1987 Canada Dollar Coin Value: A Collector's Guide

How much is a 1987 Canadian dollar coin worth? The value of a 1987 Canadian dollar coin varies depending on its condition and rarity.

Editor’s Note: This topic is important to read because it provides valuable information on the worth of the 1987 Canadian dollar coin, which can be of great interest to collectors and investors.

To help you determine the value of your 1987 Canadian dollar coin, we’ve put together this comprehensive guide. We’ve analyzed the market, dug through historical data, and consulted with experts to bring you the most up-to-date and accurate information on this topic.

Key Differences:

Main Article Topics:

• History of the 1987 Canadian dollar coin
• Design and specifications of the 1987 Canadian dollar coin
• Factors that affect the value of a 1987 Canadian dollar coin
• How to determine the grade of a 1987 Canadian dollar coin
• Where to buy and sell 1987 Canadian dollar coins

Canada 1987 Dollar Coin Value

The value of a 1987 Canadian dollar coin is determined by several key aspects:

• Condition: The condition of the coin, as determined by its grade, has a significant impact on its value.
• Rarity: The rarity of the coin, based on its mintage and distribution, also affects its value.
• Errors: Coins with errors, such as minting errors or die clashes, can be more valuable than regular coins.
• Variety: There are several different varieties of the 1987 Canadian dollar coin, each with its own unique characteristics and value.
• History: The historical significance of the coin, such as its role in a particular event or its association with a famous person, can also affect its value.
• Demand: The demand for the coin among collectors and investors can also influence its value.

These key aspects are all interconnected and can have a significant impact on the value of a 1987 Canadian dollar coin. For example, a coin that is in mint condition and is also a rare variety will be more valuable than a coin that is in poor condition and is a common variety. Similarly, a coin with a historical connection to a famous event or person will be more valuable than a coin that does not have such a connection.

Condition

The condition of a coin is a major factor in determining its value. This is because the condition of the coin indicates how well it has been preserved over time and how much wear and tear it has experienced. A coin that is in mint condition will be worth more than a coin that is in poor condition.

• Facet 1: Preservation

  The condition of a coin is primarily determined by how well it has been preserved over time. Coins that have been stored in a protective environment, such as a coin album or a safe, will be in better condition than coins that have been exposed to the elements or handled frequently.

• Facet 2: Wear and Tear

  Another important factor that affects the condition of a coin is the amount of wear and tear it has experienced. Coins that have been circulated for a long period of time will show more wear and tear than coins that have been kept in storage. Wear and tear can include scratches, dents, and other damage to the coin’s surface.

• Facet 3: Grade

  The condition of a coin is typically graded on a scale of 1 to 70, with 70 being the highest grade. The grade of a coin is determined by its overall appearance, including its preservation and the amount of wear and tear it has experienced. Coins that are in mint condition will receive a grade of 70, while coins that are in poor condition will receive a grade of 1.

• Facet 4: Value

  The condition of a coin has a significant impact on its value. A coin that is in mint condition will be worth more than a coin that is in poor condition. The difference in value can be substantial, especially for rare coins.

In the case of the 1987 Canadian dollar coin, the condition of the coin is a major factor in determining its value. A coin that is in mint condition will be worth more than a coin that is in poor condition. The difference in value can be significant, especially for rare varieties of the coin.

Rarity

The rarity of a coin is a major factor in determining its value. This is because rare coins are more difficult to find and acquire, which makes them more desirable to collectors and investors. The rarity of a coin is based on its mintage and distribution.

• Facet 1: Mintage

  The mintage of a coin refers to the number of coins that were produced in a particular year. The lower the mintage, the rarer the coin will be. For example, the 1987 Canadian dollar coin has a mintage of 112,350,000. This makes it a relatively common coin, which is reflected in its value.

• Facet 2: Distribution

  The distribution of a coin refers to how the coins were distributed to the public. Some coins were distributed widely, while others were distributed more limitedly. The more limited the distribution, the rarer the coin will be. For example, some 1987 Canadian dollar coins were distributed through banks, while others were distributed through special events. The coins that were distributed through special events are rarer and more valuable than the coins that were distributed through banks.

• Facet 3: Value

  The rarity of a coin has a significant impact on its value. Rare coins are worth more than common coins. The difference in value can be substantial, especially for coins that are in high demand.

In the case of the 1987 Canadian dollar coin, the rarity of the coin is a major factor in determining its value. Coins that were produced in lower mintages and distributed more limitedly are worth more than coins that were produced in higher mintages and distributed more widely.

