1942 Canadian 5-Cent (Nickel) Value Guide: Round Nickel & 12-Sided Tombac

The 1942 Canadian 5-cent piece is one of the most historically significant coins in Royal Canadian Mint history, representing the forced pivot from strategic nickel to the wartime substitute alloy known as Tombac. Two distinct types were produced: a standard round coin in 99.9% Nickel (mintage: 6,847,544) and an emergency 12-sided dodecagonal coin in Tombac (mintage: 3,396,234). Both carry King George VI's obverse effigy and the G.E. Kruger-Gray beaver reverse — a design briefly suspended in 1943 for the famous Victory issue. Because the two types differ in metal, shape, magnetic properties, and value, they must be assessed separately. For value history across all years of the denomination, see our Canadian Nickel Value Guide.

Note: Errors such as off-center strikes exist for 1942 but are outside the scope of this standard value guide.

The two 1942 Canadian 5-cent types side by side: the round 99.9% Nickel (left) and the 12-sided Tombac in golden-yellow brass (right). Shape and magnetism immediately distinguish them.

1942 Canadian Nickel Composition & Melt Value

The year 1942 is defined by a mid-year metallurgical switch driven by Canada's wartime 'Nickel for Armour' program. As the world's primary nickel producer, Canada requisitioned the metal for hardening tank armour, battleship plating, and artillery. The Royal Canadian Mint was ordered to cease nickel coinage and adopt an alternative alloy. Understanding the composition of your coin is the essential first step toward accurate identification and valuation.

Type 1: Nickel (Round)

The early 1942 issues continued the post-1922 standard: a pure nickel planchet. Nickel is physically dense and inert — it does not corrode or tone attractively, generally remaining silver-white or developing only a mild gray haze over decades. Magnetism is the definitive authentication test: place a strong magnet against the coin face. Pure nickel is strongly ferromagnetic and will stick firmly. This simultaneously confirms the Type 1 identification and rules out silver, wrong-planchet copper, or later chrome-plated steel compositions.

The hardness of the nickel planchet created significant production challenges. Dies deteriorated faster under the stress of striking a hard metal, and many coins left the Mint with softly struck details — particularly on the beaver's pelt texture and the King's hair. This is the root cause of why Gem-grade (MS-65 and above) Nickel examples are true condition rarities despite a mintage approaching seven million.

Melt Value: Negligible in numismatic terms. The raw commodity value of a 4.54 g nickel coin fluctuates between approximately $0.05–$0.15 CAD depending on global markets. Even in the lowest collectible grade (VG-8), the numismatic premium is many multiples above any intrinsic metal value.

Type 2: Tombac (12-Sided)

When nickel was requisitioned, the Mint adopted Tombac — a brass alloy historically associated with buttons and decorative hardware. The name derives from the Malay word tembaga, meaning copper. The 12-sided dodecagonal shape was a deliberate functional decision: Tombac oxidizes to a dull brown closely resembling the bronze 1-cent coin. Twelve distinct flat sides provided a tactile differentiator, especially important in low-light or blackout conditions. Both coins weigh the same 4.54 g, so weight alone cannot distinguish them.

Tombac is softer than nickel and strikes up with superior surface detail, often showing crisp beaver fur texture and sharp hair definition on the King's portrait. However, it is chemically reactive. Humidity and sulfur compounds in storage materials cause irreversible black oxidation — commonly called 'carbon spotting' — that permanently depresses collector value. A Tombac coin that retains its original golden-yellow mint bloom commands a massive premium over a browned or spotted example of identical technical grade.

Magnetism: Non-magnetic. The brass alloy contains no ferromagnetic metals, so a magnet will not attract it. This immediately distinguishes Tombac from the Type 1 Nickel and from the chrome-plated steel coins introduced in 1944.

Melt Value: Negligible. The coin is essentially brass with no silver or gold content. Intrinsic metal value is a tiny fraction of numismatic value at every collectible grade.

Edge-on profile comparison of the 1942 Nickel round planchet (left) and the 12-sided Tombac (right), showing the dodecagonal geometry that distinguishes the two types by touch alone.

1942 Canadian Nickel Value Chart by Grade & Finish

The 1942 5-cent market is sharply tiered. Circulated examples of both types are common and affordable. The price curve accelerates dramatically at the MS-64/MS-65 boundary — a 'value cliff' driven by strike difficulty for the Nickel and eye-appeal scarcity for the Tombac. Specimen coins occupy a completely separate price tier. All values are in CAD as of February 2026 per Coins and Canada.

1942 Canadian 5-Cent — Type 1: Nickel (Round) Business Strike

Mintage: 6,847,544. Common in all circulated grades and available in lower Mint State grades from original rolls. Scarcity accelerates sharply above MS-64 due to the inherent striking difficulties of the hard nickel planchet. A fully struck, bag-mark-free MS-65 with a clean cheek on the King's portrait is a genuine condition rarity.

Value Cliff: The jump from MS-64 ($111) to MS-65 ($559) is approximately a 400% increase, reflecting the rarity of fully struck, bag-mark-free Nickel coins. The King's cheek and the beaver's pelt are the critical focal points for graders. Source: Coins and Canada.

