2003 Canadian 25-Cent (Quarter) Value Guide
What is your 2003 Canadian quarter worth? Complete price guide covering Old Effigy, New Effigy, 'WP' Winnipeg mint mark, Silver Proof, and Coronation commemorative — all values in CAD, updated February 2026.
Most 2003 Canadian quarters in daily circulation are worth $0.25 (face value). The Silver Proof version carries a documented melt floor of approximately ~$8.56 CAD, and top certified gems can reach $300+.
- Circulated (Old Effigy or New Effigy): Face value — $0.25
- Uncirculated MS-65 (Gem) — Old Effigy:$20.00
- Uncirculated MS-65 (Gem) — New Effigy:$22.00
- MS-66 (Superb) — Old / New Effigy:$40–$45
- "WP" Winnipeg Mint Mark (PL):$3–$7
- Silver Proof — Caribou:$12–$18 (melt floor ~$8.56 CAD)
- Silver Proof — Coronation 1953-2003:$18–$25
- Canada Day Coloured:$10–$15
Found in change? Your plated-steel quarter sticks to a magnet and is worth face value unless it grades MS-65 or higher. Looks shiny or mirror-like? Check below the Queen's bust for a WP mark (Winnipeg Uncirculated Set — worth $3–$7) or apply a magnet: a non-magnetic mirror-finish coin is a Sterling Silver Proof worth $12+. Does it stick to a magnet? If no, it is .925 sterling silver — never spend it at face value. All values in CAD as of February 2026. See full value chart →
The 2003 Canadian quarter occupies a unique place in modern numismatics as a pivotal transitional year — the final year of Dora de Pédery-Hunt's Third Portrait (the crowned or "Diademed" effigy) and the very first year of Susanna Blunt's Fourth Portrait (the bare-headed effigy). Both effigies appear on legitimate 2003 circulation quarters, creating two distinct sub-types within a single date. The Royal Canadian Mint struck over 100 million steel-plated quarters in 2003 across its Ottawa and Winnipeg facilities, supplemented by Silver Proof, Specimen, Proof-Like, and coloured collector issues. For values across all Canadian quarter dates and series, see our Canadian Quarter Value Guide.
Note: Errors such as off-center strikes and wrong-planchet coins exist for 2003 quarters but are outside the scope of this standard value guide.
2003 Canadian Quarter Composition & Melt Value
2003 Canadian Quarter Composition & Melt Value
The 2003 quarter was produced in two entirely different metallic compositions depending on the product type. Correct identification of composition is the single most important step in determining a coin's intrinsic value.
A) Multi-Ply Plated Steel — Circulation, Proof-Like, and Specimen
The Royal Canadian Mint adopted its proprietary Multi-Ply Plated Steel (MPPS) technology for the quarter denomination to replace the pure nickel composition used in earlier decades. The steel core is approximately 94% of total mass, with alternating copper and nickel plating layers making up the remainder. This construction gives the coin its silver-white appearance and corrosion resistance while dramatically reducing production costs.
- Magnetic signature: YES — these coins will adhere strongly to any standard magnet due to the ferromagnetic steel core. This is the primary and fastest diagnostic test.
- Weight: 4.40 grams — noticeably lighter than the sterling silver proof (5.83 g).
- Melt value: Negligible. The combined intrinsic value of the steel, nickel, and copper content is a fraction of a cent. Value is entirely face value ($0.25) or numismatic (grade-based).
ℹ️ The Magnet Test — Primary Diagnostic for 2003 Quarters
Touch a magnet firmly to any 2003 Canadian quarter. Sticks = Multi-Ply Plated Steel (circulation, PL, or Specimen finish) — face value unless it grades MS-65 or higher. Does not stick = Sterling Silver (.925) — intrinsic value approximately ~$8.56 CAD at February 2026 spot prices, with collector premium on top. This single test separates a $0.25 coin from a $12+ coin instantly.
