1948 Canadian 10-Cent (Dime) Value Guide
What is your 1948 Canadian dime worth? This key date silver coin commands $6.70 (G4) to $840+ (MS65). Complete Business Strike and Specimen price tables, Double 8 variety guide, and step-by-step authentication checklist. All values in CAD.
The 1948 Canadian dime is a key date — even heavily worn examples are worth far more than face value. Circulated coins trade from $6.70 (G4) to $50.00 (AU50). Gem Uncirculated examples reach $840, and rare Specimen (SP) strikes have realized $1,093+ at auction.
- Found in a collection, circulated (G4–VF20):$6.70–$15.00
- Better circulated (EF40–AU50):$47.00–$50.00
- Uncirculated (MS60–MS63):$85.00–$125.00
- Gem Uncirculated (MS65):$840
- Specimen (SP67):$1,093+
Is it silver? Yes — all genuine 1948 Canadian dimes are 80% silver and will not stick to a magnet. A positive magnet test means a counterfeit. Shiny or unusually sharp? A coin with matte, squared rims may be a rare Specimen strike — have it certified before selling. All values in CAD as of February 2026.See full value chart →
The 1948 Canadian dime stands as the undisputed key date of the King George VI silver 10-cent series (1937–1952). Only 422,741 examples were struck — one of the lowest mintages in the entire modern Canadian silver dime era. Production was compressed into a fraction of a normal year when India's independence required the removal of the Indiae Imperator ("Emperor of India") title from the royal legend, causing lengthy die-preparation delays at the Royal Mint. The result is a coin that commands a collector premium at every grade level, from heavily worn pocket pieces to pristine Gems. For pricing across the full King George VI dime series and beyond, see our Canadian Dime Value Guide.
Note: Errors such as off-center strikes and wrong-planchet coins exist for 1948 but are outside the scope of this standard value guide.
1948 Canadian 10-cent dime — obverse (King George VI, legend reads GEORGIVS VI DEI GRATIA REX without ET IND IMP) and reverse (Bluenose schooner, date 1948 to the right of the sails). With only 422,741 struck, this is the key date of the George VI silver dime series. (Illustration — not a photo of your exact coin)
1948 Canadian Dime Composition & Melt Value
The 1948 dime belongs to Canada's classic silver coinage era, minted before the debasement events of the late 1960s. Unlike the transitional years of 1967–1968, which saw fluctuations in silver purity, the 1948 issue maintains a consistent, legally mandated metallic standard.
Alloy & Silver Content
- Composition: 80% Silver, 20% Copper — Canada's "coin silver" standard, chosen for its durability in circulation while retaining precious metal prestige.
- Total Weight: 2.33 grams (approximately 36 grains).
- Actual Silver Weight (ASW): 0.0600 troy ounces (approximately 1.864 grams of pure silver).
- Diameter: 18.03 mm | Thickness: 1.23 mm | Edge: Reeded.
Melt Value (February 2026)
Based on a silver spot price of approximately ~$114.00 CAD/oz (~$81.62 USD/oz, per Canada Gold silver spot data as of February 2026) and the coin's ASW of 0.0600 troy oz, the intrinsic silver melt value is approximately ~$6.84 CAD. This represents the absolute floor price for any genuine 1948 dime, regardless of condition.
ℹ️ Melt Value vs. Numismatic Value
Even the most worn 1948 dimes (G4) trade at $6.70 — essentially at the melt floor. By Fine grade (F12) and higher, numismatic premiums fully decouple from silver spot fluctuations. This coin's value is driven by collector demand for a key date, not by bullion market movements. Collectors should view the silver content as a historical feature rather than a primary valuation metric.
Magnetic Properties — First Authentication Step
The 80% silver composition makes genuine 1948 dimes completely non-magnetic. A strong neodymium magnet held against a genuine example should show zero attraction. A magnetic response is a red flag indicating either a modern steel-planchet counterfeit or a base-metal fake. Note that this test identifies base-metal fakes but cannot distinguish silver from other non-magnetic metals — the weight test (2.33g target) is the necessary follow-up. See the Identification Guide for the complete seven-step authentication checklist.
