1967 Canadian 10-Cent (Dime) Value Guide — 1867–1967 Centennial Mackerel Silver Coin

The 1867–1967 Canadian 10-cent piece is one of the most celebrated coins of Canada's Centennial Commemorative Series, featuring Alex Colville's spare, kinetic Atlantic Mackerel — replacing the Bluenose schooner for this single commemorative year. It marks a defining moment in Canadian numismatic history: the last year silver appeared in the Canadian dime before a complete transition to nickel in 1968. The coin exists in two visually identical silver compositions (80% and 50%), making composition testing a critical consideration for bulk buyers and a fascinating puzzle for collectors. For the full denomination history, see our Canadian Dime Value Guide.

Note: Mint errors such as off-metal wrong-planchet strikes, major clips, and brockages exist for the 1967 dime but are outside the scope of this standard value guide.

The 1867–1967 Canadian 10¢ — Arnold Machin's Tiara effigy of Queen Elizabeth II (obverse) and Alex Colville's Atlantic Mackerel (reverse), with the dual commemorative dates 1867–1967.

1867–1967 Canadian Dime Composition & Melt Value

The 1967 dime is unique in Canadian numismatic history: the Royal Canadian Mint altered its silver content mid-production run. Rising silver prices in the 1960s — driven by industrial demand and speculative pressure — pushed the intrinsic value of silver coinage toward its face value (Gresham's Law). The Mint responded first by reducing silver fineness from 80% to 50%, then by eliminating silver entirely from the dime in 1968. The result is two metallurgically distinct 1967 dimes that are externally indistinguishable.

The Two Silver Compositions

80% Silver Variety

• Composition: 80% Silver, 20% Copper — the traditional Canadian subsidiary silver alloy established in 1920, used at the start of the 1967 production run.
• Actual Silver Weight (ASW): ~0.0600 troy ounces (~1.866 g of pure silver).
• Melt Value at ~$108.90 CAD/oz spot (February 2026): approximately $6.53 CAD.

50% Silver Variety

• Composition: 50% Silver, 50% Copper — introduced later in the 1967 production run as a cost-saving measure immediately before the full nickel transition in 1968.
• Actual Silver Weight (ASW): ~0.0375 troy ounces (~1.166 g of pure silver).
• Melt Value at ~$108.90 CAD/oz spot (February 2026): approximately $4.08 CAD.

Melt Value Formula: Melt Value = (Coin Weight in Grams ÷ 31.1035) × Purity Decimal × Spot Price (CAD/oz)

The Identification Challenge

Both varieties share the same nominal weight (2.33 g), diameter (18.03 mm), and thickness. Both are non-magnetic. Consequently, the two compositions cannot be distinguished by visual inspection or a standard magnet test. Scientific methods are required:

• Specific Gravity (SG) Testing: The 80% silver alloy has an SG of approximately 10.18; the 50% alloy has an SG of approximately 8.90. This requires a precision scale and a water displacement setup — definitive but equipment-intensive.
• X-Ray Fluorescence (XRF) Analysis: Non-destructive elemental analysis — the gold standard for composition identification, typically available at assay offices or major grading services.
• Acoustic "Ping" Test: The 80% silver coin rings with a slightly higher pitch and longer sustain than the 50% alloy. Considered subjective and unreliable for individual coin valuation.

Distinguishing the 80% from the 50% silver 1967 dime requires Specific Gravity (SG) testing — the 80% alloy reads ~10.18 SG; the 50% alloy reads ~8.90. Both coins look identical from the outside. (Illustration — not a photo of your exact coin)

1867–1967 Canadian Dime Value Chart by Grade & Finish

Values below represent typical retail asking prices for problem-free (uncleaned, unaltered, no damage) coins. All prices in CAD as of February 2026. Sources include the NGC World Coin Price Guide — Canada 10 Cents KM-67 and the Charlton Standard Catalogue of Canadian Coins (2025 edition).

1867–1967 Canadian Dime — Business Strike (Circulation)

In grades G4 through EF40, the coin's value tracks the silver melt floor rather than numismatic grade differences. A meaningful numismatic premium emerges at AU50 and climbs sharply at MS64 and above. The Mackerel's eye and central body scales are the high points of the reverse; virtually any contact mark across the fish's body limits the grade — creating a dramatic condition cliff.

Grade mapping for dealer listings: "Unc" or "BU" typically maps to MS60–MS62. "Choice Unc" = MS63. "Gem Unc" = MS65. The 80%/50% composition distinction is not priced separately in circulated grades — the market treats them identically at those levels.

1867–1967 Canadian Dime — Collector Finishes (Proof-Like & Specimen)

These coins were struck for official Royal Canadian Mint sets and are generally found in higher grades. Cameo contrast — frosted devices against mirror fields — is the key value driver for collector-finish coins. See also: ICCS PL65 Heavy Cameo example (Colonial Acres) and PCGS PL-66 CAMEO auction record (GreatCollections).

Three finishes side by side — Business Strike (rotating cartwheel luster, minor bag marks), Proof-Like (mirror fields, lightly frosted Mackerel), and Specimen (sharp squared wire rim, ultra-crisp fin and scale detail). Heavy Cameo contrast on PL or SP coins adds 50–100% or more above the base price. (Illustration — not a photo of your exact coin)

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

Most Valuable 1867–1967 Canadian Dime Varieties

Despite a business-strike mintage exceeding 62 million, the 1967 Mackerel dime offers meaningful collecting opportunities across both condition rarity and die variety. Below are the key non-error variants documented by Charlton and recognized by major grading services.