The magnet test is the fastest way to distinguish a common plated-steel 2003 quarter (sticks) from the valuable Sterling Silver Proof (does not stick). (Illustration — not a photo of your exact coin)
B) Sterling Silver .925 — Silver Proof Issues Only
The Proof version of the 2003 quarter — found exclusively in the annual Silver Proof Set or the special Coronation 50th Anniversary Proof Set — is struck in .925 Sterling Silver. These are Non-Circulating Legal Tender (NCLT) products intended solely for the collector market.
- Magnetic signature: NO — silver is diamagnetic. A magnet will not adhere to these coins.
- Weight: 5.83 grams — 1.43 grams heavier than the steel coin; a perceptible difference when handled side by side.
- Melt value calculation: Based on a coin weight of 5.83 g at .925 purity, the pure silver content is approximately 5.39 g (~0.1734 troy oz). At the February 2026 spot price of approximately $49–$50 CAD per troy ounce, the documented approximate melt value is ~$8.56 CAD. This represents the hard price floor for any 2003 Silver Proof quarter regardless of condition. See SilverPrice.org (CAD) or AU Bullion Canada live silver prices for current spot.
Because the melt floor (~$8.56 CAD) is substantially below the numismatic value of an intact Proof coin ($12–$25), damaged, impaired, or heavily toned specimens may trade near melt. If the silver spot price rises significantly, melt value can converge with — or exceed — lower collector grades, turning these coins into de facto bullion pieces.
⚠️ Never Spend a Silver Proof Quarter at Face Value
The 2003 Silver Proof quarter is technically legal tender for $0.25 but is Non-Circulating Legal Tender (NCLT). Spending one at face value destroys $12–$25 in collector value instantly. Use the magnet test and weight check (5.83 g vs. 4.40 g for steel) to protect yourself.
2003 Canadian Quarter Value Chart by Grade & Finish
2003 Canadian Quarter Value Chart by Grade & Finish
The 2003 quarter was issued in five distinct product types, each valued on its own scale. All values in CAD as of February 2026.
Left to right: Business Strike (cartwheel luster), Specimen (matte/lined field with frosted devices), and Silver Proof (deep mirror fields). Each finish is valued on a completely different scale. (Illustration — not a photo of your exact coin)
2003 Canadian Quarter — Business Strike (Circulation)
Business Strike quarters bear the P mark below the Queen's bust, confirming Multi-Ply Plated Steel composition. The mid-year effigy change creates two sub-varieties within this finish: the Old Effigy (Crowned) with an approximate mintage of ~87.6 million, and the New Effigy (Bare Head) with an approximate mintage of ~13 million. Despite the lower New Effigy mintage, collector hoarding at the time of release maintained healthy supply in lower uncirculated grades; the New Effigy commands a slight premium only at MS-65 and above due to "First Year of Issue" demand.
| Design / Variety | Circulated | MS-60–62 (BU) | MS-63–64 (Choice) | MS-65 (Gem) | MS-66 (Superb) | Notes |
|---|---|---|---|---|---|---|
| Old Effigy (Crowned — P) | $0.25 | $0.50 | $2.00–$8.00 | $20.00 | $40.00 | ~87.6M struck. MS-67/68 trophy values: $100–$250+ (see Variants) |
| New Effigy (Bare Head — P) | $0.25 | $0.50 | $1.00–$8.00 | $22.00 | $45.00 | ~13M struck. First year of Blunt portrait. MS-67/68: $120–$300+ (see Variants) |
The value cliff at MS-65 is steep: a coin worth $0.50 in BU grades jumps to $20–$22 in Gem. Plated-steel surfaces are susceptible to bag marks and "spider webbing" die deterioration, making true Gems scarce in large populations.
⚠️ Never Clean Your Coins
Cleaning a 2003 quarter strips the original cartwheel luster and leaves hairlines visible under magnification. A cleaned coin receives a "Details — Cleaned" designation from ICCS, PCGS, or NGC, eliminating all numismatic premium regardless of underlying detail. A $20 Gem coin becomes a $0.25 coin the moment it is wiped or polished.
