1968 Canadian 1-Dollar (Voyageur Nickel Dollar) Value Guide
What is your 1968 Canadian Voyageur dollar worth? Complete CAD price guide by grade, finish (Business Strike, Proof-Like), and all die varieties — Small Island, No Island, Double Horizon Line, Extra Water Lines. Values as of February 2026.
Most 1968 Canadian Voyageur dollars are worth $1.00 (face value) in circulated grades, regardless of die variety. In gem uncirculated condition, values range from $29.20 (Standard/Large Island at MS65) up to $89.30 (Small Island at MS65) — with trophy-grade MS66 variety examples reaching $215+ CAD.
- Circulated (G4–AU50, all varieties):$1.00 face value
- MS65, Standard / Large Island (RC-900a):$29.20
- MS65, No Island (RC-900c):$46.80
- MS65, Double Horizon Line (RC-901):$50.90
- MS65, Extra Water Lines:$52.10
- MS65, Small Island (RC-900b):$89.30
- Proof-Like PL67, Standard Island:$45.00
- Proof-Like PL67, No Island:$85.00
Not silver — strongly magnetic. The 1968 dollar is 100% pure nickel with negligible intrinsic metal value. A shiny, mark-free example is almost certainly a Proof-Like coin from one of the 521,641 collector sets produced that year, not a rare high-grade Business Strike. All values in Canadian dollars (CAD) as of February 2026. See the full value chart →
1968 Canadian Voyageur Dollar — obverse (Queen Elizabeth II, Arnold Machin Second Portrait) and reverse (Emanuel Hahn Voyageur design). The island to the right of the canoe bow is the critical variety-identification zone.
The 1968 Canadian Voyageur dollar marks one of the most consequential transitions in Canadian monetary history: the permanent departure from the 80% silver dollar format used since 1935 to a smaller, 100% pure nickel planchet — a redesign forced by escalating global silver prices. This inaugural nickel dollar was struck in over 5.5 million circulation examples and more than 521,000 Proof-Like collector sets, and it spawned five distinct, highly collectible reverse die varieties caused by the nickel planchet's rapid degradation of the coinage dies. For values across all years of the Canadian dollar denomination, visit our Canadian Dollar Value Guide.
Note: Errors such as off-center strikes and wrong-planchet coins exist for 1968 but are outside the scope of this standard value guide. This guide covers non-error business strikes, Proof-Like issues, and documented die varieties only.
1968 Canadian Dollar Composition & Melt Value
Side-by-side size comparison: the 1967 80% silver dollar (36.00 mm, non-magnetic) versus the 1968 100% pure nickel dollar (32.13 mm, strongly magnetic). The size reduction was mandated to keep nickel strikes within die pressure tolerances. (Illustration — not photos of your exact coins)
The 1968 dollar permanently abolished the 80% silver and 20% copper alloy used for the denomination from 1935 through 1967. Rising global silver commodity prices made continued production of large-format silver dollars fiscally untenable for the Canadian government, compelling the Royal Canadian Mint to adopt 100% pure nickel. For a detailed account of this metallurgical transition, see the PCGS article on Canada's Nickel Dollars.
Pure nickel's extreme physical hardness created an immediate engineering crisis. Striking nickel planchets at the silver dollar's original 36.00 mm diameter required pressure that routinely shattered the tool-steel coinage dies. The solution was a significant dimensional reduction: 32.13 mm diameter, 2.62 mm thickness, and a standardized weight of 15.62 grams. This new standard persisted for all Voyageur nickel dollars through 1986.
Melt Value: The 1968 dollar contains no precious metal. Its intrinsic commodity value as a base-metal coin is negligible. All market valuation is driven entirely by numismatic grade and die variety — not metal content.
