1945 Canadian 10-Cent (Dime) Value Guide
Find out what your 1945 Canadian dime is worth. Complete price guide covering Business Strike (G4–MS68) and rare Specimen (SP) values with a silver melt floor of ~$5.98 CAD. Key variety diagnostics and identification tips. Values as of February 2026.
A circulated 1945 Canadian dime is worth approximately $5.98–$18.00 CAD — the 80% silver content sets a firm bullion floor of roughly $5.98 CAD at current silver spot prices. In top certified Gem grades, values climb sharply to $225.00 (MS65) and well beyond.
- Circulated (G4–VF20):$5.98–$9.00 — effectively silver bullion value
- Collector grades (EF40–AU50):$12.00–$18.00
- Uncirculated (MS60):$25.00
- Select Uncirculated (MS63):$45.00
- Gem Uncirculated (MS65):$225.00
- Superb Gem (MS67):~$1,500–$2,000
- Specimen (SP63):$1,500–$2,000 — exceedingly rare, fewer than 50 known
- Specimen (SP65):$3,500–$5,000
Found in change or a jar? Any 1945 dime is worth at least ~$5.98 CAD for its silver content regardless of condition. Shiny or from a presentation case? It may be an exceedingly rare Specimen strike — not simply a high-grade Business Strike — see the SP table below. Is it silver? Yes — all genuine 1945 Canadian dimes are 80% silver and will not react to a magnet. All values in CAD as of February 2026. See full value chart →
The 1945 Canadian 10-cent piece belongs to the King George VI series (1937–1952) and features Emanuel Hahn's iconic Bluenose Schooner reverse — the design that has defined the denomination ever since 1937. This is among the final Canadian dimes to carry the ET IND:IMP: (Emperor of India) legend on the obverse, a title removed from Canadian coinage in 1948 following Indian independence, giving the 1945 issue a notable transitional character. Struck exclusively at the Royal Canadian Mint in Ottawa — with no mint mark on circulation strikes — this 80% silver coin circulated heavily through the booming post-war economy. For values across all years and series, see our Canadian Dime Value Guide.
1945 Canadian dime — obverse (King George VI, portrait by T.H. Paget) and reverse (Bluenose Schooner, design by Emanuel Hahn). The ET IND:IMP: legend on the obverse appears only on Canadian coinage through 1947.
Note: Production anomalies such as off-center strikes and brockages exist for the 1945 10-cent piece but are outside the scope of this standard value guide.
1945 Canadian Dime Composition & Melt Value
Alloy Breakdown
The 1945 Canadian dime was struck in the 80% silver / 20% copper alloy used by the Royal Canadian Mint throughout the King George VI era — commonly called Confederation Silver. The high silver content gives the coin its brilliant white appearance when untoned. The 20% copper addition was necessary to harden the alloy for circulation durability; it also drives the vivid blue, purple, and red toning frequently seen on Mint State examples that were stored for decades in sulfur-bearing environments such as old paper envelopes. This toning, when original and undisturbed, can actually enhance collector appeal at the top grade levels.
This composition differs from the sterling (.925) silver used in the United Kingdom and the 90% silver standard used for contemporary United States coinage, affecting both wear patterns and the specific toning characteristics of the coin.
Silver Content and Melt Value
Each 1945 Canadian dime contains a net silver weight (ASW) of 1.864 grams, calculated as 2.33 g × 0.800. Based on a silver spot price of approximately $3.21 CAD per gram ($99.83 CAD per troy ounce) as of February 5, 2026, the intrinsic melt value of a single coin is approximately $5.98 CAD.
This figure represents an absolute price floor. Even a holed, bent, or heavily cleaned 1945 dime retains approximately $5.98 in recoverable silver. In grades G4 through VF20, the coin trades primarily as junk silver — a bullion unit whose market price moves with the daily silver spot price rather than numismatic demand. Collector premiums only begin to accrue meaningfully at Extremely Fine (EF40) condition and above.
ℹ️ Silver Price Fluctuation
The ~$5.98 CAD melt figure is calculated from the February 5, 2026 spot price of $3.21 CAD per gram. If the silver spot price rises, the bullion floor for all G4–VF20 examples rises proportionally. Always verify current silver prices before buying or selling at the melt tier. The melt formula is: Weight (2.33 g) × Purity (0.800) × Current CAD Spot Price per gram.