Grade comparison: MS-63 (Choice, left) shows minor contact marks; MS-65 (Gem, centre) has virtually no marks and strong luster; MS-66 (Superb, right) displays exceptional surfaces. The value difference between MS-63 and MS-65 is roughly 30× for the New Effigy. (Illustration — not a photo of your exact coin)
2003 Canadian Quarter — Specimen (SP)
Specimen coins were produced exclusively for inclusion in the Royal Canadian Mint's annual Specimen Set, packaged in a red leatherette box. They are distinguished by their frosted relief against a linearly lined (matte) field — a finish entirely different from both Business Strike cartwheel luster and Proof mirror fields. Both Old and New Effigy specimens were produced at the same documented price points.
| Design | SP-63 (Choice) | SP-65 (Gem) | SP-66 (Superb) | Notes |
|---|---|---|---|---|
| Old Effigy (Crowned) | $5.00 | $10.00 | $20.00 | From red leatherette Specimen Sets only. "Milk spots" from humidity reduce grade. |
| New Effigy (Bare Head) | $5.00 | $10.00 | $20.00 | From red leatherette Specimen Sets only. First-year Blunt portrait specimen. |
Specimen coins found loose (outside their original case) are considered impaired and valued near face value. The matte finish is diagnostic; a Business Strike with cartwheel luster is never a Specimen.
2003 Canadian Quarter — Winnipeg Proof-Like (WP Mark)
The 2003 Uncirculated Sets were struck at the Royal Canadian Mint's Winnipeg facility and carry the distinctive WP mark (Winnipeg Plated) below the New Effigy Queen's bust. This makes the 2003 Uncirculated Set quarter the only 25-cent coin of this era to explicitly carry the Winnipeg facility mark — a deliberate RCM decision to create a distinguishable collector product. Proof-Like coins feature brilliant relief against brilliant (mirror-like) fields and were available exclusively through the annual Uncirculated Set.
| Variety | Finish | Mintage | PL-65–67 Value Range | Melt Floor | Notes |
|---|---|---|---|---|---|
| New Effigy (WP Mark) | Proof-Like (PL) | ~94,126 | $3.00–$7.00 | N/A (steel) | Winnipeg Uncirculated Sets only. Never released in circulation rolls. Near-100% survival rate in high grade keeps prices modest despite low mintage. |
Source: Calgary Coin Gallery — Canadian Quarters. Also see the 2003 Special Edition Proof-Like Uncirculated Coin Set listing at London Coin Centre.
2003 Canadian Quarter — Canada Day Coloured
The Canada Day Coloured quarter was issued in a specialized gift folder with a total mintage of approximately 63,511. It features a pad-printed coloured reverse design — a red maple leaf and polar bear — making it visually unmistakable. This is a Non-Circulating Legal Tender (NCLT) collector issue produced in a Business Uncirculated / Proof-Like finish.
| Issue | Finish | Mintage | Value Range | Notes |
|---|---|---|---|---|
| Canada Day Coloured (Red Maple Leaf / Polar Bear reverse) | BU / PL | ~63,511 | $10.00–$15.00 | Issued in gift folder. Pad-printed colour technology. NCLT. |
2003 Canadian Quarter — Sterling Silver Proof
Two distinct Silver Proof quarters were issued in 2003: the standard Caribou reverse (from the annual Silver Proof Set) and the Coronation Commemorative (double dated 1953–2003, from the special Coronation 50th Anniversary Proof Set). The Coronation issue commands a higher premium due to its unique Young Head obverse design and appeal to historical and royalty collectors. Both are .925 Sterling Silver, non-magnetic, and weigh 5.83 grams.
