1989 Canadian 25-Cent (Quarter) Value Guide

The 1989 Canadian quarter holds a distinctive place in the history of the Royal Canadian Mint: it is the final standard-issue quarter to bear Arnold Machin's effigy of Queen Elizabeth II, closing a twenty-five-year chapter of design that opened in 1965. In 1990, Dora de Pédery-Hunt's Diademed Portrait debuted — the first Canadian-designed royal effigy on circulation coinage, ending a connection to British-designed effigies that dated to Confederation. This terminal-year status makes the 1989 quarter essential for type collectors seeking a single premium specimen to represent the Machin era. For values across all eras of the Canadian quarter, visit our Canadian Quarter Value Guide.

Note: Mint errors, including rotated die examples, are known to exist for this year but are outside the scope of this standard value guide.

1989 Canadian Quarter Composition & Metal Properties

Pure Nickel — No Silver Content

The 1989 Canadian quarter is struck from 99.9% pure nickel, the standard composition for the denomination since August 1968 when silver was permanently removed from Canadian circulation coinage. Canada's quarter is a solid nickel coin throughout — distinct from the American quarter, which uses a copper-nickel clad construction with a copper core. The solid nickel composition gives the 1989 quarter its silver-grey appearance and makes it strongly magnetic.

A persistent misconception holds that 1989 proof-finish quarters might contain silver. This is incorrect. While the Royal Canadian Mint's 1989 Double Dollar Proof Set included a commemorative silver dollar (50% silver), the minor coins in that set — including the 25-cent piece — were struck in their standard base-metal compositions. The RCM did not begin issuing Silver Proof Sets where all denominations were struck in sterling silver until 1996. There are no documented sterling silver 25-cent issues for 1989 in standard catalogues (Charlton, Trends). Full specifications are confirmed in the Numista entry for the 1979–1989 Machin portrait quarter (KM 74).

Magnet Test: Composition Verification

A strong rare-earth magnet held against a 1989 Canadian quarter sticks firmly — confirming 99.9% pure nickel composition. A non-sticking coin warrants a weight test (5.05 g standard). (Illustration — not a photo of your exact coin)

The magnet test is the fastest field diagnostic for this coin and takes under three seconds:

• Coin sticks firmly to a strong magnet: Confirms standard 99.9% nickel composition — the expected behavior for every genuine 1989 quarter regardless of finish.
• Coin does not stick: A genuine 1989 quarter should not behave this way. Conduct a weight test (standard: 5.05 g) and examine the coin for a foreign planchet or non-standard origin.

This test also distinguishes 1989 quarters from pre-1968 silver quarters (non-magnetic) and from post-1999 plated-steel issues (also magnetic, but with a different physical response due to the thinner steel core). The Royal Canadian Mint's official 25-cent page provides additional composition context across the denomination's history.

Melt Value

The source materials for this guide do not provide a calculated spot-price melt value for the 1989 nickel quarter. For this composition, numismatic value in higher grades far exceeds any metal content consideration — the value of an MS-65 gem is driven entirely by condition, not by intrinsic metal.

1989 Canadian Quarter Value Chart by Grade & Finish

All four 1989 Canadian quarter finish types side by side: Business Strike (cartwheel luster, Winnipeg), Proof-Like (semi-mirror fields, Ottawa), Specimen (matte/lined fields, Ottawa), Proof (deep mirror fields with heavy frost, Ottawa). Identifying your coin's finish is the first step to finding its correct value. (Illustration — not a photo of your exact coin)

1989 Canadian Quarter — Business Strike (Circulation)

Struck at the Winnipeg facility with a mintage of 119,084,307, these coins were ejected into hoppers, bagged, and shipped across Canada by truck and rail. Nearly every example suffered bag-mark contact damage before reaching a consumer, making pristine survivors the central challenge for collectors of this date.

Grade comparison for 1989 Canadian quarter Business Strikes: left coin circulated (AU50, worn fields and caribou neck), center coin MS-63 (shiny with scattered bag marks), right coin MS-65 Gem (clean fields, full cartwheel luster). The jump from MS-63 ($3) to MS-65 ($46) is the key value cliff for this issue. (Illustration — not a photo of your exact coin)

1989 Canadian Quarter — Proof-Like (PL / NBU)

Proof-Like coins were included in the 1989 Uncirculated Set (red or blue cellophane/pliofilm packaging) with an approximate mintage of 217,600. Third-party grading services designate these as PL (PCGS) or NBU — Numismatic Brilliant Uncirculated (ICCS). Fields carry a semi-mirror finish from polished dies; relief is fully brilliant rather than frosted. These coins were struck at the Ottawa facility at slower speeds than circulation coins — they are a distinct product from the Winnipeg Business Strikes found in pocket change.

