2023 Canadian 10-Cent (Dime) Value Guide: QEII Memorial & King Charles III
What is your 2023 Canadian dime worth? Complete price guide for the QEII Memorial NCLT coin, King Charles III circulation strike, Specimen and Silver Proof variants — with graded CAD market values.
The 2023 Canadian dime exists in two legally distinct varieties — a King Charles III circulation strike and a Queen Elizabeth II Memorial collector issue (never circulated) — plus a rare 99.99% silver proof, each on its own value scale.
- KCIII Circulation (found in change): Face value ($0.10) in circulated grades; raw MS-65 ≈ $2.00–$4.00; certified MS-67 ≈ $75–$100
- QEII Memorial BU (collector sets only — never circulated): Raw set breakout ≈ $1.00–$2.00; certified MS-67 ≈ $80–$120
- Specimen SP-67 (Sage-Grouse Set, 30,000 mintage):$15–$25; certified SP-70 = $150+
- Silver Proof (99.99% silver, 20,000 mintage): Intrinsic melt value ~$2.50–$3.00 CAD plus numismatic premium
Found in change? You have the King Charles III issue — worth face value unless in gem condition. Shiny coin from a set? If it shows a double date "1952 2022" with four pearls, it is the QEII Memorial NCLT issue — never released to banks. Is it silver? Standard 2023 dimes are magnetic Multi-Ply Plated Steel — not silver. Only the Silver Proof (non-magnetic, 2.45 g) contains silver. All values in CAD, based on 2025/2026 market data. See full value chart →
The 2023 Canadian dime marks one of the most consequential transitions in the denomination's history. The passing of Queen Elizabeth II in September 2022 triggered a strategic bifurcation at the Royal Canadian Mint: a commemorative QEII Memorial obverse was reserved exclusively for collector sets, while the new King Charles III effigy — the first King's portrait on Canadian coinage since 1952 — was prepared for circulation, but could only be released in December 2023 after tooling was finalized. The result is a "short year" circulation coin with a dramatically compressed mintage of 43,205,000 and a permanently capped NCLT memorial issue marking the close of the Elizabethan era. For prices across all years of the denomination, see our Canadian Dime Value Guide.
Note: Errors such as off-center strikes exist for this denomination but are outside the scope of this standard value guide.
2023 Canadian Dime Composition & Melt Value
Steel BU (left, 1.75 g, magnetic) versus Silver Proof (right, 2.45 g, non-magnetic) — the weight difference and magnet test instantly distinguish the two 2023 dime compositions. (Illustration — not a photo of your exact coin)
Multi-Ply Plated Steel (MPPS): How the Standard 2023 Dime Is Made
All circulation and Brilliant Uncirculated 2023 dimes use the Royal Canadian Mint's proprietary Multi-Ply Plated Steel (MPPS) technology. The coin is a layered construction — not a homogeneous alloy — consisting of a low-carbon steel core plated first with copper, then with nickel. This layering produces a surface appearance resembling traditional nickel coinage while giving the coin its characteristic electromagnetic signature for vending machine acceptance, as detailed in the Dime (Canadian coin) Wikipedia entry.
This construction has two important consequences for collectors:
- Strongly magnetic: Apply a magnet — if the coin sticks, it is the standard MPPS dime. This is the fastest way to distinguish it from the silver proof variant.
- Grading sensitivity: Steel is harder and less malleable than silver or pure nickel. The plating layers are susceptible to "plating blisters" (also called "spidering") — tiny bubbles or raised lines where the plating separates from the core. These manufacturing imperfections prevent many otherwise appealing coins from reaching MS-66 or higher at third-party grading services such as PCGS and NGC.
ℹ️ Planishing Lines and the Grading Ceiling
Steel planchets often retain microscopic striations from the rolling process that are not fully obliterated by the die strike. On the 2023 King Charles III issue, distinguishing these manufacturing remnants ("planishing lines") from post-mint handling scratches is one of the key challenges for accurate high-grade assessment. A coin exhibiting visible plating blisters is typically capped at MS-65 by PCGS and NGC regardless of other surface quality.