Grade comparison for the 1942 Round Nickel: a circulated example (left, approximately EF-40) showing flat high points on the beaver's hip and the King's ear versus a Gem Uncirculated example (right, approximately MS-65) with full cartwheel luster and sharp strike detail. (Illustration — not a photo of your exact coin)

1942 Canadian 5-Cent — Type 2: Tombac (12-Sided) Business Strike

Mintage: 3,396,234. Lower mintage than the Nickel, and lower-grade Mint State examples are widely available because the softer alloy struck up cleanly with minimal die wear. Eye appeal is the hidden multiplier above MS-63. A pristine golden or copper-red Tombac in MS-65 commands premium bids above the listed guide; a heavily spotted example of the same technical grade may trade significantly below it.

Eye Appeal Premium: Listed values represent the standard market for problem-free examples. A spot-free golden Gem (MS-65) can command premiums above the guide price. A heavily spotted MS-65 may realistically trade near MS-62 money. The market explicitly rewards pristine surfaces for Tombac above all other factors. Source: Coins and Canada.

Eye appeal comparison for the 1942 Tombac: a pristine golden-yellow example (left) representing maximum value versus a heavily spotted, browned example (right) at the same technical grade. Eye appeal is the dominant value driver for Tombac above MS-63. (Illustration — not a photo of your exact coin)

1942 Canadian 5-Cent — Specimen (SP) Finishes

Specimen coins were struck individually — or in small pairs — on slower presses using specially prepared dies, producing surfaces that are matte, satin, or semi-mirror in character. They are not Proof coins, and no Proof-Like (PL) sets were produced for this era. Specimens were archival or presentation pieces that survive in very small numbers. Three distinct Specimen varieties are documented for 1942.

Source: Coins and Canada. DC-25 variety catalogued in the Charlton Standard Catalogue of Canadian Coins.

Values in CAD represent typical market prices as of February 2026 for problem-free examples. For the complete denomination price history, see our Canadian Nickel Value Guide.

Most Valuable 1942 Canadian Nickel Varieties

Value in 1942 5-cent coins is driven by condition, finish, and documented varieties. The following represents the full spectrum from major auction trophy assets to collector premiums that can appear in dealer stock or high-quality albums.

A. Trophy-Level Varieties (Major Auction Only)

1. The DC-25 Nickel Specimen — Up to $20,000 CAD

The most valuable non-error 1942 5-cent piece. Catalogued as DC-25 in the Charlton Standard Catalogue, this is a specific Specimen striking of the Nickel variety widely regarded as a trial or presentation piece. It is distinguished from the standard Specimen Nickel by specific diagnostic markers including sharper rims and particular die polish characteristics. An SP-65 example is valued at approximately $20,000 CAD. These coins do not surface through retail or eBay channels — they appear exclusively at major Canadian and US auction houses (Heritage, Stack's Bowers, TCNC, Geoffrey Bell). Professional authentication by ICCS or PCGS is mandatory before any transaction at this level.

The DC-25 Charlton-catalogued Nickel Specimen: sharply squared wire rims and specific die polish diagnostics distinguish it from the standard Specimen Nickel. At SP-65, it is the most valuable non-error 1942 5-cent coin. (Illustration — not a photo of your exact coin)

2. Standard Specimen Nickel — $5,900–$19,600 CAD

Even without the DC-25 distinction, a standard Specimen Nickel is an extremely rare presentation piece. It is identified by its matte or semi-mirror surfaces, sharply squared wire rim, and exceptional strike sharpness that clearly exceeds a Business Strike — particularly in the beaver's fur texture and the King's hair detail. Values run from $5,900 at SP-63 to $19,600 at SP-65; no SP-66 data is documented for the standard Specimen Nickel. Source: Coins and Canada.

3. 1942 Round Nickel — MS-66 Business Strike — $1,100 CAD

A Business Strike Nickel grading MS-66 is a statistically improbable survivor. The hardness of nickel planchets accelerated die deterioration during mass production, leaving most coins with either weakly struck details or bag marks from mint ejection bins. PCGS and ICCS population reports document fewer than a dozen known examples at this grade level; essentially no MS-67 examples have been confirmed for the series. A PCGS MS-66 example realized $1,997 USD at Heritage Auctions in 2014 (approximately $2,600 CAD at historical exchange rates), per PCGS ValueView records. Current guide value: $1,100 CAD.

4. 1942 Tombac — MS-66 Business Strike — $1,070 CAD

A Business Strike Tombac grading MS-66 is a preservation rarity. While the softer alloy strikes up more cleanly than nickel, its chemical instability means most original rolls have developed carbon spotting over the past eight decades. An MS-66 Tombac must show pristine golden or copper-red surfaces with no spotting and no signs of cleaning or artificial enhancement. TCNC (The Canadian Numismatic Company) featured a Superb Gem MS-66 Tombac in their 2025 New Year's Sale with an opening bid estimate of $1,000+. Current guide value: $1,070 CAD.

