nickel, distinct from the standard design dot after "7." Here, a small raised dot appears after the numeral "3" โ€” the date reads, in effect, "193.7." The source is likely a die gouge or rust pit that mimics a raised dot. It is listed as minor variety #1609 in community databases. While it adds collector interest, particularly in high grade, it does not command the same premium as the hub-doubling varieties.

1937 Canadian Nickel Identification Guide

1937 Canadian nickel obverse showing King George VI portrait with HP initials and reverse showing Beaver on log with KG initials

Obverse: King George VI facing left, legend GEORGIVS VI D:G:REX ET IND:IMP:, designer initials "HP" at the neck truncation. Reverse: Beaver on a log with maple leaves, legend CANADA / 5 CENTS / 1937, designer initials "K.G." visible near the rim.

30-Second Identification Checklist

Work through the following steps to confirm what you have and assess its potential value.

Step 1 โ€” Monarch Check. The obverse should show King George VI facing left. Look for the initials "HP" (Thomas Humphrey Paget) at the base of the neck truncation. The legend reads GEORGIVS VI D:G:REX ET IND:IMP: โ€” note the "IND:IMP:" (Emperor of India) designation, a historical marker of the pre-1947 Imperial coinage era. If the obverse shows a different monarch (George V faces left on pre-1937 coins; a stylistically different portrait would indicate a different issue), you do not have a 1937 nickel.

Step 2 โ€” Reverse Check. The reverse should show a beaver sitting on a log or dam, flanked by two maple leaves, with water beneath. The legend reads CANADA (top arc), 5 CENTS (above the beaver), and 1937 (below). Look for the initials "K.G." (George Edward Kruger-Gray) near the reverse rim. The pre-1937 design was two maple leaves โ€” if you see that reverse, you have a pre-1937 nickel.

Step 3 โ€” Date and Dot Check. Confirm the date reads 1937. You will see a dot immediately after the "7" โ€” this is standard on all 1937 nickels and is not a premium feature. If you see an additional dot after the "3" in the date (making the date read "193.7"), that is the minor variety #1609, which is a documented collectible curiosity.

Step 4 โ€” Magnet Test. Apply a magnet to the coin. A genuine 1937 five-cent nickel is strongly attracted to a magnet due to its 100% nickel composition. Firm magnetic pull = consistent with this issue. No magnetic response = not a 1937 nickel (may be a silver-era piece or wrong denomination).

Step 5 โ€” Mint Mark Check. No mint mark is present on the 1937 five-cent circulation coin. This is standard for Canadian circulation coinage of this era. The only designer-related initials are "HP" (obverse) and "K.G." (reverse) โ€” these are not mint marks.

Step 6 โ€” Finish Identification (Critical for Value).

  • Business Strike: Cartwheel luster that rotates under a moving light source. Will show contact marks (small dings, hairlines) from bag handling. Fields and devices both have the same brilliant character.
  • Matte Specimen: Completely flat, satin, non-reflective surface โ€” almost looks dull. No cartwheel rotation under light. Extremely sharp, squared rim. Details on the beaver's fur will be crisply defined.
  • Mirror Specimen: Highly reflective, glass-like fields. Frosted, sculpted devices with strong contrast against the mirrored fields. If your coin shows this characteristic, treat it as a potentially significant discovery and consult a specialist or grading service immediately.

Step 7 โ€” Strike Quality Check. For uncirculated and Specimen coins, examine the beaver's central fur under magnification. A full strike shows distinct individual fur texture. A weak strike shows a flat, smooth center despite the surrounding luster โ€” the metal did not fully fill the die. Full-strike examples carry a premium over weakly struck coins of the same technical grade.

Strike quality comparison on the 1937 Canadian nickel beaver reverse showing full strike versus weak strike fur detail

Strike quality comparison on the 1937 Canadian nickel beaver reverse: full strike (left) shows crisp individual fur texture on the beaver's flank; weak strike (right) shows a flat, featureless center despite full surrounding luster. (Illustration โ€” not a photo of your exact coin)

Step 8 โ€” Variety Check. With a 10ร— loupe, examine the letters A, D, A in "CANADA" on the reverse. Look for split serifs or ghost images offset from the main letter body โ€” this is the Double ADA variety (#1281). Examine the same area for doubling on A-N-A-D (Double ANAD). Check the obverse King's face (forehead, nose, chin) for shelf-like doubling. Inspect the denomination "CENTS" for a raised die crack through "CEN."

Magnet test on the 1937 Canadian nickel demonstrating strong magnetic attraction due to 100% nickel composition

Magnet test on the 1937 Canadian nickel: 100% nickel composition means a genuine coin is firmly attracted to a magnet. No magnetic pull indicates a different composition โ€” possibly a pre-1922 silver five-cent piece.

โ„น๏ธ ICCS vs. PCGS vs. NGC: Which Grading Service?

ICCS (International Coin Certification Service) is the Canadian standard and tends to be conservative on technical wear. Serious Canadian collectors often prefer ICCS for mid-range coins because the standard is well-understood domestically. PCGS and NGC are US-based services that may weight eye appeal (toning, luster quality) more heavily and provide better resale liquidity in the North American market, particularly for registry-level coins at MS-65 and above. For the 1937 nickel, PCGS certification is most relevant for high-end Specimen and Brass Pattern coins entering the auction market.

1937 Canadian Nickel Value FAQs

What is a 1937 Canadian nickel worth?

A circulated 1937 Canadian nickel in grades VG-8 through VF-20 is worth approximately $0.30โ€“$1.30 CAD. Light wear (EF-40) brings $2.90 CAD. Uncirculated examples start at $14.00 CAD (MS-60) and reach $187.00 CAD at MS-65 and $2,010.00 CAD at MS-66. Matte Specimen coins trade from $49.00 (SP-63) to $744.00 (SP-67). All values in CAD as of 2025/2026.

