1959 Canadian 5-Cent (Nickel) Value Guide

The 1959 Canadian 5-cent piece is a standard issue of the Queen Elizabeth II Young Head (Laureate Bust) series, struck entirely at the Royal Canadian Mint in Ottawa with a business strike mintage of 11,552,523 coins. It is a textbook study in condition rarity: plentiful in circulated grades yet genuinely difficult to find above MS65, where the exceptional hardness of its 100% pure nickel planchet left a lasting mark on die life and coin surfaces alike. The coin's immediately recognizable dodecagonal (12-sided) shape — a uniquely Canadian design innovation — makes it distinguishable from the penny by touch alone. For values spanning the entire Young Head nickel series and beyond, visit our Canadian Nickel Value Guide.

Note: Mint errors such as off-center strikes and wrong-planchet coins exist for 1959 but are outside the scope of this standard value guide.

1959 Canadian 5-cent coin — obverse (Queen Elizabeth II, Young Head / Laureate Bust by Mary Gillick) and reverse (Beaver design by G.E. Kruger-Gray), showing the distinctive 12-sided dodecagonal profile.

1959 Canadian Nickel Composition & Melt Value

100% Pure Nickel: A National Symbol in Metal

The 1959 Canadian 5-cent coin is struck on planchets of 100% pure nickel — a deliberate choice reflecting Canada's position as the world's leading nickel producer, primarily from the Sudbury Basin in Ontario. Unlike the American 5-cent coin, which used a 75% copper / 25% nickel alloy, the Canadian coin of this era used the industrial metal in its purest commercial form. The coinage served, in effect, as a circulating advertisement for the nation's dominant natural resource.

Metallurgical Properties and Their Impact on Grading

The physical properties of pure nickel define this coin's numismatic character in three critical ways:

• Hardness and strike quality: Pure nickel is significantly harder than silver or copper-nickel alloys. Striking the planchets required higher pressures, which accelerated die wear. The result is a prevalence of soft strikes — coins where the highest points of relief (the Queen's shoulder fold and the beaver's ribs) failed to fully resolve. A well-struck example with complete detail in these areas is genuinely scarce and commands a premium even within a given grade tier.
• Bag marks and surface chatter: Because nickel is hard, coins colliding in mint bags produced distinctive scuff marks and surface chatter rather than deep gouges. To achieve MS65 or MS66, a 1959 nickel must be virtually free of these scuffs — especially on the Queen's cheek, which is the primary focal point that graders examine first. This is the mechanical basis of the so-called “Nickel Wall” that drives the steep value cliff between grade tiers.
• Corrosion resistance and survival rates: Nickel's resistance to oxidation means many 1959 coins survived decades of circulation in relatively preserved condition (VF/EF) compared with silver coins of the same vintage. This abundance in mid-grades keeps circulated prices firmly near face value.

Magnetic Test: The Primary Authentication Diagnostic

Pure nickel is ferromagnetic at room temperature. A genuine 1959 Canadian nickel is strongly attracted to a magnet. This single test is the fastest and most reliable way to confirm that a coin is on the correct planchet. If a 1959-dated nickel does not respond to a magnet, it is either a counterfeit or a rare off-metal error that requires professional authentication by ICCS, PCGS, or NGC before any valuation can be applied.

Melt Value

There is no silver or gold content in the 1959 Canadian nickel. Despite the use of an industrial metal, the raw metal value of a single 4.54 g coin remains at or below its 5-cent face value even during periods of elevated nickel commodity prices. The coin's value is entirely numismatic. It should never be scrapped for melt — even a well-worn circulated example is worth more as a collectible or legal-tender coin than as raw metal.

1959 Canadian Nickel Value Chart by Grade & Finish

The 1959 nickel market is sharply bifurcated. In circulated grades (G4–AU50), supply is massive and values are flat and nominal. At the Mint State threshold, a steep “J-curve” takes hold: prices escalate modestly from MS60 to MS64, then multiply rapidly at MS65 and above — a pattern driven entirely by condition rarity rather than design scarcity. The coin is documented in two distinct finishes, each valued on its own scale.

