1958 Canadian 5-Cent (Nickel) Value Guide

The 1958 Canadian five-cent coin is a numismatic sleeper: a moderate-mintage issue (7,607,521 struck for circulation) whose true depth emerges only at the top of the grading scale and among its cataloged varieties. Struck in 100% pure nickel with its distinctive 12-sided dodecagonal shape, it carries Mary Gillick's "Young Head" portrait of Queen Elizabeth II on the obverse and George E. Kruger-Gray's enduring beaver design on the reverse. The coin predates the widespread roll-hoarding era that began in the early 1960s, making original uncirculated survivors — and especially the rare Double Date variety — disproportionately scarce relative to the gross mintage. For complete series context across all dates and designs, visit our Canadian Nickel Value Guide.

1958 Canadian five-cent coin — Queen Elizabeth II "Young Head" (Mary Gillick) obverse with Shoulder Fold, and George E. Kruger-Gray beaver reverse on the 12-sided dodecagonal planchet.

Note: Die-chip anomalies documented for this year — including a chip on the obverse legend GRATIA and a raised mark near the beaver's claw — are outside the scope of this standard value guide.

1958 Canadian Nickel Composition & Metal Properties

The 1958 five-cent coin is struck from 99.9% pure nickel, the metal that defined Canadian five-cent coinage from 1922 through 1981 (with wartime interruptions for tombac and plated steel). This composition has four important implications for collectors:

Magnetic Authentication

Pure nickel is ferromagnetic. Place a magnet against the coin: it will adhere firmly and strongly. This is the single fastest authentication method for the 1958 nickel. A coin that does not react to a magnet is not the correct composition for this issue. The 1958 Canadian nickel contains no silver and no precious metal of any kind — its value is entirely numismatic.

Melt Value

The source document does not provide a calculated melt value for the 1958 nickel. Because the coin is 99.9% nickel with a weight of 4.54 grams, any intrinsic metal value is negligible relative to its numismatic premium in virtually all grades. Note that Canadian law restricts the melting of coin of the realm.

Striking Hardness and the Weak-Strike Problem

Nickel is significantly harder than silver or copper alloys, requiring immense die pressure to transfer the design into the planchet. As a consequence, weak strikes are common in this series: the high points of the design — particularly the beaver's fur on its flank and the Queen's laurel wreath — often failed to fill the die completely. A fully struck 1958 nickel, where the beaver's individual fur lines are crisply separated from shoulder to tail, is a genuine condition rarity and accounts for much of the exponential value increase seen at MS-65 and above. Collectors must distinguish a weak strike (a manufacturing characteristic that does not affect uncirculated status) from wear (circulation loss). If cartwheel luster runs uninterrupted across a flat high point, the coin is Mint State with a weak strike. If the luster breaks and the surface turns dull gray at that point, it is genuine wear.

The Dodecagonal Shape and Contact Marks

The 12-sided shape, introduced in 1942 for tactile distinction from the cent, creates a unique grading challenge. The 12 corners act as concentrated contact points in mint bags and hoppers, producing rim nicks and bag marks on the coin's faces. A true Gem-grade (MS-65+) 1958 nickel must exhibit pristine, sharp corners entirely free from flat spots or bruising — a demanding survival threshold for a coin released into active commerce decades before roll-hoarding became routine practice.

1958 Canadian Nickel Value Chart by Grade & Finish

Values below are in Canadian Dollars (CAD) as of February 2026, sourced from the Coins and Canada 1958 Five-Cent Price Guide and cross-referenced with the NGC World Coin Price Guide (Canada 5 Cents KM#50a). Double Date and Bugtail variety values are covered in the Notable Variants section.

Grade comparison — 1958 Canadian nickel from heavily circulated (left) to Gem Uncirculated MS-65 (right). Note the sharp 12-sided corners, full beaver fur detail, and unbroken cartwheel luster that define top-grade examples. (Illustration — not a photo of your exact coin)

1958 Canadian Nickel — Business Strike (Circulation)

MS-66 note: While book value is approximately $290 CAD, ICCS MS-66 examples have realized as high as $697.00 CAD at auction, driven by Registry Set competition and the genuine scarcity of pristine dodecagonal survivors at this grade level. The population of MS-66 coins is low — often numbering in the dozens rather than hundreds — and coins grading higher than MS-66 are virtually non-existent.

