1993 Canadian One-Dollar (Loonie) Value Guide
Find out what your 1993 Canadian Loonie is worth. Complete price guide by grade and finish — Business Strike, Proof-Like, Specimen, and base-metal Proof — with current CAD market values as of February 2026.
Most 1993 Canadian Loonies are worth exactly $1.00 CAD (face value) in any circulated grade. Uncirculated business strikes range from $1.50 (MS60) to $25.00 (MS65), with trophy-grade certified examples reaching $40–$90 at MS66 and $150+ at MS67.
- Circulated (G4–AU50):$1.00 — face value only; spend it
- Uncirculated (MS60):$1.50
- Choice Uncirculated (MS63):$3.00
- Gem Uncirculated (MS65):$25.00
- Proof-Like (PL65):$6.00
- Specimen (SP65):$8.00
- Proof — Base Metal (PF65 / PF67):$9.00 / $15.00
Found a shiny one? A mirror-field 1993 Loonie almost certainly came from an uncirculated Proof-Like set — not a rare high-grade business strike. Collector premium is low unless professionally certified PL65 or better. Is it silver? No. The standard 1993 Loonie is bronze-plated nickel with zero precious metal content. Do not confuse it with the round, reeded 1993 Stanley Cup Commemorative Silver Dollar — a completely different coin. All values in Canadian Dollars (CAD) as of February 2026. See full value chart →
The 1993 Canadian one-dollar coin — universally known as the Loonie — represents a stable, mature production year for the denomination introduced in 1987. By 1993, the eleven-sided aureate bronze-plated nickel coin had fully replaced the one-dollar paper banknote in Canadian commerce. The obverse carries the Dora de Pédery-Hunt portrait of Queen Elizabeth II — historically significant as the first portrait of a British monarch on Canadian coinage designed by a Canadian citizen — while the reverse bears Robert-Ralph Carmichael's iconic Common Loon design. Four distinct finishes were produced: a Winnipeg Business Strike for circulation and three collector-quality issues (Proof-Like, Specimen, and Proof) from the Ottawa facility. For price history across all Loonie issues, see our Canadian Loonie Value Guide.
Note: Errors such as off-center strikes exist for the broader Loonie series but are outside the scope of this standard value guide.
1993 Canadian Loonie — obverse (left) featuring the Dora de Pédery-Hunt diademed portrait of Queen Elizabeth II and reverse (right) with Robert-Ralph Carmichael's Common Loon; artist initials RRC appear beneath the loon's beak.
1993 Canadian Loonie Composition & Melt Value
The 1993 Loonie is a composite coin built around a dense 91.5% pure nickel core, fully encapsulated by a thin electroplated layer of aureate bronze accounting for the remaining 8.5% of total mass. The Royal Canadian Mint's proprietary term aureate denotes this golden-hued alloy, deliberately engineered to evoke the warmth of gold without containing any precious metals. As the coin circulates, friction progressively wears away the highest-relief points of the bronze plating — most visibly the Queen's cheekbone on the obverse and the loon's breast and wing-tips on the reverse — eventually exposing the silvery nickel core beneath.
The 1993 Loonie contains absolutely no precious metal content — zero gold, zero silver, zero platinum. As of February 2026, the intrinsic melt value of a 1993 Loonie calculates to less than $0.08 CAD. This figure is so negligible it has no bearing on market pricing. The coin's $1.00 CAD legal tender value is floor-protected by its face value; numismatic premiums derive exclusively from grade and collector demand.
The high nickel content makes the 1993 Loonie strongly magnetic — a household magnet will attract it powerfully. This ferromagnetic property was engineered specifically to allow automated vending machines and transit fare systems to authenticate the coin and reject non-matching slugs. See the Identification section for how to use this as an authentication tool.
