1962 Canadian 5-Cent (Nickel) Value Guide
What is your 1962 Canadian nickel worth? Complete price guide by grade and finish — Business Strike ($0.10–$469 CAD) and Proof-Like ($1.50–$100+ CAD) — plus values for the Double Date and Bald Beaver varieties. February 2026 market data.
Most 1962 Canadian nickels found in circulation are worth $0.10–$0.35 CAD. In Gem Uncirculated (MS-65), values reach $45.90. The rare MS-66 commands $469. The Double Date variety elevates even worn examples to $1.00+.
- Circulated (G-4–AU-50):$0.10–$0.35
- Uncirculated (MS-60):$0.55
- Choice Uncirculated (MS-63/64):$2.90–$9.80
- Gem Uncirculated (MS-65):$45.90
- Superb Gem (MS-66):$469
- Proof-Like (PL-65):$12.00 base | Heavy Cameo: 200%–500% premium over base
- Proof-Like (PL-67):$100+
- Double Date variety (VG-8):$1.00
- Double Date variety (MS-65):$364
All values in CAD as of February 2026. Found in change? Circulated examples are worth $0.10–$0.35; melt value (~$0.11 CAD) is negligible compared to numismatic value. Coin looks mirror-like or came in a cellophane packet? That is a Proof-Like (PL) — valued on a separate scale; see the PL table below. Is it silver? No — the 1962 nickel is 100% solid nickel with no precious metal content; a magnet should stick firmly. See full value chart →
The 1962 Canadian 5-cent coin holds a unique place in Canadian numismatic history as the final 12-sided (dodecagonal) nickel issued for general circulation. Introduced in 1942 when wartime necessitated a distinctive shape for the Tombac alloy coin, the angular planchet outlasted both the Tombac era and the return to pure nickel; when the 1963 issue reverted to a round planchet, the 1962 was cemented as the definitive "last of its kind" — a natural target for type collectors and historians alike. The obverse features Queen Elizabeth II's Laureate Bust by Mary Gillick (first portrait, 1953–1964); the reverse carries G.E. Kruger-Gray's iconic Beaver design, a motif synonymous with the denomination. For a complete price history across all years, see the Canadian Nickel Value Guide.
Note: Production errors such as off-center strikes, clips, and wrong-planchet errors exist for 1962 but are outside the scope of this standard value guide.
1962 Canadian Nickel Composition & Melt Value
The 1962 Canadian nickel is struck from solid 100% nickel (99.9% pure) — a composition markedly different from today's multi-ply plated-steel 5-cent coins. The uniform nickel alloy produces a slightly warm silver-grey tone, a characteristic heft, and a firm response to a magnet. Crucially, nickel's hardness made these planchets both durable in circulation and notoriously difficult to strike cleanly at the Mint, contributing directly to the condition rarity observed in high-grade specimens.
Precious Metal Content
There is no silver or gold in the 1962 5-cent coin. Value derives entirely from collectibility, grade, and variety — not metal content. Collectors should treat this coin as a numismatic object, not a bullion investment.
Melt Value (February 2026)
Nickel is an industrial metal critical to stainless steel production and electric vehicle battery manufacturing. As of February 2026, the global spot price is approximately $17,235 USD per tonne (Trading Economics). Applying a prevailing exchange rate of approximately 1.38 CAD/USD (BNN Bloomberg), this translates to roughly $10.78 CAD per pound. A single 1962 nickel weighs 4.54 grams — approximately 1/100th of a pound — placing its intrinsic metal value at approximately $0.11 CAD. This is roughly double the face value of $0.05, yet negligible against any meaningful numismatic grade premium.
ℹ️ Melt Value vs. Numismatic Value
The ~$0.11 CAD metal floor is relevant mainly for bulk hoards of heavily worn, unidentifiable coins. For any gradable 1962 nickel, numismatic premium far exceeds melt — even a circulated Good (G-4) example trades at $0.10 on numismatic merit. The high MS and variety premiums documented in this guide make melt value essentially irrelevant for individual specimens.