Silver Proof Variant: Composition & Melt Value
The 2023 Silver Proof Set from the Royal Canadian Mint included a 10-cent coin struck in 99.99% pure silver, weighing 2.45 grams — approximately 40% heavier than the steel dime at 1.75 grams. Its silver content gives it an intrinsic metal value of approximately $2.50–$3.00 CAD at prevailing spot silver prices, making it the only 2023 dime with meaningful melt value above face value. Both the magnet test (non-magnetic) and a postal scale (2.45 g versus 1.75 g for steel) provide instant confirmation of composition.
⚠️ Currency Act: Do Not Melt
The Currency Act of Canada prohibits the melting or destruction of Canadian coin of the realm. Melt value figures above are provided for informational reference only as an indicator of intrinsic metal worth, not as guidance for smelting.
Magnet test: the MPPS steel dime clings firmly to a neodymium magnet (top); the 99.99% silver proof coin does not respond (bottom). This is the fastest and most reliable composition authentication step for any 2023 Canadian dime. (Illustration — not a photo of your exact coin)
2023 Canadian Dime Value Chart by Grade & Finish
2023 Canadian Dime — King Charles III Circulation Strike
The King Charles III obverse, designed by Canadian portrait artist Steven Rosati, depicts the King facing left — continuing the numismatic tradition of alternating the monarch's gaze with each reign. The legend reads CHARLES III D·G·REX. With a total mintage of 43,205,000 — confirmed in the RCM Annual Report 2023 — this represents a 58% drop from the 103,400,000 struck in 2022, and less than a quarter of the 185,775,000 minted in 2021. The compressed production window (Winnipeg facility, November–December 2023 only) makes gem-grade examples significantly harder to locate in bank rolls than in typical years. See the Saskatoon Coin Club mintage comparison tables for full historical context.
| Grade | Market Description | Raw Value (CAD) | Certified Value (CAD) |
|---|---|---|---|
| Circulated (VF–AU) | Pocket Change | $0.10 (face value) | — |
| MS-60 to MS-63 | Uncirculated | $0.10–$0.25 | Grading cost exceeds value |
| MS-64 | Choice Uncirculated | $0.50–$1.00 | $10.00–$15.00 |
| MS-65 | Gem Uncirculated | $2.00–$4.00 | $20.00–$30.00 |
| MS-66 | Superb Gem | $10.00–$15.00 | $35.00–$50.00 |
| MS-67 | Ultra Gem | Rare in steel | $75.00–$100.00 |
| MS-68 | Top Pop | Extremely rare | $200+ (auction estimate) |
Steel MPPS coins face a practical grading ceiling: plating blisters and planishing lines inherent to the manufacturing process make MS-67 and MS-68 genuinely scarce. "First Strikes" Special Wrap Rolls (15,000 rolls, approx. $18.95–$24.95 CAD per roll) support an NGC/PCGS "First Releases" or "First Strikes" label designation on certified coins — see Notable Variants for details.
Grade comparison for the 2023 KCIII dime: MS-64 (left, minor bag marks visible in fields and on devices) versus MS-67 (right, pristine fully struck surfaces). The certified value difference between these two grades can exceed $60. (Illustration — not a photo of your exact coin)
2023 Canadian Dime — Queen Elizabeth II Memorial (BU, NCLT)
The QEII Memorial 10-cent coin features the Susanna Blunt uncrowned portrait of Queen Elizabeth II, distinguished by the double date "1952 2022" with four pearls to the left of the effigy. It was distributed exclusively through Royal Canadian Mint collector products and was never sent to banks or financial institutions. Its total steel BU population is estimated at approximately 500,000–600,000 pieces across all source products: the Classic Uncirculated Coin Set (SKU 246276, 50,000 sets), the Special Wrap Roll Collection (7,000 sets × 50 coins = 350,000 coins), and various Oh Canada! Gift Sets (~100,000 combined). The tooling for this obverse is permanently retired, fixing the supply. For catalogue reference, see Numista's 2023 QEII 10-cent entry.
