1993 Canadian 5-Cent (Nickel) Value Guide

The 1993 Canadian 5-cent coin marks a quiet but meaningful milestone in the Beaver nickel series: it was the year the Royal Canadian Mint permanently switched the reverse rim from traditional denticles (tooth-like projections) to beads (round dots), a design change intended to extend die life and improve striking consistency. The coin belongs to the Third Portrait era (1990–2003), featuring Dora de Pédery-Hunt's Diademed Head of Queen Elizabeth II — the first Canadian-designed royal effigy. Four distinct manufacturing finishes were produced: circulation Business Strike, Proof-Like (PL), Specimen (SP), and Proof (PR), with the Specimen issue carrying the year's lowest mintage at 77,351. For the complete Beaver nickel series, see our Canadian Nickel Value Guide.

Note: Errors such as off-center strikes and wrong-planchet coins exist for 1993 but are outside the scope of this standard value guide.

1993 Canadian Nickel Composition & Melt Value

The 1993 5-cent coin is a homogeneous, solid Cupro-Nickel alloy — 75% copper and 25% nickel — with no layered plating or precious metal content. Unlike the multi-ply plated-steel coins introduced after 2000 (which show distinct layers on the edge), the 1993 nickel is solid Cupro-Nickel throughout and displays a uniform edge colour and texture. This hard-wearing alloy replaced the magnetic pure nickel compositions used before 1982 and remained the standard for the 5-cent denomination through the late 1990s.

Melt Value & Intrinsic Worth

The 1993 nickel contains approximately 3.45 grams of copper and 1.15 grams of nickel. The aggregate scrap value of these base metals hovers near or slightly above face value in early 2026, far below any numismatic premium. No 1993 5-cent coin carries precious metal content of any kind.

Magnetic Authentication Test

The 1993 nickel is non-magnetic. This is the fastest single authentication check available and the most useful tool for separating 1993 coins from related denominations:

• Non-magnetic (passes): Genuine Cupro-Nickel composition. This separates 1993 coins from both pre-1982 Pure Nickel coins (which are magnetic) and post-2000 plated-steel coins (also magnetic).
• Magnetic (fails): The coin is either a counterfeit struck on a steel planchet or an out-of-scope wrong-planchet anomaly.

The weight test provides secondary confirmation: a genuine 1993 nickel weighs 4.60 grams, notably heavier than the later plated-steel nickel (3.95 grams). A simple kitchen scale accurate to 0.1 g is sufficient. Note that the Currency Act of Canada prohibits melting coins of the realm — intrinsic metal value is presented here for authentication context only.

Magnet test demonstration: a 1993 Canadian nickel (Cupro-Nickel) shows no attraction to a standard magnet. This distinguishes it from both the magnetic pre-1982 pure nickel coins and the magnetic plated-steel coins introduced after 2000.

1993 Canadian Nickel Value Chart by Grade & Finish

The 1993 5-cent coin is a condition-rarity issue. In circulated grades, examples are worth face value. The numismatic market effectively begins at MS60, with a sharp value cliff at MS65 — below that threshold coins trade in bulk; above it they are sold individually as numismatic specimens. All four manufacturing finishes are covered below. All values in CAD as of February 2026.

1993 Canadian 5¢ — Business Strike (Circulation)

With 86,877,000 struck for commerce, circulated examples are among the most common Canadian coins of their era. The Cupro-Nickel alloy is hard and unforgiving — bulk-bin handling during production causes immediate surface chatter — meaning a mark-free example in MS66 or MS67 is a genuine condition rarity actively pursued by Registry Set collectors.

Grade comparison: a heavily circulated 1993 Canadian nickel (left, worn Beaver detail and rim) versus a Gem Uncirculated example (right, full cartwheel luster with no handling marks on the fields). (Illustration — not a photo of your exact coin)

1993 Canadian 5¢ — Collector Finishes (PL, SP & Proof)

These coins were struck specifically for collectors and sold in sealed RCM packaging. They are never found in circulation unless broken from their sets — at which point handling often impairs them. Each finish has a distinctive visual character: see the Identification Guide to determine which you have.