Magnetic Properties as Authentication
Apply a magnet to your coin. A genuine 1962 Canadian nickel is 100% solid nickel and is strongly magnetic — it should stick firmly. If your coin does not attract a magnet, it is either struck on the wrong planchet (a significant mint error worth investigating), a foreign coin, or a counterfeit. In that case, weigh it immediately on a jeweller's scale: the correct weight is exactly 4.54 grams. Note that while modern (post-circa 2000) Canadian nickels are plated steel and also magnetic, their multi-ply plated composition and round shape make them easily distinguished from the 1962 issue.
1962 Canadian Nickel Value Chart by Grade & Finish
Value is driven by three factors: (1) grade — the steep condition-rarity cliff in upper MS tiers; (2) finish — Business Strike and Proof-Like are valued on completely separate scales; and (3) variety — the Double Date commands its own premium at every grade level. All values in CAD as of February 2026, sourced from Coins and Canada — 5 Cents 1953–1964.
Business Strike (left) showing satin cartwheel lustre versus Proof-Like (right) with mirror-like reflective fields and frosted devices. Identifying the finish is the critical first step before consulting the correct value table. (Illustration — not a photo of your exact coin)
1962 Canadian Nickel — Business Strike (Circulation)
Struck for general commerce at the Royal Canadian Mint, Ottawa. Features standard satin/cartwheel lustre. Mintage: 46,307,305. Both the Standard type and the Double Date variety are included below.
| Type | G-4 | VG-8 | F-12 | VF-20 | EF-40 | AU-50 | MS-60 | MS-63 | MS-64 | MS-65 | MS-66 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1962 Standard | $0.10 | $0.10 | $0.10 | $0.15 | $0.15 | $0.35 | $0.55 | $2.90 | $9.80 | $45.90 | $469 |
| 1962 Double Date | — | $1.00 | $1.65 | $2.60 | $3.90 | $7.80 | $15.00 | $28.80 | $77.20 | $364 | — |
Grade comparison: a circulated worn example (left), a Choice Uncirculated MS-63 with some contact marks (centre), and a Gem MS-65 with blazing lustre and clean fields (right). The jump from MS-64 to MS-65 represents a roughly 4.5× price multiplier for the Standard type. (Illustration — not a photo of your exact coin)
ℹ️ The MS-65 Value Cliff
Notice the jump from MS-64 ($9.80) to MS-65 ($45.90) for the Standard type — roughly a 4.5× multiplier. The subsequent leap to MS-66 ($469) is even more dramatic. This "condition rarity" pattern is characteristic of the 1953–1964 pure nickel series: 46 million coins were struck, but the hard planchets suffered severe bag-mark damage during bulk minting, making clean Gem specimens statistically rare relative to total mintage.
1962 Canadian Nickel — Proof-Like (PL)
Struck for the Royal Canadian Mint's annual Mint Sets, originally packaged in flat cellophane (pliofilm) strips. Features mirror-like reflective fields and frosted devices. Mintage: 200,950 — less than 0.5% of total circulation output. Sourced from J&M Coin — 1962 Proof-Like Set and auction comparables.
| Finish | PL-63 | PL-64 | PL-65 | PL-66 | PL-67 | Cameo Premium |
|---|---|---|---|---|---|---|
| 1962 Proof-Like | $1.50 | $3.00 | $12.00 | $35.00 | $100+ | Heavy Cameo (HC): 200%–500% premium over base PL prices at each grade level |
⚠️ PVC Damage Risk
Proof-Like coins from 1962 were packaged in soft cellophane (pliofilm) strips. Over decades, PVC compounds in older holders can produce green slime or a hazy milky film on the coin's surface. If you observe this, the coin requires professional conservation using pure acetone — do not use nail polish remover or household cleaners. PVC-damaged coins revert to near face or melt value regardless of the underlying detail or grade potential.
ℹ️ Cameo Contrast: Where the Real PL Premium Lives
The base PL prices above assume a standard brilliant finish — mirror fields, no special frost. The real collector market centres on Heavy Cameo (HC) and Ultra Heavy Cameo (UHC) contrast: deep jet-black mirror fields against thick, heavily frosted white devices. In the early 1960s, the RCM did not repolish dies as frequently as modern mints; only the first few strikes from a fresh die produced this "black and white" struck appearance. At documented premiums of 200%–500% over base, a PL-65 HC translates to roughly $36–$72 or higher. A PL-67 UHC is a trophy piece estimated in the $200–$300+ range based on comparable auction data. Always evaluate the actual cameo contrast — buy the coin, not the holder label.