1948 Canadian Dime Value Chart by Grade & Finish
The 1948 dime is documented in two finishes: the standard Business Strike (circulation issue) and the extremely rare Specimen (SP) strike. No Proof-Like (PL) issues are documented for this year — the pliofilm set program that produced PL coins in large numbers came later. All values are typical retail prices in CAD for problem-free, accurately graded examples as of February 2026.
1948 Canadian Dime — Business Strike (Circulation)
Obverse: King George VI (No IND IMP) | Reverse: Bluenose Schooner | Values sourced from Coins and Canada and the NGC World Coin Price Guide.
| Type | G4 | VG8 | F12 | VF20 | EF40 | AU50 | MS60 | MS63 | MS64 | MS65 | Notes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1948 Standard | $6.70 | $9.40 | $13.00 | $15.00 | $47.00 | $50.00 | $85.00 | $125.00 | $233–$270 | $840 | MS66: ~$1,520–$1,800+. Original toning or blast-white surfaces add a 20–30% premium over guide; dark environmental damage discounts significantly. |
Grade-by-Grade Market Analysis
- Circulated (G4–VF20, $6.70–$15.00): The 1948 dime commands a clear premium above melt in all circulated grades. Prices are relatively flat in this range — these are "album fillers" for the date. Even a G4 example stands well above a common-date silver dime from this series.
- EF40–AU50 ($47.00–$50.00): A significant value shelf appears here. The jump from VF20 ($15.00) to EF40 ($47.00) indicates that presentable, lightly circulated copies are harder to source than heavily worn ones. At EF40, the King's hair strands and the Bluenose's sails must show clear, separated detail.
- Mint State (MS60–MS63, $85.00–$125.00): "Commercial uncirculated" — full luster but with bag marks, contact lines, or minor toning. Accessible for collectors who want an uncirculated 1948 dime without paying the Gem premium.
- The Gem Cliff (MS64–MS65): The most critical valuation zone. The price nearly triples between MS64 (~$233–$270) and MS65 ($840). The difference often comes down to a single distracting mark on the King's cheek or in the Bluenose's sails. Virtually no coins survived the mass circulation release of 1948 in MS65 condition.
⚠️ The MS-64 to MS-65 "Gem Cliff" — Buy Certified
The price gap between MS64 (~$233) and MS65 (~$840) is the single greatest financial risk in the 1948 dime market. A "slider" coin that looks MS65 but grades MS64 represents a serious overpayment. Always purchase MS64 and above in certified holders from ICCS, PCGS, or NGC. See FAQ for guidance on which service to use.
Grade comparison for 1948 Canadian dimes: lightly circulated (VF20, detail present but wear visible on high points) versus Gem Uncirculated (MS65, full cartwheel luster, virtually mark-free fields). The $15 vs $840 value gap illustrates why accurate grading is the most important factor for this key date. (Illustration — not a photo of your exact coin)
1948 Canadian Dime — Specimen (SP) Strike
Finish: Specimen — razor-sharp strike, squared rims, matte or satin fields | Mintage: Undetermined (extremely low) | Values sourced from Coins and Canada; auction record via NGC Auction Central.
| Finish | SP63 | SP65 | SP66 | SP67 | Cameo Note | Packaging Context |
|---|---|---|---|---|---|---|
| Specimen (SP) | ~$350 | ~$660 | ~$800 | $1,093+ | Heavy Cameo (HC) on 1948 Specimens is exceptionally rare and commands a premium above listed values. Standard Specimen pricing assumes no cameo designation. | Not from pliofilm sets. Struck in negligible quantities, likely for dignitaries or archival purposes. Authentication by ICCS, PCGS, or NGC is essential. |
The 1948 Specimen is fundamentally different from the mass-produced Proof-Like sets of later decades. These coins were struck with extraordinary care in an undetermined but extremely small quantity — likely for presentation or archival purposes. Unlike a Business Strike, an SP coin will show razor-sharp, squared rims; a matte or satin field texture (not cartwheel luster); and exceptionally crisp device relief. Early die state Business Strikes can superficially mimic this appearance, making third-party authentication by ICCS, PCGS, or NGC an absolute requirement before placing any Specimen premium on a raw 1948 dime.
