When it comes to collecting different items as a hobby or profession, there are typically possessions that range in value and availability. Usually, the rarer the object, the more sought after it is and the higher its value. When talking about collecting coins, it is common knowledge that these items number in the hundreds of thousands, perhaps even millions. But, there is a true treasure among Canadian coins. Its name is the 1911 Canadian Silver Dollar and only three specimens were ever made.
Why Is The Canadian Silver Dollar So Special?
There is a number of reasons for that, actually:
- It is the most valuable and publicized Canadian coin to date;
- The 1911 silver pattern dollar was sold at an auction for $1 million in 2003;
- It was dubbed the World’s Most Valuable Coin (Guinness Book of World Records) in 1965 for its price of $55,000;
- Only three specimens were ever made;
- It was nicknamed the “Emperor of Canadian coins.”
A Short History Of The Canadian Silver Dollar
Through the approval of the Dominion of Canada Currency Act of 1910 and after a series of debates, the first Canadian dollar made of 0.925 silver was struck in 1911. Only three specimens were ever made solely as pattern coins: two in silver and one in bronze. In other words, they were not meant to serve as actual coins for circulation, but rather only to evaluate a proposed coin design. In addition to coinage, such prototype production is also typical in technology and other manufacturing industries, including consumer goods. However, the approval process in these other industries if often much more lenient.
After minting, two Canadian silver dollar pieces were sent for approval. However, the then government refused to continue minting these coins for circulation. The argument was that giving an order for such a class of coins was not the intention of the government. Today, they are the only three pieces in existence. One (silver) is owned by a private numismatist, and the other two (silver and bronze) are housed at the National Currency Collection Museum in Ottawa.
Canada: A Treasure Trove Of Valuable Numismatic Items
Minted by the Royal Canadian Mint, the modern proof coins, bullion coins and commemorative coins are to this day famous for their overall eye appeal and innovative designs. It is no secret that Canada is well known for its valuable, rare and antique coins. However, it is also popular for many exquisite modern numismatic items as well. If you’re interested in discovering and exploring more of the history of Canadian coins, be sure to check out Colonial Acres Coins and everything they have to offer.