Magnetic Authentication: A 1968 Canadian dollar must be strongly attracted to a magnet — it is 100% pure nickel. This is the definitive test separating it from the non-magnetic 80% silver dollars of 1967 and earlier years. Always confirm with the official weight (15.62 g) and the reduced diameter (32.13 mm) as secondary authentication benchmarks. Any specimen deviating significantly from these specifications warrants close scrutiny.
1968 Canadian Dollar Value Chart by Grade & Finish
The market value of the 1968 Canadian dollar is governed by two factors: the precise reverse die variety and the exact state of preservation. All varieties anchor at face value through AU50; the stratification begins when coins enter Mint State condition. Values below are in CAD, sourced from Coins and Canada (February 2026) and the NGC Price Guide.
MS60 (left) versus MS65 (right) business strike comparison for the 1968 nickel dollar. The MS60 coin exhibits the heavy, brilliant bag marks characteristic of pure nickel ejected into metal production hoppers. The MS65 gem is virtually free of contact marks on the focal areas — an extreme statistical rarity for this issue. (Illustration — not photos of your exact coins)
ℹ️ CLT vs. NCLT: Two Entirely Different Markets
A 1968 MS65 business strike (Circulating Legal Tender) is exponentially rarer and more valuable than a PL65 from a mint set. The MS65 had to survive violent, high-speed production hoppers and bank-bag transport without acquiring debilitating contact marks — a near-miracle given the weight and hardness of a pure nickel planchet. The PL65 was carefully hand-loaded into individual pliofilm pockets by mint employees. Never cross-reference PL grades with MS prices; they represent entirely different manufacturing realities and survival rarity profiles.
1968 Canadian Voyageur Dollar — Business Strike (Circulation)
| Variety (Charlton #) | G4 | VG8 | F12 | VF20 | EF40 | AU50 | MS60 | MS63 | MS65 | Notes |
|---|---|---|---|---|---|---|---|---|---|---|
| Standard / Large Island (RC-900a) | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.95 | $6.90 | $29.20 | MS66 leaps to $150+ CAD. Extreme bag-mark sensitivity on the Queen's cheek and canoe hull. |
| Small Island (RC-900b) | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $2.90 | $5.90 | $11.80 | $89.30 | Highest MS65 value of all varieties. The abrasive die polishing that created this variety also inherently softened its strike characteristics, making high-grade survivors particularly scarce. |
| No Island (RC-900c) | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.95 | $5.90 | $12.30 | $46.80 | MS66 reaches $215+ CAD. Complete obliteration of the island feature drives steady collector demand. |
| Double Horizon Line (RC-901) | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $7.80 | $9.80 | $19.60 | $50.90 | MS66 reaches $215+ CAD. Manually re-engraved die; values climb sharply as surface preservation improves toward gem. |
| Extra Water Lines (Unlisted) | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $9.80 | $14.70 | $27.70 | $52.10 | Consistent premium across all uncirculated tiers. MS65 marks the typical ceiling of current market availability. |
⚠️ The MS64–MS66 Value Cliff
The value curve for the 1968 dollar is mathematically steep. The jump from MS65 to MS66 is dramatic: Standard coins leap from $29.20 (MS65) to $150+ CAD (MS66). Variety coins — No Island and Double Horizon Line — reach $215+ CAD at MS66. The extreme hardness of pure nickel makes bag-mark-free gem survivors a genuine rarity. Third-party graders at these elite levels demand pristine, unblemished focal areas and a fully realized strike — a combination that is statistically improbable for 1968 business strikes.
