How Much Is A 1962 Canadian Nickel Worth? A Comprehensive Value Guide and Variety Analysis
The 1962 Canadian five-cent piece represents a fascinating year in Canadian numismatics, with values ranging from essential circulation finds to premium specimens worth hundreds of dollars. The Royal Canadian Mint produced over 46 million nickels featuring Queen Elizabeth II on the obverse and the iconic beaver design on the reverse.
For collectors and enthusiasts, the baseline value of a 1962 nickel starts at just 10 cents for circulated specimens in lower grades (AG-3 to F-12). However, the value increases significantly in higher grades, with Very Fine (VF-20) examples commanding 15 cents and Extremely Fine (EF-40) pieces reaching 35 cents. The most dramatic price jumps occur in the mint state grades, where an MS-65 example can fetch $48.40, while an exceptional MS-66 specimen could bring an impressive $437.
One particularly intriguing variety is the 1962 Double Date, which showcases die deterioration doubling. This variety commands a substantial premium, with even circulated examples in VG-8 condition worth $1.00, rising to $7.80 in AU-50 condition. Mint state Double Date specimens are precious, ranging from $15.00 in MS-60 to $345 in MS-65.
The physical specifications of these nickels remain consistent across all varieties. Each piece weighs 4.54 grams and measures 21.21 millimeters in diameter. Composed of pure nickel, these coins exhibit magnetic properties and feature a plain edge. As of October 30, 2024, the melt value stands at 12 cents Canadian, though the numismatic value typically exceeds this baseline.
Collectors should note the various die errors and varieties documented within the series. Notable variations include die cracks, cuds, and interesting anomalies such as the “Bugtail” variety and various die chips. The community has identified numerous specific varieties, including double letters, misaligned dies, and rotated dies, each adding interest and potential value to these pieces.
The coin’s obverse features Mary Gillick’s portrait of Queen Elizabeth II wearing a laurel wreath, accompanied by the inscription “ELIZABETH II DEI GRATIA REGINA.” The reverse, designed by G. E. Kruger-Gray, displays the classic beaver on a log motif with “5 CENTS CANADA 1962” text.
Recent auction data suggests strong market demand for proof-like specimens, with PL-66 examples particularly sought after. Current market listings show proof-like specimens in PL-66 grade commanding prices between $60 and $83, while specialized varieties like the Double 5 CENTS in MS-60 condition have been offered at $94.
The grading condition is crucial in determining value, with certified examples by recognized grading services like ICCS and NGC typically commanding premium prices. Multiple certification holders have appeared in recent market listings, demonstrating the coin’s active trading in the collector market.
Depending on condition and variety, these 1962 nickels represent both an interesting numismatic study and a potentially valuable collectible. From basic circulated examples worth mere cents to premium mint state specimens and rare varieties worth hundreds of dollars, the 1962 Canadian nickel offers collecting opportunities across a broad spectrum of budgets and interests.