Magnetic Properties — Authentication Test
All genuine 1945 Canadian dimes are non-magnetic due to their 80% silver and 20% copper composition — neither metal is attracted to a magnet. If a coin marked 1945 sticks to a strong magnet, it is either a counterfeit or a modern plated-steel coin with a misread date. The magnet test is the single fastest authentication check available and should be performed before any grading or valuation assessment. Secondary confirmation: the coin must weigh very close to 2.33 grams on a digital scale — a significant deviation indicates a counterfeit or wrong-planchet piece.
1945 Canadian Dime Value Chart by Grade & Finish
Values below represent typical retail asking prices for problem-free coins (no cleaning, scratches, or corrosion) as of February 2026, all in Canadian dollars. For additional current reference pricing, see the NGC Price Guide for Canada 10 Cents KM 34 (1937–1947) and Coins and Canada — 1945 Dime pricing.
1945 Canadian Dime — Business Strike (Circulation)
| Type / Design | G4 | VG8 | F12 | VF20 | EF40 | AU50 | MS60 | MS63 | MS65 | Notes |
|---|---|---|---|---|---|---|---|---|---|---|
| 1945 King George VI — Bluenose Reverse Ottawa Mint | No Mint Mark | 80% Silver | $5.98 Melt floor | $6.00 | $7.00 | $9.00 | $12.00 | $18.00 | $25.00 | $45.00 | $225.00 | Severe value cliff at MS65. MS67: ~$1,500–$2,000 CAD. MS68: ~$5,500 CAD (Heritage Auctions, 2020). Bag marks on soft silver make Gem+ grades statistically rare. "Full Sail" strikes command 20–30% more (see below). |
ℹ️ The Value Cliff: MS64 to MS65
The jump between MS64 and MS65 is the most significant price break in the 1945 dime market. The soft 80% silver alloy meant coins stored in mint bags rubbed together, creating contact marks on the King's cheek and the open fields of the Bluenose reverse. A coin that survived this process without marks is statistically improbable, which drives extreme premiums at Gem grade and above.
ℹ️ "Full Sail" Strike Premium
War-time dies were frequently used past their prime, eroding the detail on the Bluenose's sail bands. Collectors pay a documented premium of 20–30% over the standard list price for examples where the vertical bands of the sails are fully separated and distinct. Examine the sail area under magnification before purchase.
Grade comparison: a heavily worn circulated 1945 Canadian dime (left, trading near the silver melt floor) vs. a Gem Uncirculated MS65 example (right, ~$225 CAD). Note the cartwheel luster and clean, unmarked fields on the high-grade example. (Illustration — not a photo of your exact coin)
⚠️ The "Slider" Problem
Many coins sold as "Uncirculated" are actually AU55 "Sliders" — coins that saw brief circulation before being set aside. To detect wear, examine the King's eyebrow and the tuft of hair above the ear — the highest points on the obverse. A slight color change from white to grey, or a break in luster on these high points, confirms AU rather than MS grade, dropping value accordingly.
1945 Canadian Dime — Specimen (SP)
The 1945 Specimen dime was not distributed in the cardboard or pliofilm sets familiar to modern collectors. These strikes were presented to dignitaries or sold in small groups to specialist collectors of the era. Survival estimates suggest fewer than 50 examples may exist. For a documented realized price, see the PCGS auction record for the 1945 SP65 (PCGS-certified), which realized approximately $4,080 USD (~$5,500 CAD) through Heritage Auctions.
| Finish | SP63 | SP65 | SP67 | Notes |
|---|---|---|---|---|
| Specimen (SP) Ottawa Mint | No Mint Mark | Satin/Matte Finish | $1,500–$2,000 | $3,500–$5,000 | $8,000+(Est.) | Fewer than 50 known. Characterized by satin or matte finish, squared rims, and smooth uniform fields. Cameo contrast examples (frosted devices against mirrored fields) command a premium of 50–100% over standard SP prices. PCGS SP65 realized ~$5,500 CAD at Heritage Auctions. |
All values in CAD represent typical market prices as of February 2026. For the complete denomination price guide across all years, see our Canadian Dime Value Guide.
Most Valuable 1945 Canadian Dime Varieties
The 1945 10-cent issue does not possess a single famous variety comparable to the 1936 Dot. The primary drivers of exceptional value are condition rarity (surviving the soft silver and bag-mark problem) and finish rarity (the Specimen strikes). Beyond these, war-era die re-engraving created several specialist varieties findable in dealer stock with careful magnification.
