2022 Canadian 25-Cent (Quarter) Value Guide
Find out what your 2022 Canadian quarter is worth. Complete price guide covering Standard Caribou, First Strike, Last Strike, Specimen, Fine Silver Proof, and 5 oz NCLT variants — current CAD market values by grade and finish.
Most 2022 Canadian quarters found in pocket change are worth face value — $0.25 CAD. In high certified grades, values climb sharply, and the rare 5 oz silver NCLT version trades for $600–$800 CAD.
- Circulated (face value):$0.25
- MS60–MS64 (Uncirculated): Face value to $1.00
- MS65 (Gem Uncirculated):$5.00–$8.00
- MS66 (Superb Gem):$20.00–$35.00 — scarce on MPPS steel surfaces
- MS67 (Ultra Gem):$60.00–$100.00+ — usually from First/Last Strike sets
- MS68+:$200.00+ — very rare for plated steel
- First Strike (raw, in roll):$5.00 | Certified MS-67: $85.00
- Last Strike (raw):$8.00 | Certified MS-67: $100.00
- Specimen (raw):$5.00 | Certified SP-65: $10.00
- Fine Silver Proof (raw):$25.00–$35.00 | PF-69/PF-70 UC: $75.00–$120.00
- 5 oz Silver NCLT “The Bigger Picture”:$600.00–$800.00
All values in CAD. Data reflects 2024–2025 secondary market estimates. Value is driven by grade, finish, and provenance (sealed First/Last Strike packaging). A quick magnet test is the fastest way to check composition: the standard steel issue is strongly magnetic; silver NCLT and Fine Silver Proof versions are non-magnetic. See full value chart →
The 2022 Canadian quarter closes the book on Susanna Blunt's fourth portrait of Queen Elizabeth II, which first appeared on Canadian coinage in 2003 and remained through Her Majesty's passing in September 2022. The reverse retains Emanuel Hahn's iconic Caribou design, a national numismatic constant since 1937. With a total circulation mintage of 91,680,000 and collector variants ranging from First Strike rolls (5,000 sets) to a 5-ounce pure silver NCLT piece struck in just 1,300 examples, the 2022 quarter spans one of the broadest value ranges of any modern Canadian denomination. For price history across all years of the 25-cent piece, see our Canadian Quarter Value Guide.
2022 Canadian Quarter Composition & Technical Specifications
Multi-Ply Plated Steel (MPPS) Technology
The standard 2022 quarter is struck using the Royal Canadian Mint's proprietary Multi-Ply Plated Steel (MPPS) process: a steel core (94%) bonded with a copper layer (3.8%) and finished with an outer nickel plating (2.2%). This construction has been the standard for Canadian circulation quarters since the early 2000s and has three direct implications for collectors:
- Strongly magnetic: The dominant steel core means a standard 2022 quarter is attracted to a magnet. This is the single most important field test for distinguishing it from any silver NCLT or proof version.
- Hard surface, unforgiving contact marks: Nickel plating over steel is exceptionally hard. Bag marks — scratches from coins contacting each other during bulk bagging and machine wrapping — appear as bright silver lines against the plating. This physical reality is why pristine MS67+ examples are genuinely scarce despite the 91-million coin mintage.
- Rust risk if plating is breached: A deep scratch or rim ding that penetrates to the steel core can allow oxidation. A rusted steel-core coin has no numismatic value beyond its damage curiosity.
NCLT Silver Versions
The 2022 Fine Silver Proof quarter (from collector proof sets) and the 5 oz “The Bigger Picture” NCLT coin are struck in 99.99% pure silver. Both are non-magnetic and significantly heavier than the standard issue. These are never found in general commerce; the magnet test and weight check are definitive authentication tools.
| Issue Type | Composition | Weight | Diameter | Magnetic? |
|---|---|---|---|---|
| Standard Circulation | 94% Steel, 3.8% Cu, 2.2% Ni plating (MPPS) | 4.40 g | 23.88 mm | Yes |
| Fine Silver Proof (Collector Set) | 99.99% Pure Silver | 6.00 g | 23.88 mm | No |
| 5 oz Silver NCLT (“The Bigger Picture”) | 99.99% Pure Silver | 157.60 g | 65.25 mm | No |
No melt value for the standard steel issue is calculated in the source material. Silver NCLT values are driven by silver spot price and collector demand rather than metal content alone — see the value chart for current estimates. The Royal Canadian Mint's official 25-cent page confirms standard specifications.