Values in CAD represent typical market prices as of February 2026. For the complete denomination price guide, see our Canadian Nickel Value Guide.
Most Valuable 1962 Canadian Nickel Varieties
The 1962 nickel is one of the most variety-rich issues of the Elizabeth II decimal series. Two documented non-error varieties — the Double Date and the Bald Beaver — offer collectors actionable targets at every budget level, from circulated finds to trophy-grade certified specimens.
A) Trophy-Level Examples
These coins represent the absolute pinnacle of the 1962 market, typically residing in specialist and registry-set collections. Prices below are list prices or estimates based on comparable auction data as catalogued and documented in numismatic references.
| Coin | Why It Commands a Premium | Documented Value (CAD) | Source |
|---|---|---|---|
| 1962 Standard MS-66 Business Strike | Conditional rarity — 100% nickel planchets suffered severe bag-mark damage during bulk minting; a pristine MS-66+ free of "chatter" on the Queen's cheek is a statistical anomaly requiring strict ICCS or PCGS certification | ~$469 CAD (list price) | Coins and Canada |
| 1962 Double Date MS-65 | Variety + condition rarity — most Double Dates are found circulated or in low MS grades; a Gem example with strong, clear doubling is a "double rarity" combining popular variety with premium preservation | ~$364 CAD (list price) | Coins and Canada |
| 1962 PL-67 Heavy Cameo | Visual appeal and finish rarity — early-1960s Heavy Cameo coins are far scarcer than modern proofs; deep mirror fields against thick frost on both sides create a masterpiece of die production from a brief window of a fresh die state | ~$200–$300+ CAD (estimate based on comparable auction data) | 2025 New Year's Sale — CCPM |
| 1962 Double Date MS-64 | Key variety demand — even one grade below Gem, collector appetite for this catalogued variety sustains strong premiums | ~$77.20 CAD (list price) | Coins and Canada |
Close-up of the Double Date variety (Charlton #205): look for a flat shelf or step beneath the digits of "1962" — most visible on the "1" and the "9." This machine-doubling effect is canonised as a major collectible variety by the Charlton Standard Catalogue. (Illustration — not a photo of your exact coin)
B) Findable Varieties Worth Checking
These varieties are actionable targets. A 5×–10× loupe is all the equipment required to check coins in dealer inventories, original rolls, or old family collections.
| Variety | Reference | How to Identify | Typical Premium |
|---|---|---|---|
| Double Date ("Double 1962") | Charlton Variety #205 | Under 5×–10× magnification, look for a flat "shelf" or "step" at the bottom of the date digits "1962." Most prominent on the "1" and "9"; occasional doubling also visible on the "C" of CANADA. | $1.00–$7.80 in circulated grades; $15.00+ at MS-60 |
| Bald Beaver | Zoell Y192b | Examine the beaver's back under magnification. Standard coins show clearly incused lines defining the fur. On the Bald Beaver, the back is smooth, shiny, and rounded — the result of aggressive die polishing. An uncirculated Bald Beaver shows blazing lustre on the smooth area, distinguishing it from wear. | ~$3–$10 CAD premium over standard in MS grades |
Side-by-side comparison: standard Beaver reverse (left) showing distinct incused fur-texture lines across the back, versus the Bald Beaver variety (right) where aggressive die polishing has erased the fur detail, leaving a smooth, shiny, rounded back. On an uncirculated example, the smooth area retains full cartwheel lustre — this is not wear. (Illustration — not a photo of your exact coin)
ℹ️ Machine Doubling vs. Doubled Die: The Canadian Exception
The Double Date is technically classified by many numismatists as machine doubling (strike doubling / mechanical doubling) — a flat, shelf-like secondary impression caused by a slight die shift or bounce upon impact with the hard nickel planchet. In U.S. numismatics this is routinely dismissed as damage. In Canadian numismatics, spectacular examples have been canonised by Charlton and Coins and Canada as legitimate, priced varieties. Major grading services may note "machine doubling" on the holder label rather than "doubled die"; seek examples where the shelf is bold and unmistakable to ensure maximum market liquidity.