| Design | Finish | General PR Value Range | PR-70 DCAM (Trophy) | Melt Floor | Notes |
|---|---|---|---|---|---|
| Silver Proof — Caribou (Standard reverse) | Proof (PR) | $12.00–$18.00 | $150–$300 (see Variants) | ~$8.56 CAD | From annual Silver Proof Set. Deep mirror fields, frosted devices. Non-magnetic. |
| Silver Proof — Coronation 1953–2003 | Proof (PR) | $18.00–$25.00 | $150–$300 (see Variants) | ~$8.56 CAD | Double-dated obverse; Young (1953) Queen portrait. Special Edition Proof Set only. |
Values sourced from Coins and Canada — 25 Cents 1990–2003 price guide and NGC World Coin Price Guide — Canada 25 Cents. For the complete denomination price guide, see our Canadian Quarter Value Guide.
Most Valuable 2003 Canadian Quarter Varieties
Most Valuable 2003 Canadian Quarter Varieties
While the typical 2003 quarter is common, specific condition rarities and collector-only varieties create meaningful premiums. The following two tiers separate the "trophy" coins from the findable varieties a patient collector can realistically identify.
A) Trophy-Level Varieties (Condition Rarity)
In the modern plated-steel era, value is overwhelmingly driven by condition rarity. A 2003 quarter worth $0.25 in circulation can be worth hundreds of dollars in the top two or three grades in existence — a phenomenon driven by Registry Set competition, where collectors compete online to own the finest certified set of coins for a given series.
| Coin / Variety | Grade | Why It Is Expensive | Estimated Market Price | Notes |
|---|---|---|---|---|
| 2003 Old Effigy (P) | MS-67 / MS-68 | Population rarity. High-speed early-year presses produced abundant bag marks. A virtually flawless example is statistically rare in a mintage of ~87.6 million. | $100–$250+ | Requires PCGS or ICCS certification to verify grade. Raw coins do not command these prices. |
| 2003 New Effigy (P) | MS-67 / MS-68 | First-year demand for Susanna Blunt's portrait combined with low population of pristine examples drives a premium over the Old Effigy at top grades. | $120–$300+ | Sought by type collectors and Registry Set participants. Grading cost ($30+) must be weighed against value potential. |
| 2003 Silver Proof (Caribou or Coronation) | PR-70 Deep Cameo | A "perfect" coin with maximum deep-cameo contrast (black-and-white frosted devices vs. mirror fields) is the ultimate target for proof collectors. PR-69 is common; PR-70 is the trophy. | $150–$300 | Source: Coins and Canada and PCGS ValueView™. |
These prices reflect coins in professionally graded, certified holders from PCGS or ICCS. A raw, ungraded coin found in a roll will almost never command these prices regardless of how "shiny" it appears.
B) Findable Varieties — What to Check Right Now
These varieties are identifiable with a magnet, a scale, and basic visual inspection. No professional grading is required to confirm them, though grading adds marketability.
| Variety | How to Identify | Why It Is Rarer | Typical Value |
|---|---|---|---|
| WP Mint Mark (New Effigy) | Look for the letters WP below the Queen's bare-head bust truncation. New Effigy obverse only. | Struck at Winnipeg specifically for Uncirculated Sets; never released in circulation rolls. Mintage: ~94,126. | $3.00–$7.00 |
| Silver Proof — No P Mark | Non-magnetic, weighs 5.83 g, mirror fields with frosted devices, no "P" mark below bust. | Found only in prestige proof sets. Frequently removed from packaging by previous owners, creating identification risk. | $10.00–$18.00 |
| Coronation Commemorative (1953–2003) | Obverse shows double dates 1953–2003 and the youthful 1953-style Queen portrait. Reverse: standard Caribou. | One-year-only commemorative design for the 50th anniversary of the Coronation, issued only in special proof sets. .925 Silver. | $18.00–$25.00 |
| Canada Day Coloured | Reverse features a pad-printed red maple leaf and polar bear design. Colour is not paint — it is fused into the surface. | Low mintage (~63,511) issued in a gift folder. The coloured technology distinguishes it at a glance. | $10.00–$15.00 |
The 2003 Coronation Commemorative quarter features the double date 1953–2003 and a youthful Young Head portrait of Queen Elizabeth II on the obverse. It is struck in .925 Sterling Silver and found only in special proof sets. Test with a magnet to confirm — it will not stick.
