1941 Canadian 25-Cent (Quarter) Value Guide
What is a 1941 Canadian quarter worth? Complete price guide by grade and finish: silver melt value (~$16.70 CAD), rare Specimen values, trophy auction records, and current market prices.
Most 1941 Canadian quarters are worth their silver melt value — approximately $16.70 CAD — because the coin contains 0.1500 troy oz of 80% silver. Circulated examples up to Very Fine trade near spot. Gem Uncirculated and Specimen coins carry substantial numismatic premiums well above melt.
- Circulated (G4–VF20):~$16.70 (silver melt floor)
- Extremely Fine (EF40):$22.00
- About Uncirculated (AU50):$34.00
- Uncirculated (MS60):$55.00
- Select/Choice Uncirculated (MS63–MS64):$80.00–$120.00
- Gem Uncirculated (MS65):$350.00
- Trophy Grade (MS67):$11,300+ (auction record)
- Specimen (SP65):$2,200 — extremely rare, fewer than ~100 known
Is it silver? Yes — all 1941 Canadian quarters are 80% silver. A magnet test confirms authenticity: genuine silver shows no attraction. Any magnetic response means the coin is not genuine. Shiny with squared rims / from a set? If the coin has a satin or matte finish with sharply squared rims and virtually mark-free fields, it may be a rare Specimen worth $800+ — seek professional certification before selling. Found in circulation? The silver content alone makes it worth approximately $16.70 CAD regardless of grade. All values in CAD as of February 2026. See full value chart →
The 1941 Canadian quarter is a wartime silver issue from the reign of King George VI, struck entirely at the Royal Canadian Mint in Ottawa with a mintage of 6,654,672. Designed by T.H. Paget (obverse portrait) and Emanuel Hahn (Caribou reverse), it represents a period of intense industrial mobilization when coins entered heavy commercial circulation immediately after striking — making well-preserved examples genuine condition rarities today. The 80% silver composition provides every 1941 quarter with an intrinsic melt value tied to the live silver market, establishing a firm price floor even for the most worn examples. For values across the full George VI quarter series and all Canadian quarter eras, see our Canadian Quarter Value Guide.
Note: Minor production anomalies such as die cracks and rotation errors exist for 1941 but are outside the scope of this standard value guide.
1941 Canadian Quarter Composition & Melt Value
The 1941 Canadian quarter contains 0.1500 troy oz of silver — approximately 4.664 grams of pure silver within a 5.83-gram coin. This gives it a built-in bullion floor value that moves directly with the live silver spot price.
Metallurgical Profile
The 1941 quarter adheres to Canada's "Dominion Standard" of 800 parts silver, 200 parts copper (.800 fine), adopted in 1920 to replace the Sterling (.925) standard of the Victorian and Edwardian eras. The 20% copper content provided the hardness necessary to withstand the rigors of high-velocity wartime commerce.
This composition is distinct from the contemporaneous US Washington Quarter, struck in .900 fine silver. Collectors must use the correct .800 fineness coefficient when calculating intrinsic value — applying .900 will overestimate silver content by 12.5%.
Actual Silver Weight (ASW) & Melt Value
Based on a silver spot price of approximately $111.41 CAD per troy ounce (February 11, 2026):
- Coin Total Weight: 5.83 grams
- Actual Silver Weight (ASW): 0.1500 troy oz (approximately 4.664 grams)
- Melt Value: approximately $16.70 CAD
This melt value is the absolute price floor. A 1941 quarter in any grade — even damaged, cleaned, or bent — is rarely worth less than its silver content in a liquid market. Dealers typically buy circulated examples at 90–95% of spot and sell at a small premium. This makes the 1941 quarter an accessible entry point for the "junk silver" bullion collector: widely available near spot, yet historically significant as a genuine wartime artifact.
Magnetic Properties (Authentication Diagnostic)
Because the 1941 quarter is an 80% silver / 20% copper alloy, it is non-magnetic. Apply a strong magnet to the coin:
- No attraction: Consistent with genuine 80% silver composition. ✓
- Attracted to magnet (sticks): The coin is either a counterfeit or a modern nickel/steel slug. Canadian quarters were never struck in magnetic alloys in 1941. ✗ — Do not value as genuine.
The magnet test is a quick first-line authentication step, especially useful when evaluating coins in bulk junk-silver lots.
Legal Note
The Currency Act of Canada prohibits the melting or defacing of coin of the realm. The melt value above is provided as a market floor reference only, not as guidance to melt coins.