| Grade | Description | Raw Value (CAD) | Certified Value (CAD) |
|---|---|---|---|
| MS-64 | Set Breakout | $1.00–$2.00 | — |
| MS-65 | Gem | $3.00–$5.00 | $20.00–$30.00 |
| MS-66 | Superb Gem | $10.00–$15.00 | $40.00–$55.00 |
| MS-67 | Ultra Gem | $30.00–$50.00 | $80.00–$120.00 |
Because nearly all of the mintage was immediately collected upon release, lower grades (MS-64) are common among set breakouts and trade near base collector value. High preservation rates concentrate competition at MS-67 and above. A typical carefully handled set coin grades MS-65. Special Wrap Rolls (50 coins each) trade for approximately $30–$50 CAD per roll.
ℹ️ The "Four Pearls" Double-Date Identifier
The fastest way to confirm you hold the QEII Memorial issue: look to the left of the portrait for the double date "1952 2022" separated by four pearls. Each pearl represents one of the four Elizabeth II effigies on Canadian coinage (Gillick 1953, Machin 1965, de Pédery-Hunt 1990, Blunt 2003). No double date = King Charles III circulation coin.
2023 Canadian Dime — Specimen (SP) Finish
Struck exclusively for the Greater Sage-Grouse 6-Coin Specimen Set (RCM SKU 206339), the Specimen dime carries the QEII Memorial obverse with a mintage of 30,000 — the lowest mintage of any 2023 steel dime finish and the single rarest distinct die/finish combination for the steel issues. Specimen coins are struck twice at reduced speed using specially prepared dies, producing striated (lined) matte fields and brilliant frosted devices with sharper overall detail than BU issues. An SP-70 grade is theoretically achievable and highly coveted for Registry Set competition.
| Grade | Description | Value (CAD) |
|---|---|---|
| SP-67 | Near-Gem Specimen | $15.00–$25.00 |
| SP-69 | Ultra-High Grade | $40.00–$60.00 |
| SP-70 | Flawless Specimen | $150+ (certified) |
2023 Canadian Dime — Silver Proof (PR)
The 2023 RCM Silver Proof Set contained a 10-cent coin struck in 99.99% pure silver with a Deep Cameo Proof finish — deep mirror fields with heavy device frosting. With a mintage of 20,000, this is the lowest-mintage 2023 dime variant by total pieces. Its silver content provides an intrinsic melt floor of approximately $2.50–$3.00 CAD at prevailing spot silver. Specific per-grade certified values for this variant are not available in current market data; prospective buyers should consult the Numista catalogue entry for the 2023 King Charles III dime and current dealer listings for the most up-to-date pricing. This coin is non-magnetic and weighs 2.45 g — both properties provide instant identification.
Values in CAD represent typical market prices based on 2025/2026 market data. For the complete denomination price guide, see our Canadian Dime Value Guide.
Most Valuable 2023 Canadian Dime Varieties
The Charlton Standard Catalogue (78th Edition) reports no major die varieties such as Doubled Dies for the 2023 10-cent coin. Value distinctions are driven entirely by obverse type, finish, and packaging provenance. Three collector-significant variants are documented.
Close-up of the QEII Memorial obverse showing the "1952 2022" double date with four pearls. Each pearl symbolizes one of Elizabeth II's four distinct portraits on Canadian coinage. This detail is the single fastest visual confirmation that you hold the NCLT collector issue and not a circulation coin. (Illustration — not a photo of your exact coin)
1. QEII "Four Pearls" Memorial Obverse (NCLT Collector Issue)
What it is: A 2023-dated dime bearing the Susanna Blunt uncrowned portrait of Queen Elizabeth II, with the double date "1952 2022" flanked by four pearls to the left of the effigy. Distributed exclusively through RCM collector sets; never issued for circulation. The tooling for this obverse is permanently retired.
Why it matters: Total steel BU population is estimated at approximately 500,000–600,000 pieces — a permanently fixed supply with growing historical significance as the definitive final tribute to Elizabeth II on Canadian 10-cent coinage. The Specimen version (30,000 mintage from the Sage-Grouse Set) provides the rarest version of this obverse in a distinct finish.
