1987 Canadian 50-Cent (Half Dollar) Value Guide
Find out what your 1987 Canadian 50-cent piece is worth. Full price guide by grade and finish — Business Strike, Proof-Like, Specimen, and Proof — with current CAD values as of February 2026.
Most 1987 Canadian 50-cent pieces in circulated grades are worth exactly $0.50 (face value). In Gem Uncirculated (MS65) condition, the business strike reaches $3.50. Top-certified examples (PF70, MS68) can command $60+.
- Circulated (G4–AU50):$0.50 — face value only
- Business Strike MS65:$3.50 · MS66: $4.50+
- Proof-Like (PL65):$3.00 — Heavy Cameo adds ~20–30% when confirmed by grading service
- Specimen (SP65):$2.50 · SP67: $4.50
- Proof (PF65):$4.50 · PF67: $7.00 · PF69 DCAM: $20–$25
- Trophy Grade (PF70 / MS68):$60+
Not silver — 99% nickel: This coin is strongly magnetic and contains no precious-metal content. A shiny example found loose is almost certainly a Proof-Like or Specimen coin from a broken mint set, not a rare high-grade business strike. The 1987 half dollar rarely circulates today; most collector-finish examples come directly from Royal Canadian Mint packaging. All values in CAD as of February 2026. See full value chart →
The 1987 Canadian 50-cent piece marks the definitive turning point in the denomination's modern history. That year, the Royal Canadian Mint launched the eleven-sided aureate-bronze "Loonie" dollar coin, which collapsed commercial demand for the half dollar and drove its business-strike mintage to a then-historic low of just 373,000 — less than half the preceding year's output of 781,400. From this year forward, the denomination would never again serve as a meaningful medium of daily commerce, transitioning instead into a low-mintage collectible issued primarily for the collector market. For values across all years and designs, see our Canadian Half Dollar Value Guide.
Note: Errors such as wrong-planchet strikes and off-center coins exist for 1987 Canadian coinage but are outside the scope of this standard value guide.
1987 Canadian 50-Cent Composition & Melt Value
Although base-metal Canadian coinage is commonly described as "pure nickel," the Royal Canadian Mint's official metallurgical specification for 50-cent pieces struck between 1980 and 1999 is a minimum of 99% nickel — not the 99.9% purity specification used from 1968 to 1979. The remaining trace elements (iron, copper, and carbon) are natural byproducts of the electrolytic nickel refining process; their presence marginally increases ductility, which helps the minting presses bring up the exceptionally high relief of the Thomas Shingles Coat of Arms design without prematurely fatiguing the hardened steel dies.
The 1987 half dollar contains zero precious metal content. No silver, gold, or platinum is present in the alloy. Nickel trades in industrial bulk at a fraction of a cent per gram on commodity markets, meaning the intrinsic melt value of a single 8.10-gram coin is negligible — a fraction of a single cent. This coin's entire monetary worth rests on its face value of $0.50 CAD or its recognized numismatic premium.
Left: a properly stored 1987 Canadian 50-cent piece with original brilliant nickel surfaces. Right: a coin damaged by PVC outgassing from a vintage plastic flip, showing the characteristic green, sticky residue on the fields. Immediate professional conservation with pure acetone is required to halt further acid damage. (Illustration — not a photo of your exact coin)
The 99% nickel composition has one key and immediately testable physical consequence: strong ferromagnetism. A standard household magnet will immediately and powerfully attract this coin. This single test is your fastest authentication tool — it instantly distinguishes the 1987 half dollar from pre-1968 silver half dollars (non-magnetic) and from the multi-ply plated-steel compositions introduced in later years. See the Identification Guide for the full magnet-test procedure.
⚠️ PVC Damage Risk
Proof-Like coins of this era stored in pliable aftermarket plastic flips from the 1980s may develop a sticky, acidic green PVC residue over decades. If you see this on the surface of your coin, it requires professional conservation with pure acetone — do not use nail polish remover or other household solvents. Left untreated, the hydrochloric acid released by the degrading plastic will permanently pit the nickel surface, destroying all numismatic value and reducing the coin to face value ($0.50).
1987 Canadian 50-Cent Value Chart by Grade & Finish
The 1987 Canadian 50-cent piece was struck in four distinct finishes. Values differ dramatically by finish and by grade — a circulated business strike is worth face value, while the same denomination in a top certified grade can command many times more. The tables below reflect typical retail market prices in CAD as of February 2026, sourced from the NGC World Coin Price Guide and domestic dealer references.