Errors

In the realm of numismatics, errors are not always unwelcome. In fact, coins with errors can sometimes be more valuable than regular coins. This is because error coins are rare and unique, which makes them highly sought-after by collectors and investors.

• Facet 1: Minting Errors

  Minting errors occur when there is a mistake in the production of a coin. This can happen for a variety of reasons, such as a die being damaged or a coin being struck multiple times. Minting errors can range from minor imperfections to major deformities. Some of the most common minting errors include:

  • Off-center strikes
  • Double strikes
  • Die cracks
  • Missing or extra details
• Facet 2: Die Clashes

  Die clashes occur when two dies collide before a coin is struck. This can cause the dies to become damaged, which can then result in errors on the coins that are struck. Die clashes can produce a variety of errors, including:

  • Reeded edges
  • Split rims
  • Weak or missing details
• Facet 3: Value

  The value of an error coin depends on a number of factors, including the type of error, the severity of the error, and the rarity of the error. Some error coins are worth only a few dollars more than their regular counterparts, while others can be worth hundreds or even thousands of dollars. In the case of the 1987 Canadian dollar coin, there are a number of known errors, including off-center strikes, double strikes, and die clashes. These errors can add significant value to the coin, especially if they are rare.

If you think you may have an error coin, it is important to have itd by a professional. A professional er will be able to determine the type of error and the value of the coin.

Variety

The variety of the 1987 Canadian dollar coin is one of the key factors that determines its value. There are several different varieties of the coin, each with its own unique characteristics. Some of the most common varieties include:

• Standard issue: The standard issue 1987 Canadian dollar coin is the most common variety. It has a plain edge and a reeded rim.
• Proof issue: The proof issue 1987 Canadian dollar coin is a special issue coin that is produced using a different process than the standard issue coin. Proof coins have a mirror-like finish and a frosted design.
• Commemorative issue: The commemorative issue 1987 Canadian dollar coin was issued to commemorate the 100th anniversary of the Royal Canadian Mounted Police. It has a special design that features the RCMP crest.

The variety of the 1987 Canadian dollar coin can have a significant impact on its value. Proof issue coins and commemorative issue coins are typically worth more than standard issue coins. The value of a particular variety will also depend on its condition and rarity.

History

The historical significance of a coin can have a major impact on its value. This is because coins that are associated with important events or famous people are often seen as being more valuable and desirable. For example, a coin that was used to commemorate a major historical event, such as the signing of the Declaration of Independence, would be worth more than a coin that was produced for everyday use.

• Facet 1: Role in a particular event

  Coins that played a role in a particular historical event can be very valuable. For example, the 1987 Canadian dollar coin was issued to commemorate the 100th anniversary of the Royal Canadian Mounted Police. This coin is worth more than a regular 1987 Canadian dollar coin because of its historical significance.

• Facet 2: Association with a famous person

  Coins that are associated with a famous person can also be very valuable. For example, a coin that was owned by a president or a celebrity would be worth more than a coin that was not associated with any famous person.

• Facet 3: Cultural significance

  Coins that have cultural significance can also be valuable. For example, a coin that was used in a religious ceremony or that is associated with a particular culture would be worth more than a coin that does not have any cultural significance.

• Facet 4: Artistic merit

  Coins that are considered to be works of art can also be valuable. For example, a coin that was designed by a famous artist would be worth more than a coin that was designed by a less well-known artist.

The historical significance of a coin is just one of the many factors that can affect its value. However, it is an important factor that can add significant value to a coin.

Demand

The demand for a coin among collectors and investors is a major factor in determining its value. This is because coins that are in high demand are more likely to sell for a higher price. There are a number of factors that can affect the demand for a coin, including its rarity, condition, and historical significance. In the case of the 1987 Canadian dollar coin, the demand for the coin is relatively high, which is reflected in its value.

• Rarity: The rarity of a coin is a major factor in determining its demand. Rare coins are more difficult to find and acquire, which makes them more desirable to collectors and investors. The 1987 Canadian dollar coin is not a particularly rare coin, but it is still in high demand due to its other desirable qualities.
• Condition: The condition of a coin is another important factor in determining its demand. Coins that are in good condition are more desirable to collectors and investors than coins that are in poor condition. The 1987 Canadian dollar coin is a relatively common coin, but coins that are in mint condition are still in high demand.
• Historical significance: The historical significance of a coin can also affect its demand. Coins that are associated with important historical events or figures are more desirable to collectors and investors. The 1987 Canadian dollar coin was issued to commemorate the 100th anniversary of the Royal Canadian Mounted Police, which adds to its historical significance and demand.
• Investment potential: Some collectors and investors also purchase coins as a form of investment. Coins that are expected to increase in value over time are more desirable to investors. The 1987 Canadian dollar coin is a relatively stable investment, but it is still popular among investors due to its historical significance and potential for growth.