⚠️ Do Not Confuse the 1993 Loonie with the 1993 Stanley Cup Commemorative Silver Dollar
In 1993, the Royal Canadian Mint also released the 100th Anniversary of the Stanley Cup Commemorative Dollar — an entirely separate Non-Circulating Legal Tender (NCLT) coin. The Stanley Cup dollar is perfectly round, approximately 36.07 mm in diameter, features a reeded (corrugated) edge, and is struck in 25.175 grams of .925 Sterling Silver. It is non-magnetic. The standard 1993 Loonie is 11-sided, 26.50 mm in diameter, plain-edged, bronze-plated nickel, and strongly magnetic. These are two completely different products with entirely different valuations. Royal Canadian Mint specifications definitively confirm that the Proof Loonie within the 1993 Double Dollar set is aureate bronze-plated nickel — only the accompanying Stanley Cup dollar in that set is silver.
Left: Standard 1993 Loonie (11-sided, 26.50 mm, bronze-plated nickel, plain edge, strongly magnetic). Right: 1993 Stanley Cup Commemorative Silver Dollar (round, 36.07 mm, .925 sterling silver, reeded edge, non-magnetic). These are entirely distinct coins. (Illustration — not photos of your exact coins)
1993 Canadian Loonie Value Chart by Grade & Finish
Value is determined overwhelmingly by finish type and grade. Four distinct finishes were produced in 1993, each with its own pricing curve. Any example exhibiting circulation wear — from G4 through AU50 — is worth exactly $1.00 CAD face value. Numismatic premiums begin only at Mint State (MS60) and above.
1993 Canadian Loonie — Business Strike (Circulation, Winnipeg)
| Type | Mintage | G4 | VG8 | F12 | VF20 | EF40 | AU50 | MS60 | MS63 | MS65 | Notes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1993 Common Loon (Business Strike) | 33,662,000 | FV | FV | FV | FV | FV | FV | $1.50 | $3.00 | $25.00 | MS66: ~$40–$90 (certified only); MS67: $150+ (certified only, trophy-grade). FV = $1.00 CAD. Heavy 7.00 g planchets cause severe bag marks; true MS65 is genuinely scarce. |
FV = Face Value ($1.00 CAD). Prices per NGC World Coin Price Guide and Coins and Canada (February 2026). Trophy-grade MS66/MS67 prices are detailed in the Notable Varieties section. Raw uncertified coins will not reliably command MS66+ premiums.
ℹ️ The Bag Mark Problem — Why MS65 Is Genuinely Scarce
The 1993 Loonie's 7.00-gram mass makes it a heavy projectile in the Winnipeg mint's steel transit hoppers. Freshly struck coins collide at kinetic force, creating the deep gouges known as bag marks — most destructively on the open fields behind the Queen's portrait and on the loon's smooth body. A typical MS60 example will be heavily peppered with these marks. A true MS65 example — with virtually unmarked surfaces and blazing original cartwheel luster — represents a statistical anomaly from this production process, which is why it commands a meaningful premium over MS63 despite the enormous circulation mintage.
MS63 (left) vs MS65 (right) business strike: note the scattered bag marks on the MS63 example's open fields and the Queen's cheek, versus the near-pristine surfaces and brilliant luster required for Gem grade. (Illustration — not photos of your exact coins)
1993 Canadian Loonie — Collector Finishes (Ottawa Mint)
Three collector-quality finishes were struck at the Ottawa facility at lower speeds, handled by gloved technicians, and immediately encapsulated in protective packaging. Because survival in high grades is far more common by design, a collector-finish coin grading 65 is widely available and valued considerably lower than a business strike MS65.