2022 Canadian Quarter Value Chart by Grade & Variant
Left to right: Business Strike (cartwheel luster), Specimen (lined/striated background fields), Fine Silver Proof (deep mirror fields with frosted devices). These three finishes carry very different values and can be visually distinguished in hand. (Illustration — not photos of your exact coins)
2022 Canadian Quarter — Business Strike (Grade Curve)
With 91,680,000 coins produced, value in the standard Caribou circulation market is driven almost entirely by condition rarity, not mintage scarcity. Anything below MS-65 is essentially a spending coin. The curve spikes sharply at MS66 because the MPPS steel surface is unforgiving — contact marks from bulk bagging show up as bright scratches under any light source, making clean examples progressively harder to find above Gem.
| Design | Circulated | MS60–MS64 | MS65 | MS66 | MS67 | MS68+ |
|---|---|---|---|---|---|---|
| Standard Caribou | $0.25 | Face–$1.00 | $5.00–$8.00 | $20.00–$35.00 | $60.00–$100.00+ | $200.00+ |
ℹ️ The MS66 Wall
The jump from MS-65 ($5.00–$8.00) to MS-66 ($20.00–$35.00) reflects the genuine difficulty of finding a 2022 quarter free of the bright bag-mark scratches introduced during commercial wrapping. Coins from Original Mint Rolls — shrink-wrapped by the RCM — offer the best statistical chance of clearing MS66 because coins in the center of the roll are physically buffered from rim-to-rim contact damage. Coins from armored-car (Loomis/Brinks) bank rolls have almost no realistic path to MS67.
MS65 (left) shows the minor contact marks typical of RCM mint-roll coins; MS67 (right) has fully pristine fields. On MPPS plated steel, these scratches appear as bright white lines — harder to hide than on silver or nickel alloys. (Illustration — not photos of your exact coins)
2022 Canadian Quarter — Provenance Variants (First Strike / Last Strike / Keepsake)
Because the standard Caribou design is shared across multiple 2022 collector packaging programs, the provenance of a coin — the verified packaging it originated from — is a primary value driver this year. Once removed from original sealed packaging and unattributed, a coin reverts to standard circulation pricing regardless of its grade potential.
| Variant | Raw Circulated | Raw Uncirculated | Certified MS-65 | Certified MS-67 | Notes |
|---|---|---|---|---|---|
| Standard Circulation | $0.25 | $0.50 | $8.00 | $65.00 | Bank roll or general commerce |
| First Strike — Winnipeg (Special Wrap Roll) | N/A | $5.00 (in sealed roll) | $15.00 | $85.00 | 5,000 sets. No physical mint mark on coin. Premium requires sealed roll or certified provenance. |
| Last Strike — Uncirculated Set | N/A | $8.00 | $20.00 | $100.00 | 40,000 sets. Complete sealed set: $35.00–$50.00. “End of reign” narrative drives demand. |
| Keepsake Card Quarter (Oscar Peterson / Summit Series) | N/A | $2.00–$5.00 | — | — | Standard Caribou design only. Value in complete set context. |
⚠️ Provenance Is Packaging — There Is No Physical Mint Mark
The 2022 First Strike coins from the Winnipeg facility carry no “W” mint mark or any identifying feature on the coin itself. A First Strike quarter removed from its original holographic-label roll is physically identical to any standard circulation coin. The entire provenance premium disappears without the sealed original packaging or a third-party certification label explicitly attesting to the First Strike designation.