Source products:
- Classic Uncirculated Coin Set (SKU 246276): 50,000 sets
- Special Wrap Roll Collection (SKU 206950): 7,000 sets (50 coins each = 350,000 coins total)
- Oh Canada! Gift Sets (Birthday, Baby, O Canada — various SKUs): ~100,000 combined
- Greater Sage-Grouse Specimen Set (SKU 206339): 30,000 (Specimen finish)
Value highlights:
- BU MS-67 certified: $80–$120 CAD
- SP SP-70 Specimen certified: $150+ CAD
- Special Wrap Roll (50 coins): $30–$50 CAD per roll
2. King Charles III "First Strikes" Special Wrap Rolls (Label Variant)
What it is: The RCM produced 15,000 rolls of King Charles III dimes in premium branding retailing for approximately $18.95–$24.95 CAD per roll. The coins inside are physically identical to any other 2023 KCIII circulation dime struck at the Winnipeg facility. The premium derives from the packaging provenance and the "First Releases" or "First Strikes" label designations available from NGC and PCGS when coins are submitted in the original sealed roll. CBC News covered the unveiling of the first KCIII coins struck at Winnipeg in late 2023.
Collector note: For Registry Set competitors, the label designation can approximately double the market value of a certified coin relative to the same grade without it. For the pure numismatist, the coin is physically unchanged.
3. Silver Proof (99.99% Silver, Deep Cameo Proof Finish)
What it is: The 10-cent coin from the 2023 RCM Silver Proof Set — struck in 99.99% pure silver (2.45 g) with Deep Cameo Proof finish featuring deep mirror fields and heavy device frosting. Non-magnetic. Mintage: 20,000. This is the only 2023 dime for which the metal content provides a meaningful intrinsic floor, with a melt value of approximately $2.50–$3.00 CAD at current spot silver.
Instant authentication: The combination of a non-magnetic response and a weight of approximately 2.45 g (versus 1.75 g for all steel issues) provides unambiguous identification without any specialized tools.
2023 Canadian Dime Identification Guide
Use this 30-second checklist to determine exactly which 2023 dime variety you hold before consulting the value tables above.
Left: 2023 QEII Memorial obverse — Susanna Blunt portrait, Queen facing right, "1952 2022" double date with four pearls visible to the left of the effigy. Right: 2023 King Charles III obverse — Steven Rosati portrait, King facing left, legend "CHARLES III D·G·REX," artist initials "SR" near the shoulder truncation. (Illustration — not a photo of your exact coin)
Step 1 — Monarch Check (Obverse)
- Portrait facing RIGHT, no crown, double date "1952 2022" with four pearls: You have the QEII Memorial NCLT issue (Susanna Blunt portrait). This coin was never circulated and came only from RCM collector sets. Refer to the official RCM blog post on 2023 obverses for the full design explanation.
- Portrait facing LEFT, no crown, legend "CHARLES III D·G·REX," initials "SR" near shoulder: You have the King Charles III circulation coin (Steven Rosati portrait). This is the standard issue released in December 2023 per Order SOR/2023-231 in the Canada Gazette.
Step 2 — Reverse Check
The 2023 Canadian dime reverse: Emanuel Hahn's Bluenose schooner design, identical for all 2023 varieties. "10 CENTS" and "2023" appear below the ship; "CANADA" appears above. (Illustration — not a photo of your exact coin)
The reverse is identical for all 2023 dime varieties: the classic Bluenose schooner designed by Emanuel Hahn. Confirm "10 CENTS" and the date "2023" appear below the ship, and "CANADA" above. The reverse is not a differentiating factor between 2023 varieties.
Step 3 — Edge Check
Run a fingernail along the edge. The 2023 dime has a reeded (milled) edge. A smooth edge would indicate the wrong denomination or a counterfeit.
Step 4 — Magnet Test (Composition Verification — Critical Step)
Apply a neodymium magnet or a standard refrigerator magnet to the coin:
- Coin sticks to the magnet: Multi-Ply Plated Steel. This applies to all KCIII circulation coins, all QEII Memorial BU coins, and all QEII Memorial Specimen coins.