A) Trophy-Level Variants (Exceptional Market Coins)

These represent the upper end of the market — coins competing in registry sets or crossing major auction blocks. They are not typical examples found in coin jars or old sets.

B) Findable Varieties Worth Checking

These die varieties and production anomalies can be cherry-picked from raw collections and rolls. Always have a candidate authenticated by ICCS or PCGS before concluding an attribution, particularly for the Nickel Trial.

The Doubled Die Obverse (DDO) diagnostic — look for a rounded, distinct "shadow" duplication on the letters of D.G. REGINA and the Queen's portrait profile. The doubling must be rounded (hub doubling), not the flat shelf typical of machine doubling, which carries no premium. (Illustration — not a photo of your exact coin)

1867–1967 Canadian Dime Identification Guide

Use this 30-second checklist to determine exactly which 1967 dime you have — and which finish and composition category applies to your coin.

30-Second Identification Checklist

1. Date Check: Confirm the dual commemorative dates 1867–1967 on the reverse. Both years should appear flanking the Mackerel. A standard dime with only one date is not a 1967 Centennial issue.
2. Reverse Design Check: Confirm the Atlantic Mackerel swimming left. The Bluenose schooner design was suspended for 1967 — all standard 1967 Canadian dimes bear only the Mackerel reverse.
3. Obverse Check: The Queen faces right wearing the "Girls of Great Britain and Ireland" tiara. The legend reads ELIZABETH II D·G·REGINA. This is Arnold Machin's Second Portrait, used on Canadian coinage from 1965 to 1989.
4. Edge Check: The edge is reeded (ridged). A plain or smooth edge would indicate a wrong-planchet error, which is outside the scope of this guide.
5. Magnet Test — Critical Composition Step:
   • Non-magnetic result (coin falls away from magnet): Your coin is silver — either 80% or 50% composition. This is the expected result for any standard genuine 1967 dime.
   • Strongly magnetic result (coin sticks to magnet): This is a red flag. Your coin may be the ultra-rare Nickel Pattern Trial (DC-33) or a counterfeit. Weigh it: the nickel trial weighs ~2.07 g; a genuine silver dime weighs 2.33 g. Submit immediately to ICCS or PCGS for authentication regardless of weight result — do not attempt to sell without certification.
6. Mint Marks: No mint marks appear on any standard 1967 Canadian dime, regardless of finish. No "W" (Winnipeg) variety exists for this year — absence of a mint mark is normal and expected.
7. Finish Identification — The Critical Valuation Step:
   • Business Strike: Rotating cartwheel luster when tilted under a single light source. Small contact marks on the field and Mackerel body are common. Typically found loose, in rolls, or in coin jars.
   • Proof-Like (PL): Mirror-like reflective fields. The Mackerel and Queen appear lighter or frosted against the reflective background. Originally came in a red flat-pack (pliofilm cellophane). May show faint die polish lines or PVC haze if stored long-term in original packaging.
   • Specimen (SP): Uniform, crisp satin or high-gloss mirror fields. Squared-off "wire rim" where the metal meets the coin edge — a key diagnostic. Exceptionally sharp detail on the Queen's hair, tiara jewels, and Mackerel fins. Originally came in a black leather case, often accompanying other Centennial coins.
8. Wear Indicator — The Fish Eye Test: The Mackerel's eye and central body scales are the highest-relief points on the reverse. If the eye appears flat or the scales are merged together, the coin grades circulated (AU50 or lower). A sharp, three-dimensional fish eye with visible depth is required for MS64 and above.
9. Cameo Check (PL and SP Coins Only): Hold the coin at an angle under a single light source. If the Mackerel and Queen's portrait appear bright white against dark mirror fields = Cameo or Heavy Cameo. Heavy Cameo (HC) contrast adds 50–100% to PL values; deep cameo contrast on an SP coin commands a significant premium above base Specimen prices.

Grade comparison — a circulated 1967 Mackerel dime (EF40, worn fish scales and flat eye) versus a gem uncirculated example (MS65, fully detailed individual scales and sharp distinct fish eye). The Mackerel's eye and central body are the grade-determining high points on this reverse. (Illustration — not a photo of your exact coin)

The magnet test for the 1967 dime. A genuine silver coin (80% or 50%) is non-magnetic — it falls away from the magnet. A magnetic response requires immediate professional authentication to distinguish the ultra-rare Nickel Pattern Trial (DC-33) from a counterfeit before any valuation or sale.

1867–1967 Canadian Dime Value FAQs

Methodology & Sources

Values in this guide represent typical Canadian retail asking prices for problem-free coins as of February 2026. Primary sources consulted:

• Charlton Standard Catalogue of Canadian Coins (2025 edition) — primary pricing, variety attribution, and finish definitions for Business Strike, Proof-Like, and Specimen grades.
• NGC World Coin Price Guide — Canada 10 Cents KM-67 — grade and mintage cross-reference.
• Royal Canadian Mint — 10 Cents — official specifications, mintage data, and historical background.
• PCGS — Canada 1967 Doubled Die Obverse Recognition — DDO variety attribution and diagnostics.
• Geoffrey Bell Auctions — 1967 Nickel Specimen Trial (DC-33) — realized price reference for the pattern piece.
• GreatCollections — PCGS PL-66 CAMEO Auction Record — Proof-Like cameo market reference.
• NumisBids — Heritage Auction Nickel Specimen Trial SP66 Record — high-end variety auction reference.

Silver spot price reference: approximately $108.90 CAD/oz as of February 2026 market data. Circulated coin values fluctuate with the silver spot price. Numismatic premiums at MS65 and above are less directly tied to spot price movements. This guide covers standard (non-error) issues only; error valuations are outside its scope.