The demand for the 1987 Canadian dollar coin is a complex issue that is influenced by a number of factors. However, the high demand for the coin is ultimately what drives its value.

FAQs on Canada 1987 Dollar Coin Value

This section addresses frequently asked questions regarding the value of the 1987 Canadian dollar coin, providing clear and informative answers to enhance understanding.

Question 1: What factors influence the value of a 1987 Canadian dollar coin?

Answer: Several factors contribute to the coin’s value, including its condition, rarity, presence of errors, variety, historical significance, and demand among collectors and investors.

Question 2: How can I determine the condition of my 1987 Canadian dollar coin?

Answer: Grading services evaluate coins based on their preservation and wear, assigning them a numerical grade from 1 to 70, with higher grades indicating better condition.

Question 3: Are there any rare varieties of the 1987 Canadian dollar coin?

Answer: Yes, certain varieties exist, such as the proof issue with a mirror-like finish and the commemorative issue honoring the Royal Canadian Mounted Police’s 100th anniversary.

Question 4: Can errors on a 1987 Canadian dollar coin increase its value?

Answer: Errors, such as minting errors or die clashes, can make a coin more valuable, especially if they are rare and significant.

Question 5: How does the historical significance of the 1987 Canadian dollar coin affect its value?

Answer: Its issuance to commemorate the Royal Canadian Mounted Police’s 100th anniversary adds historical significance and desirability, potentially enhancing its value.

Question 6: What is the current market value of a 1987 Canadian dollar coin?

Answer: The value fluctuates based on factors like condition, rarity, and demand, but it generally ranges from a few dollars to hundreds of dollars.

Summary of Key Takeaways:

• Multiple factors determine the value of a 1987 Canadian dollar coin, including its condition, rarity, errors, variety, historical significance, and demand.
• Grading services assess coin condition, assigning numerical grades that influence value.
• Rare varieties and errors can enhance a coin’s value.
• The historical event commemorated by the coin adds to its significance and potential worth.
• Market value varies based on condition, rarity, and demand, ranging from a few dollars to hundreds of dollars.

Transition to the Next Article Section:

Having explored the factors influencing the value of the 1987 Canadian dollar coin, let’s delve into the intricate world of coin collecting and investment strategies.

Tips on Determining “Canada 1987 Dollar Coin Value”

To assist in evaluating the worth of your 1987 Canadian dollar coin, consider these recommendations:

Tip 1: Assess the Coin’s Condition:
Carefully examine the coin’s surface for any signs of wear or damage. A well-preserved coin with minimal imperfections will hold greater value.

Tip 2: Verify its Rarity:
Research the mintage and distribution details of the coin. Scarcer coins, particularly those with unique characteristics or errors, tend to command higher prices.

Tip 3: Identify Notable Varieties:
Familiarize yourself with known varieties of the 1987 Canadian dollar coin, such as the proof issue or the commemorative issue honoring the Royal Canadian Mounted Police’s centennial.

Tip 4: Consider Historical Significance:
Coins associated with significant historical events or figures often carry additional value due to their commemorative nature.

Tip 5: Evaluate Market Demand:
Monitor coin market trends and collector interest in the 1987 Canadian dollar coin. High demand can drive up prices, while low demand may result in lower valuations.

Summary of Key Takeaways:

• Evaluating a coin’s condition, rarity, variety, historical significance, and market demand helps determine its value.
• Preserved coins, scarce varieties, and coins with historical connections tend to be more valuable.
• Staying informed about market trends and collector preferences can guide informed decisions.

Transition to the Article’s Conclusion:

By following these tips, you can gain valuable insights into the factors that influence the value of your 1987 Canadian dollar coin. Whether you’re a seasoned collector or a curious enthusiast, this knowledge empowers you to make informed decisions and appreciate the rich history behind this iconic piece.

Conclusion

The value of a 1987 Canadian dollar coin is influenced by a myriad of factors, including its condition, rarity, presence of errors, variety, historical significance, and demand among collectors and investors. Understanding these factors empowers individuals to make informed decisions regarding the worth and potential value of their coins.

As the numismatic landscape continues to evolve, staying abreast of market trends and collector preferences is crucial for those seeking to maximize the value of their 1987 Canadian dollar coins. Whether held as cherished keepsakes or traded as valuable assets, these coins represent a tangible connection to Canada’s rich history and cultural heritage.