1962 Canadian Nickel Identification Guide
Use this systematic checklist to determine exactly what you have and whether professional certification is warranted.
The 1962 Canadian 5-cent coin: obverse showing Queen Elizabeth II's Laureate Bust by Mary Gillick (first portrait, 1953–1964) with legend ELIZABETH II D·G·REGINA, and reverse showing G.E. Kruger-Gray's Beaver on rock design. Note the 12 flat sides and corners — the definitive shape diagnostic for this issue.
30-Second Identification Checklist
- Date Check: Confirm "1962" on the obverse below the portrait. No dual dates — only the single year appears.
- Shape Check (Critical Diagnostic for 1962): Is the coin 12-sided (dodecagonal)? Run a fingertip along the edge — you should feel 12 distinct flat sides and corners. The 1962 is the last 12-sided Canadian 5-cent coin. From 1963 onward, the denomination is perfectly round. If your coin is round and you believe it reads "1962," recheck the date carefully.
- Monarch Check: The obverse displays Queen Elizabeth II's Laureate Bust designed by Mary Gillick — the first portrait used on Canadian coins from 1953 to 1964. The Queen faces right wearing a laurel wreath. The legend reads ELIZABETH II D·G·REGINA.
- Reverse Check: The reverse shows a beaver sitting on a rock, designed by G.E. Kruger-Gray, with the legend CANADA and denomination 5 CENTS.
- Edge Check: Plain and smooth. The 12 flat sides form the edge naturally — there is no reeding.
- Magnet Test (Composition Verification): Apply a magnet to the coin.
- Sticks firmly: Genuine. The 1962 nickel is 100% solid nickel and is strongly magnetic.
- Does not stick: Not a standard 1962 nickel. Could be struck on a silver or bronze planchet (a significant mint error), a foreign coin, or a counterfeit. Weigh immediately — correct weight is 4.54 grams.
- No Mint Marks: No mint marks appear on any standard 1962 Canadian nickel. All were struck at the Royal Canadian Mint in Ottawa. No "W" (Winnipeg) mark exists for this year or this series era.
Shape diagnostic: the 1962 Canadian nickel (left) clearly showing 12 flat sides and corners versus a round 1963 Canadian nickel (right). The 12-sided shape is the fastest single-step identification for this coin — no magnification required.
The magnet test in practice: a genuine 1962 Canadian nickel (100% solid nickel) sticks firmly to a magnet. A non-magnetic response signals a potential wrong-planchet error or counterfeit — both worth immediate further investigation.
Finish Identification (The Critical Step)
| Finish | Fields (Background) | Devices (Queen, Beaver) | Typical Origin |
|---|---|---|---|
| Business Strike | Satin or "cartwheel" lustre — a rotating spoke of light sweeps across the field when the coin is slowly tilted under a light source | Same satin lustre; may show contact marks or bag marks from mint-bag handling | Rolls, pocket change, dealer bulk lots |
| Proof-Like (PL) | Mirror-like and reflective — printed text held near the coin is visible as a clear reflection in the field | Frosted or matte appearance, contrasting with the mirrored background | Original cellophane/pliofilm RCM Mint Sets; often found loose after sets are broken |
⚠️ Never Clean Your Coins
Cleaning a 1962 nickel leaves hairline scratches that are immediately visible on the hard polished surfaces. A grading service will label a cleaned coin "Details — Cleaned," permanently discounting it regardless of its underlying detail. A dirty, original MS-64 is worth far more than a shiny, cleaned coin at any grade. Do not use water, polishing cloths, chemical dips, or any abrasive on these coins.
Variety Forensic Scan (5×–10× Loupe Required)
Target 1 — The Date "1962": Examine the bottom of each digit closely. Do you see a flat shelf or step beneath the numbers? If yes: Double Date variety (Charlton #205). Set aside for further evaluation or submission to a grading service.
Target 2 — The Beaver's Back: Examine the fur texture. Is it detailed with incuse lines? Or is the back smooth, shiny, and rounded? If smooth on an otherwise uncirculated coin: Bald Beaver variety (Zoell Y192b).