Is a 1937 Canadian nickel rare?

In circulated grades, the 1937 nickel is common โ€” 4,593,263 were struck, and millions survive in worn condition. It is the "type coin" of the George VI nickel series, meaning it is the most widely purchased example by collectors seeking a single representative piece. True rarity begins at MS-65 and above, where survival estimates suggest only a tiny fraction of the original mintage remains in gem condition. The Matte Specimen, Mirror Specimen, and Brass Pattern DC-20 are genuinely rare in any grade.

Is my 1937 Canadian nickel silver?

No. The 1937 five-cent coin is composed of 100% nickel โ€” no silver content whatsoever. It contains no precious metal, and its intrinsic metal value is negligible. You can confirm this immediately with a magnet: a genuine 1937 nickel is strongly magnetic, while silver coins are not. The silver five-cent pieces of Canada were last issued in 1921, well before this coin was struck.

What is the dot on my 1937 nickel โ€” is it valuable?

The dot immediately following the date "1937" is a standard design element on every authentic 1937 nickel โ€” it was included by designer Kruger-Gray for visual balance and appears on all business-strike examples. It carries no premium. Do not be misled by secondary-market listings advertising the "1937 Dot" as a rarity; this is a common misunderstanding. The genuine dot-related variety for this series is Minor Variety #1609, where an additional dot appears after the numeral "3" (making the date read "193.7") โ€” that is a documented collectible variant, though a minor one.

What makes a 1937 Canadian nickel valuable?

Three factors drive value. First, grade: the dramatic price cliff between MS-64 ($52.60) and MS-65 ($187.00) means that surface preservation is everything. Second, finish: a Matte or Mirror Specimen was intentionally struck for collectors with superior craftsmanship and trades on its own scale. Third, variety: die varieties such as the Double ADA (hub doubling on "A, D, A" in CANADA) are scarce and command premiums above the standard issue, particularly in Mint State. The Brass Pattern DC-20 is in its own category โ€” a museum-class rarity worth thousands.

What is the difference between a Matte Specimen and a Mirror Specimen?

Both are officially struck collector coins from 1937, but their surfaces are opposite in character. The Matte Specimen has a flat, satin, sandblasted finish โ€” deliberately non-reflective, designed to highlight sculptural detail. The Mirror Specimen has highly polished, glass-like reflective fields with frosted, sculpted devices โ€” resembling a modern cameo proof. The Mirror Specimen is dramatically rarer (approximately 2 PCGS-graded examples versus 27 Matte examples) and trades well above standard price guide levels at auction.

How do I tell a Specimen from a Business Strike?

The key test is surface character under a single, moving light source. A Business Strike shows cartwheel luster โ€” a rotating, radiating glow as you tilt the coin. A Matte Specimen shows no rotation at all: the surface is uniformly dull and satin regardless of angle. A Mirror Specimen shows mirror-like reflection in the fields with strong frosted contrast on the devices. Rim sharpness is also diagnostic: Specimens typically have very sharp, squared rims from the careful striking process, while business strikes have slightly softer rims from production-speed striking.

Should I get my 1937 Canadian nickel graded?

The economics of grading depend on the coin's likely grade and finish. Grading fees typically range from roughly $20 to $80+ per coin depending on the service and tier. For a circulated coin worth $0.30โ€“$2.90, grading is not economically justified. At MS-63 ($27.00), grading is borderline. At MS-64 ($52.60) and above, certification becomes important because it authenticates, preserves, and significantly aids resale. For Specimen coins, any grade warrants grading. For the Brass Pattern DC-20, submission to PCGS is essentially mandatory โ€” an uncertified example would be regarded with deep suspicion by any serious buyer.

What are the Double ADA and Double ANAD varieties, and how do I find them?

Both are hub doubling varieties on the reverse legend "CANADA." The Double ADA (community database #1281) shows split serifs or ghost-letter doubling on the letters A, D, and A. The Double ANAD shows similar doubling on the letters A, N, A, and D. Both are identified with a 10ร— loupe: hold the loupe steady and look for a secondary, offset image on the letter's serif edges. These varieties are scarce and often sold by unknowledgeable dealers at the standard variety price โ€” making them rewarding finds for the alert specialist.

What is the Brass Pattern DC-20, and how would I know if I had one?

The Brass Pattern is a trial strike in a copper-zinc (brass or tombac-like) alloy rather than the standard pure nickel. It is identifiable by its golden-yellow color โ€” unmistakably different from the bluish-white of nickel โ€” and its lighter weight. Fewer than 10 are known. If you encounter what appears to be a 1937 five-cent coin in a gold-colored alloy, do not clean it and do not delay โ€” contact a specialized Canadian coin dealer or major grading service immediately. These pieces are cataloged as DC-20 in the Charlton Standard Catalogue and have sold at auction for thousands of dollars in certified form.

Methodology & Sources

Values in this guide are sourced from the following references, accessed in February 2026, and reflect 2025/2026 market conditions in Canadian dollars (CAD). This guide covers standard and Specimen business-strike values only โ€” die varieties are documented but individually priced only where the source material explicitly provides pricing.

Market values are point-in-time estimates and may fluctuate. This guide does not constitute investment advice. Coin grading is subjective; values shown assume coins are genuine and unaltered. ICCS, PCGS, and NGC certification is recommended for all examples at MS-64 and above, and for all Specimen and Pattern coins.

A note on images: To help illustrate coin diagnostics and rare varieties โ€” especially complex errors that are difficult to describe in text alone โ€” 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 โ€” 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.