The 1962 Canadian five-cent piece stands as a noteworthy entry in Canadian coinage, with its value spectrum ranging from modest circulation finds to premium-grade specimens. Throughout 1962, the Royal Canadian Mint struck over 46.3 million of these nickel pieces, each bearing the distinguished portrait of Queen Elizabeth II and the quintessential Canadian beaver design.
In today’s market, the fundamental value structure begins modestly. Circulated examples in primary grades from About Good (AG-3) through Fine (F-12) maintain a consistent value of 10 cents. The valuation curve begins its upward trajectory with Very Fine (VF-20) specimens at 15 cents, climbing to 35 cents for pieces in Extremely Fine (EF-40) conditions. The most significant value escalation appears in mint state grades, where MS-65 specimens command $48.40, and exceptional MS-66 examples can realize an impressive $437.
A particularly notable variation exists in the Double Date variety, stemming from die deterioration doubling. This specialized variant carries substantial premiums, beginning at $1.00 for Very Good (VG-8) specimens and ascending to $7.80 for About Uncirculated (AU-50) examples. The mint state spectrum for Double Date specimens starts at $15.00 for MS-60 and peaks at $345 for pristine MS-65 examples.
Technical specifications remain uniform across all variants. Each piece maintains a weight of 4.54 grams and a diameter of 21.21 millimeters. Crafted from pure nickel, these coins have magnetic properties and a smooth edge. The current melt value stands at 12 cents CAD, though collector value typically surpasses this baseline significantly.
The numismatic community has documented numerous die errors and varieties within this issue. Notable variations include multiple die cracks, distinctive cuds, and specialized anomalies like the “Bugtail” variety. Additional documented variations encompass doubled letters, misaligned dies, and rotated die errors, each contributing unique characteristics to the series.
Design elements showcase Mary Gillick’s artistic interpretation of Queen Elizabeth II on the obverse, adorned with a laurel wreath and encircled by “ELIZABETH II DEI GRATIA REGINA.” The reverse, bearing G. E. Kruger-Gray’s artwork, presents the iconic beaver perched on a log, accompanied by the denomination and date.
The recent market activity demonstrates a strong interest in proof-like specimens, particularly those graded PL-66, with current offerings ranging from $60 to $83. Specialized varieties, such as the Double 5 CENTS in MS-60 condition, have appeared at $94, indicating sustained collector interest in distinctive variants.
Certification significantly influences market value, with examples graded by recognized services like ICCS and NGC typically commanding more substantial prices. Current market listings feature multiple certified examples across various grades, reflecting active trading within the collector community.
The diversity of die errors recorded by collectors adds another layer of interest, including various die cracks appearing across different portions of both obverse and reverse designs. Community contributions have helped document numerous variations, from minor die chips to more significant strike anomalies.
Whether considering investment potential or collecting interest, the 1962 Canadian nickel presents opportunities across various price points and condition grades. From affordable circulated examples to premium mint state specimens and scarce varieties, these coins continue to attract attention from novice collectors and seasoned numismatists, with values reflecting both condition rarity and variety significance.