| Finish | Mintage | Grade 63 | Grade 65 | Grade 67 | Cameo / Contrast Note | Original Packaging |
|---|---|---|---|---|---|---|
| Proof-Like (PL) | 171,680 | $3.00PL63 | $6.00PL65 | — | Highly reflective mirror fields; devices are brilliant but lack the deep frost of SP or PF strikes. | Flat pliofilm (cellophane) uncirculated sets. View dealer example |
| Specimen (SP) | 77,351 | $4.00SP63 | $8.00SP65 | — | Exceptionally sharp, high-pressure strike; fine brilliant fields with lightly frosted raised devices. Cameo (CAM) contrast is typical for this era. | Rigid presentation cases. View set at Colonial Acres |
| Proof — Base Metal (PF) | 143,065 | $5.00PF63 | $9.00PF65 | $15.00PF67 | Deep liquid mirror fields with heavily frosted devices — Heavy Cameo (HC) standard. Struck twice on specially polished and sandblasted blanks for maximum detail and contrast. | Annual Double Dollar and standard Proof sets. View dealer example |
Important: The Proof Loonie in the 1993 Double Dollar set is aureate bronze-plated nickel — not silver. The silver coin in that set is the separately issued Stanley Cup Commemorative Dollar. Values CAD per Coins and Canada and CoinsUnlimited (February 2026). For the full denomination price history across all years, see our Canadian Loonie Value Guide.
⚠️ PVC Damage Risk — Original Pliofilm Sets
Proof-Like coins stored in original 1993 pliofilm (cellophane) packaging may develop a green, sticky PVC residue over decades as the plasticizer in the plastic degrades. If you see a green slick film on your PL coin, it requires professional conservation with pure acetone — do not use nail polish remover or abrasive cleaners. Damaged coins lose all numismatic premium and revert to face value regardless of the underlying strike quality.
Most Valuable 1993 Canadian Loonie Varieties
A comprehensive review of the Charlton Standard Catalogue of Canadian Coins and specialized Canadian variety literature confirms a critical fact: there are no major recognized, Charlton-catalogued die varieties for the 1993 Loonie. No repunched dates, no missing design elements, no prominent doubled dies (DDO/DDR), and no double-punched lettering command a separate premium for this production year. The exceptional quality control maintained by the Royal Canadian Mint in 1993 effectively eliminated the dramatic die variations that characterized earlier Canadian numismatics. Value for the 1993 Loonie is driven entirely by condition rarity and finish type.
A) Trophy-Level Condition Rarity
The absolute ceiling of 1993 Loonie valuations is held by business strikes that miraculously escaped severe bag-mark damage during the Winnipeg minting process. These examples are fervently sought by registry set collectors — individuals competing on platforms such as the PCGS Set Registry and the NGC Set Registry to register the finest certified examples of Canadian coins in existence. Trophy prices are inherently illiquid and highly volatile; a coin graded MS66 by ICCS may yield a different auction realization than one graded MS66 by PCGS due to differing market preferences and registry demand from domestic Canadian collectors versus international set builders.
| What | Why It Commands a Premium | Certification Requirement | Documented Value Range |
|---|---|---|---|
| Business Strike MS66 | Virtually flawless fields and an undisturbed Queen's cheek — statistically rare when heavy 7.00 g planchets are hopper-bagged at mass-production speeds. | Must be encapsulated MS66 by ICCS, PCGS, or NGC. Raw, uncertified coins will not reliably command this premium. | ~$40–$90 CAD (highly variable by grading firm, holder generation, and eye appeal) |
| Business Strike MS67 | Extreme condition rarity. A flawless strike from fresh dies that survived the industrial bagging process without a single distracting contact mark. Population is microscopic. | Must be encapsulated MS67 by PCGS, NGC, or ICCS. | $150+ CAD (driven entirely by registry set competition; population is vanishingly small) |
| Specimen SP68 / SP69 | While Specimen coins are inherently pristine by design, achieving grade 68 or 69 on the 70-point scale demands a near-perfect strike that satisfies the most exacting graders at peak-condition standards. | Must be encapsulated SP68 or SP69 by PCGS, NGC, or ICCS. | ~$30–$60 CAD |
Close-up of 1993 Loonie obverse fields: left coin shows typical MS60–MS63 bag mark damage on the open field behind the Queen's portrait and on the cheek; right coin approaches the near-pristine surface required for MS66 certification. (Illustration — not photos of your exact coins)
B) Finish Variants — The Only Practical Split Points
Because no catalogued die varieties exist, the only meaningful variance a roll hunter or estate-sale buyer will encounter is a collector-finish coin that has been removed from its original packaging and spent in commerce. Identifying a genuine SP or PF coin in pocket change — recognizable by its mirror-field or Heavy Cameo appearance — represents a genuine find, as the collector premium (while modest) is permanently destroyed once the coin is abraded by circulation contact.