The 2003 Canada Day Coloured quarter (mintage ~63,511) features a distinctive pad-printed red maple leaf design on the reverse — immediately identifiable by its colour. Issued in a gift folder; not a circulation coin.
2003 Canadian Quarter Identification Guide
2003 Canadian Quarter Identification Guide
Use this 30-second checklist to determine exactly which 2003 quarter you have. The sequence below mirrors the document's triage workflow — most identifications are resolved by Step 3.
Left: Old Effigy (Crowned) — Queen wearing a tiara/diadem, design by Dora de Pédery-Hunt; struck early 2003, mintage ~87.6 million. Right: New Effigy (Bare Head) — Queen without crown, wearing pearl necklace, design by Susanna Blunt; struck late 2003, mintage ~13 million. Both are legitimate 2003 circulation quarters. (Illustration — not a photo of your exact coin)
Step 1: Monarch Check (Obverse)
- Old Effigy: The Queen wears a crown (tiara/diadem) — Dora de Pédery-Hunt's Third Portrait. Struck during the first part of 2003. Mintage: ~87.6 million. Common.
- New Effigy: The Queen is bare-headed, wearing a pearl necklace — Susanna Blunt's Fourth Portrait. Struck later in 2003 to coincide with the Coronation anniversary. Mintage: ~13 million. Common but collected as a first-year type.
- Young Portrait (1953-style): The Queen appears very young and the dates read 1953–2003. This is the Coronation Commemorative obverse. It is .925 Sterling Silver. Proceed immediately to the magnet test to confirm.
Step 2: Mark Check (Below Queen's Bust)
Close-up of the area below the Queen's bust truncation on two 2003 quarters. Left: the standard P mark, indicating Multi-Ply Plated Steel — circulation, PL, or Specimen finish. Right: the WP mark, indicating the Winnipeg Proof-Like variety from the Uncirculated Set. A coin with no mark and mirror fields is a Silver Proof. (Illustration — 10× magnification)
- PMark: Confirms Multi-Ply Plated Steel. Standard circulation issue. Face value unless MS-65 or higher.
- WPMark: Confirms Winnipeg Uncirculated Set issue (New Effigy obverse only). Minor collector premium — $3–$7.
- No Mark (combined with mirror-like fields): Strongly suggests a Silver Proof. Proceed to the magnet test to confirm.
Step 3: Magnet Test (The Decisive Test)
This is the definitive compositional test for any 2003 Canadian quarter. Apply a standard magnet to the coin.
- Sticks to magnet → Multi-Ply Plated Steel. Composition: 94% steel core. Includes all circulation strikes (P), all Winnipeg Uncirculated Set coins (WP), and all Specimen (SP) coins. Typical value: face value ($0.25) to $0.50 unless MS-65+.
- Does NOT stick to magnet → Sterling Silver (.925). Identity: Silver Proof. Typical value: $8.56 (melt) to $25.00 (collector) depending on design and grade.
Step 4: Reverse Check
The standard 2003 Canadian quarter reverse featuring the Caribou design used on Canadian quarters since 1937, with "CANADA" and "25 CENTS" inscriptions. If your coin shows a red maple leaf with a polar bear, it is the Canada Day Coloured issue (~63,511 mintage, $10–$15). If the obverse shows 1953–2003 dates, the reverse is still the Caribou but the coin is the Coronation Silver Proof.
- Standard Caribou reverse: The common design used since 1937. Coin identity depends on obverse effigy, "P"/"WP" mark, and magnet test.
- Red maple leaf and polar bear (coloured): Canada Day Coloured issue. Mintage ~63,511. Value $10–$15.