1968 Canadian Voyageur Dollar — Proof-Like (PL) Collector Finishes
The Royal Canadian Mint produced 521,641 six-coin Proof-Like sets in 1968, each sealed in heat-welded pliofilm (cellophane) envelopes. Because the pliofilm format made these sets easy to open, hundreds of thousands of PL dollars have entered the secondary singles market over the decades. A coin that appears mirror-brilliant and free of bag marks is almost certainly a PL strike — not a rare high-grade business strike. Cameo (CAM) and Heavy Cameo (HCAM) designations command significant premiums: CAM typically doubles the base PL value, and HCAM can triple it, provided the fields are completely free of PVC haze. PL variety data sourced from London Coin Centre and Coins Unlimited (February 2026). Note: The 1968 transitional issue is overwhelmingly classified as PL by the Royal Canadian Mint and in foundational Canadian cataloguing literature. The existence of true Specimen (SP) strikes for this year is a subject of historical debate; any high-mirrored piece encountered should be assumed PL unless uniquely attributed by ICCS, PCGS, or NGC.
| PL Variety | PL63 | PL64 | PL65 | PL66 | PL67 | Cameo / Heavy Cameo Note |
|---|---|---|---|---|---|---|
| Standard Island | $3.50 | $4.50 | $7.00 | $15.00 | $45.00 | CAM typically doubles base PL value; HCAM can triple it — only when fields are free of PVC haze. |
| Extra Water Lines | $15.00 | $20.00 | $25.00 | $40.00 | $75.00 | Recognized variety found encapsulated in intact, sealed PL pliofilm sets carries sustained premiums. |
| No Island | $10.00 | $14.95 | $25.00 | $50.00 | $85.00 | Complete intact 1968 No Island PL sets retail around $14.95–$19.95 CAD; individual PL67 coins command the high-end premiums. |
⚠️ PVC Damage Risk on 1968 Pliofilm Sets
Proof-Like coins stored in original 1968 pliofilm packaging may develop a cloudy, milky PVC haze as the vintage plasticizers chemically break down over decades, depositing corrosive polyvinyl chloride residue onto the mirrored surfaces. Attempting to wipe this haze with a jewelry cloth, abrasive tissue, or chemical dip instantly inflicts microscopic hairlines on the mirror fields, permanently downgrading the coin to a "Details — Cleaned" status. Professional conservation by Numismatic Conservation Services (NCS) is the only safe remedy. Damaged PL coins revert to near-face value regardless of the underlying die variety.
⚠️ Never Clean Your 1968 Dollar
Cleaning a 1968 Canadian dollar — whether a business strike or PL — permanently destroys its numismatic premium. Even a gentle wipe leaves hairlines visible under magnification. A cleaned coin is graded "Details" (impaired) by all major services and loses all collector value regardless of its die variety or underlying preservation.
All values in CAD represent typical market prices as of February 2026. For the complete denomination price guide, see our Canadian Dollar Value Guide.
Most Valuable 1968 Canadian Dollar Varieties
The 1968 Voyageur dollar is the most variety-rich Canadian dollar in its denomination series — its reverse die variants directly caused by the mechanical crisis of transitioning from silver to pure nickel. As hardened nickel planchets rapidly deteriorated the shallow relief of Emanuel Hahn's Voyageur reverse, mint technicians were forced into repeated abrasive die-polishing cycles that inadvertently sanded away key design elements: the island tip and the horizon line. For an authoritative, illustrated account of the physics behind these varieties, see the Saskatoon Coin Club's 1-Dollar variety identification guide. Because the mint produced over 5.5 million business strikes and 521,641 PL sets in 1968, these die variations are widely distributed and highly findable in raw collections, bank rolls, and broken pliofilm sets.
Trophy-Level: Highest-Value 1968 Dollar Examples
These results represent the zenith of the market. They are strictly trophy-level and NOT typical.