- Coin does not respond: You have the 99.99% silver proof from the 2023 Silver Proof Set. Confirm by weighing — it should measure approximately 2.45 g versus 1.75 g for all steel issues.
Step 5 — No Documented Mint Marks
No mint marks are present on any 2023 dime variety. The King Charles III circulation coins were struck at the Winnipeg facility but do not carry a "W" mark on the coin face — this is standard for Canadian circulation coinage of this era. No mark identification is required to distinguish 2023 varieties.
Step 6 — Finish Identification (The Critical Step)
Finish comparison: Brilliant Uncirculated BU (left, strong cartwheel luster across fields) versus Specimen SP (right, striated lined matte fields with brilliant frosted portrait and ship relief). The SP finish is immediately recognizable by the distinctive lined field texture under a direct light source. (Illustration — not a photo of your exact coin)
- Brilliant Uncirculated (BU): Strong cartwheel luster when rotated under light. Comes from sealed RCM collector sets (Classic Uncirculated, Gift Sets, Special Wrap Rolls). Both KCIII and QEII Memorial varieties have BU examples.
- Specimen (SP): Striated (lined) matte fields with brilliant frosted devices and portrait. Sharper overall strike detail due to double-strike production at reduced speed. Comes exclusively from the Greater Sage-Grouse Specimen Set — QEII Memorial obverse only, 30,000 mintage.
- Proof (PR/PF): Deep mirror fields with heavy device frosting (Deep Cameo effect). Non-magnetic. 99.99% silver composition only. From the 2023 RCM Silver Proof Set.
⚠️ Never Clean Your Coins
Cleaning a coin — even with a soft cloth — strips original luster and leaves hairlines visible under magnification. A cleaned coin is designated "Details" (damaged) by ICCS, PCGS, and NGC, losing all numismatic premium above metal value regardless of how sharp the underlying detail appears.
⚠️ Storage Warning for MPPS Steel Coins
Multi-Ply Plated Steel coins are susceptible to rust if the plating is compromised, even microscopically. Store 2023 dimes in low-humidity environments. Avoid PVC holders, which can react with the copper and nickel plating. Use Mylar flips or hard capsules. Avoid storage near strong magnets, which can attract ferrous particles to the coin surface and cause spotting.
2023 Canadian Dime Value FAQs
What is a 2023 Canadian dime worth?
It depends on which variety you hold. A circulated King Charles III dime is worth face value ($0.10 CAD). In gem condition (MS-65), the same coin is worth approximately $2.00–$4.00 raw or $20.00–$30.00 certified. The QEII Memorial BU collector issue starts at $1.00–$2.00 as a raw set breakout, rising to $80–$120 in a certified MS-67. The Specimen from the Sage-Grouse Set reaches $150+ in a certified SP-70. All values are in CAD.
What is the QEII Memorial 2023 dime and why was it never circulated?
When Queen Elizabeth II passed in September 2022, the Royal Canadian Mint made a deliberate decision not to strike 2023-dated circulation coins with her portrait. The Susanna Blunt effigy was used exclusively in collector sets, making any 2023-dated dime bearing the Queen's portrait a Non-Circulation Legal Tender (NCLT) issue with a capped and permanently fixed supply. The Canadian Coin News coverage of the RCM's 2023 product launch and the official RCM blog post on 2023 obverses both document this strategic decision.
What do the four pearls on the 2023 QEII Memorial dime represent?
The four pearls separate the double date "1952 2022" on the QEII Memorial obverse. Each pearl represents one of the four distinct effigies of Queen Elizabeth II that appeared on Canadian coinage during her 70-year reign: the 1953 Gillick portrait, the 1965 Machin portrait, the 1990 de Pédery-Hunt portrait, and the 2003 Blunt portrait. This design element makes the memorial coin instantly distinguishable from any standard circulation dime.
Is my 2023 Canadian dime made of silver?