1987 Canadian 50 Cents — Business Strike (Circulation)
Mintage: 373,000. Standard business strikes carry no numismatic premium in circulated grades. Collector demand begins strictly at the Mint State threshold, where bag-mark-free survival becomes increasingly rare due to the hardness of the 99% nickel planchet.
| Type / Design | G4 | VG8 | F12 | VF20 | EF40 | AU50 | MS60 | MS63 | MS65 | Notes |
|---|---|---|---|---|---|---|---|---|---|---|
| Coat of Arms (Machin obverse) | $0.50 | $0.50 | $0.50 | $0.50 | $0.50 | $0.50 | $1.00 | $2.50 | $3.50 | MS66: $4.50+. Value cliff accelerates sharply at MS66–MS67 due to bag marks endemic to hard nickel planchets. No mint marks on any 1987 issue. |
ℹ️ The MS66/MS67 Value Cliff
Uncirculated 1987 half dollars in MS60–MS64 are easily acquired for a few dollars. The meaningful value jump occurs at MS66, where genuine conditional scarcity begins. The 99% nickel planchet is one of the hardest coining materials used by the Royal Canadian Mint; automated ejection and high-speed bagging leaves virtually all coins with at least minor contact marks. Finding a 1987 business strike completely free of such marks is statistically rare, making MS66 and higher examples true condition rarities despite the 373,000 mintage.
Grade comparison for the 1987 Canadian 50-cent business strike: worn circulated (EF40, worn high points) vs. Choice Uncirculated (MS63, minor bag marks) vs. Gem Uncirculated (MS65, near-pristine cartwheel luster). (Illustration — not a photo of your exact coin)
1987 Canadian 50 Cents — Collector Finishes (PL, SP & Proof)
All three collector finishes were struck specifically for RCM mint sets and packaged immediately upon production, meaning the overwhelming majority survive today in high grades. Baseline premiums are accordingly modest through grade 67; significant premiums emerge only at grades 68, 69, and 70 — where survival without milk spots, surface haze, or any detectable friction becomes genuinely rare.
| Finish | Mintage | Grade 65 | Grade 67 | Notes |
|---|---|---|---|---|
| Proof-Like (PL) | 212,136 | $3.00 | — | Heavy Cameo (intense frosting on Queen/Arms) adds approximately 20–30% above standard PL prices when confirmed by a grading service. From flat pliofilm (cellophane) Uncirculated Sets. PVC storage risk — see composition section. |
| Specimen (SP) | 74,441 | $2.50 | $4.50 | Lowest mintage of all four 1987 finishes. From booklet-style Specimen Sets. Matte/lined fields are highly vulnerable to friction — any rub on the Queen's cheekbone precludes top grades. |
| Proof (PF) | 179,004 | $4.50 | $7.00 | Inherent Deep Cameo (DCAM) contrast — ultra mirror fields, opaque white frosted devices. From hard plastic capsules in velvet/leatherette Prestige Set boxes. Primary threat to top-grade survival is milk spotting and surface haze. |
1987 Canadian 50 Cents — Trophy-Grade Values
The following values represent the absolute apex of the grading scale — coins that survived minting and distribution without a single detectable flaw. These are emphatically not typical values for coins removed from standard mint sets or found loose in collections. They apply exclusively to coins independently authenticated and encapsulated by a recognized third-party grading service.
| Finish & Grade | Documented Value Range | Why Conditionally Rare |
|---|---|---|
| Proof PF69 DCAM | $20–$25 | A top-grade Proof must be completely free of the milk spotting and surface haze that plague 1980s nickel Proofs. Only a handful pass this threshold out of 179,004 struck. |
| Proof PF70 | $60+ | Mathematically perfect grade. Registry competition among advanced collectors drives premiums above PF69. |
| Specimen SP69 | $22–$40 | The matte/lined Specimen finish is the most vulnerable to friction of all four finishes. Visual contrast level also affects the price range within SP69. |
| Business Strike MS68 | ~$60 | Extreme conditional rarity. Hard nickel planchets acquire bag marks at virtually every grade below MS68 from the 373,000-coin circulation run. |
Values in CAD as of February 2026. For the complete denomination price guide, see our Canadian Half Dollar Value Guide.
Most Valuable 1987 Canadian 50-Cent Varieties
Unlike many Canadian 50-cent issues — the 1982 "Large Beads" vs. "Small Beads" split being the most notable example — the 1987 half dollar carries no Charlton-recognized die varieties. The Arnold Machin portrait and the Thomas Shingles Coat of Arms were produced with manufacturing uniformity throughout the entire run. There are no overdates, repunched dates, or documented bead-count distinctions for this year. The NGC World Coin Price Guide and domestic variety references confirm zero Charlton-listed varieties for the 1987 issue.