B. Findable Varieties & Split Points

1942 Canadian Nickel Identification Guide

Identifying the exact type and condition of your 1942 5-cent coin takes approximately 30 seconds using the checklist below. The two types are unambiguously distinguished by shape and magnetism alone.

The 30-Second Identification Checklist

Step 1: The Shape Test (Primary Visual Check)

• Round: Perfectly circular rim with no flat edges → Type 1: Nickel
• 12-Sided (Dodecagonal): Twelve distinct flat edges meeting at obtuse angles, clearly visible around the circumference → Type 2: Tombac

Step 2: The Magnet Test (Primary Physics Check)

Hold a strong magnet against the face of the coin:

• Sticks firmly: The coin is Nickel (Type 1). Pure nickel is strongly ferromagnetic. This also rules out silver (pre-1922 era), wrong-planchet copper, and chrome-plated steel (which was only introduced in 1944).
• Does not stick: The coin is Tombac (Type 2). Brass (88% Cu / 12% Zn) contains no ferromagnetic metals.

The magnet test for 1942 Canadian 5-cent coins: the Round Nickel (left) sticks firmly to a strong magnet; the 12-Sided Tombac (right) shows no magnetic attraction. This is the fastest and most reliable way to distinguish the two types.

Step 3: The Colour Test (Secondary Confirmation)

• Silver-white: Indicates Nickel. Pure nickel is inert and retains its silvery-white appearance, developing only mild gray haze over time.
• Golden-yellow or brown: Indicates Tombac. Fresh Tombac has a distinctive golden-yellow brass appearance. Circulated or improperly stored examples turn chocolate brown and are often mistaken at a glance for a large cent.

Step 4: Reverse Design Confirmation

• Beaver Reverse: Both 1942 types carry the G.E. Kruger-Gray beaver design. There is no 'V' (Victory) design on any 1942 coin — the Victory torch reverse was not introduced until 1943.
• Obverse: King George VI facing left. The legend reads GEORGIVS VI DEI GRA REX ET IND IMP.
• Date: 1942 appears at the bottom of the reverse, flanked by maple leaves.

Step 5: Finish Identification (Critical for Valuation)

The 1942 issue has two documented finishes — Business Strike and Specimen. No PL (Proof-Like) sets were produced for this era. A 'shiny' 1942 5-cent coin is either a high-grade Business Strike or a Specimen, not a Proof-Like.

• Business Strike: Standard cartwheel luster visible as a rotating rainbow when the coin is tilted under a light source. Minor contact marks (bag marks) are expected and acceptable for MS grades.
• Specimen (SP): Struck individually on a slower press with specially prepared dies. Diagnostic features include sharply squared, knife-like wire rims; exceptionally crisp strike detail on both the beaver's fur and the King's hair; and surfaces that are matte, satin, or semi-mirror — distinctly different from Business Strike cartwheel luster. If you believe you have a Specimen, do not attempt to buy or sell it without professional verification from ICCS or PCGS.

Finish comparison for the 1942 Tombac: Business Strike (left) showing cartwheel luster with minor bag marks versus Specimen (right) with sharply squared wire rim, matte die surfaces, and no contact marks. (Illustration — not a photo of your exact coin)

Step 6: Quick Grade Assessment

Examine the beaver's hip (reverse high point) and the King's ear (obverse high point):

• Flat and worn: Circulated. Value range: $0.30–$9.80 CAD (Nickel) or $0.65–$2.90 CAD (Tombac). A historically interesting coin, but not a significant financial asset.
• Sharp with cartwheel luster: Potentially MS-60 or above. Stop — do not touch the surfaces. For Tombac, immediately check for black carbon spots under 5× magnification. A spot-free golden Tombac is the real prize in this series.

Step 7: Grading Service Context

ICCS (International Coin Certification Service) is the standard for Canadian domestic coin transactions — most Canadian dealers price based on ICCS grades, and an ICCS-certified coin is a liquid commodity in Canadian numismatic markets. PCGS and NGC are US-based services preferred for Trophy coins (MS-66+, rare Specimens) targeting international buyers and PCGS Registry Set competition. For coins below MS-65, grading fees typically exceed the coin's value — raw trading is standard practice. Refer to the PCGS educational guide to Canadian Wartime Nickels of 1942–1945 for additional grading and authentication context.

1942 Canadian Nickel Value FAQs

Methodology & Sources

Values in this guide reflect typical retail market prices for problem-free examples as of February 2026 and are sourced from: Coins and Canada 5-cent series (1937–1952) price guide (primary valuation source); the Charlton Standard Catalogue of Canadian Coins (variety attributions including DC-25, mintage data); PCGS ValueView and Population Reports (auction record and census context); the PCGS educational guide to Canadian Wartime Nickels of 1942–1945; the TCNC 2025 New Year's Sale catalogue; Calgary Coin 5-cent variety reference; and the Royal Canadian Mint official 5-cent coin history. Exceptional eye appeal or population scarcity can drive realized prices above listed ranges.