Business Strike vs. Proof-Like finish comparison — the PL coin (right) shows deep mirror fields against frosted devices; the Business Strike (left) shows cartwheel luster rolling across both fields and devices. (Illustration — not a photo of your exact coin)

1958 Canadian Nickel — Proof-Like (PL)

The Royal Canadian Mint produced 18,259 Proof-Like sets in 1958. These coins were struck from polished dies on specially prepared planchets, creating mirror-like fields and frosted devices. They were packaged in white cardboard holders wrapped in cellophane — original packaging that was not chemically inert and has caused hazing, toning, or PVC damage to many surviving examples over the intervening decades. The low mintage of 18,259 sets (versus hundreds of thousands in later years) makes undamaged high-grade PL specimens significant rarities, particularly with Heavy Cameo contrast, which the 1958 dies did not consistently produce.

All values in CAD as of February 2026. For the complete denomination price history across all dates, see our Canadian Nickel Value Guide.

Most Valuable 1958 Canadian Nickel Varieties

Three cataloged varieties define the collector market for the 1958 nickel: the Double Date (the primary premium driver, with a distinct Charlton and Coins and Canada listing), the Bugtail (a cataloged die-chip variety from Charlton references), and the Double 8 (Zoell #R190b) (a niche variety in the Zoell Major Coin Varieties reference). Minor die anomalies classified as errors in the source document are noted briefly but not valued here.

Trophy Variety: The Double Date (Doubled 1 & 8)

1958 Canadian nickel Double Date diagnostic — close-up of the date showing the secondary raised shelf beneath the bottom loop of the 8 and the base of the 1. Strong examples of this variety are visible without magnification.

The Double Date — listed in major Canadian price guides including Charlton and Coins and Canada as the "Double 1 & 8" — is the single most important variety for the 1958 five-cent coin. It typically results from machine doubling or slight re-punching of the working die and commands premiums of 1,000% or more over the standard coin in circulated grades.

Diagnostic Identification

• Examine the last two digits of the date — the 1 and the 8 — under a 5× loupe or direct raking light.
• Look for a secondary raised outline or shelf beneath the bottom loop of the 8 and along the base of the 1.
• The doubling creates a thicker, shadowed appearance to the numerals — a slight shifted second impression below the primary digit.
• Strong examples of this variety are visible without magnification; weaker examples benefit from a loupe.

Double Date — Value Table

Auction record: An ICCS MS-64 example of the Double 1 & 8 variety recently realized $75.00 CAD. The MS-65 trend of $299.00 CAD reflects the rarity of combining the variety's clear doubling diagnostics with Gem-level surface preservation and a full strike — a challenging combination on hard nickel.

Findable Variety: The Bugtail

1958 Canadian nickel Bugtail variety — close-up of the beaver's tail tip showing the raised protrusion caused by a die chip. This cataloged variety is listed in Charlton references and named after the more famous 1957 Bugtail.

The Bugtail is a cataloged variety listed in Charlton references, named after and compared to the more famous 1957 Bugtail. It features a raised lump or protrusion at the very tip of the beaver's tail, formed when a piece of the working die broke away (a die chip), allowing metal to flow into the void during striking. The 1958 version is noted to be scarcer than the 1957 but is less widely publicized, making it a rewarding find for variety specialists.

• Where to look: Examine the very tip of the beaver's tail under a loupe or strong directional light.
• Diagnostic: A raised lump — not a flat spot, nick, or scratch — projecting beyond the normal outline of the tail tip.
• Documented trend value (EF-40): Approximately $6.00 CAD, versus approximately $0.55 for the standard coin at the same grade.

Niche Variety: The Double 8 (Zoell #R190b)

Cataloged by pioneering Canadian variety specialist Hans Zoell as #R190b in his Major Coin Varieties reference, the Double 8 differs from the Double Date in that the doubling is specifically isolated to the digit 8 in the date — the digit 1 is not involved. It is a legitimate cataloged reference variety; a coin in a holder attributed as Zoell #R190b carries historical provenance validating it as a documented issue rather than random mechanical doubling. No specific trend values are provided in the source document for this variety beyond its recognized cataloged status. For broader variety resources on the series, see the Saskatoon Coin Club's Canadian 5-Cent Coin Major Varieties guide.

1958 Canadian Nickel Identification Guide

Use this checklist to confirm exactly what you have — and to assess its quality before considering certification.

30-Second Identification Checklist

1. Monarch Check: The obverse shows Queen Elizabeth II in right-facing profile, young and laureate (wearing a wreath of laurel), designed by British sculptor Mary Gillick. The legend reads ELIZABETH II DEI GRATIA REGINA. This is the First Portrait ("Young Head"), used on Canadian coins from 1953 to 1964. For 1958 specifically: the obverse uses the Shoulder Fold (SF) die — the fold of the Queen's gown at the shoulder truncation is clearly visible. There is no "No Shoulder Fold" variety for the 1958 date; the Shoulder Fold is the only standard for this issue.