For this date, rarity is driven entirely by conditional scarcity (grade) and finish identification. The three meaningful split points that separate common examples from genuinely valuable ones are outlined below.
| Split Point | Charlton # | How to Identify | Why Rarer | Premium Impact |
|---|---|---|---|---|
| High-Grade Business Strike (MS66+) | N/A | Uniform frosty cartwheel luster across all surfaces; lacks the mirror fields of PL/PF or the matte texture of SP. Minor bag marks are virtually inevitable on genuine MS examples. | Only 373,000 minted; most acquired contact marks during automated ejection and high-speed bagging. Pristine survivors are statistical anomalies. | Noticeable premium at MS66 ($4.50+); top-pop MS68 documented at ~$60. |
| Specimen (SP) Finish | N/A | Parallel, microscopic lines or distinct matte/satin texture in background fields, contrasting sharply with frosted relief devices. From booklet-style presentation sets only. | Lowest absolute mintage of all four 1987 finishes (74,441); exclusively distributed in premium collector packaging. | Modest base premium through SP67; highly sought at SP68+ for advanced type-set registry building. |
| Proof-Like Heavy Cameo | N/A | Mirror-like fields combined with intense, thick white frosting on the Queen's bust and Coat of Arms — characteristic of early strikes from fresh PL dies before die wear reduces contrast. | Heavy Cameo contrast degrades progressively as dies wear through the production run; only the earliest strikes from a given die exhibit it. | Approximately 20–30% premium above standard PL prices when the Heavy Cameo designation is confirmed on the holder label by a recognized grading service. |
Key high-relief diagnostic areas on the 1987 Canadian 50-cent obverse for top-grade assessment: (1) Queen's cheekbone, (2) eyebrow ridge, (3) tiara peaks. Weakness or flatness at any of these points precludes MS67+ grades even on otherwise pristine coins.
Strike quality diagnostic: When evaluating a 1987 half dollar for potential top-tier certification, examine the coin under magnification at the highest relief points. On the obverse, check Queen Elizabeth II's cheekbone, eyebrow, and the peaks of the diamond tiara. On the reverse, inspect the intricate central shield detail, the lion's facial features, and the unicorn's horn. Any softness, flatness, or loss of crisp definition in these areas disqualifies the coin from Superb Gem (MS67+) grades — even if the surrounding fields are pristine and free of contact marks. This is the fundamental challenge of top-grading 99% nickel coinage: the metal's extreme hardness resists complete die-fill at the highest relief points and registers every microscopic abrasion.
1987 Canadian 50-Cent Identification Guide
Correctly identifying the finish of your 1987 Canadian 50-cent piece is the most critical step in establishing its value. The Royal Canadian Mint struck this denomination in four distinct finishes that look superficially similar to an untrained eye but are worth very different amounts. A Proof coin from a velvet presentation box and a circulated business strike are not the same coin.
30-Second Diagnostic Checklist
- Monarch Check: Confirm Queen Elizabeth II faces right, wearing a diamond tiara with hair swept back. This is the Arnold Machin "Second Portrait," used on Canadian coinage from 1965 to 1989. The legend reads ELIZABETH II D·G·REGINA.
- Reverse Check: Verify the intricate Canadian Coat of Arms — a quartered central shield flanked by a rampant lion (left) and a chained unicorn (right), with the national motto ribbon "A Mari usque ad Mare" at the base.
- Date Check: Locate "1987," positioned on the reverse flanking the royal crown at the very top of the design.
- Edge Check: Run your finger along the rim — it must be fully reeded (milled grooves). A smooth edge indicates severe post-mint damage or a major mint error (out of scope for this guide).
- Magnet Test (Composition Verification): Hold a standard household magnet near the coin. It will be strongly and immediately attracted — this is the 99% nickel composition at work. No magnetic response whatsoever means the coin is not a standard 1987 issue; confirm weight (8.10 g) and diameter (27.13 mm) as secondary checks. This test instantly distinguishes the 1987 half dollar from pre-1968 silver half dollars, which are non-magnetic.
- Mint Marks: No mint mark is present on any finish of the 1987 Canadian 50-cent piece. This is standard for Canadian coins of this era regardless of which facility struck them.
- Finish Identification: See the detailed guide below — this is the single most important step for correct valuation.