1989 Canadian Quarter — Specimen (SP)

Specimen coins were sold in rigid plastic cases inside leatherette booklets with an approximate mintage of 78,330 — the lowest production total of any 1989 quarter issue type. Fields have a matte or lined satin texture (not mirror-like); relief is brilliantly struck and sharper than Business Strikes due to double-striking at slower press speeds. Despite having the lowest mintage of all four issue types, SP values remain modest because most examples are still housed in their original protective cases in pristine condition. Prices below represent the comprehensive valuation table; note that Coins and Canada lists SP-66 at $1.45 and SP-67 at $14.70 under their catalogue standard — this pricing difference may reflect varying grading references between sources.

1989 Canadian Quarter — Proof (PR)

Proof quarters were included in the 1989 Double Dollar Proof Set (hard plastic capsules within velvet and leather presentation boxes) with an approximate mintage of 170,928. These are the most visually striking 1989 quarter format: deep black mirror fields contrasted with heavily frosted Queen and Caribou relief — a true Deep Cameo appearance. Despite their visual drama, they are not rare; most examples have been preserved in their original presentation packaging since issue. A PR-70 perfect example, if certified, would command a substantial premium above the values listed below. Coins and Canada lists PR-67 at $2.90 and PR-69 at $15.10 under their catalogue standard.

All values in CAD as of February 2026. Sources: Coins and Canada 25¢ 1965–1989 price guide; NGC Price Guide — Canada 25 Cents KM 74; Charlton Standard Catalogue. Individual coins may sell above or below these benchmarks based on eye appeal and market timing. For the complete denomination price guide, see our Canadian Quarter Value Guide.

Most Valuable 1989 Canadian Quarter Varieties

The 1989 Canadian quarter presents an unusual profile for variety collectors: the Charlton Standard Catalogue lists no major die varieties for this date. Unlike the 1973 quarter (Large Bust / Small Bust varieties) or the 1992 quarter (widely collected Rotated Die varieties), the 1989 issue is remarkably consistent in its die characteristics. There are no documented Doubled Dies, Repunched Dates, or Mule varieties recognized as standard collectibles for this year.

This does not reduce the coin's collecting interest — it means that finish type and condition grade are the primary value drivers, making the variety itself the grade.

The 1989 Specimen quarter (left) compared to a Business Strike (right): the SP's matte/lined fields and razor-sharp relief contrast visibly with the Business Strike's cartwheel luster. With only ~78,330 minted, the SP is the lowest-mintage 1989 quarter issue type — yet currently the most undervalued relative to its production numbers. (Illustration — not a photo of your exact coin)

The Four Collectible Finish Types as Collecting Distinctions

In place of die varieties, the four manufacturing finish types constitute the meaningful collecting distinctions for the 1989 quarter:

• Business Strike (Circulation) — The Trophy Coin: Mintage 119,084,307. Industrial handling creates extreme condition rarity in gem grades. An MS-66 Business Strike ($147.00) is the most valuable standard 1989 quarter — worth more than a PR-69 Proof precisely because its survival was accidental, not engineered.
• Proof-Like (NBU) — Common in High Grade, PVC Risk: Mintage approximately 217,600. Ottawa-struck coins preserved in cellophane sets. High grades are attainable but PVC contamination from original pliofilm packaging increasingly threatens surviving examples.
• Specimen (SP) — The Potential Sleeper: Mintage approximately 78,330 — the lowest production total of the four types. Currently values trade below or near Proof-Like levels at equivalent grades despite lower mintage. As collector appreciation for the distinctive Ottawa SP finish increases, this pricing gap may close.
• Proof (PR) — The Showpiece: Mintage approximately 170,928. The most visually dramatic but the most consistently preserved. Supply meets collector demand at modest premiums; genuine scarcity does not exist below PR-70.

Note: Mint errors for the 1989 quarter — including rotated die examples — are outside the scope of this standard value guide. For a broader perspective on Canadian quarter die varieties across all years, see the Saskatoon Coin Club's Canadian 25-Cent Coin Major Varieties reference.

1989 Canadian Quarter Identification Guide

Use the checklist below to confirm what you have before consulting the value tables. The most important step — often skipped — is finish identification in point 7, which determines which table applies to your coin.

1989 Canadian 25-cent coin: obverse (left) showing Arnold Machin's second portrait of Queen Elizabeth II wearing the Girls of Great Britain and Ireland Tiara, legend ELIZABETH II D·G·REGINA; reverse (right) showing Emanuel Hahn's Caribou design with CANADA arching above and 25 CENTS / 1989 below. The 1989 date on the reverse is the final year of the Machin portrait.