| Variant | Charlton # | How to Identify at a Glance | Premium Impact |
|---|---|---|---|
| Circulation / Business Strike | N/A | Standard cartwheel luster; contact marks typical; uniform frosty fields across the entire coin. | None in circulated grades (Face Value). Small premium at MS60 and above. |
| Proof-Like (PL) | N/A | Highly reflective, mirror-like flat background fields; devices brilliant but not frosted. | Low ($3–$6 in high grade); premium is destroyed if the coin is impaired or circulated. |
| Specimen (SP) | N/A | Very sharp, high-definition strike; fine brilliant field texture; lightly frosted raised devices. | Low ($4–$8 in high grade); premium is destroyed if scratched or mishandled. |
| Proof (PF) — Base Metal | N/A | Deep, liquid-dark mirror fields contrasting sharply with heavily frosted (Heavy Cameo) Queen and Loon. | Low–moderate ($5–$15 in high grade); completely lost if any friction is present. |
Note: Major mint errors can be very valuable, but they are outside the scope of this standard value guide.
1993 Canadian Loonie Identification Guide
Properly identifying a 1993 Loonie — and determining whether it is a circulation issue or an extracted collector-set coin — requires a methodical sequential check. Follow this 30-second checklist:
30-Second Identification Checklist
Date & Denomination Check: Confirm the coin reads 1993 centered below the loon, with CANADA curving along the upper periphery and DOLLAR at the lower periphery.
Obverse Portrait Check: Confirm the portrait depicts Queen Elizabeth II wearing the George IV State Diadem (a crown), accompanied by a necklace and earrings, surrounded by the legend ELIZABETH II D.G. REGINA. This is the Third Portrait by Dora de Pédery-Hunt, used on Canadian coinage from 1990 to 2003 and historically significant as the first royal portrait on Canadian coinage designed by a Canadian citizen.
Reverse Design Check: Confirm the iconic solitary Common Loon swimming on a stylized rippled lake, with a small coniferous island in the background. The artist's initials RRC (Robert-Ralph Carmichael) appear discreetly beneath the loon's beak, just above the waterline on the right side of the composition.
Edge & Shape Check — Critical Disambiguation: The genuine 1993 Loonie has a completely plain, smooth edge forming exactly 11 flat sides (a hendecagon). If the coin in your hand is perfectly round with a corrugated, reeded edge and measures significantly larger (approximately 36 mm across), it is the 1993 Stanley Cup Commemorative Silver Dollar — a completely different coin struck in sterling silver. Do not confuse them.
Magnet Test (Composition Verification): Apply a household magnet to the coin's surface. The 1993 Loonie's 91.5% pure nickel core makes it strongly magnetic — it will adhere powerfully. A non-magnetic response would indicate a different coin, such as the sterling silver Stanley Cup commemorative (elemental silver is non-magnetic). Always confirm authentication with a precise weight check: the 1993 Loonie must weigh exactly 7.00 grams.
No Mint Marks: No mint marks appear on any 1993 Loonie issue — not on the Winnipeg business strikes, and not on the Ottawa collector finishes. Do not search for a mint mark; identification of strike origin relies entirely on the visual finish characteristics described below.
Finish Identification — The Critical Step: Tilt the coin slowly under a single direct light source (an incandescent bulb or halogen lamp works best).
- Business Strike: Classic cartwheel luster — a distinct rotating windmill pattern of reflected light radiates across the fields as the coin is tilted. Contact marks and bag marks are almost invariably present.
- Proof-Like (PL): Highly reflective, mirror-like flat background fields. Both fields and devices appear brilliant, with little to no opaque frosting on the raised Queen or Loon.