ℹ️ ICCS vs. PCGS/NGC: Which Grading Service?
ICCS (International Coin Certification Service) is the domestic Canadian standard and is notoriously conservative regarding surface marks — an ICCS MS-65 is a premium coin. PCGS and NGC are US-based alternatives whose holders may appeal to international buyers and can occasionally yield a higher numerical grade than ICCS. Some collectors cross-grade ICCS coins to PCGS/NGC, though the Canadian market often prefers the conservative ICCS opinion for domestic sales. For the 1962 nickel, grading is most economically justified at MS-64 and above for the Standard type, or from MS-63 upward for the Double Date variety.
1962 Canadian Nickel Value FAQs
What is a 1962 Canadian nickel worth?
A circulated 1962 Canadian nickel in Good to About Uncirculated condition is worth $0.10–$0.35 CAD. Uncirculated examples start at $0.55 (MS-60) and rise sharply to $45.90 at Gem MS-65 and $469 at Superb Gem MS-66. Double Date variety coins (Charlton #205) command a premium even in low circulated grades, starting at $1.00 at VG-8. Proof-Like (PL) coins from the 200,950-mintage Mint Set range from $1.50 (PL-63) to $100+ (PL-67) at base, with Heavy Cameo examples commanding 200%–500% over those figures. All values in CAD as of February 2026.
Is the 1962 Canadian nickel rare?
In circulated condition, the 1962 nickel is common — over 46 million were struck. However, it is a condition rarity: Gem Uncirculated (MS-65+) examples are disproportionately scarce because the hard 100% nickel planchets were easily bag-marked during bulk minting. As the final 12-sided Canadian nickel, it also commands steady type-collector demand beyond standard series collecting, which supports the market floor even for common circulated examples.
What makes a 1962 Canadian nickel valuable?
Three factors drive value: (1) Grade — the dramatic value cliff between MS-64 ($9.80) and MS-65 ($45.90), and the enormous leap to MS-66 ($469), makes condition the primary multiplier; (2) Variety — the Double Date (Charlton #205) commands 10×–15× face value even in circulated grades; (3) Finish and Cameo Contrast — Proof-Like coins with Heavy Cameo (HC) contrast command 200%–500% premiums over base PL prices. Eye appeal (clean surfaces, absence of ugly toning) also functions as a significant multiplier in live auction settings.
Is my 1962 Canadian nickel silver?
No. The 1962 5-cent coin is 100% solid nickel — there is no silver or precious metal content of any kind. Canadian dimes, quarters, fifty-cent pieces, and dollars of the 1962 era were struck in silver, but the 5-cent denomination was already pure nickel by the early 1950s. The magnet test confirms this immediately: a genuine 1962 nickel sticks firmly to a magnet. Silver is non-magnetic, so if your coin does not attract a magnet, it warrants further investigation — but do not assume silver based on the coin's appearance alone.
What is the Double Date variety, and how do I find it?
The Double Date (Charlton Variety #205) shows a distinct flat shelf or step beneath the digits of "1962" when examined under 5×–10× magnification, most prominently on the "1" and "9." It is technically classified as machine doubling — a die-shift effect on impact with the hard planchet — but has been canonised as a major collectible variety by Charlton and Coins and Canada. Look for it in circulated rolls, original dealer inventories, and old family collections. In circulated grades it starts at $1.00 (VG-8), rising to $364 at MS-65 Gem — making it a high-reward find for an observant collector.
What is the Bald Beaver variety?
The Bald Beaver (Zoell Y192b) results from aggressive die polishing at the Mint that erased the fine incused lines defining the beaver's fur. On a standard coin the beaver's back shows clear fur texture; on a Bald Beaver, the back is smooth, shiny, and rounded. Crucially, this is not wear — an uncirculated Bald Beaver shows blazing cartwheel lustre on the smooth area, distinguishing it definitively from a circulated coin. It commands a modest ~$3–$10 CAD premium over standard MS-grade coins, as catalogued by Calgary Coin Gallery.
What is the difference between a Business Strike and a Proof-Like (PL) 1962 nickel?