2. Reverse Check: The reverse shows a beaver sitting on a log surrounded by water, flanked by two maple leaves with 5 CENTS and arching CANADA above. The date 1958 appears at the bottom. The engraver's initials K.G. (George E. Kruger-Gray) are located to the left of the beaver's log — a useful confirmation point.

3. Shape Check: Confirm the coin is 12-sided (dodecagonal). This is the correct shape for Canadian five-cent coins from 1942 through 1962. A round Canadian five-cent coin would belong to a different era entirely.

4. Edge Check: The edge is plain and smooth — not reeded. A reeded edge on a coin of this appearance would indicate a wrong coin or counterfeit.

5. Magnet Test (Composition Verification):

   🧲 The Three-Second Magnet Test

   Apply a magnet to the coin. A genuine 1958 Canadian nickel — composed of 99.9% pure nickel — will adhere strongly. This immediately rules out silver misattribution (Canadian silver coinage is non-magnetic). A coin that does not stick is not the correct composition for this issue.

6. Mint Marks: There are no mint marks on the 1958 circulation strike or PL coins. Canadian circulation coins of this era carry no mint marks regardless of striking facility. No documented "W" (Winnipeg) variety exists for 1958. Any mark observed under the bust truncation should be investigated carefully — it is more likely a die polish artifact or post-mint damage than a genuine mint mark.

7. Finish Identification (The Critical Step):

   • Business Strike (MS): Fields show a cartwheel luster effect when tilted under light — rolling ribbons of luster flowing across both fields and devices. Contact marks and bag marks may be present.
   • Proof-Like (PL): Fields are deeply mirrored — like glass or polished silver. Devices may show frosting against the mirror field. PL coins came exclusively from the RCM's 18,259 collector sets in 1958. If your coin's fields look mirror-like, it is almost certainly a PL coin — not a rare high-grade Business Strike. Dealers routinely discount raw "Uncirculated" 1958 nickels because PL origin is commonly assumed.

8. Variety Check: Under a 5× loupe, examine (a) the digits 1 and 8 in the date for the Double Date secondary shelf; (b) the very tip of the beaver's tail for the Bugtail raised protrusion; and (c) the digit 8 alone for the Double 8 (Zoell #R190b) isolated doubling.

9. Quality Assessment:

   • Check the 12 corners first — any rounding, flattening, or nicking confirms circulation (AU or lower) or mishandling.
   • Check the beaver's fur detail — crisp, individually separated fur lines indicate a full strike and Gem potential (MS-65+).
   • Check the Queen's laurel leaves — flatness here indicates strike weakness (if lustrous) or genuine wear (if dull gray).
   • Check fields for carbon spots (black spots) — carbon spots typically cap the grade at roughly MS-64 regardless of other qualities.
   • Check for die polish lines — minute raised lines on the fields from the Mint's die-polishing process. These are raised (not incuse like scratches) and do not reduce the grade.

Magnet test for the 1958 Canadian nickel — the 99.9% pure nickel composition produces strong magnetic adhesion, instantly confirming the coin is not silver.

Strike quality comparison — weak strike (left) shows blended, featureless beaver fur despite continuous cartwheel luster; full strike (right) shows crisp separated fur lines. Both are Mint State — only the full-strike coin can reach MS-65 and above. (Illustration — not a photo of your exact coin)

For grading standards and census data for this issue, consult the NGC World Coin Price Guide for Canada 5 Cents KM#50a, and for historical variety context see the Canadian-Coins.ca 1958 nickel reference.

1958 Canadian Nickel Value FAQs

Methodology & Sources

Values in this guide reflect catalogue and realized market prices as of February 2026, drawn from the following primary sources:

• Coins and Canada — 1958 Five-Cent Price Guide (primary market data, variety listings, auction records)
• NGC World Coin Price Guide — Canada 5 Cents KM#50a (census data, pricing cross-reference)
• Royal Canadian Mint — 5-Cent Coin History (technical specifications, production history)
• NGC — Are Canadian Proof-Like Sets Undervalued? (PL market context)
• Saskatoon Coin Club — Canadian 5-Cent Coin Major Varieties (variety reference)
• Canadian-Coins.ca — 1958 5 Cents Nickel (obverse variety and Shoulder Fold reference)
• Charlton Standard Catalogue of Canadian Coins (variety classifications, Double Date listing)
• Zoell Major Coin Varieties (Double 8 — Zoell #R190b attribution)

Market prices represent typical catalogue and realized values; individual outcomes vary based on eye appeal, certification service, and current market conditions. This guide covers standard and documented variety values only — production errors are out of scope. No forward-looking price predictions are made.