Yahoo Finance Have Any Canadian $2 Coins? They Could Be Worth Over $27,000
Canada got its first glimpse of European money in the 1660s, when French colonists arrived from across the Atlantic. It took another 150 years for Canada to issue its own banknotes. Today, America’s neighbor to the north has 10 different denominations in banknote and coin form. Some of those are worth a lot of money, but you can also strike it rich if you come across $2 coins that used to be circulated in the Canadian province of Newfoundland and Labrador.
See: Lincoln Pennies With Dime Reverse Sides Are So Rare They’ll Fetch Upwards of $100K
Find: Pocket an Extra $400 a Month With This Simple Hack
Canada’s current paper currency is the Canadian dollar, which is available in 5-, 10-, 20-, 50- and 100-dollar notes, according to the EduCanada website. Canadian coins circulate as the following:
5 cents (nickel).
10 cents (dime).
25 cents (quarter).
CAD $1 (loonie).
CAD $2 (toonie).
The $2 “toonie” coin was first introduced on Feb. 19, 1996, to replace the $2 bill, according to the Royal Canadian Mint. While perhaps not as valuable as some of the coins minted earlier, four examples of a 1996 “beaded” toonie are known to exist. According to CoinValueLookup, one such example (graded PCGS AU55) sold for a total spend of $5,400 CAD in Sept. 2021.
But other $2 Canadian coins have been around a lot longer than that — including $2 Victoria Newfoundland coins that were produced in the late 1800s, when Newfoundland was still a British colony and Queen Victoria ruled the British empire.
Read: 10 Commemorative Coins Worth Over $100 — How To Gauge Their Value
Sponsored: Owe the IRS $10K or more? Schedule a FREE consultation to see if you qualify for tax relief.
Victoria Newfoundland Coins — Worth More Than Gold
Because of their design and rarity, $2 Victoria Newfoundland coins are highly valued by dealers and collectors and can fetch thousands of dollars on the collectibles market.
Here are the most valuable versions, according to the CoinValueLookup website. Keep in mind that the coin’s condition will play a big part in its value. The prices listed below are only for coins in pristine condition.
1872 Newfoundland Victoria Gold, Reeded Edge: This coin has “no major flaws,” according to CoinValueLookup. Fewer than 10 were ever struck. The highest-quality version last sold for $27,025 in 2003 and is likely worth a lot more than that now.
1865 Newfoundland Victoria Gold Specimen: As CoinValueLookup noted, the difference between a mint state and a specimen coin is that the latter features a “beautifully crisp and detailed strike and clear fields.” This particular coin also features “lovely matte finish” on Queen Victoria’s portrait. It was minted in London in 1865 and became the first $2 coin minted for the colony of Newfoundland. There aren’t a lot of these specimen coins around — and those in top condition have sold for nearly $23,000.
1881 Newfoundland Victoria Gold: Versions of this coin minted in 1881 are in short supply, boosting their value on the collectibles market. They feature a “crisp strike” in which “every strand of Victoria’s hair and every leaf of her laurel wreath are clearly delineated.” One version sold for $11,400 in 2019.
More From GOBankingRates
I'm a Bank Teller: Here Are 10 Mistakes You Are Making With Your Banking
Use This Checklist To See Whether Your Bank is Costing You a Lot of Money
This article originally appeared on GOBankingRates.com: Have Any Canadian $2 Coins? They Could Be Worth Over $27,000