The NGC SP-67 example that realized $1,093 CAD in April 2022 represents the documented auction benchmark for the finest certified Specimen grade. See the NGC Auction Central record for 1948 Canada 10¢ for further realized prices.
Finish comparison for 1948 Canadian dimes: Business Strike (left, cartwheel luster rotating across the fields, rounded rim edges, typical contact marks) versus Specimen strike (right, quiet matte/satin field texture, razor-sharp squared rims, exceptionally crisp device detail). The Specimen commands a substantial premium at equivalent quality levels. (Illustration — not a photo of your exact coin)
All values in CAD represent typical market prices as of February 2026. Coins with attractive original toning or blast-white surfaces may command a 20–30% premium over listed guide prices; dark environmental damage or cleaning reduces value significantly. For the complete denomination series guide, see our Canadian Dime Value Guide.
Most Valuable 1948 Canadian Dime Varieties
The 1948 dime is relatively clean compared to some other years in the King George VI series, but it hosts significant catalogued varieties actively pursued by specialists. Two tiers are presented below: trophy-level coins that represent the ceiling of the market, and findable varieties that collectors can identify in raw coins using straightforward diagnostics.
A) Trophy-Level: The Most Valuable 1948 Dimes
| What | Why It Commands a Premium | Typical Requirement | Documented High-End Value | Source |
|---|---|---|---|---|
| 1948 MS66 / MS67 | Condition Rarity: The low mintage combined with near-total immediate circulation release means Superb Gem survivors are extraordinarily scarce. | PCGS / ICCS MS-66 or higher | ~$1,520–$1,800+ (MS66) | Coins and Canada |
| 1948 Specimen (SP67) | Finish Rarity: The SP mintage is negligible and undetermined. A high-grade certified Specimen is a genuine numismatic artifact. | PCGS / NGC SP-67 (Cameo preferred) | $1,093 CAD (NGC SP-67, realized Apr 2022) | NGC Auction Central |
| 1948 "Double 8" (mid-MS grade) | Die Variety Rarity: A distinct, catalogued die re-punching event creates naked-eye visible doubling of the final digit — the premier die variety for this denomination. | ICCS MS-64 or better | ~$200+ in mid-MS grades | Coins and Canada |
While the 1948 Silver Dollar is the undisputed "King" of the 1948 Canadian coinage year — commanding prices in the tens of thousands of dollars at top grades — the 1948 dime is the more accessible key date target. Top-tier Gem examples rarely exceed $2,500 CAD, making it an attractive pursuit for advanced collectors who find the dollar prohibitively expensive.
B) Findable Varieties: What to Look for in Raw Coins
| Variety | Key Diagnostic (How to Identify) | Why It Is Rare | Typical Premium Impact | Source |
|---|---|---|---|---|
| Double 8 | Examine the final digit "8" in the date under 10× magnification. Look for a clear secondary outline or "shadow" of the numeral 8 offset to the side — a naked-eye visible doubling caused by die re-punching. | Specific die re-punching event; scarce by die variety standards. | 2× to 3× base value in mid-grades | CoinVarieties |
| Retained Broken Die (Die Cud) | Look for a raised, blob-like mass of metal connecting the rim to an adjacent design element — evidence of a cracked or fractured die kept in service past its useful life. | Very rare die state anomaly; severity and eye appeal vary by specimen. | Variable — depends on prominence and collector demand. | Coins and Canada |
ℹ️ "A to Denticle" — This Is a Penny Variety, Not a Dime Variety
The "A to Denticle" variety sometimes appears in combined Canadian coin listings alongside dimes. Standard numismatic consensus confirms that this is a major Charlton-listed variety for the 1948 1-Cent (Penny). The verified key die variety for the 1948 10-cent denomination is the Double 8. Do not assume "A to Denticle" applies to your dime unless you have a specialized dime reference explicitly confirming otherwise.