| Trophy Example | Why It Commands a Premium | Grade Requirement | Typical High-End Value (CAD) | Source |
|---|---|---|---|---|
| Standard Voyageur, MS67 | A business strike in MS67 defied near-universal bag-mark devastation from high-speed production hoppers. Requires a flawless planchet with zero visible impact marks on the Queen's cheek (primary obverse focal point) or the Voyageur canoe (primary reverse focal point). | MS-67 (PCGS/NGC) | ~$100–$300 CAD | PCGS CoinFacts / Heritage Records |
| No Island (RC-900c), MS66 | The No Island variety comes from a heavily degraded, repeatedly polished die, which inherently weakens strike pressure. Finding a No Island coin that simultaneously achieves MS66 — surviving hoppers perfectly despite the die's already softened state — is a statistical rarity fiercely contested by advanced variety specialists. | MS-66 (ICCS/PCGS) | ~$215+ CAD | Coins and Canada (Feb 2026) |
| Double Horizon Line (RC-901), MS66 | This manually re-engraved die variety is notoriously scarce in high uncirculated grades. An MS66 example is heavily contested by advanced Charlton variety specialists attempting to construct complete chronological registry sets. | MS-66 (ICCS/PCGS) | ~$215+ CAD | Coins and Canada (Feb 2026) |
| PL66 or PL67, Heavy Cameo | Standard, hazy PL sets are ubiquitous and trade at modest sums. A PL67 Heavy Cameo requires flawless liquid mirror fields with deeply frosted devices — coins typically extracted from the acidic pliofilm packaging immediately upon issue to escape decades of PVC environmental damage. | PL-67 with HCAM (PCGS/NGC) | ~$70–$100 CAD | PCGS Auction Prices / Apex Auctions (Feb 2026) |
Findable Varieties: What to Look for in Your Collection
All five primary varieties are findable in raw collections, bank rolls, and broken pliofilm sets. Use a 5x–10x jeweler's loupe and a directional incandescent light source focused on the right side of the reverse. Variety photographs and diagnostic reference imagery are available through the Calgary Coin Gallery's Voyageur dollar reference.
| Variety | Charlton # | Key Diagnostic | MS Value Range | PL Value Range |
|---|---|---|---|---|
| Standard / Large Island | RC-900a | Island tip to right of canoe bow is sharply defined, physically raised, surrounded by distinct, deeply cut water lines. The intended, original design — diagnostic control for all other varieties. | $1.00–$29.20 (G4–MS65) | $3.50–$45.00 (PL63–PL67) |
| Small Island | RC-900b | Island tip is visibly shrunken and flattened; surrounding water lines are brief and shallow, leaving only a faint structural ghost of the full island. | $1.00–$89.30 (G4–MS65) | No specific PL pricing documented in source |
| No Island | RC-900c | Island tip is entirely absent; water lines continue uninterrupted across that field. At most, a trace ghost visible only at highly specific lighting angles. | $1.00–$215+ CAD (G4–MS66) | $10.00–$85.00 (PL63–PL67) |
| Double Horizon Line (DHL) | RC-901 | Two distinct, closely stacked parallel horizontal lines traverse the background, separating the water from the sky — result of a mint engraver manually re-cutting the horizon line slightly offset from the original after polishing erased it. | $1.00–$215+ CAD (G4–MS66) | No specific PL pricing documented in source |
| Extra Water Lines (EWL) | Unlisted | Additional, distinct parallel ridges of water are visible directly beneath the hull of the canoe, breaking the standard rhythmic wave pattern of Hahn's original design. | $1.00–$52.10 (G4–MS65) | $15.00–$75.00 (PL63–PL67) |
| Double Die Reverse (DDR) | Unlisted | Visible mechanical hub doubling on the lettering of "CANADA," "DOLLAR," and the last two digits of the date ("68"). True hub doubling — not machine doubling. | Insufficient public pricing data — a premium exists but is highly variable based on the severity of the doubling. | |
Three-way comparison of the 1968 dollar island varieties. LEFT: Standard/Large Island (RC-900a) — sharply defined, raised island tip surrounded by distinct water lines. CENTRE: Small Island (RC-900b) — shrunken tip, shallow water lines, ghost outline only. RIGHT: No Island (RC-900c) — water lines continue uninterrupted with no visible landmass. Use a 5x–10x loupe on the area to the right of the canoe bow. (Illustration — not photos of your exact coins)
Standard horizon line (left) versus Double Horizon Line / RC-901 (right). On the DHL variety, two closely stacked parallel lines are clearly visible separating the water from the Northern Lights background — the direct result of a mint engraver manually re-cutting the line after polishing erased the original. (Illustration — not photos of your exact coins)
1968 Canadian Dollar Identification Guide
Evaluating a 1968 Canadian dollar requires confirming its transitional specifications, assessing its surface finish, and applying a loupe to locate the specific reverse die variety. The checklist below takes an experienced examiner approximately 30 seconds with a 5x–10x loupe and a directional light source.