1941 Canadian Quarter Value Chart by Grade & Finish
1941 Canadian Quarter — Business Strike (Circulation)
Grade has a dramatic impact on value for the 1941 quarter. A worn circulated coin is worth its silver melt value; a Gem Uncirculated example with full cartwheel luster and no contact marks can be worth 20× more — and a trophy-grade MS-67 commands more than 600×. (Illustration — not a photo of your exact coin)
| Type / Design | G-4 | VG-8 | F-12 | VF-20 | EF-40 | AU-50 | MS-60 | MS-63 | MS-64 | MS-65 (Gem) | Notes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1941 George VI Caribou | $16.70† | $16.70† | $16.70† | $17.50 | $22.00 | $34.00 | $55.00 | $80.00 | $120.00 | $350.00 | MS-66: ~$1,250 (Torex, June 2016). MS-67: ~$11,300 (Heritage, Oct 2021). See trophy data. |
† Silver Melt Floor: Grades G-4 through F-12 are priced at the silver melt value of approximately $16.70 CAD. Numismatic collector demand for low-grade 1941 quarters is saturated; market price is determined by silver content. VF-20 commands a very modest numismatic premium at $17.50. If the silver spot price changes, recalculate the melt floor using the formula: 0.1500 oz × current CAD spot price.
💡 The Value Cliff
A single grade point in the top tiers carries an outsized price impact. MS-64 ($120) to MS-65 ($350) is nearly a 3× jump. MS-66 to MS-67 represents a further ~9× leap. The 1941 quarter is a classic condition rarity: common in lower grades, but wartime circulation eliminated most pristine survivors. Sources: Coins and Canada — 1941 25-Cent Prices; NGC Price Guide — Canada 25 Cents KM 35.
1941 Canadian Quarter — Specimen Strike (Extremely Rare)
Left: A Business Strike 1941 quarter showing typical spinning cartwheel mint luster. Right: A Specimen strike with its characteristic satin/matte surface, virtually mark-free fields, and sharply squared wire rims — visually distinct from any business strike regardless of grade. (Illustration — not a photo of your exact coin)
Specimen strikes were produced on specially prepared planchets struck twice at higher pressure, yielding a sharper design and a distinctive satin or matte finish quite unlike the mirror-like proofs of later eras. The 1941 Specimen was distributed in presentation sets to dignitaries and sold to a very limited group of numismatists. Estimated survival is fewer than ~100 examples, making auction appearances sporadic — often years apart for Gem-quality coins.
| Finish | SP-63 | SP-64 | SP-65 | SP-66 | SP-67 | Notes |
|---|---|---|---|---|---|---|
| 1941 Specimen | $800 | $1,200 | $2,200 | $4,500 | $8,000+ | ~50×–100× premium vs. Business Strike. Professional certification (ICCS, PCGS, or NGC) required to confirm Specimen status before any transaction. Source: Geoffrey Bell Auctions. |
A PCGS SP-65 realized approximately $2,240 CAD at Stack's Bowers in January 2026, described as an "Impressive near-Gem... RARE Specimen striking." Unlike modern specimen sets produced in the tens of thousands, the 1941 issue's survival count is in the double digits at best — making each auction appearance a market-defining event.
⚠️ Never Clean Your Coins
Cleaning strips the original silver surface and leaves hairlines visible under magnification. A cleaned 1941 quarter is graded "Details" (damaged) and loses all numismatic premium regardless of its underlying detail, reverting to melt value. This is especially destructive for potential Specimen coins, where pristine surface integrity is the entire basis of value.
Values in CAD represent typical market prices for problem-free, uncleaned examples as of February 2026. For the complete denomination price guide across all eras, see our Canadian Quarter Value Guide.
Most Valuable 1941 Canadian Quarter Varieties
A) Trophy-Level: Condition Rarities
The most valuable 1941 quarters are not distinct die varieties — they are standard business strikes that have survived in extraordinary, nearly unattainable condition. Wartime production prioritized volume over quality; most coins entered immediate heavy commercial use. Finding a 1941 quarter with pristine fields, full cartwheel luster, and no contact marks is genuinely difficult. Three factors create these trophy premiums:
- Condition rarity: The vast majority of 1941 quarters are found in VF–AU condition. MS-65 examples are scarce; MS-66 and higher are virtually non-existent in the wild.