The Double 8 variety diagnostic: under 10× magnification, the final "8" in the date 1948 shows a clear secondary shadow or outline offset to the side, the result of a die re-punching event. This is the premier catalogued die variety for the 1948 Canadian dime, commanding 2× to 3× base value in mid-MS grades. (Illustration — not a photo of your exact coin)
1948 Canadian Dime Identification Guide
The 1948 dime is a target for counterfeiting and is frequently confused with the 1947 Maple Leaf issue due to the complex production history of that year. Use this seven-step checklist to confirm exactly what you have.
30-Second Authentication Checklist
Step 1 — Magnet Test (Composition Verification)
Apply a strong magnet to the coin. A genuine 1948 dime is 80% silver and will show zero magnetic attraction. If the coin sticks or is noticeably drawn to the magnet, it is either a steel-planchet counterfeit, a base-metal fake, or a wrong-planchet anomaly — not a standard 1948 issue. This is your fastest first filter.
Magnet test for the 1948 Canadian dime: a genuine 80% silver example shows zero attraction to a neodymium magnet (left — air gap visible). Any magnetic response (right) immediately identifies the coin as a counterfeit or wrong-planchet piece, not a standard 1948 silver dime.
Step 2 — Obverse Legend Check (Monarch & Title Verification)
The obverse must show the portrait of King George VI facing left. Read the legend carefully: it must say GEORGIVS VI DEI GRATIA REX. It must NOT include ET IND IMP (Emperor of India). If you see IND IMP anywhere in the legend, you have a 1947 or earlier issue — or a counterfeit pairing a 1948 reverse with a pre-1948 obverse die.
The critical obverse legend distinction: the 1948 dime reads GEORGIVS VI DEI GRATIA REX — the "Emperor of India" title ET IND IMP is completely absent. All George VI dimes from 1937–1947 include ET IND IMP in the legend. Confirming the truncated legend is the most reliable obverse authentication step. (Illustration — not a photo of your exact coin)
Step 3 — Reverse Design & Date Check (The "Maple Leaf Trap")
The reverse must show the Bluenose schooner sailing left, with the date to the right of the sails. The date must explicitly read 1948 with no maple leaf symbol beside it. Look extremely closely. A coin bearing the date 1947 with a small maple leaf is the 1947 Maple Leaf issue — physically struck in 1948 but catalogued as a 1947 variety. It is a different, less scarce coin. You must confirm the clean "1948" date with no accompanying symbol.
The "Maple Leaf Trap": the 1947 Maple Leaf dime (left) shows the date 1947 with a small maple leaf immediately beside the final digit — it was physically struck in 1948 but is catalogued as a 1947 variety. The genuine 1948 key date dime (right) shows only the numerals 1948 with no accompanying symbol. (Illustration — not a photo of your exact coin)
Step 4 — Weight Test (Counterfeit Detection)
Weigh the coin on a calibrated digital scale with 0.01g precision. A genuine 1948 dime should weigh 2.33 grams (±0.05g manufacturing tolerance). Counterfeits on base-metal planchets typically fall well below this weight. Lead-based fakes may weigh more. This test is the essential follow-up to the magnet test.
Step 5 — Edge & Diameter Check
The edge must be reeded (parallel ridges around the perimeter). The diameter is 18.03 mm. A plain, smooth edge immediately disqualifies the coin as a genuine 1948 dime.
Step 6 — Finish Identification
ℹ️ Business Strike vs. Specimen — How to Tell
- Business Strike (MS): Displays rotating "cartwheel" luster — a spoke of light that moves across the coin as you tilt it under a single light source. Fields are not mirror-like. Bag marks and contact lines are expected even on uncirculated examples.