30-Second Diagnostic Checklist
- Monarch / Obverse Effigy: Confirm Queen Elizabeth II wearing a tiara, Arnold Machin's Second Portrait (introduced 1965, used through the late 1980s). The legend reads ELIZABETH II D·G·REGINA. Reference the Numista 1968 dollar entry for detailed obverse imagery.
- Reverse Design: Verify Emanuel Hahn's classic Voyageur design — a birch-bark canoe paddled by a voyageur and an Indigenous person, set against a wind-swept islet with trees, and the vertical striations of the Northern Lights in the background.
- Edge Check: The edge must be continuously reeded (milled) without any interruption. A plain-edged piece is not genuine.
- Magnet Test (Composition Verification): Apply a strong magnet. The 1968 dollar is 100% pure nickel and must be strongly attracted. This is the definitive test separating it from the completely non-magnetic 80% silver dollars of 1967 and earlier. Confirm authenticity with the official weight (15.62 g) and reduced diameter (32.13 mm) as secondary checks.
- No Documented Mint Marks: Standard for Canadian circulation coins of this era — no mint marks are present on 1968 business strikes or PL issues.
- Finish Identification: See the Finish Identification Protocol below.
- Variety Identification: See the Island, Horizon Line, and Extra Water Lines detection guidance below.
Magnet test for the 1968 Canadian dollar. The coin is 100% pure nickel and must be strongly attracted to a magnet (left) — confirming its base-metal composition. A 1967 or earlier 80% silver dollar (right) is completely non-magnetic. This is the fastest authentication step. (Illustration — not a photo of your exact coin)
Finish Identification Protocol
- Business Strike (MS): Standard satiny or cartwheel luster from high-speed production runs. Due to the extreme hardness of nickel and the brutal mechanics of the mint's metal holding bins, virtually all 1968 business strikes exhibit deep, brilliant bag marks — especially on the Queen's cheek and the Voyageur canoe hull. These contact marks are a hallmark of the type and a core reason gem MS65+ survivors are so rare and valuable.
- Proof-Like (PL): Highly reflective, liquid mirror-like background fields, often with slight white frost (Cameo) on the raised devices. Originally issued sealed in flat, heat-welded pliofilm (cellophane) six-coin envelopes. If a 1968 dollar appears mirror-brilliant and free of the heavy bag marks typical of circulation strikes, it is almost certainly a PL coin extracted from one of the 521,641 collector sets produced that year.
- Specimen (SP): The 1968 transitional issue is overwhelmingly classified as PL in foundational cataloguing literature. The existence of true SP strikes for this year is a subject of historical debate in the specialized Canadian numismatic community. The vast majority of high-quality collector strikes are officially classified as PL. Any high-mirrored piece should be assumed PL unless uniquely attributed by ICCS, PCGS, or NGC.
Business Strike (left) versus Proof-Like (right) for the 1968 Voyageur dollar. The business strike shows standard cartwheel luster with visible bag marks on the Voyageur canoe focal area. The Proof-Like exhibits liquid mirror fields with frosted, cameo-contrast devices. A shiny, mark-free 1968 dollar is almost always a PL coin from a broken collector set. (Illustration — not photos of your exact coins)
Locating the Island and Horizon Varieties
Precise variety attribution requires a 5x–10x jeweler's loupe and a directional incandescent or halogen light source to manipulate shadows across the shallow relief of the reverse.