- Grade cliffs: A single grade point difference (e.g., MS-64 vs. MS-65) can nearly triple the price.
- Eye appeal: Coins with original natural toning (rainbow, russet, or gold hues) command premiums of 20–50% above "blast white" coins of the same grade.
The "Ear Diagnostic" for grading the 1941 George VI quarter: if the King's ear and the hair directly above it appear flat and gray, the coin is circulated (EF or lower). If they retain original minted frost or texture, the coin is likely About Uncirculated (AU) or Mint State (MS) — a critical distinction separating melt-value coins from numismatic premiums.
| Description | Grade | Realized Price (CAD) | Source | Date | Notes |
|---|---|---|---|---|---|
| Top-Pop Circulation Strike | PCGS MS-67 | ~$11,300 CAD (~$8,100 USD) | Heritage Auctions | Oct 2021 | Finest known or tied for finest. Exceptional luster and strike. |
| Gem Circulation Strike | ICCS MS-66 | ~$1,250 CAD | Torex Auction | June 2016 | "Pristine lustrous issue with absolute gem gold and green tones." |
| Standard Gem Market Price | NGC MS-65 | ~$385 CAD (~$275 USD) | NGC Price Guide | Feb 2026 | Represents standard Gem market price, not an outlier record. |
| Rare Specimen Strike | PCGS SP-65 | ~$2,240 CAD (~$1,600 USD) | Stack's Bowers | Jan 2026 | "Impressive near-Gem... RARE Specimen striking." |
The gap between MS-66 and MS-67 is striking: an MS-66 commands approximately $1,250 while an MS-67 has realized over $11,000. MS-67 is the functional ceiling of the grade distribution for this year, with population counts likely in the single digits.
B) Findable Split Points
Unlike the George VI era's famous 1947 "Dot" or 1936 "Dot" issues, the 1941 quarter is remarkably homogeneous. There are no Charlton-listed major die varieties for this issue. The primary split points are finish-based (Specimen vs. Business Strike) and condition-based (grade cliffs). Minor production anomalies noted by specialists include:
| Split Point | How to Identify | Rarity Reason | Typical Premium |
|---|---|---|---|
| Specimen Strike (SP) | Satin/matte finish, sharply squared wire rims, virtually mark-free fields | Non-circulation presentation issue; fewer than ~100 estimated survivors | ~50×–100× vs. Business Strike |
| Rotation Error | Flip coin vertically; reverse rotated >15° from upright position | Wartime quality-control variability; collected as a minor variety by specialists | $20–$50 premium depending on rotation angle |
| Die Crack (Obverse / Reverse) | Raised, irregular lines of metal breaking the field surface | Late die state; dies used to exhaustion under wartime production pressure | $5–$15 premium (market-dependent) |
ℹ️ Avoid False-Positive Searches
Searching "1941 varieties" online often surfaces two unrelated coins: the 1941 Newfoundland 1¢ "Re-engraved Date" variety and the US 1941 Washington Quarter "Doubled Die Obverse" (FS-101). Neither is a Canadian 25-cent variety. Always confirm references are specifically for the Canadian 1941 quarter before attributing any variety.
1941 Canadian Quarter Identification Guide
Use this 30-second checklist to determine exactly what you have — and whether it warrants professional certification.
1941 Canadian 25-cent coin: the obverse (left) shows King George VI profile facing left with T.H. Paget's portrait and the legend including "IND:IMP" (Emperor of India). The reverse (right) shows Emanuel Hahn's Caribou head facing left with the date "1941" at the right. Reference: Numista — 25 Cents George VI (with IND:IMP).
Step 1 — The Magnet Test (Composition Verification)
Hold a strong magnet to the coin:
- No attraction: Consistent with genuine 80% silver composition. ✓ Proceed to Step 2.
- Attracted (sticks to magnet): The coin is not genuine silver — it is a fake or a modern nickel/steel slug. The 1941 quarter was never struck in a magnetic alloy. ✗ Stop — do not value as a genuine 1941 quarter.
Magnet test for the 1941 Canadian quarter: genuine 80% silver/copper alloy coins show no magnetic attraction. Any sticking response immediately flags the coin as non-genuine silver and requires further investigation.
Step 2 — Design Check (Obverse & Reverse)
- Obverse: Profile of King George VI facing left. Portrait designed by T.H. Paget. Legend runs around the rim.
- Legend check: The inscription must include IND:IMP (Emperor of India). This legend was removed after 1947 — coins dated 1948 and later omit it. If IND:IMP is absent on a coin you believe is dated 1941, re-examine the date carefully.