2022 Canadian Quarter — Specimen
The Specimen finish is produced exclusively at the Royal Canadian Mint's Ottawa facility. Specimen coins feature distinct parallel striations in the background field, with sharply struck raised devices presenting a brilliant, squared-rim appearance — visually different from both the cartwheel luster of a business strike and the full-mirror field of a proof coin. Found in the 2022 Specimen Set.
| Finish | Raw | SP-65 | SP-67 | Notes |
|---|---|---|---|---|
| Specimen | $5.00 | $10.00 | $50.00 | Appreciates less than proofs or high-grade business strikes. From 2022 Specimen Set only. |
2022 Canadian Quarter — Fine Silver Proof
The Fine Silver Proof quarter is found exclusively in the 2022 Fine Silver Proof Set. Struck in 99.99% pure silver (non-magnetic, 6.00 g), it features frosted devices against deep mirror fields — the classic cameo-proof presentation. The “last year of the Susanna Blunt effigy” context makes the 2022 silver proof distinctly more desirable to transition-year collectors than a generic prior-year example.
| Finish | Raw | PF-65 | PF-69 | PF-69 / PF-70 Ultra Cameo | Notes |
|---|---|---|---|---|---|
| Fine Silver Proof (99.99% Ag) | $25.00–$35.00 | $40.00 | $80.00 | $75.00–$120.00 | Non-magnetic. Weighs 6.00 g vs 4.40 g for steel issue. Magnet test is definitive. |
2022 Canadian Quarter — 5 oz Pure Silver NCLT (“The Bigger Picture”)
Part of the RCM's The Bigger Picture series, this 5-ounce pure silver coin reimagines the Caribou reverse with the scene expanded — the Caribou is depicted swimming in a river alongside a boatman, a scene impossible to depict at standard 23.88 mm scale. At 157.6 grams and 65.25 mm diameter it dwarfs the circulation coin while remaining legal tender at 25 cents. With only 1,300 examples produced, it holds the rarest mintage of any 2022 quarter variant. Specifications are confirmed in the Numista catalogue for 2022 Canadian 25-cent coins.
| Coin | Mintage | Raw Value | Top-Grade Value | Notes |
|---|---|---|---|---|
| 5 oz Silver “The Bigger Picture” | 1,300 | $600.00+ | $800.00+ | Value influenced by silver spot price and series collector demand. Rarely appears in standard auction channels. |
All values in CAD represent 2024–2025 secondary market estimates. For the complete 25-cent price history across all years, see our Canadian Quarter Value Guide.
Most Valuable 2022 Canadian Quarter Variants
First Strike holographic-label roll (left, 5,000 sets) vs Last Strike presentation folder (right, 40,000 sets). Without original sealed packaging or third-party certification, both coins are indistinguishable from standard circulation pieces and revert to standard value.
Trophy-Level 2022 Quarter Variants
1. 5 oz Pure Silver “The Bigger Picture” — $600–$800+ CAD
The rarest 2022 quarter variant by mintage, with only 1,300 examples produced. The design expands the classic Caribou reverse to reveal the full scene — a Caribou swimming in a river alongside a boatman — a panorama invisible at standard 23.88 mm scale. Traded primarily among silver bullion collectors and RCM series completionists; these rarely appear in standard coin auction channels and are considered prestige holdings.
2. Fine Silver Proof PF-69 / PF-70 Ultra Cameo — $75–$120 CAD
Top-certified examples of the 2022 Fine Silver Proof quarter command premiums substantially above raw value ($25–$35). The Ultra Cameo designation — maximum frosted-device contrast against mirror fields — is required to reach the top of the value range. The “last year of the Susanna Blunt effigy” adds a historical premium over proof coins from generic prior years.
3. Last Strike Certified MS-67 — $100 CAD
From the 2022 Dated Last Strikes Uncirculated Set (40,000 sets). The Last Strike narrative appeals strongly to effigy collectors building “final year of monarch” Commonwealth sets — a recognized collecting category with historical precedent going back to the 1901 Victoria and 1910 Edward VII issues. A complete sealed set trades for $35–$50 CAD; a raw single quarter from this set is valued at $5–$8 CAD based on provenance alone.
4. First Strike Certified MS-67 — $85 CAD
From the 2022 Special Wrap Roll Collection: First Strikes (5,000 sets total). Struck on the first day of production at the Winnipeg Mint with fresh dies and handled with greater care than bank-roll coins, these represent the highest-quality starting point for business-strike grading. The complete roll set originally retailed for approximately $93 USD; the quarter roll alone commands $25–$40 CAD on the secondary market.