Island Analysis (right side of reverse): Direct your loupe to the far right of the reverse face, focusing on the area directly to the right of the canoe's bow, just beneath the wind-swept trees on the right-hand islet. On the Standard (Large) Island (RC-900a), the tip of the landmass is sharply defined and physically raised. On the Small Island (RC-900b), the tip is drastically reduced and flattened — only a faint structural ghost remains. On the No Island (RC-900c), the water lines continue uninterrupted with no raised landmass whatsoever.
Horizon Line Analysis (background): Shift focus to the horizontal line separating the water from the sky and the Northern Lights striations. A normal strike shows one clean, single line. The Double Horizon Line (DHL / RC-901) shows two closely stacked parallel lines — the direct result of a mint engraver manually re-cutting the horizon after polishing erased the original groove.
Extra Water Lines Analysis (beneath the canoe hull): Direct your loupe to the water ripples immediately beneath the canoe hull. The EWL variety presents additional, distinct ridges of water that awkwardly break the standard rhythmic wave pattern of Hahn's original aquatic design.
Close-up of the Extra Water Lines (EWL) variety on the 1968 Voyageur dollar reverse. Red arrows indicate the additional, distinct parallel water ridges beneath the canoe hull that break the standard rhythmic wave pattern. Use a 5x–10x loupe with a directional light source for identification. (Illustration — not a photo of your exact coin)
1968 Canadian Dollar Value FAQs
What is a 1968 Canadian dollar worth?
In circulated grades (G4 through AU50), all varieties of the 1968 Canadian Voyageur dollar are worth $1.00 face value. Value stratifies sharply in Mint State condition: the Standard/Large Island is worth $29.20 at MS65, while the Small Island — the most valuable variety at MS65 — reaches $89.30. The No Island, Double Horizon Line, and Extra Water Lines varieties fall in the $46.80–$52.10 range at MS65. Proof-Like coins trade for $3.50–$85.00 depending on variety and grade. All values are in CAD as of February 2026.
Is the 1968 Canadian dollar silver?
No. The 1968 dollar is 100% pure nickel and contains no silver or precious metal content. The 1967 Canadian dollar was the last year of the 80% silver dollar format; from 1968 onward, the denomination switched permanently to base-metal nickel. The definitive confirmation test is a magnet: a 1968 dollar is strongly magnetic, while a 1967 or earlier 80% silver dollar is completely non-magnetic. The intrinsic commodity value of the 1968 coin is negligible — all value is numismatic.
What die varieties exist for the 1968 Canadian dollar and how do I find them?
Five primary non-error die varieties are documented: Standard/Large Island (RC-900a), Small Island (RC-900b), No Island (RC-900c), Double Horizon Line (RC-901), and Extra Water Lines (unlisted). A sixth variety, the Double Die Reverse, also exists but carries insufficient public pricing data. To identify them, use a 5x–10x loupe and a directional light source focused on the island tip to the right of the canoe bow and the horizon line in the background. The Saskatoon Coin Club's online 1-Dollar variety guide provides detailed visual identification for each die state.
What is the difference between a Business Strike and a Proof-Like coin?
Business strikes (MS) were produced at high speed for commercial circulation using standard dies and planchets, resulting in a satiny cartwheel luster — and almost universally, deep bag marks on the 1968 coin from being ejected into metal holding bins. Proof-Like (PL) coins were struck using specially polished dies and hand-prepared planchets for the collector market, producing a liquid-mirror field with frosted, cameo-like devices. PL coins were sealed individually in pliofilm pockets within six-coin sets. A shiny, mark-free 1968 dollar found loose is almost always a PL strike from a broken collector set — not a rare high-grade business strike.
Why is a 1968 MS65 business strike worth so much more than a PL65?