- Reverse: Caribou head facing left, designed by Emanuel Hahn. Date "1941" appears at the right side of the reverse field. Refer to the Royal Canadian Mint's 25-cent denomination page for series context.
Step 3 — Edge Check
The 1941 quarter has a reeded (milled) edge. Run your fingernail along the edge — it should feel like evenly spaced fine ridges. A plain, smooth, or otherwise anomalous edge indicates a problem requiring expert evaluation.
Step 4 — Mint Mark Check
No documented mint marks exist on 1941 circulation quarters. All examples were struck at the Royal Canadian Mint in Ottawa; the absence of a mint mark is the standard and expected state for this issue. If you observe any impressed letter or symbol below the date or elsewhere on the coin, treat it with caution and seek expert attribution.
Step 5 — Finish Identification (The Critical Value Split)
This is the most important assessment for determining value:
- Business Strike (Common — $16.70 to $350+): Surface shows "cartwheel" luster — a rolling sheen that appears to spin when the coin is tilted under a single light source. Worn examples are dull silver-grey. Fields may show small contact marks or bag marks from commercial handling. Rims are rounded or slightly soft from high-speed production.
- Specimen Strike (Extremely Rare — $800 to $8,000+): A distinct satin or matte finish — softer and less "shiny" than a new circulation coin, but with perfect surface uniformity. Fields are virtually devoid of marks. Rims are extremely sharp and squared-off ("wire rims") — the junction of the rim and field is crisp and well-defined. If your coin matches this description, do not clean it, do not sell it without certification, and submit it to ICCS, PCGS, or NGC immediately.
Step 6 — Condition Triage (The "Ear" Diagnostic)
On George VI quarters, the first area to show circulation wear is the King's ear and the hair directly above it. Use this as your quick triage tool:
- Ear is flat and gray; hair merges into the head: Coin is circulated (EF or lower). Value: approximately melt ($16.70) to $34.00.
- Ear retains some detail; Caribou's eyebrow line is distinct; faint traces of original luster remain near the lettering: Extremely Fine to About Uncirculated. Value: $22.00–$34.00.
- No wear visible on the King's cheekbone or the Caribou's shoulder; full mint luster throughout: Mint State. Value: $55.00 and up.
⚠️ The "Bag Mark" Penalty
1941 quarters were shipped in heavy canvas bags, causing coins to collide repeatedly. A deep contact mark on the King's cheek or the Caribou's neck can drop a coin from MS-65 ($350) to MS-63 ($80) instantly. Pristine facial areas on the King are the single most important factor separating MS-64 and MS-65 examples.
Step 7 — Grading Service Guidance
ICCS (International Coin Certification Service) is the Canadian standard and is notably strict on Mint State grades — an ICCS MS-65 is considered a premier designation in the domestic market. PCGS and NGC are US-based services whose grades generally align with ICCS; their holders may command higher prices internationally through Registry Set competition.
For the 1941 quarter, professional certification makes economic sense only for coins appearing to grade MS-64 or higher, or for any suspected Specimen. Standard grading fees of $30–$50 USD exceed the numismatic value of a typical MS-60 or MS-62 example.
1941 Canadian Quarter Value FAQs
What is a 1941 Canadian quarter worth?
Most 1941 Canadian quarters trade at their silver melt value of approximately $16.70 CAD (based on ~$111 CAD per troy oz silver in early 2026). Circulated coins from G-4 through VF-20 typically fetch $16.70–$17.50. The premium begins to separate from melt at Extremely Fine (EF-40, $22.00) and climbs sharply through Uncirculated grades, reaching $350 at MS-65 and over $11,000 for a documented MS-67 trophy. Rare Specimen strikes start at $800 in SP-63.
Is a 1941 Canadian quarter silver?
Yes. All 1941 Canadian quarters are composed of 80% silver and 20% copper — the "Dominion Standard" alloy used from 1920 onward. The coin contains 0.1500 troy oz of pure silver (approximately 4.664 grams). A magnet test confirms authenticity: genuine silver is non-magnetic. If a magnet sticks, the coin is not genuine. The silver composition remained unchanged for the 25-cent denomination throughout the Second World War, unlike the 5-cent coin, which eventually switched to non-silver alloys for war metal conservation.
Is the 1941 Canadian quarter rare?
