1962 Canadian Nickel Value Guide

The 1962 Canadian Nickel is a significant numismatic piece marking the final year the Royal Canadian Mint produced the five-cent coin with a 12-sided edge. This distinctive shape, originally introduced in 1942 to prevent confusion with pennies in low light, makes it a favorite among collectors of mid-century Canadian currency.

What Is 1962 Canadian Nickel Worth?

The typical price range for 1962 Canadian Nickel is $1 - $2 based on recent sales. However, values can vary depending on the item's condition, rarity, and other factors such as:

• Coin grade and preservation, with uncirculated specimens fetching the higher end of the $1.00-$2.00 range.
• Luster and strike quality, specifically looking for sharp details on the beaver's fur and the log.
• Presence of 'die clashes' or mint errors, which can occasionally increase value beyond standard circulation prices.
• Surface marks or heavy wear from its time in circulation, which typically keeps values closer to the $1.00 minimum.

How to Identify 1962 Canadian Nickel?

• Verify the 12-sided (dodecagonal) edge shape, which was discontinued after this 1962 issue.
• Look for the G.E. Kruger Gray beaver motif on the reverse and the Elizabeth II laureate portrait on the obverse.
• Check for the '99.9% nickel' composition, which gives the coin a distinct magnetic property and silver-grey luster.
• Confirm the date '1962' is clearly struck at the bottom of the reverse side below the beaver.

History of 1962 Canadian Nickel

The beaver motif was designed by G.E. Kruger Gray and first appeared on the Canadian nickel in 1937. During this era, the coin was struck with a 12-sided edge, a shape introduced in 1942 to help people distinguish it from the penny during wartime metal shortages and low lighting. This specific 1962 issue was the final year that the nickel was composed of 99.9% nickel before the Royal Canadian Mint transitioned the shape back to round in 1963.