Findable 2022 Quarter Variants
Sealed First Strike Rolls
The most accessible way to secure authenticated First Strike provenance. An intact roll from the 2022 Special Wrap Roll Collection — holographic label unbroken — is valued at $25–$40 CAD. Coins from these rolls are the strongest candidates for MS66 and MS67 grades because they bypassed the bulk bagging step that inflicts most contact-mark damage.
Last Strike Uncirculated Set (Sealed)
The complete sealed presentation folder (all denominations) trades for $35–$50 CAD. A raw quarter pulled from this set and sold loose is worth $5–$8 CAD on provenance alone — that premium requires either the original folder or third-party attestation if the set has been broken.
Keepsake Card Quarters (Oscar Peterson / Summit Series Themes)
The Celebrating Oscar Peterson Commemorative Collector Keepsake Card included a standard 2022 Caribou quarter — not an Oscar Peterson design coin (that commemorative went to the $1 Loonie, not the quarter). Summit Series-themed keepsake cards similarly enclosed standard Caribou quarters. These trade for $2–$5 CAD raw, purely for their uncirculated condition. Do not pay a design-rarity premium for either of these quarters.
The 5 oz “The Bigger Picture” silver coin (right, 65.25 mm, 157.6 g) compared to the standard 2022 circulation quarter (left, 23.88 mm, 4.40 g). Both are legal tender at 25¢ — but only 1,300 of the silver version were struck.
⚠️ Buyer Beware: The “2022 Medal of Bravery Quarter” Does Not Exist
The Royal Canadian Mint's 2022 $20 Fine Silver Coin celebrating the 50th Anniversary of the Medal of Bravery included a bonus 25-cent coin — but that coin was the 2006 Medal of Bravery commemorative quarter, not a 2022-dated issue. Marketplace listings claiming a “2022 Medal of Bravery Quarter” are mislabeled sets containing a 2006 quarter. Do not pay a 2022-date or “rare quarter” premium for this coin; any value in these sets lies entirely in the accompanying 2022 $20 silver piece.
⚠️ Never Clean Your Coins
Cleaning strips the original luster from the MPPS nickel surface and leaves hairlines clearly visible under any light. A cleaned coin is assigned a “Details” or “Cleaned” designation by ICCS, PCGS, or NGC and loses all numismatic premium regardless of its underlying sharpness.
2022 Canadian Quarter Identification Guide
Use this 30-second checklist to confirm exactly which 2022 quarter you have and to identify its finish and variant category before assessing value.
Obverse: Susanna Blunt's fourth portrait of Queen Elizabeth II — bare head, facing right, simple string of pearls, no crown. Introduced 2003 and retired with Her Majesty's passing in September 2022. Reverse: Emanuel Hahn's Caribou design, unchanged since 1937. Key labels confirm the “ELIZABETH II D.G. REGINA” legend and the “CANADA 25 CENTS” denomination.
30-Second Identification Checklist
- Portrait Check: The obverse shows Queen Elizabeth II bare-headed — no crown, wearing a simple string of pearls and earrings, facing right. This is the Susanna Blunt Fourth Portrait, used from 2003 through 2022. If the effigy wears a tiara or diadem, your coin predates 2003.
- Reverse Check: Confirm the Caribou head facing right, by Emanuel Hahn. The legend reads CANADA above and 25 CENTS below. The date 2022 appears on the reverse.
- Date Check: Single date: 2022. No dual dates on the standard 2022 circulation coin.
- Edge Check: Reeded (serrated). Both the standard steel coin and the silver NCLT versions share a reeded edge.
- Magnet Test — Critical Composition Check:
- Strongly magnetic → Standard steel MPPS issue. This is the common circulation coin valued at $0.25–$100+ depending on grade and provenance.
- Non-magnetic → Pure silver (Fine Silver Proof or 5 oz NCLT). Silver versions are worth a minimum of $25 and up to $800+ for the 5 oz coin. A single fridge magnet is sufficient for this test.