- Specimen (SP): Has a distinctly "quiet" appearance — matte or fine satin fields rather than a flashy cartwheel luster. The rims are squared and razor-sharp, not gently rounded as on a Business Strike. Device detail (King's ear, ship's rigging) is exceptionally crisp and deeply struck. If your coin shows these characteristics, submit it to ICCS, PCGS, or NGC for a Specimen designation assessment before selling — the premium is substantial.
Step 7 — Variety Check (Double 8 Diagnostic)
Under 10× magnification, examine the final "8" in the date 1948. If you see a clear secondary shadow or offset outline of the numeral — evidence of die re-punching — you likely have the Double 8 variety, the premier catalogued die variety for this denomination. See the Varieties section for full diagnostic details and premium values.
⚠️ Counterfeit & Date Alteration Risks
Date alteration is a documented risk for the 1948 dime. Fraudsters may alter the "3" of a 1943 dime or the "9" of a 1949 dime to resemble an "8." Under 10× magnification, look for tooling marks, glue residue, or uneven fields around the final digit of the date. Modern counterfeits from overseas may be struck on wrong-metal planchets — the magnet test and weight test remain your first lines of defense.
⚠️ Never Clean Your Coins
Cleaning strips original luster and leaves hairlines that are immediately visible under magnification. A cleaned 1948 dime is graded "Details" (damaged) by all major grading services and loses its numismatic premium regardless of the underlying detail quality. Even a heavily worn 1948 dime has value — preserve it in its original, uncleaned state.
1948 Canadian Dime Value FAQs
What is a 1948 Canadian dime worth?
Value depends on grade and finish. A heavily worn example in Good (G4) condition is worth approximately $6.70 CAD. By About Uncirculated (AU50) the value reaches $50.00. A Gem Uncirculated (MS65) example commands approximately $840. The extremely rare Specimen (SP67) strike has realized $1,093 CAD at auction. All values as of February 2026.
Is a 1948 Canadian dime rare?
Yes — the 1948 dime is the key date of the King George VI silver dime series (1937–1952). With only 422,741 struck, its mintage is a fraction of most other dates in the series. In Gem Uncirculated (MS65) condition, it is genuinely condition-scarce: nearly all coins were released directly into circulation in 1948 due to a coin shortage, and few were preserved by collectors. The 1948 Specimen strike is rarer still, with an undetermined but extremely low mintage.
What makes a 1948 Canadian dime valuable?
Three factors drive value: (1) Key date scarcity — only 422,741 were minted due to geopolitical changes requiring new dies; (2) Grade — the dramatic value cliff between MS64 (~$233–$270) and MS65 (~$840) reflects extreme condition rarity; and (3) Finish — a certified Specimen strike commands a substantial premium over a Business Strike of comparable quality. Eye appeal, original toning, and strike sharpness also influence final transaction price, with attractive toning or blast-white surfaces adding a documented premium.
Is my 1948 Canadian dime silver?
Yes. All genuine 1948 Canadian dimes are composed of 80% silver and 20% copper, giving each coin an actual silver weight (ASW) of 0.0600 troy ounces. A quick magnet test confirms silver content: a genuine 1948 dime will have no magnetic attraction whatsoever. If your coin sticks to a magnet, it is not a genuine 1948 silver dime.
Should I get my 1948 Canadian dime graded?
Third-party certification is strongly recommended if your coin appears to be MS63 or better, or if you suspect it is a Specimen strike. The MS64-to-MS65 value cliff — approximately $233 versus $840 — means an accurate grade can return far more than the grading fee. For circulated examples below EF40 (where the premium over melt is modest), the economics of certification may not be justified. For the Canadian market, ICCS (Toronto) is the standard service; PCGS and NGC are US-based alternatives that may attract higher auction interest for top-grade Registry Set competition.
What is the difference between a Business Strike and a Specimen (SP) 1948 dime?