A. Trophy-Level: Highest Documented Values
| Coin | Why It Commands a Premium | Documented Value (CAD) | Source |
|---|---|---|---|
| 1945 Specimen — SP65 (PCGS) | Absolute rarity: fewer than 50 survivors estimated. Unique satin/matte finish never offered in public collector sets. Missing from even advanced collections. | ~$5,500 CAD (~$4,080 USD realized) | Heritage Auctions — PCGS SP65 Auction Record |
| Superb Gem Business Strike — MS68 | Condition rarity: virtually no marks under 5× magnification. Statistically improbable on soft 80% silver struck with war-era dies. | ~$5,500 CAD (~$4,080 USD) | Heritage Auctions (2020) |
| MS67 "Pop Top" | Eye appeal and scarcity. Coins at this level often exhibit spectacular rainbow toning from long-term storage in sulfur-rich paper envelopes. | ~$1,500–$2,000 CAD | Coins and Canada |
B. Findable Die Varieties Worth Checking
During the 1940s, the Royal Canadian Mint was under sustained pressure to produce coinage for the war effort. Dies were re-engraved and repaired to extend their service life, resulting in the following specialist varieties. All require magnification to confirm. None carry an official Charlton catalogue number — they are tracked by specialists.
| Variety | Catalogue # | How to Identify | Typical Premium |
|---|---|---|---|
| Re-engraved Date | Unlisted (Specialist) | Under magnification: look for shelving or secondary outline contours on the 9 and 4 of the date — evidence of hand-tooling on the working die to correct wear. | 10–20% over base MS grade |
| Doubled "10 CENTS" | Unlisted (Specialist) | Under magnification: doubling visible on the denomination text below the Bluenose ship. A form of mechanical or hub doubling distinct from the date. | $10–$20 premium in EF/AU grades |
| Die Clash ("Ghost") | N/A | Faint outline of the King's profile visible on the ship's sails (reverse), or a faint ship-hull impression on the King's neck (obverse) — caused when dies struck each other without a coin blank between them. | $5–$15 (novelty value) |
Close-up diagnostic for the Re-engraved Date variety: under 10× magnification, look for secondary outlines or shelving on the digits 9 and 4 in the date "1945." This hand-tooling evidence appeared when war-era working dies were repaired to extend their service life. (Illustration — not a photo of your exact coin)
⚠️ The Newfoundland Trap — Not a Canadian Variety
The most common misidentification for 1945 is the Dominion of Newfoundland 10-cent piece. It is not a variety of the Canadian dime but a completely separate country's coinage (Newfoundland did not join Confederation until 1949). The diagnostic is simple: look at the reverse below the date. A small "C" mint mark indicates a Newfoundland coin (mintage ~175,000) — not a Canadian coin. Canadian 1945 dimes carry no mint mark. The two issues have entirely different valuation tables. See Newfoundland ten cents (Wikipedia) for further reference.
1945 Canadian Dime Identification Guide
Use this 30-second checklist to confirm you have a genuine 1945 Canadian dime before consulting the value tables. The single most critical step — the mint mark check — takes only seconds and can reveal whether a coin is worth $6 or significantly more.
30-Second Identification Checklist
Monarch Check: The obverse must show King George VI, designed by T.H. Paget. The legend reads GEORGIVS VI D:G:REX ET IND:IMP: The presence of ET IND:IMP: (Emperor of India) is an era diagnostic for the 1937–1947 sub-period within the King George VI series — this title was removed from Canadian coinage in 1948. If the obverse shows Queen Elizabeth II, the date has been misread.
Reverse Check: The reverse must depict the Bluenose Schooner, designed by Emanuel Hahn, with the legend CANADA and denomination 10 CENTS below the ship. This design was introduced in 1937 and continues on the Canadian dime to this day.
Date Check: Confirm the date reads clearly as 1945. Heavy wear on adjacent years can create misread dates — a worn 1946 can resemble 1945 and vice versa. When in doubt, trace the curves of each digit carefully.
Edge Check: The edge must be reeded (uniform vertical milled grooves). A plain edge on a coin of this type indicates a wrong planchet or counterfeit.