- Weight Check (Secondary): Standard steel coin: 4.40 g. Fine Silver Proof: 6.00 g. The 1.60 g difference is reliably detectable on any precision gram scale. Use this as a backup if no magnet is available.
- Mint Mark Check: No physical mint marks appear on 2022 Canadian circulation quarters. There is no “W” stamped on the 2022 First Strike coins — provenance is established only by the original sealed holographic roll or a third-party certification label. Do not assume First Strike status from any feature visible on the coin face.
- Finish Identification — The Critical Step:
- Business Strike: Cartwheel luster — the light spins across the coin's fields as you slowly tilt it under a single light source. Standard handling marks expected.
- Specimen: Distinct parallel striations (fine lines) in the background field, with sharply struck, squared-rim devices. No cartwheel spin. Found only in the 2022 Specimen Set from the Ottawa facility.
- Fine Silver Proof: Deep mirror-like fields — you can see your own reflection in the background. The Queen's portrait and Caribou devices appear frosted or matte against these mirrors. Non-magnetic. Found only in the 2022 Fine Silver Proof Set.
- Provenance Check (for premium variants): For First Strike and Last Strike coins, the original sealed packaging is the only reliable non-laboratory verification. An intact holographic-label roll = First Strike. A presentation folder marked “Dated Last Strikes” = Last Strike. A coin found loose without packaging defaults to standard circulation value.
The definitive 2022 quarter authentication test: a standard steel circulation coin (left) is strongly attracted to a magnet; the Fine Silver Proof coin (right) shows no magnetic response. Non-magnetic means silver — worth at least $25 and potentially much more. (Illustration)
💡 Grading Services: ICCS vs PCGS/NGC
ICCS (International Coin Certification Service) is the Canadian standard, using conservative grading and soft flips. PCGS (US/Global) uses hard plastic slabs and typically commands higher resale premiums for “Top Population” (Top Pop) coins in competitive registry sets. For the 2022 quarter, PCGS slabs are generally preferred for high-grade (MS66+) business strikes entered into registry competition, while ICCS is the standard for general certification in the Canadian domestic market. Confirm grading costs before submitting: certification becomes economically worthwhile only when the expected certified value meaningfully exceeds the raw coin value plus submission fees.
2022 Canadian Quarter Value FAQs
What is a 2022 Canadian quarter worth?
A circulated 2022 Canadian quarter is worth face value — $0.25 CAD. In Gem Uncirculated condition (MS-65), values reach $5.00–$8.00. Certified MS-67 examples from First Strike sets trade at $85, and Last Strike MS-67s reach $100. The Fine Silver Proof trades for $25–$35 raw and up to $120 in top Ultra Cameo grades. The 5 oz NCLT “Bigger Picture” (1,300 minted) trades for $600–$800. All values in CAD; data reflects 2024–2025 secondary market estimates.
Is the 2022 Canadian quarter rare?
The standard 2022 quarter is not rare — 91,680,000 were produced for general circulation. However, condition rarity makes high-grade (MS67+) examples genuinely difficult to find, because the MPPS steel surface shows bag marks as bright scratches that disqualify most coins from top grades. Among named variants, the 5 oz NCLT “Bigger Picture” coin (1,300 mintage) is legitimately rare. First Strike sets (5,000 total sets) are limited but not rare by strict numismatic standards.
Is my 2022 quarter silver?
The standard 2022 circulation quarter is not silver — it is nickel-plated steel and is strongly magnetic. Apply a refrigerator magnet: if the coin sticks, it is the common steel issue worth face value to $100+ depending on grade. If it is non-magnetic, you have a silver NCLT or Fine Silver Proof coin, worth a minimum of $25–$35 raw and potentially $600+ for the 5 oz version. You can confirm further by weighing: the steel coin is 4.40 g; the silver proof is 6.00 g.
What makes a 2022 quarter valuable?
Three factors drive premium value: (1) Grade — the MPPS steel surface makes MS66 and MS67 examples scarce; the grade cliff from MS65 ($5–$8) to MS66 ($20–$35) is steep. (2) Provenance — coins from sealed First Strike or Last Strike sets command premiums because fresh-die, careful-handling production gives them the best shot at top grades; without original sealed packaging or certified provenance, this premium vanishes. (3) Composition and finish — the Fine Silver Proof and the 5 oz NCLT operate on entirely different value scales driven by silver content, mintage scarcity, and series collector demand.