1987 Canadian 50-cent piece: obverse (left) showing the Arnold Machin portrait of Queen Elizabeth II in a diamond tiara (the Second Portrait, used 1965–1989), and reverse (right) showing the Thomas Shingles Canadian Coat of Arms with "A Mari usque ad Mare" motto and 1987 date flanking the royal crown.
Advanced Finish Identification
Examine the coin under a single incandescent light source. Tilt it slowly — the direction and behaviour of reflected light reveals the finish type. Consult NGC's official guide to SP and PL finishes and the Colonial Acres guide to Canadian coin finishes for detailed visual references and comparisons.
The four distinct finishes of the 1987 Canadian 50-cent piece, left to right: Business Strike (frosty cartwheel luster on all surfaces), Proof-Like (mirror fields, mildly frosted devices), Specimen (matte/lined fields, brilliantly frosted raised devices), Proof (deep mirror near-black fields, heavy opaque white frosting). (Illustration — not a photo of your exact coin)
- Business Strike (MS): Fields and devices share a uniform frosty "cartwheel" luster that rolls across the coin's surface when tilted under light. Minor bag marks and contact points are virtually inevitable on any genuine circulation strike. Produced on high-speed presses for commercial distribution.
- Proof-Like (PL): Fields are highly reflective and mirror-like; devices are brilliant with mild frosting. Originally sealed in flat transparent pliofilm (cellophane) Uncirculated Sets. PL contamination warning: With 212,136 PL sets produced in 1987, many have been broken open. A "shiny" 1987 half dollar found loose is almost certainly a PL coin, not a rare high-grade business strike — dealers routinely discount raw "Uncirculated" coins from this era for exactly this reason.
- Specimen (SP): The most distinctive and hardest-to-replicate finish. Background fields exhibit a matte, satin, or finely engraved parallel-lined texture; this provides a subdued background that contrasts elegantly against the brilliantly frosted raised devices. Originally housed in a rigid presentation booklet. Note: ICCS's "Heavy Cameo" designation on Specimen and Proof-Like coins is the functional equivalent of PCGS's "Deep Cameo" (DCAM) and NGC's "Ultra Cameo" designations — all three describe the same high-contrast frosting effect.
- Proof (PF): Deep mirror fields appear almost black when the coin is angled away from the light source; raised devices are coated in dense, opaque, snow-white frosting. Struck multiple times on slow-speed presses from meticulously polished dies with hand-fed planchets. From hard plastic capsules within velvet or leatherette Prestige Set boxes.
⚠️ Never Clean Your Coins
Cleaning — whether abrasive wiping, chemical dipping, or rinsing — leaves microscopic hairlines visible under magnification. A cleaned 1987 half dollar is graded "Details — Cleaned" and reverts to face value ($0.50) regardless of remaining luster. Unlike silver and copper, pure nickel does not tone in vibrant rainbow colours; any bright artificial colouring on a 1987 half dollar is almost certainly the result of chemical acceleration and is treated as damage.
The magnet quick-test: a standard household magnet strongly attracts the 1987 Canadian 50-cent piece due to its 99% nickel composition. No magnetic response means the coin is not a standard 1987 issue — confirm weight (8.10 g) and diameter (27.13 mm) as secondary checks.
1987 Canadian 50-Cent Value FAQs
What is a 1987 Canadian 50-cent piece worth?
A circulated 1987 Canadian 50-cent coin is worth exactly $0.50 CAD (face value) — base-metal modern coins carry no numismatic premium when worn. In Gem Uncirculated (MS65) condition, the business strike is worth $3.50. Collector-finish coins start at $2.50–$4.50 in grade 65 (SP65: $2.50; PL65: $3.00; PF65: $4.50) and climb steeply only at extreme apex grades. Top-certified examples such as PF70 and MS68 have been documented at $60+. All values in CAD as of February 2026.
Is the 1987 Canadian 50-cent piece rare?
In circulated grades, no — it is not rare, though its business-strike mintage of 373,000 is historically low for the denomination. In truly high certified grades (MS66–MS68 for business strikes; SP69–SP70 and PF69–PF70 for collector finishes), the coin is genuinely scarce: hard nickel planchets acquire contact marks extremely readily, making flawless survivors statistical anomalies. There are no Charlton-listed die varieties that create additional variety-specific rarity for this year.
Is my 1987 Canadian 50 cents silver?