In circulated grades, no — with a mintage of 6,654,672 and widespread survival, circulated examples are common and readily available near melt value. However, the 1941 quarter is a genuine condition rarity in Gem Uncirculated (MS-65) and higher grades. Heavy wartime circulation depleted most examples quickly, and pristine survivors are scarce. At MS-66 and above, population counts drop to very low numbers. The Specimen strike, with an estimated survival of fewer than ~100 examples, is extremely rare at any grade.
What makes a 1941 Canadian quarter more valuable?
Four factors drive value above melt: silver content establishes the ~$16.70 floor; grade creates exponential premiums from MS-64 upward; finish separates Specimen strikes (worth 50×–100× a business strike) from standard coins; and eye appeal — original natural toning in gold, green, or russet hues can command a 20–50% premium over "blast white" coins of the same grade. Heavy bag marks in key areas (King's cheek, Caribou's neck) significantly reduce value even when overall luster is strong.
How do I tell if I have a Specimen (SP) 1941 quarter?
A Specimen strike has three distinguishing characteristics: (1) a satin or matte finish — not cartwheel luster, but a softer, uniformly dull sheen; (2) sharply squared wire rims where the rim meets the field at a crisp angle; and (3) virtually mark-free fields with superior surface integrity. If your coin shows all three traits, do not clean it, do not attempt to sell it without certification, and submit it to ICCS, PCGS, or NGC. A confirmed SP-65 is worth approximately $2,200.
Should I get my 1941 Canadian quarter graded?
Certification is cost-effective only if the coin appears to grade MS-64 or higher, or if you suspect it is a Specimen strike. Standard grading fees of $30–$50 USD exceed the numismatic value of a typical MS-60 or MS-62 coin. For MS-64 (~$120) and above, or any Specimen candidate ($800+), certification by ICCS (the Canadian standard) or PCGS/NGC is strongly recommended for maximum market value and buyer confidence. For circulated examples, grading fees are never justified — the value is simply the silver melt floor.
What is the difference between a Business Strike and a Specimen for this coin?
A Business Strike is a standard production coin struck once at normal press speed on a standard planchet for commercial use. It displays cartwheel luster, rounded rims, and often shows contact marks from bag handling. The 1941 Business Strike is worth $16.70–$350+ depending on grade. A Specimen was struck twice at higher pressure on a specially prepared planchet, creating sharply squared wire rims, a distinctive satin/matte surface finish, and nearly mark-free fields. Specimens were issued to dignitaries and a limited list of collectors — fewer than ~100 are estimated to survive — and are worth $800–$8,000+.
How does the silver spot price affect what my 1941 quarter is worth?
For circulated examples (G-4 through VF-20), value moves directly with the silver spot price. Each coin contains 0.1500 troy oz of silver: if silver is at $111 CAD/oz, the floor is approximately $16.70; if silver rises or falls, the floor adjusts proportionally. In Gem Uncirculated and Specimen grades, numismatic collector demand dominates pricing and the coin is less sensitive to daily silver fluctuations. Check a live source such as GoldBroker — Silver Price CAD to calculate the current melt floor before buying or selling circulated examples.
Methodology & Sources
Values in this guide reflect retail market prices for problem-free, uncleaned examples as of February 2026 in Canadian Dollars (CAD). Prices were synthesized and cross-referenced from the following sources:
- Charlton Standard Catalogue of Canadian Coins: Primary baseline for variety attribution and grading terminology throughout this analysis.
- Coins and Canada — 1941 25-Cent Price Guide: Grade-based pricing trends and cross-referencing.
- NGC Price Guide — Canada 25 Cents KM 35 (NGC) and related NGC KM 35 price guide pages: International comparative pricing and market data.
- Heritage Auctions Archives — Canada: Verified realized prices for MS-66/67 and Specimen examples.
- Geoffrey Bell Auctions and Toronto Coin Expo Spring Sale: Canadian market realized prices for Specimen issues.
- GoldBroker — Silver Price CAD: Live silver spot price data for melt value calculation (February 11, 2026: ~$111.41 CAD/oz).
- Numista — 25 Cents George VI (with IND:IMP): Coin specifications and die axis reference.
- Royal Canadian Mint — 25 Cents: Official denomination history and context.
Market values are point-in-time estimates and will shift with silver spot price changes and auction results. Auction records reflect hammer prices and may not include buyer's premiums. Numismatic grades reflect typical retail ask prices. This guide covers standard (non-error) values only; error coins are outside its scope.
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.