Step 5: Finish Identification
- Cartwheel luster: When the coin is rotated under a light source, a "propeller" of light spins around the coin's surface. Identity: Business Strike (Circulation).
- Mirror fields: You can see a clear reflection in the flat background areas of the coin. Identity: Proof or Proof-Like. Apply magnet to distinguish steel PL from silver Proof.
- Matte / lined fields: The background appears grey with fine parallel lines while the Queen's portrait and Caribou are frosty/shiny. Identity: Specimen Strike. From the red leatherette Specimen Set box.
Summary Identification Table
| Magnet Test | Mark | Finish | Identity | Typical Value |
|---|---|---|---|---|
| Yes (Sticks) | P | Cartwheel luster | Business Strike — Old or New Effigy | $0.25 (face) to $45+ (MS-66) |
| Yes (Sticks) | WP | Cartwheel / mirror | Winnipeg Uncirculated Set — PL (New Effigy) | $3–$7 |
| Yes (Sticks) | P | Matte / lined fields | Specimen Strike — Old or New Effigy | $5–$20 |
| No (Does not stick) | None | Deep mirror fields, frosted devices | Silver Proof — Caribou or Coronation 1953–2003 | $12–$25 (melt floor ~$8.56) |
ℹ️ Grading Services for 2003 Quarters
ICCS (International Coin Certification Service) is the Canadian standard for circulation and collector coins and is widely accepted at coin shows. PCGS and NGC are preferred for high-end Registry Set competition coins (MS-67 and above), as their hard-plastic holders are preferred by investors. For most 2003 quarters, grading fees ($30+ per coin) exceed the coin's numismatic value — submission is economically justified only for potential top-pop candidates (MS-66 and above or pristine Silver Proofs).
2003 Canadian Quarter Value FAQs
2003 Canadian Quarter Value FAQs
What is a 2003 Canadian quarter worth?
Most 2003 Canadian quarters found in circulation are worth face value — $0.25. The coin only begins to acquire meaningful numismatic premium at MS-65 (Gem), where Old Effigy examples are worth $20 and New Effigy examples $22. Silver Proof versions carry a documented melt floor of approximately ~$8.56 CAD and a collector range of $12–$25 depending on design and grade. The "WP" Winnipeg variety from Uncirculated Sets adds a modest premium of $3–$7.
How do I tell the Old Effigy from the New Effigy on a 2003 quarter?
Look at the obverse (heads side). The Old Effigy shows Queen Elizabeth II wearing a crown (tiara/diadem) — this is Dora de Pédery-Hunt's Third Portrait, used from 1990 through mid-2003. The New Effigy shows the Queen bare-headed with a pearl necklace — this is Susanna Blunt's Fourth Portrait, first introduced in 2003. The Old Effigy had a mintage of approximately 87.6 million; the New Effigy approximately 13 million for 2003.
Is my 2003 Canadian quarter silver?
The fastest test is a magnet: plated-steel circulation quarters stick firmly to a magnet, while Sterling Silver (.925) proof quarters do not. If your coin does not stick, check for mirror-like fields (deep proof finish) and the absence of a "P" mark below the Queen's bust — all three characteristics together confirm a Silver Proof worth $12–$25. The silver proof also weighs 5.83 grams, versus 4.40 grams for the steel coin.
What is the "WP" mint mark on a 2003 quarter and how much is it worth?
The WP mark (Winnipeg Plated) appears below the Queen's bust on New Effigy coins struck at the Royal Canadian Mint's Winnipeg facility exclusively for the 2003 Uncirculated Sets. It was a deliberate RCM decision to mark these set-only coins distinctly. The WP quarter was never released in circulation rolls. With a mintage of approximately 94,126 and a near-100% collector survival rate, demand is modest: typical value is $3–$7 in PL-65 to PL-67 grades. See London Coin Centre's 2003 Special Edition Proof-Like set listing for context.
What is the most valuable 2003 Canadian quarter?