Almost certainly not. The standard 2023 dime — both the KCIII circulation coin and the QEII Memorial BU and Specimen variants — is Multi-Ply Plated Steel (MPPS): 92% steel core with copper and nickel plating. It is strongly magnetic. The only 2023 dime with silver content is the 99.99% pure silver proof from the RCM Silver Proof Set (non-magnetic, 2.45 g, 20,000 mintage). A simple magnet test resolves the question in seconds: if it sticks, it is steel.
Which 2023 dime variety is the rarest and most valuable?
By absolute mintage, the Silver Proof is rarest at 20,000 pieces, though specific certified grade values are not currently available in market data. Among steel issues, the Specimen (SP) from the Sage-Grouse Set is rarest at 30,000 mintage — it commands $150+ in a certified SP-70. By condition, the KCIII MS-68 is the rarest grade, with an auction estimate of $200+ for a certified example.
What are "First Strikes" or "First Releases" designations on 2023 dimes and are they worth the premium?
These are label designations offered by NGC and PCGS when a coin is submitted in its original sealed "First Strikes" Special Wrap Roll packaging from the RCM (15,000 rolls produced, retailing for approximately $18.95–$24.95 CAD per roll). The coin inside is physically identical to any other 2023 KCIII dime struck at the same time. The premium is derived from packaging provenance and the label, not from any physical difference in the coin. For Registry Set competitors targeting a specific label designation, the premium can be significant. For the pure numismatist focused on the coin itself, the designation is secondary.
Should I get my 2023 Canadian dime graded by ICCS, PCGS, or NGC?
Grading is economically justified only when the certified value meaningfully exceeds the total grading cost. For the KCIII circulation coin, grading becomes viable at MS-65 and above, where certified values begin at $20–$30. For the QEII Memorial BU, MS-66 and above — certified at $40–$120+ — may justify submission. The Specimen (30,000 mintage, Registry Set demand) presents the strongest grading case. ICCS is the Canadian standard for domestic buyers; PCGS and NGC are preferred for the international market and Registry Set competition.
What is the difference between a Specimen (SP) and a Brilliant Uncirculated (BU) finish?
Both finishes are produced for collector markets, but via different manufacturing processes. A Brilliant Uncirculated (BU) coin is struck once at standard press speed using polished dies, producing strong cartwheel luster. A Specimen (SP) coin is struck twice at reduced press speed using specially prepared dies with striated (lined) field backgrounds, yielding sharper device detail, matte fields, and brilliant frosted relief. For the 2023 QEII Memorial 10-cent, the Specimen version has only 30,000 mintage versus an estimated 500,000–600,000 for the BU issues — a population difference that directly explains the significant value premium at equivalent grades.
Methodology & Sources
Values in this guide are based on 2025/2026 market data as compiled in the source document. Primary references include:
- Royal Canadian Mint Annual Report 2023 — official mintage data (43,205,000 KCIII circulation dimes confirmed).
- Order SOR/2023-231, Canada Gazette — legal authorization for the King Charles III circulation coinage.
- CBC News — First batch of KCIII coins unveiled — production timing and Winnipeg facility context.
- RCM Official Blog — Understanding 2023 Obverses — designer attribution, QEII/KCIII transition rationale, and Four Pearls symbolism.
- RCM — Official 10-Cent Coin Page.
- RCM — Greater Sage-Grouse Specimen Set (SKU 206339) — 30,000 mintage confirmed.
- RCM — Classic Uncirculated Coin Set 2023 (SKU 246276) — 50,000 mintage confirmed.
- Numista — 2023 Canadian 10 Cents (QEII Memorial).
- Numista — 2023 Canadian 10 Cents (King Charles III).
- Wikipedia — Dime (Canadian coin) — MPPS composition and historical series context.
- Canadian Coin News — RCM Opens 2023 With Annual Issues.
- Saskatoon Coin Club — Canadian Circulation Coin Mintage Quantities — comparative 2021–2022 mintage context.
- Charlton Standard Catalogue of Canadian Coins, 78th Edition — no major die errors reported for the 2023 10-cent coin.
Values represent current market estimates and may vary by region, seller, and prevailing conditions. Consult ICCS, PCGS, or NGC population reports and current dealer listings before making purchase or sale decisions.
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.