30-Second Identification Checklist

1. Monarch Check: The obverse shows a mature Queen Elizabeth II wearing a tiara — this is Arnold Machin's Second Portrait, used from 1965 to 1989 (with a minor modification to proportions in 1979). The legend reads ELIZABETH II D·G·REGINA. If the portrait shows the Queen wearing a more elaborate diamond diadem, you have a 1990 or later coin bearing Dora de Pédery-Hunt's Third Portrait.
2. Date Check: The date 1989 appears on the reverse, below the caribou and to the right of the denomination. This is the final year of the Machin effigy.
3. Reverse Check: The reverse shows a caribou head in left profile with large spreading antlers — designed by Emanuel Hahn (first introduced 1937). The legend reads CANADA above and 25 CENTS below the date. The antler detail is intricate; check for flatness (see grading notes below).
4. Edge Check: The edge is reeded (milled) — you should see and feel fine parallel ridges around the full circumference. A smooth edge is incorrect and warrants investigation.
5. Magnet Test (Composition Verification): Apply a strong magnet. A genuine 1989 quarter is 99.9% pure nickel and sticks firmly. All genuine 1989 quarters are strongly magnetic. A coin that does not respond requires a weight test (standard: 5.05 g) and examination for non-standard origin.
6. Mint Marks: There are no mint marks on 1989 Canadian quarters. No mark on either face is the standard. Circulation coins were struck in Winnipeg; collector coins (PL, SP, Proof) were struck in Ottawa — but neither facility placed a distinguishing mark on the coin itself for this year.
7. Finish Identification — The Critical Step:
   • Business Strike: Cartwheel luster — a rotating, satiny sheen when you tilt the coin under a single light source. Fields are smooth but show no mirror reflection. This is the coin from your pocket, from a bank roll, or from a bag of change.
   • Proof-Like (PL / NBU): Semi-mirror or clearly reflective fields — you can see a distorted reflection of your face in the flat areas. Relief is brilliant but not frosted. These coins came from red or blue cellophane/pliofilm Uncirculated Sets. With approximately 217,600 sets produced, many have been broken open; a "shiny" loose 1989 quarter is almost always PL, not a rare Business Strike gem.
   • Specimen (SP): Fields have a matte, lined, or fine-grained satin texture — they absorb light rather than reflect it. Relief is very sharp and brilliant from double-striking. Specimens came from rigid plastic cases inside leatherette booklets, not from cellophane envelopes.
   • Proof (PR): Deep black mirror fields contrasted with heavy white frost on the raised Queen and Caribou — a striking black-and-white Deep Cameo appearance. Proofs came exclusively from hard plastic capsules within velvet or leather presentation boxes of the Double Dollar Proof Set.

Critical grading zones on the 1989 Canadian quarter: obverse — Queen's cheek (primary mark zone) and eyebrow (first wear indicator); reverse — caribou neck fur (primary bag-mark target) and open field behind the neck. Clean surfaces across all four zones are prerequisites for MS-65 Gem status. (Illustration — not a photo of your exact coin)

Grading Key Surface Zones

Obverse — Arnold Machin Portrait:

• The Cheek: The Queen's cheek is the largest open field on the obverse. Any contact marks or grazing here are immediately visible and are the primary downgrade factor at the MS-64 to MS-65 boundary.
• The Eyebrow: Typically the first area to show rub — a subtle flatness or dulling. If the eyebrow is gray and flat, the coin grades About Uncirculated (AU), not Mint State. This is critical when evaluating coins that appear nearly new.
• Hair Details: The hair waves above the ear should be distinct. On pure nickel coins, these can appear weakly struck. Distinguish weak strike (unbroken luster in recesses) from wear (broken luster on high points) — the former affects eye appeal only; the latter destroys numismatic grade.

Reverse — Emanuel Hahn Caribou:

• The Neck: The caribou's neck carries a textured fur design and is the primary zone for bag marks from transport. A clean neck is a prerequisite for Gem (MS-65) status.
• The Fields: The open space behind the caribou's neck and above its nose is vast and susceptible to scratches and contact marks.
• The Antler Tips: Check for flatness. Flat but shiny = weak strike (not wear — does not reduce grade as severely). Flat and dull = wear (downgrades to circulated).

1989 Canadian Quarter Value FAQs

Methodology & Sources

Values in this guide reflect market prices as of February 2026, synthesized from established Canadian and international price references. Primary sources: Coins and Canada — 25¢ 1965–1989 price guide; NGC Price Guide — Canada 25 Cents KM 74 (1979–1989); NGC Price Guide — Canada 25 Cents KM 74 (alternate record); PCGS Population Report system; the Charlton Standard Catalogue of Canadian Coins; Numista — 25 Cents Elizabeth II 2nd Portrait Modified (KM 74); Calgary Coin Gallery — Canadian 25-Cent Coins; Saskatoon Coin Club — Canadian 25-Cent Major Varieties; Wikipedia — Quarter (Canadian coin); and the Royal Canadian Mint official 25-cent page. All values are in Canadian dollars (CAD) and represent typical transaction prices; individual coins may sell above or below these benchmarks based on eye appeal, originality, and market timing. This guide covers standard (non-error) coins only. Where the comprehensive valuation table and Coins and Canada catalogue figures differ (notably for SP and PR grades), both references are noted in the relevant tables.