- Specimen (SP): Exceptionally sharp, high-definition strike. Fields display a fine, uniform brilliance — sometimes revealing micro-fine parallel lines under magnification. Raised devices show a light, even frosting. The overall visual effect is a crisp clarity distinct from either the business strike or PL.
- Proof (PF): Deep, dark liquid-mirror background fields reflecting light like still water, contrasting sharply with heavily frosted, chalky-white raised devices — the Heavy Cameo (HC) effect generated by sandblasting the dies before striking. Struck twice on specially polished blanks for maximum detail.
ℹ️ PL Set Contamination — The Shiny Coin Problem
With 171,680 Proof-Like sets produced in 1993, many have been broken open over the decades and the coins spent in circulation. A "shiny" 1993 Loonie found loose in change is almost certainly a PL coin — not a rare high-grade business strike. Dealers routinely discount raw "Uncirculated" Loonies from this era, assuming PL origin. Only a coin certified by ICCS, PCGS, or NGC in its original holder can definitively confirm the finish type and command a reliable premium above the certified business-strike scale.
⚠️ Never Clean Your Coins
Attempting to restore the original golden aureate sheen with chemical dips, metal polishes (such as Brasso), or abrasive rubbing permanently destroys the coin's microscopic flow lines, leaving unmistakable hairline scratches visible under magnification. A cleaned 1993 Loonie receives a "Details — Cleaned" designation from any grading service, completely eliminating its numismatic premium and reducing it to $1.00 face value regardless of underlying surface quality. Watch for artificially brightened Proof or Specimen coins being misrepresented as high-grade business strikes — a known deception in the modern coin market.
Four-way finish comparison for the 1993 Canadian Loonie: Business Strike (rotating cartwheel luster, far left), Proof-Like (mirror fields, second), Specimen (sharp brilliant fields with light device frosting, third), Proof (deep liquid mirror fields with Heavy Cameo frosted devices, far right). (Illustration — not photos of your exact coins)
Magnet test for the 1993 Loonie: the 91.5% pure nickel core causes powerful magnetic attraction. This distinguishes the Loonie (strongly magnetic) from the 1993 Stanley Cup Commemorative Silver Dollar (non-magnetic, as elemental silver is diamagnetic).
1993 Canadian Loonie Value FAQs
What is a 1993 Canadian Loonie worth?
In any circulated grade (G4 through AU50), a 1993 Canadian Loonie is worth exactly $1.00 CAD — its face value. With 33,662,000 produced for commerce, circulated examples carry no numismatic premium whatsoever. Uncirculated premiums begin at MS60 ($1.50), reach $3.00 at MS63, and climb to $25.00 at Gem MS65. Collector-finish coins (PL, SP, Proof) extracted from original sets trade for $3–$15 depending on finish type and certified grade.
Is the 1993 Canadian Loonie silver?
No. The standard 1993 Loonie is bronze-plated nickel with absolutely no precious metal content — no gold, no silver, no platinum. Its intrinsic melt value is less than $0.08 CAD. Do not confuse it with the 1993 Stanley Cup 100th Anniversary Commemorative Dollar, which is struck in 25.175 grams of .925 Sterling Silver and is a completely separate, larger, perfectly round coin with a reeded edge. The Proof Loonie within the 1993 Double Dollar set is also base-metal bronze-plated nickel — only the accompanying Stanley Cup dollar in that set is silver.
What makes a 1993 Loonie valuable?
For business strikes, value is driven almost entirely by condition grade. The heavy 7.00-gram planchet generates severe bag marks during mass production, making truly pristine MS65+ examples genuinely scarce despite the large mintage. MS65 is worth $25.00; a certified MS66 can reach $40–$90; MS67 commands $150+ and is reserved for microscopic-population registry-quality coins. For collector finishes (PL, SP, Proof), the value ceiling is much lower because high-grade survival is common by design — a PF67 Proof trades for only $15.00.
How do I know if my 1993 Loonie is a Proof-Like (PL) coin?
