1987 Canadian One Dollar Coin Value Guide

The 1987 Canadian One Dollar coin marks the historic debut of the 'Loonie,' a pivotal release that replaced the traditional one-dollar banknote to increase currency longevity. This inaugural issue is highly collectible as the first eleven-sided coin in Canadian history, featuring the iconic common loon floating on water.

What Is 1987 Canadian One Dollar Coin Worth?

The typical price range for 1987 Canadian One Dollar Coin is $15 - $25 based on recent sales. However, values can vary depending on the item's condition, rarity, and other factors such as:

• Condition and grade are paramount, with uncirculated specimens fetching the top end of the $15-$25 range.
• The presence of original mint luster significantly increases the appeal to numismatic collectors.
• Surface marks, scratches, or wear on the high points of the loon's feathers or the Queen's portrait will lower the market value.
• As the first year of issue, 'first-day' sets or coins in original Royal Canadian Mint packaging carry a premium.

How to Identify 1987 Canadian One Dollar Coin?

• Verify the 1987 date located on the reverse side directly below the loon image.
• Check for the distinctive eleven-sided (hendecagonal) shape and the golden color from the aureate bronze plating.
• Confirm the obverse features the Arnold Machin effigy of Queen Elizabeth II with the inscription 'ELIZABETH II D.G. REGINA'.
• Ensure the material is nickel electroplated with aureate bronze, giving it a specific weight and metallic ring.

History of 1987 Canadian One Dollar Coin

The 1987 Canadian one-dollar coin is significant as it was the first year of issue for the 'Loonie', replacing the Canadian dollar banknote. It was introduced to save the government money, as coins last much longer than paper currency. Its distinctive eleven-sided shape and the iconic loon design quickly made it a beloved and recognizable symbol of Canada.