Business Strike (left) vs. Proof-Like (right): the business strike shows satiny cartwheel luster while the PL exhibits mirror-like fields and frosted devices. (Illustration — not a photo of your exact coin)

1959 Canadian Nickel — Business Strike (Circulation)

Grade comparison: heavily circulated (left), About Uncirculated AU50 (centre), and Gem Mint State MS65 (right). The enormous gap between AU50 and MS65 is driven by the near-impossibility of surviving bulk mint handling without surface chatter on a pure nickel planchet. (Illustration — not a photo of your exact coin)

Grade context: Circulated examples (G4–AU50) are abundant in dealer inventory and typically sold in bulk rolls. MS60–62 coins possess full luster but are compromised by heavy bag marks or weak strikes and represent the “ground floor” for uncirculated collections. MS63–64 examples offer good eye appeal and strike at an affordable premium. MS65 marks the true scarcity threshold — the coin must show superior luster, sharp detail on the beaver's fur and the Queen's shoulder fold, and minimal contact marks in focal areas.

Source: Coins and Canada — 5 Cents 1953–1964 Price Guide (2026); NGC Price Guide — Canada 5 Cents KM 50.

1959 Canadian Nickel — Proof-Like (PL)

The 1959 Proof-Like issue was produced for flat cellophane mint sets, with 31,577 sets packaged. These coins feature mirror-like fields and frosted devices, and are distinguished from business strikes by their visual cameo contrast. However, the early RCM packaging was not airtight: many PL coins have developed haze or PVC residue over the decades, making pristine “Blast White” examples genuinely scarce at the Gem level and above.

Cameo contrast note: The RCM did not systematically polish dies for cameo effects in 1959. A Heavy Cameo (HC) or Ultra Heavy Cameo (UHC) example — where frosted devices appear brilliant white against jet-black mirror fields — is a random and highly prized occurrence, often realizing prices well above catalogue values in auction settings.

Source: Coins Unlimited — 1959 Canadian Proof-Like Set; Canadian Coin & Currency — 1959 5¢ ICCS PL-66 (2026).

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

Most Valuable 1959 Canadian Nickel Varieties

The upper end of the 1959 nickel market is dominated by condition rarities — standard business strikes or PL coins in miraculous, near-perfect state — rather than exotic die varieties. One catalogued die variety does exist, however: the accessible “Bug” (Zoell B191Q), which rewards collectors willing to examine coins with a loupe.

A) Trophy-Level Examples (Condition Rarities)

These coins represent the peak of the 1959 market. They are valued at third-party graded (ICCS, PCGS, or NGC) levels and reflect extreme scarcity within the grade population rather than design uniqueness.

B) Findable Varieties Worth Checking

The 1959 "Bug" variety (Zoell B191Q): a raised metal lump appears part-way up the flat, cross-hatched section of the Beaver's tail on the reverse. The standard variety has a smooth, uninterrupted tail surface. Examine with a 10× loupe. (Illustration — not a photo of your exact coin)

Deep Dive: The 1959 “Bug” Variety (Zoell B191Q)

While the 1957 “Bug Tail” is the better-known variety in the series, the 1959 issue carries its own catalogued anomaly. The variety is caused by a die pit — a small piece of the die face breaking away or being indented by debris — which transfers as a raised metal lump on every coin struck from that die state. Its location is the key diagnostic: the 1959 Bug appears part-way up the flat, cross-hatched portion of the beaver's tail, whereas the 1957 variety sits at the very tip.

The variety was catalogued by Hans Zoell, a pioneer in Canadian die variety research. Because it is a die state variety, it can theoretically be collected by die progression stage. The modest premium it commands — roughly ~$8 vs. ~$5 standard at MS64 on the Calgary Coin scale — makes it an accessible entry point for variety collectors. All that is required is a 10× loupe and knowledge of exactly where to look on the tail.

1959 Canadian Nickel Identification Guide

Follow this 30-second checklist to confirm exactly what you have before assessing its value.

30-Second Identification Checklist

1. Monarch Check: The obverse must show Queen Elizabeth II in the Young Head (Laureate Bust) portrait by Mary Gillick. She wears a wreath of laurels — not a tiara. The legend reads ELIZABETH II DEI GRATIA REGINA. (The Tiara Head portrait by Arnold Machin was introduced in 1965.) If you see a crowned or tiara portrait, you have a later-date nickel.
2. Reverse Check: Confirm the Beaver reverse design (by G.E. Kruger-Gray). The legend reads CANADA above and 5 CENTS below the large seated beaver.
3. Date Check: Confirm the date reads 1959.
4. Shape / Edge Check: Run a finger along the edge — it should feel distinctly faceted, with 12 flat sides (dodecagonal). A smooth, round edge means you have a different denomination or a modern plated-steel nickel. The 12-sided shape is the fastest tactile identifier.
5. Magnet Test (Composition Verification):
   • Action: Hold a magnet against the coin.
   • Expected result: The coin must be strongly attracted. The 1959 Canadian nickel is 100% pure nickel and is ferromagnetic at room temperature.
   • If not magnetic: The coin may be a counterfeit or an off-metal error — do not assume high value without professional authentication from ICCS, PCGS, or NGC.
6. Mint Mark Check: There are no mint marks on 1959 Canadian nickels — neither on circulation strikes nor on Proof-Like set coins. This is standard for Canadian circulation coinage of this era. Any mark purporting to be a mint mark on a 1959 5-cent coin is cause for scrutiny.