Mint Mark Check — The "C" Trap (Critical): Examine the coin's reverse below the date 1945. No letter = Canadian 1945 dime (the subject of this guide). A small "C" below the date = Newfoundland 1945 dime, a completely separate legal tender issue struck in Ottawa for the Dominion of Newfoundland, with its own distinct value metrics and a mintage of approximately 175,000.
The critical mint mark check: LEFT shows the reverse of a Canadian 1945 dime with no mint mark below the date — the coin covered in this guide. RIGHT shows a Newfoundland 1945 dime with the small "C" mint mark below the date. These are two entirely separate coins with different values. (Illustration — not a photo of your exact coin)
Magnet Test — Composition Verification: Hold a strong magnet to the coin. A genuine 1945 Canadian dime is 80% silver and will show no magnetic reaction whatsoever. A coin that sticks to the magnet is either a counterfeit or a modern plated-steel issue with a misread date. Secondary weight confirmation: the coin must weigh very close to 2.33 grams on a digital scale — a significant deviation is a red flag for an altered or counterfeit coin.
The magnet test: a genuine 1945 Canadian dime (80% silver) will not attract to a strong magnet. A magnetic reaction is an immediate red flag for a counterfeit or wrong-metal coin.
Finish Identification — Business Strike vs. Specimen:
- Business Strike (normal, the vast majority of 1945 dimes): Exhibits a rotating "cartwheel" luster when tilted under light — a spoke-like beam of brilliance that sweeps around the coin. Even Mint State examples will typically carry small "bag marks" from contact with other coins in mint bags. Fields show microscopic flow lines radiating from the center.
- Specimen (SP) — Exceedingly Rare (fewer than 50 known): Exhibits a quiet satin or matte sheen — no cartwheel effect. The rim features a sharply "squared-off" near-90-degree angle rather than the slightly rounded rim of a Business Strike. Fields are smooth and uniform, lacking the flow lines of a circulation strike. The devices (King's portrait and Bluenose ship) may appear slightly frosted. If you believe you have a Specimen, professional authentication by ICCS or PCGS is essential before any transaction.
Finish comparison: LEFT shows a Business Strike 1945 dime with characteristic cartwheel luster and radial flow lines in the fields. RIGHT shows the rare Specimen finish with a quiet satin sheen, sharply squared rim, and smooth uniform fields. (Illustration — not a photo of your exact coin)
Variety Check (Optional — requires magnification): For the Re-engraved Date variety, examine the digits 9 and 4 of the date under 10× magnification and look for secondary outline contours or shelving indicating die re-engraving. For the Doubled "10 CENTS" variety, examine the denomination text on the reverse below the ship. See the Variants section for full diagnostics.
⚠️ Never Clean Your Coins
Cleaning destroys the original luster and leaves hairlines visible under magnification. A cleaned 1945 dime is graded "Details" (damaged) and loses all numismatic premium, reverting to its silver melt value of approximately $5.98 CAD. A dipped coin appears flat white and lifeless; a polished coin looks shiny but lacks authentic cartwheel luster. Neither can be remediated.
⚠️ PVC Damage Risk
Silver coins stored in soft vinyl plastic flips from the 1970s and 1980s may develop green, oily PVC residue that actively etches the silver surface. If caught early, conservation by a professional using pure acetone (not nail polish remover, which contains additives) can halt the damage. Coins showing active PVC etching or resulting surface pitting revert to melt value regardless of original grade.
1945 Canadian Dime Value FAQs
What is a 1945 Canadian dime worth?
A circulated 1945 Canadian dime is worth approximately $5.98–$18.00 CAD depending on grade, anchored by an 80% silver melt floor of ~$5.98. Uncirculated examples range from $25.00 (MS60) to $225.00 (MS65), with Superb Gem grades commanding $1,500–$5,500+ CAD. The exceedingly rare Specimen (SP) strikes start at $1,500–$2,000 at SP63, reflecting a survival estimate of fewer than 50 examples.
Is a 1945 Canadian dime made of silver?
Yes — all 1945 Canadian dimes are struck in 80% silver and 20% copper, giving each coin approximately 1.864 grams of pure silver. This composition was standard for Canadian dimes from Confederation through 1967. Canada switched 10-cent coins to pure nickel beginning in 1968, so any genuine 1945 dime is definitively a silver coin.
Is my 1945 Canadian dime magnetic?