What is a “First Strike” 2022 quarter and how do I know if mine is one?
The 2022 Special Wrap Roll Collection: First Strikes (5,000 sets) contained coins struck on the first day of Winnipeg Mint production, with fresh dies and careful handling. The critical point: these coins carry no “W” mint mark or any physical identifier on the coin itself. The only way to know you have a genuine First Strike quarter is if it is still in the original sealed holographic roll, or if a third-party grading service (ICCS or PCGS) has certified the First Strike designation on the slab label. A loose coin cannot be attributed as a First Strike.
What is a “Last Strike” 2022 quarter and should I buy one?
The 2022 Dated Last Strikes Uncirculated Set (40,000 sets) contained the final production coins struck with the Susanna Blunt effigy of Queen Elizabeth II. This appeals strongly to effigy collectors building “final year of monarch” Commonwealth sets. A sealed complete set trades for $35–$50 CAD; a single raw quarter from the set is worth $5–$8. If your goal is long-term historical collectibility, the sealed set is the preferred format — a broken-out raw coin requires third-party certification to retain its Last Strike premium.
Should I get my 2022 quarter graded?
Grading costs (submission fees plus shipping) typically exceed the value of most 2022 quarters. Certification makes economic sense primarily for coins that appear to be MS-66 or better — where certified values begin at $20+ — or for First Strike / Last Strike coins where third-party attestation is the only way to preserve the provenance premium once packaging has been opened. Do not submit circulated or average uncirculated coins; the cost will exceed any realistic return. For pure grade-hunting, PCGS tends to yield higher resale for top-population registry coins; ICCS is the standard for the Canadian domestic market.
Is there a 2022 “Oscar Peterson” quarter?
No. The Oscar Peterson commemorative design in 2022 was applied exclusively to the $1 Loonie. The Celebrating Oscar Peterson Commemorative Collector Keepsake Card did include a 2022 quarter — but it is a standard Caribou design coin with no Peterson imagery. It is worth $2–$5 CAD for its uncirculated condition only. Do not pay a design-rarity premium for this quarter; the collectible value in that keepsake set lies in the colourized Oscar Peterson Loonie.
What is the “2022 Medal of Bravery quarter” and is it valuable?
There is no genuine 2022-dated Medal of Bravery quarter. The RCM's 2022 $20 Fine Silver Coin for the 50th Anniversary of the Medal of Bravery included a bonus 25-cent coin as a promotional incentive — but that bonus quarter was the 2006 Medal of Bravery commemorative quarter, not a 2022 issue. Marketplace listings describing a “2022 Medal of Bravery Quarter” are mislabeled. The 2006 coin has its own value profile unrelated to 2022. Any premium in these packages comes from the 2022 $20 silver piece, not the quarter.
Methodology & Sources
Values in this guide reflect 2024–2025 secondary market estimates for the 2022 Canadian 25-cent coin, drawn from published RCM product pages, publicly available mintage data, dealer pricing records, and secondary market transaction data. The following authoritative sources were consulted:
- Royal Canadian Mint — 25 Cents Official Page (official composition, diameter, and weight specifications)
- RCM — 2022 Special Wrap Roll Collection: First Strikes (mintage 5,000 sets; product details)
- RCM — 2022 Dated Last Strikes Uncirculated Set (mintage 40,000 sets; product details)
- Saskatoon Coin Club — Canadian Circulation Coin Mintage Quantities (comparative annual mintage data including 91,680,000 for 2022)
- Numista — 25 Cents Elizabeth II (Caribou) (specifications reference, including 5 oz NCLT mintage of 1,300)
All prices are in Canadian Dollars (CAD). Individual coins may trade above or below these ranges based on eye appeal, certification tier, and prevailing market conditions. This guide covers standard and collector non-error coins only. ICCS, PCGS, and NGC are independent third-party grading services; their certification may materially affect realized prices. No melt value is calculated for the standard steel issue; silver NCLT valuations reflect collector and spot-price dynamics.
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.