Magnet test: a genuine 1959 Canadian nickel (100% pure nickel) is strongly attracted to a magnet. A non-magnetic coin requires professional authentication.

The distinctive dodecagonal (12-sided) shape of the 1959 Canadian nickel shown from above and at the edge. The 12 flat facets are immediately recognizable by touch — a deliberate Canadian design innovation to differentiate the coin from the round penny in low-light conditions.

Finish Identification: The Critical Valuation Step

Determining whether your coin is a Business Strike or a Proof-Like (PL) is the single most important valuation decision after confirming authenticity.

• Business Strike (Circulation):
  • Luster: Exhibits “cartwheel” luster — a rotating spoke of light that radiates from the centre when the coin is slowly tilted under a single light source. This is the hallmark of a struck circulation coin.
  • Surface texture: Satiny, metallic, sometimes slightly grainy.
  • Marks: Typically shows bag marks — random scratches and dings from contact with other coins in mint bags. These are the primary reason so few 1959 nickels grade above MS65.
  • Rims: Standard sharpness, not squared.
• Proof-Like (PL):
  • Luster:Mirror-like fields. You should see a reflection — even a faint one — in the flat background areas when the coin is held at an angle. Haze from decades of storage is common.
  • Devices: The Queen's portrait and the Beaver appear frosted or matte against the mirrored background, creating a natural cameo contrast.
  • Marks: Generally free of heavy bag marks, but may carry a greenish haze or PVC residue from the original pliofilm packaging.
  • Heavy Cameo (HC) / Ultra Heavy Cameo (UHC): The frosted devices look brilliant white against jet-black mirror fields — the classic “black and white” cameo. This was not systematically produced in 1959 and is a rare, high-premium occurrence.

Variety Check: The 1959 “Bug” (Zoell B191Q)

• Tool required: 5× or 10× magnifying loupe.
• Target area: The flat, cross-hatched surface of the Beaver's tail on the reverse.
• What to look for: A distinct raised metal lump or dot positioned part-way up the tail — not at the tip.
• Conclusion:
  • Smooth, uninterrupted tail surface = Standard variety.
  • Raised lump part-way up = “Bug” variety (Zoell B191Q) — moderate premium applies.

Grading Services: ICCS, PCGS, and NGC

ICCS (International Coin Certification Service) is the primary standard for Canadian coins and is known for conservative grading — particularly at the MS65 and MS66 tiers. An ICCS MS66 1959 nickel is considered a “hard” grade and is highly liquid in the Canadian market. PCGS and NGC are US-based alternatives whose “Cameo” (CAM) and “Deep / Ultra Cameo” (DCAM/UCAM) designations on PL coins are actively sought by registry set collectors and can unlock significant premiums for Heavy Cameo examples. Both services are widely accepted by Canadian dealers and auction houses.

1959 Canadian Nickel Value FAQs

Methodology & Sources

Values in this guide reflect CAD market prices as of February 2026. Pricing data was drawn from published retail price guides and documented dealer inventory — not single auction outliers. Markets fluctuate; verify current values against live dealer pricing and auction archives before buying or selling.

Primary sources:

• Coins and Canada — 5 Cents 1953–1964 Price Guide (2026) — primary source for business strike grade values.
• Canadian Coin & Currency — 1959 5¢ ICCS PL-66 (2026) — PL grade market reference.
• NGC Price Guide — Canada 5 Cents KM 50 — grade context and valuation cross-reference.
• Calgary Coin — Canadian 5¢ Nickel Varieties — Bug variety attribution (Zoell B191Q) and variety pricing.
• Coins Unlimited — 1959 Canadian Proof-Like Set — PL set mintage and original packaging details.
• Coins Unlimited — 1959 Canadian 5¢ Brilliant Uncirculated — retail BU market context.
• Wikipedia — Nickel (Canadian coin) — composition and historical context.

Variety attributions follow the Zoell catalogue of Canadian die varieties. Grade terminology follows the ICCS (International Coin Certification Service) standard, cross-referenced with PCGS and NGC designations where applicable. The Charlton Standard Catalogue of Canadian Coins is the definitive series reference for this denomination.