No. A genuine 1945 Canadian dime is non-magnetic — silver and copper are both non-magnetic metals. If your coin sticks to a magnet, it is either a counterfeit or a modern plated-steel Canadian coin with a misread date. Post-1999 Canadian dimes use plated steel cores and are magnetic, so the magnet test is a reliable way to quickly distinguish genuine silver 1945 examples from fakes or misidentified modern coins.
What is the silver melt value of a 1945 Canadian dime?
At a silver spot price of approximately $3.21 CAD per gram (as reported February 5, 2026), the 1945 dime's 1.864 grams of net silver content yields a melt value of approximately $5.98 CAD. This figure fluctuates daily with the silver spot price. In G4 through VF20 grades, melt value effectively equals market price — the coin is traded as junk silver rather than a numismatic collectible.
What makes a 1945 Canadian dime valuable above its silver content?
Three factors drive numismatic premiums above the silver floor: Grade — the soft 80% silver alloy and war-era bag storage make genuinely clean Gem Uncirculated surfaces rare, creating steep value cliffs at MS64/65 and above. Finish — the Specimen (SP) strikes, with fewer than 50 estimated survivors, command four-figure premiums at any grade level. Strike quality — "Full Sail" examples with fully separated vertical sail bands on the Bluenose command a documented 20–30% premium over flatly struck examples of the same grade. Cameo contrast on Business Strike examples (frosted devices against mirrored fields) commands premiums of 50–100% over standard list prices.
Is the 1945 Canadian dime rare?
In circulated grades, no — with a mintage of 10,979,570, survivors are plentiful and the coin trades as common junk silver. However, the 1945 dime becomes genuinely scarce at MS65 and above, where the combination of soft silver and bag-mark survival makes clean examples statistically improbable. At the MS67 and MS68 tier, examples are rare enough to command $1,500–$5,500+ CAD. The Specimen strike, with a survival estimate of fewer than 50 coins, is a true numismatic rarity at any grade.
What is the difference between a 1945 Canadian dime and a 1945 Newfoundland dime?
They are completely separate coins issued by two distinct legal entities — Newfoundland was not part of Canada in 1945, joining Confederation only in 1949. The diagnostic is straightforward: Canadian 1945 dimes carry no mint mark on the reverse; Newfoundland 1945 dimes carry a small "C" directly below the date 1945. Both were physically struck at the Ottawa Mint. The Newfoundland issue had a mintage of approximately 175,000 and is valued on entirely different tables from the Canadian issue.
Should I get my 1945 Canadian dime professionally graded?
Professional grading makes economic sense once a coin appears to reach MS64 or higher — at that point the value cliff is steep and a certified holder significantly increases buyer confidence and realized price. For circulated grades or MS60–MS63 examples, grading fees typically exceed the numismatic premium over melt. If you believe you have a Specimen strike, professional authentication by ICCS (the Canadian standard) or PCGS/NGC is essential — the value differential between a genuine SP and a well-struck Business Strike is enormous, and no unslabbed coin should be sold as a Specimen without third-party authentication. Note that ICCS is considered stricter than PCGS on eye appeal standards for Canadian coins.
Methodology & Sources
Values in this guide represent typical retail asking prices and recent auction data for problem-free examples as of February 2026. All figures are in Canadian dollars (CAD). Silver melt calculations use the February 5, 2026 spot price of $3.21 CAD per gram as reported by SilverPrice.org. Coin values fluctuate with silver spot prices, collector demand, and market conditions — consult current sources before transacting.
Primary Sources:
- Coins and Canada — 1945 Dime (primary retail pricing and variety data)
- NGC Price Guide: Canada 10 Cents KM 34 (1937–1947)
- PCGS Auction Record: 1945 Canada SP65 — Heritage Auctions
- Royal Canadian Mint — 10 Cents (technical specifications and mintage data)
- Numista — Canada 10 Cents, George VI (KM 34)
- Calgary Coin — Canadian 10-Cent Variety Reference
- Wikipedia — Newfoundland Ten Cents (identification reference)
- Charlton Standard Catalogue of Canadian Coins — primary reference for varieties and mintage data
- Heritage Auctions and Stack's Bowers Galleries — provenance and realized price data for Specimen and high-grade examples
- ICCS (International Coin Certification Service) — Canadian grading standard and population reference
Disclaimer: This guide reflects research as of February 2026 and should not be treated as a guarantee of current market value. Silver-based melt values fluctuate daily.
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.