Values in CAD represent typical retail asking prices as of February 2026. For the complete denomination price guide, see our Canadian Nickel Value Guide. Price data cross-referenced with the NGC World Coin Price Guide — Canada 5 Cents KM 182.

Most Valuable 1993 Canadian Nickel Varieties

The 1993 Canadian 5-cent coin has no confirmed die varieties catalogued in the Charlton Standard Catalogue or Coins and Canada — no doubled dies, no Large/Small Beads split, no known date numeral variants. Value for this issue is driven almost entirely by two factors: grade (condition rarity) and finish type (the four manufacturing tiers). Collectors focus their efforts on either hunting top-of-population certified examples or identifying superior collector finishes that may have been broken out of sets.

A. Trophy-Level Examples (Condition Rarity)

For the 1993 issue, rarity is almost entirely a function of preservation. The hard Cupro-Nickel alloy and bulk-bin production methods mean that a mark-free coin is a statistical anomaly. Advanced collectors compete in Registry Sets for the finest known examples, which drives prices for MS66 and MS67 examples significantly above their catalogue counterparts.

B. The Beaded Rim: A Design Milestone (Not a Split Variety)

Research confirms that 1993 was the pivotal year the RCM permanently switched the 5-cent reverse rim from denticles (elongated tooth-like projections) to beads (small round dots). This change was made to improve die longevity and striking consistency. Critically, this is a design milestone, not a collectible split variety: all standard 1993 nickels feature beads. There is no confirmed 1993 Denticle variety in any standard Canadian catalogue. If a 1993-dated nickel were found with denticles, it would be a major mule discovery — but as of February 2026, no such collectible variety exists.

Close-up of the 1993 Canadian nickel reverse rim showing the beaded design — small round dots along the inner edge. All standard 1993 nickels feature beads; there is no confirmed denticle variety for this year. The transition from denticles to beads in 1993 is a design milestone, not a split variety.

C. Findable Collector Variants (The Finish Hunt)

The practical hunt for premium 1993 nickels involves identifying superior collector finishes that may have been broken out of sets and placed in dealer junk bins or spent into circulation. The Specimen finish, with a mintage of only 77,351, is the lowest-production standard issue of the year and the most rewarding find.

Note: The 1993 Specimen Set mintage figure of 77,351 is confirmed by dealer listings including Coins Unlimited and Colonial Acres Coins.

1993 Canadian Nickel Identification Guide

Use this checklist to identify exactly what you have in under 60 seconds. Tools needed: bright desk lamp (single point source), optional kitchen magnet, optional scale accurate to 0.1 g.

1993 Canadian 5-cent coin: obverse showing Queen Elizabeth II Diademed Head (Third Portrait by Dora de Pédery-Hunt) facing right, wearing a diamond diadem and necklace; reverse showing the Beaver on Rock (G.E. Kruger-Gray) with the date 1993 below. Small round beads are visible along the inner reverse rim.

30-Second Identification Checklist

1. Monarch Check: The obverse shows Queen Elizabeth II facing right, wearing a diamond diadem and necklace. This is the Third Portrait (Diademed Head) designed by Canadian sculptor Dora de Pédery-Hunt, introduced in 1990 and used through 2003. The legend reads ELIZABETH II D GRATIA REGINA CANADA. A different portrait style indicates a different year.
2. Reverse Check: The reverse features a Beaver on a Rock, the enduring 5-cent design by G.E. Kruger-Gray. The date 1993 appears on the reverse below the Beaver, flanked by the denomination 5 CENTS.
3. Rim Check: Examine the reverse rim under magnification or a loupe. You should see small round dots (beads), not elongated teeth (denticles). All standard 1993 nickels carry the beaded rim; there is no confirmed denticle variety for this year.
4. Magnet Test (Composition Verification): Apply a magnet to the coin. It should NOT attract. The 1993 nickel is non-magnetic Cupro-Nickel. A magnetic response indicates either a counterfeit struck on a steel planchet or a wrong-planchet anomaly — do not pay a collector premium for a magnetic 1993 nickel.
5. Weight Check (Optional): A genuine 1993 nickel weighs 4.60 grams (tolerance ±0.15 g). This is measurably heavier than the later plated-steel nickel (3.95 g), providing secondary authentication.
6. Mint Mark Check: Standard 1993 Canadian nickels carry no mint mark, regardless of whether they were struck in Ottawa or Winnipeg. There is no documented W mint mark variety for this year on any finish.
7. Finish Identification — The Critical Step: This single step determines collector value. See the Lustre Test below.