Business Strike coins were made for circulation and feature a satin "cartwheel" lustre — a rotating spoke of light when the coin is tilted. Proof-Like coins were specially struck for the RCM's annual Mint Sets (200,950 produced) and feature mirror-like reflective fields alongside frosted devices (Queen and Beaver). PL coins were packaged in flat cellophane pliofilm strips. If your coin came loose from a set or has distinctly mirror-like fields, it is almost certainly a PL coin — not a rare high-grade Business Strike. The two finishes are graded and valued on completely separate scales: PL-65 is $12.00 base while a Business Strike MS-65 is $45.90.
What is a Heavy Cameo (HC) Proof-Like, and why is it so valuable?
A Heavy Cameo (HC) Proof-Like displays an extreme "black and white" contrast: jet-black mirror fields against heavily frosted, almost white devices. In the early 1960s, the RCM did not repolish dies as frequently as modern mints; only the very first strikes from a fresh die achieved this spectacular effect. As the die wore, the frost faded to a standard brilliant finish. Documented premiums for HC contrast on 1962 PL coins are 200%–500% over base PL prices at each grade level. A PL-67 Ultra Heavy Cameo is estimated in the $200–$300+ range based on comparable auction data from TCNC Prominence Sale XI.
Should I have my 1962 Canadian nickel professionally graded?
Grading fees at ICCS, PCGS, or NGC typically run $25–$50+ per coin before shipping. For a standard 1962 nickel, professional certification is economically justified at MS-64 (~$9.80) and becomes compelling at MS-65+ (~$45.90) where the grade cliff makes certification meaningful. For the Double Date variety, the lower value threshold makes grading worthwhile from MS-63 (~$28.80) onward. ICCS is the preferred Canadian standard for domestic sales; PCGS and NGC are US-based alternatives whose holders may broaden the international buyer pool. Some collectors cross-grade ICCS coins to PCGS/NGC, though results vary and the conservative Canadian market often prefers the ICCS opinion.
Why is the 1962 Canadian nickel 12-sided?
The 12-sided (dodecagonal) shape was introduced in 1942 when wartime metal conservation led the Mint to use a brass alloy called Tombac for 5-cent coins; the distinctive angular shape allowed vending machines and the public to identify the coin by feel alone, distinguishing it from the bronze cent. When the composition returned to pure nickel after the war, the angular shape was retained as a familiar convention — until 1963, when the coin reverted to a round planchet. This makes the 1962 the final 12-sided Canadian nickel, earning it enduring appeal among type collectors who want one example of each distinct design and shape in the denomination's history.
Methodology & Sources
Values in this guide are synthesised from the following primary numismatic authorities, cross-referenced against current and recently realised auction data as of February 2026. All values are in Canadian Dollars (CAD).
- Charlton Standard Catalogue of Canadian Coins: Definitive variety attribution (Double Date Charlton #205) and base pricing structure.
- Coins and Canada — 5 Cents 1953–1964 Price Guide: Primary source for circulated, MS, and PL grade values; real-time market pricing.
- Royal Canadian Mint (mint.ca) — 5 Cents: Historical mintage figures and technical specifications.
- Calgary Coin Gallery — Canadian 5-Cent Nickel Reference: Bald Beaver variety attribution (Zoell Y192b).
- TCNC Prominence Sale XI (November 2024) and 2025 New Year's Sale Catalogue — Canadian Coins and Paper Money: Auction comparables for high-grade and PL Heavy Cameo specimens.
- Geoffrey Bell Auctions — Toronto Coin Expo Fall Sale: Realised prices for high-grade Canadian nickel type coins.
- J&M Coin — 1962 Proof-Like Set: PL set reference and pricing context.
- Nickel spot price:Trading Economics; CAD/USD exchange rate: BNN Bloomberg (both February 2026).
- ICCS / PCGS Population Reports: Census data informing conditional rarity assessments at MS-66/67 and PL-67 HC.
Market Disclaimer: Values represent typical realised prices and catalogue references as of February 2026. Coin values fluctuate with market conditions, metal spot prices, and collector demand. Trophy-level coins (MS-66+, PL-67 HC) may realise prices significantly above or below listed values depending on eye appeal and auction competition. This guide covers standard (non-error) values only; production errors are outside its scope.
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.