The highest documented values belong to top-grade certified examples. A 2003 New Effigy quarter certified MS-67 or MS-68 by PCGS can reach $120–$300+, driven by Registry Set competition. A 2003 Old Effigy at the same grade reaches $100–$250+. Among Silver Proof issues, a PR-70 Deep Cameo example (perfect surfaces with maximum frosted contrast) can command $150–$300. These trophy coins require professional certification from PCGS or ICCS — raw coins do not realize these prices. See the PCGS ValueView™ for 2003-P Canada for high-grade population context.
What is the difference between a Business Strike, a Specimen, and a Proof?
All three finishes are legitimate RCM products but are produced on different dies with different finishing processes. A Business Strike has cartwheel luster from high-speed pressing and will show contact marks from bulk handling. A Specimen (SP) has a distinctive satin or matte background with sharp, frosted devices and squared rims — produced by striking specially prepared planchets at slower speeds, found only in the red leatherette Specimen Set. A Proof (PR) — only on the Silver versions — has deep mirror fields and heavily frosted devices, produced on highly polished dies with multiple strikes; found only in the annual Silver Proof Set or the Coronation special set. The magnet test distinguishes steel (BS, PL, SP) from silver (Proof) regardless of finish appearance.
Should I have my 2003 quarter professionally graded?
Grading fees typically run $30 or more per coin, which exceeds the value of most 2003 quarters up to MS-65. Grading is economically justified only if you believe your coin grades MS-66 or higher (value: $40–$45) or if you have a Silver Proof that may grade PR-69 or PR-70 DCAM. In the Canadian market, ICCS is the standard for circulation and collector coins; PCGS is preferred for top-grade Registry Set submissions. Do not submit a coin you suspect has been cleaned — it will receive a Details designation and lose all premium.
What is the 1953–2003 Coronation Commemorative quarter?
The Coronation Commemorative was struck in .925 Sterling Silver to mark the 50th anniversary of Queen Elizabeth II's coronation. Its obverse shows the youthful 1953-style portrait of the Queen — not used on standard circulation coinage — with the dual dates 1953–2003. It was issued exclusively in the Special Edition Silver Proof Set. The Coronation quarter commands a higher premium than the standard Silver Proof Caribou — $18–$25 versus $12–$18 — due to its unique historic design and appeal to royalty and commemorative collectors. Confirm with the magnet test: it will not stick.
Methodology & Sources
Methodology & Sources
Values in this guide reflect typical retail market prices in Canadian Dollars (CAD) as of February 2026, compiled from primary Canadian numismatic sources. All prices are for non-error, standard coins; major mint errors are outside scope. This guide covers standard and collector issues only.
Primary sources consulted:
- Coins and Canada — 25 Cents 1990–2003 Price Guide — Real-time Canadian market pricing and variety attribution.
- NGC World Coin Price Guide — Canada 25 Cents — High-grade values and population context.
- PCGS ValueView™ — 2003-P Canada 25 Cents — Registry set population and auction data.
- Royal Canadian Mint — 25 Cents (Official) — Authoritative production specifications.
- Royal Canadian Mint 2003 Annual Report — Official mintage figures and production data.
- Charlton Standard Catalogue of Canadian Coins (78th Edition) — The definitive Canadian coin reference for varieties, mintages, and variety listings.
- Numista — Canada 25 Cents, Elizabeth II (3rd Portrait, Plated) — Specifications and variety reference.
- Numista — Canada 25 Cents, Elizabeth II (4th Portrait) — New Effigy specifications.
- Calgary Coin Gallery — Canadian Quarters — WP variety pricing and dealer market data.
- SilverPrice.org — Silver Price Canada (CAD) — Live silver spot price reference for melt value calculations.
Market disclaimer: Coin values fluctuate with precious metal spot prices, collector demand, and population data. The silver melt floor will change as silver spot prices move. Prices stated here represent typical market conditions as of February 2026 and should be treated as guidance, not guarantees of realised value.
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.