No. The 1987 Canadian 50-cent piece is composed of a minimum of 99% nickel — there is no silver, gold, or platinum content whatsoever. Canadian 50-cent pieces were last struck in silver in 1967. The fastest confirmation is the magnet test: the 1987 coin is strongly magnetic (nickel), while all silver half dollars are non-magnetic. Weight (8.10 g) and the dull bright-white metallic colour also differ from the warmer grey-white appearance of historical silver half dollars.
What is the difference between Proof-Like (PL) and Specimen (SP)?
Both are collector finishes superior to standard business strikes, but they are produced differently and look distinct under examination. A Proof-Like coin has highly reflective mirror fields with mildly frosted devices; it was included in the RCM's flat pliofilm Uncirculated Sets (1987 mintage: 212,136). A Specimen coin has a unique matte, satin, or finely lined textured field background with brilliantly frosted raised devices; it was struck for premium booklet-style Specimen Sets (1987 mintage: 74,441). For detailed visual guidance, see NGC's guide to SP and PL prefixes.
What makes the most valuable 1987 half dollars worth so much?
The highest values are driven entirely by conditional rarity — surviving the minting and distribution process without a single detectable flaw. The 99% nickel planchet is one of the hardest coining materials the RCM uses; it resists complete die-fill at the highest relief points and shows every microscopic abrasion under magnification. Finding a 1987 business strike or Proof completely free of contact marks, milk spots, or surface haze is genuinely difficult despite the six-figure mintages. Registry competition among advanced collectors at the grading apex drives prices disproportionately above the base levels.
Should I get my 1987 Canadian 50 cents professionally graded?
For most examples, no — grading fees at ICCS, PCGS, or NGC typically far exceed the $3–$7 base value of a typical MS65 or PF67 example. Professional grading makes economic sense only if you are confident your coin is a strong MS67+ business strike or a PF69/SP69-level candidate in terms of eye appeal and surface quality. The Royal Canadian Mint's guide to coin grading is a useful starting framework for self-assessment before committing to a professional submission fee.
What is a Heavy Cameo designation, and does it add value to my 1987 PL coin?
"Heavy Cameo" is the ICCS designation for intense, thick white frosting on the raised devices (Queen's portrait and Coat of Arms) contrasting sharply against mirror-like fields — functionally equivalent to PCGS "Deep Cameo" (DCAM) and NGC "Ultra Cameo." On Proof-Like coins, this dramatic contrast appears only on early strikes from freshly prepared dies and fades as the die surface wears through the production run. For the 1987 Proof-Like, a confirmed Heavy Cameo designation can add approximately 20–30% above standard PL prices — but only when formally noted on the encapsulation label by a recognized grading service. It cannot be reliably self-assessed without professional tools.
What is PVC damage, and how do I protect my coins from it?
PVC (polyvinyl chloride) damage occurs when flexible plastic coin flips from the 1980s degrade and outgas hydrochloric acid, depositing a sticky, sickly green residue on coin surfaces. If you see this on your 1987 half dollar, have it conserved professionally with pure acetone — never use nail polish remover or other household solvents. For long-term storage, use inert archival-grade Mylar flips or hard acrylic capsules. Original RCM packaging — pliofilm packs, booklets, or Prestige Set hard capsules — remains the safest storage environment for preserving a coin's numismatic value.
How do ICCS grades compare to PCGS and NGC grades for this coin?
ICCS (the International Coin Certification Service) is the domestic Canadian grading standard and is regarded as conservative for modern base-metal issues. A coin graded MS65 by ICCS is considered highly premium and will frequently achieve a higher grade (e.g., MS66) when re-submitted to PCGS or NGC. Experienced Canadian collectors therefore typically discount PCGS/NGC grades by approximately one point when comparing against ICCS-benchmarked prices in domestic auction environments. For cameo designations, the terminology maps as follows: ICCS "Heavy Cameo" = PCGS "Deep Cameo (DCAM)" = NGC "Ultra Cameo" — all three describe the same high-contrast frosting effect.
Methodology & Sources
Values in this guide are sourced from the NGC World Coin Price Guide (KM 75.3), domestic dealer market data from Calgary Coin, and the Numista international catalog for specification verification. Trophy-grade auction data references the PCGS Auction Prices archive (SP69 record). Official specifications and mint history are drawn from the Royal Canadian Mint. Finish identification standards reference the Colonial Acres guide to Canadian coin finishes. Grading guidance draws from the RCM's coin grading guide. All prices are in Canadian dollars (CAD) as of February 2026 and represent typical retail values for problem-free, unaltered examples. Market prices fluctuate; verify current values before buying or selling.
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.