An MS65 business strike had to survive violent, high-speed production hoppers and bank-bag transport without acquiring debilitating contact marks — a near-statistical impossibility given the weight and hardness of a pure nickel planchet. A PL65 was carefully hand-loaded into an individual pliofilm pocket by a mint employee and isolated from all mechanical contact. Because PL65 coins are vastly more common survivors, they trade at a fraction of the premium commanded by a bag-mark-free MS65 business strike. Never cross-reference PL grades with MS prices.
Should I get my 1968 Canadian dollar professionally graded?
Professional grading by ICCS, PCGS, or NGC is economically justified when a coin appears to grade MS65 or higher, particularly for the premium varieties (Small Island, No Island, Double Horizon Line). The International Coin Certification Service (ICCS) is highly respected domestically for its conservative, scholarly attribution of Charlton-listed varieties and is the standard reference for Canadian variety specialists. PCGS and NGC provide superior long-term slab preservation and dominate international auction markets for registry-level coins. For coins in the MS60–MS64 range — where values remain modest — grading costs typically exceed the numismatic premium gained.
How do I identify the No Island variety?
Use a 5x–10x loupe with a directional light source. Focus on the far right of the reverse, directly to the right of the canoe's bow, beneath the trees on the right-hand islet. On a Standard (Large Island) coin, you will see a clearly defined, raised island tip surrounded by distinct water lines. On a No Island (RC-900c), the water lines continue uninterrupted across that area with no raised landmass visible — at most, a faint ghost may appear only at a very specific lighting angle. No visible island tip equals the No Island variety.
My PL coin has a cloudy film on it — what should I do?
That cloudy, milky haze is PVC contamination from the original pliofilm packaging. The vintage plasticizers in the 1968 cellophane have broken down over decades, depositing corrosive polyvinyl chloride residue onto the mirror fields. Do not wipe, rub, or dip the coin with household cleaners, jewelry cloths, or chemical polish — doing so instantly inflicts microscopic hairlines that permanently destroy the Proof-Like finish and reduce the coin to a "Details — Cleaned" grade. Professional conservation by Numismatic Conservation Services (NCS) is the only safe course of action to halt further degradation.
What is the Double Horizon Line variety and why is it valuable?
The Double Horizon Line (RC-901) was caused by human intervention at the Royal Canadian Mint. After aggressive die polishing accidentally erased the original horizon line separating the water from the Northern Lights background, a mint engraver manually re-cut the line — but slightly offset from the original groove. Both lines are now visible on struck coins as two closely stacked parallel lines traversing the background of the Voyageur scene. In high uncirculated grades, DHL examples are notoriously scarce. At MS65, the DHL variety is valued at $50.90 CAD; at MS66, it reaches $215+ CAD.
Methodology & Sources
Values reflect typical secondary market prices in Canadian dollars (CAD) as of February 2026. This guide does not constitute investment advice. Prices fluctuate based on market conditions, buyer competition, and individual coin quality. All numeric data — prices, mintage figures, and specifications — are reproduced from the sources listed below.
- Charlton Standard Catalogue of Canadian Coins — Core variety attribution (RC-900a, RC-900b, RC-900c, RC-901) and NCLT vs. CLT contextualization
- Coins and Canada — Base commercial pricing metrics, grade-by-grade value mapping, and variety comparisons (Feb 2026)
- NGC Price Guide — Proof-Like pricing and international grade terminology mapping
- PCGS CoinFacts — High-end MS67/PL67 market records and metallurgical transition history
- PCGS Auction Prices — PL top-pop auction records
- Saskatoon Coin Club — Visual variety identification guide for die polishing and re-engraving varieties
- Royal Canadian Mint (mint.ca) — Official composition specifications and mintage figures
- Numista — Coin specifications and international collector reference
- London Coin Centre and Coins Unlimited — PL set retail pricing and original pliofilm packaging specifications
- Calgary Coin Gallery — Secondary diagnostic reference for Voyageur dollar variety identification
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.