Finish Identification: The Lustre Test

Hold the coin under a single bright desk lamp and tilt it slowly. The way light interacts with the surface tells you the finish type.

Four-way comparison of 1993 Canadian nickel finishes: (1) Business Strike — cartwheel luster with flowing light bands; (2) Proof-Like — brilliant mirror fields; (3) Specimen — fine parallel striations in the field (lined matte); (4) Proof — deep dark mirror fields with frosted white Beaver (cameo contrast). (Illustration — not a photo of your exact coin)

1. Business Strike (Circulation): As you tilt the coin, light flows in sweeping bands across the surface — the classic "cartwheel luster" of freshly struck coin metal. The surface is shiny but has a satiny texture with small flow lines. Random scratches (bag marks) on the Beaver's back or Queen's cheek are normal for this finish. Value: Face value to $0.75 raw; Gem grades command more.
2. Proof-Like (PL): The background fields are highly reflective — like a mirror or still water. Both the devices (Beaver, Queen's portrait) and the fields are brilliant; there is no frosting or matte texture on the Queen's face. This coin almost certainly came from a pliofilm Uncirculated Mint Set. A shiny 1993 nickel found loose is more likely a PL than a rare high-grade Business Strike. Value: ~$1.00+.
3. Specimen (SP): Under a loupe or bright raking light, the background shows fine parallel lines (striations) running across the field — a distinct lined matte or semi-matte texture unique to this era of RCM production. The Beaver and Queen's portrait appear brilliant and crisp against this textured background. The rim is sharper and more squared-off than a circulation coin. This coin came from a blue wallet Specimen Set. Value: ~$2.00+.
4. Proof (PR): Maximum contrast. The background is a deep, dark mirror that appears almost black at certain angles. The Beaver and Queen's portrait are bright, heavily frosted — like white plaster against black glass. This is impossible to replicate by polishing a circulation coin. This coin came from a Prestige Proof Set. Value: ~$8.00+.

Close-up of the 1993 Canadian nickel Specimen (SP) finish under magnification, showing the characteristic fine parallel striations across the field behind the Beaver. This lined matte texture is the definitive diagnostic that distinguishes a Specimen coin from the brilliant mirror fields of a Proof-Like coin. (Illustration — not a photo of your exact coin)

1993 Canadian Nickel Value FAQs

Methodology & Sources

Values represent typical retail asking prices in Canadian Dollars (CAD) as of February 2026, compiled from the sources below. Retail asking prices are typically 30–50% above dealer buy prices. Market values are subject to change with collector demand.

• NGC World Coin Price Guide — Canada 5 Cents KM 182 (1990–2003): Values and series identification.
• Charlton Standard Catalogue of Canadian Coins (74th Edition, 2024/2025): Primary reference for variety listings and base valuations.
• Numista — 5 Cents Elizabeth II, 3rd Portrait: Technical specifications and mintage cross-reference.
• Royal Canadian Mint — 5 Cents Denomination: Composition and design history.
• Royal Canadian Mint — What's in a Finish?: Official finish definitions (Specimen, Proof-Like, Proof).
• Calgary Coin Gallery — Modern Canadian 5 Cents: Collector finish pricing context.
• Coins Unlimited — 1993 Canadian Specimen Set: Specimen set mintage and packaging confirmation.
• Colonial Acres Coins — 1993 Canada Specimen 6-Coin Set: Supplementary Specimen set reference.

ICCS and PCGS/NGC population reports were consulted for context on high-grade scarcity; population totals are not reproduced here. High-grade Business Strike values (MS66/MS67) are based on dealer asking prices and market trend data from 2024–2025.