A Business Strike is a standard circulation coin produced for commerce, characterized by cartwheel luster and normal manufacturing contact marks. A Specimen strike was produced with extraordinary care — likely for dignitaries or archival purposes — in a negligible, undetermined quantity. Diagnostic differences include: Specimens have razor-sharp, squared rims (not rounded); matte or satin field texture (not cartwheel luster); and exceptionally crisp device detail. Because early die state Business Strikes can superficially resemble Specimens, certification by ICCS, PCGS, or NGC is essential before applying any Specimen premium.
What is the Double 8 variety, and how do I identify it?
The Double 8 is the premier catalogued die variety for the 1948 Canadian dime, caused by a die re-punching event during production. It is identified by a clear secondary shadow or offset outline of the final "8" in the date 1948, visible under 10× magnification and often visible to the naked eye. In mid-MS grades, a confirmed Double 8 commands approximately 2× to 3× the base value of a standard 1948 dime. Check the rightmost digit of the date on any raw 1948 dime before selling or buying.
How do I spot a counterfeit 1948 dime?
Use a four-step test: (1) Magnet test — genuine coins are non-magnetic; (2) Weight test — genuine coins weigh 2.33g (±0.05g); (3) Legend check — the obverse must read GEORGIVS VI DEI GRATIA REX without ET IND IMP; (4) Date check — must read 1948 with no maple leaf symbol beside the date. Under 10× magnification, also look for tooling marks, glue residue, or uneven fields around the date digits, which may indicate alteration from a 1943 or 1949 dime.
Why does the 1948 dime have such a low mintage?
India's independence in 1947 required King George VI to remove the "Emperor of India" (Indiae Imperator) title from his royal legend on all Commonwealth coinage. The Royal Mint in London faced significant delays preparing new master matrices with the updated legend. To meet immediate coin demand, the Royal Canadian Mint continued striking 1947-dated coins with a small maple leaf symbol well into 1948. By the time actual 1948-dated dies were ready, the minting window for the calendar year was severely compressed — resulting in only 422,741 examples, far below a typical annual production run for a Canadian dime denomination.
What is the difference between ICCS, PCGS, and NGC for 1948 dimes?
ICCS (International Coin Certification Service), based in Toronto, is the Canadian standard and is known for conservative, technical grading. An ICCS designation is universally respected by Canadian dealers and auction houses. PCGS and NGC are US-based services that are also widely accepted in the Canadian market. For the 1948 dime specifically, high-grade examples in PCGS or NGC holders — particularly MS65+ and SP designations — may attract higher realized prices at auction due to "Registry Set" competition among collectors seeking the finest certified examples. For mid-grade circulated coins, ICCS is typically the most cost-effective option.
Methodology & Sources
Values in this guide represent typical retail market prices as of February 2026 for problem-free, accurately graded coins, stated in Canadian Dollars (CAD). Prices are drawn from the following primary sources:
- Coins and Canada — 1948 10-Cent Price Guide (primary pricing source; accessed February 2026)
- NGC World Coin Price Guide — Canada 10 Cents KM 43
- NGC Auction Central — 1948 Canada 10¢ MS (realized auction prices)
- Royal Canadian Mint — 10 Cents (official mintage and specification data)
- Calgary Coin — Canadian 10-Cent Dimes (market commentary and scarcity analysis)
- Numista — 10 Cents George VI (without IND IMP) (technical specifications)
- CoinVarieties — Canada 1948 10 Cents (variety attributions)
- Canada Gold — Silver Spot Prices (silver spot data for melt value reference, February 2026)
- Charlton Standard Catalogue of Canadian Coins (variety attribution; Double 8 listing)
Market values fluctuate with collector demand, silver spot prices, and auction results. Individual coin transactions may vary from guide prices based on eye appeal, toning, strike quality, and current market activity. This guide covers standard (non-error) coins only. Values represent typical retail asking prices; wholesale or dealer-buy prices will be lower.
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.