Tilt the coin under a single direct light source. A Proof-Like coin displays highly reflective, mirror-like background fields — distinctly different from the rotating cartwheel luster of a business strike. PL coins were issued in flat pliofilm (cellophane) uncirculated sets by the Royal Canadian Mint. With 171,680 of these sets produced, many have been broken open. A loose, shiny 1993 Loonie is almost certainly a PL coin extracted from a set, not a rare high-grade business strike. Only ICCS, PCGS, or NGC certification can definitively confirm finish type.
What is the difference between Proof-Like (PL), Specimen (SP), and Proof (PF) finishes?
All three are collector finishes struck at the Ottawa facility, but they differ in appearance and production method. Proof-Like (PL) coins have reflective mirror fields but only limited frosting on the devices. Specimen (SP) coins are struck with higher pressure from specially prepared dies, producing an exceptionally sharp strike with lightly frosted devices on fine-brilliant fields — a satin-like clarity. Proof (PF) coins are struck twice on sandblasted, specially polished blanks, producing deep liquid-dark mirror fields that contrast dramatically with heavily frosted (Heavy Cameo) devices. The 1993 Proof is base-metal aureate bronze-plated nickel — not silver.
Should I get my 1993 Loonie graded?
Only if it is a business strike in exceptional condition. Professional grading by ICCS, PCGS, or NGC typically costs $20–$40 CAD per coin including shipping and insurance. At MS64 or below, the coin's market value does not justify the submission cost. Grading is only economically rational if examination under 10× magnification reveals absolutely zero distracting marks, hairlines, or blemishes in the prime focal areas — specifically the Queen's cheek, the open field behind her portrait, and the smooth body of the loon. A coin passing that standard might return MS65 ($25.00) or MS66 ($40–$90) and justify the investment.
What is the difference between ICCS and PCGS or NGC for Canadian coins?
ICCS (International Coin Certification Service), based in Toronto, is the traditional and widely respected standard for domestic Canadian collectors, known for strict technical grading. PCGS and NGC are US-based firms that dominate the global registry set market and use hard sonically sealed plastic slabs. Registry set auction records for modern Canadian coins — particularly MS66 and MS67 business strikes — are almost exclusively established by PCGS- or NGC-certified examples crossing major international auction floors such as Heritage Auctions and Stack's Bowers. ICCS is preferred by traditional Canadian collectors; PCGS/NGC by registry competitors and international buyers.
Is the 1993 Loonie rare?
In circulated condition, no — with 33,662,000 produced for commerce, it is among the most common modern Canadian coins. In Gem Uncirculated (MS65) condition and above, pristine examples are genuinely scarce because the heavy planchets sustain severe bag marks during industrial minting. Among the four finishes, the Specimen (SP, mintage 77,351) is the rarest issue. No catalogued die varieties exist for the 1993 date, meaning value is driven entirely by grade and finish rather than variety hunting.
Methodology & Sources
Values in this guide reflect Canadian Dollar (CAD) retail market prices as of February 2026, synthesized from the sources listed below. Prices represent typical raw or certified market values; exceptional examples at major auction may realize higher figures. This guide covers standard (non-error) issues only and is not an offer to buy or sell.
- Royal Canadian Mint — 1 Dollar (mint.ca) — Official composition, weight, dimensions, mintage, and effigy transition data.
- Coins and Canada (coinsandcanada.com) — Primary domestic retail pricing, grade-by-grade valuations, and historical mintage records.
- NGC World Coin Price Guide — Canada Dollar KM 235 — Secondary market value aggregation and comparisons.
- PCGS Canada Price Guide — Top-population registry metrics and conditional rarity thresholds.
- Numista — 1 Dollar, Elizabeth II (3rd portrait) — Specification cross-reference.
- Charlton Standard Catalogue of Canadian Coins — Definitive die-variety reference, confirming no major catalogued varieties for the 1993 issue.
- Heritage Auctions — Canadian Rare Coin Archive and Stack's Bowers Galleries — Auction records for high-grade trophy examples.
- Canadian Coin News (CCN) Trends — Domestic retail pricing trends and ICCS population references.
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.