CANADIAN SILVER DOLLARS
Dollars
of the Second Series (1945 - 1949)
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1945
Dollar |
Chromium plated and highly polished dies being now employed, the dollars of this series have lustre and brilliance entirely wanting in those of the first. Resumption of the dollar coinage would appear to have met with no particular enthusiasm inasmuch as only 38,391 were minted in this year. Getting specimens that are in flawless condition is a thing not too easily accomplished and its low number can only mean that it will become increasingly difficult.
Lack
of demand for the coin is evidenced in the fact the
Dollars
of this year rank thirteenth in the series with a millesimal fineness of 799.44
and are eclipsed by the dimes, the coin which very generally holds second place.
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1946 Dollar |
An increase of interest is evident with the mintage of 93,055 for 1946. All provinces except Prince Edward Island requested the dollars. To be duly noted is the fact that the mintage of this year very closely approximates that of 1938. The only large factor in the catalogue price difference lies in the 1938 being earlier in point of time and consequently with a smaller number available. Were it not for this, the two coins would theoretically sell at almost exactly the same rate. No unusual features of background are associated with this coin.
Its millesimal fineness of 799.76 puts it on a parity with the dollar of 1937 and gives it a ranking of ninth. But whereas the 1937 had last place in its year, the 1946 managed to rate first.
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1947 Blunt 7 |
With this particular dollar, a major variant, we arrive at something different and somewhat on the controversial side. It is out of the question for anyone to give anything like an exact figure as to the precise number of these coins. Nobody is fond of guesses, not even of good ones, and yet we are now and then forced to resort to them for want of anything better. About the only factor that has any reliability is a possible number reflected by the market price.
For some period of time the Blunt Seven sold at a price that was about one-fifth of the Pointed Seven. Accepting this situation at its full value would mean a 4 to 1 ratio between the Blunt and Pointed Seven. Such a ratio would make the Blunts 52,476 in number, a figure which seems rather high, hut which might not be too far wide of the mark. Anybody who can make a better guess is welcome to the task. I can only say that it is not as unreasonable as it appears. Further, I am not making an estimate based purely upon the market price, a point which I shall take up in connection with the Pointed Seven.
For
some unaccountable reason, demand for the 1947 dollars fell off sharply. Calgary,
St. John,
Millesimal
fineness of 1947 dollars is 799.99 which gives them top place for coins of that
year and a ranking of fifth in the dollar series. Maple Leafs would naturally be
given the same rating.
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1947
Pointed 7 |
To
be taken into consideration is the fact that it was some time before the
scarcity of the Pointed Seven was realized. Without a known figure to represent
it, much was left to the imagination. On the other hand, both the 1948 and the
Maple Leaf had known figures and collectors tended to concentrate on them and to
leave the Pointed Seven until a later time.
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1947 Maple Leaf |
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1947 50c Maple Leaf curved 7 |
All
Maple Leafs are good coins to have, for even the 50 cent piece has the low
figure of 38,433. The dollar is the second in rarity (numerically minted) of
the key coins and is the least difficult of the three. Nevertheless, the
difference is so small as to mean little or nothing and it is practically on a
parity with the Pointed Seven and the 1948.
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1948
Dollar |
All 1948 denominations, especially the dollar, are eagerly sought by collectors, and this coin is in some ways the prima donna of the series. And here again we have a split mintage, clearly indicated in the 1948 Report, hut not so well indicated in the one of 1949. The split mintage came about because the Mint was rushed for time and found it necessary to put out the remaining coins in the following year. In any event, 8,080-1948 dollars were struck in the year given and the remainder of 10,700 was struck in 1949. The total of 18,780 is indeed very small and it is rather strange that these dollars did not attract attention sooner than they did.
The reading of one Mint Report is in some cases not sufficient. For example, very early in my dollar collecting career, I was informed by a prominent dealer that there had been a mistake in the 1948 figure; that it was 8,800 and with the natural result that it created a great scarcity of the dollars. It is easy enough to see how the error was made, and even though an honest one, it was still embarrassing for I so reported it and was later made to feel very foolish. Unluckily, I had only a few copies of Mint Reports at the time the incident occurred.
Really beautiful 1948 dollars are not easy to obtain although in their very early history they could now and then be found in circulation. Jack Griffin. an Ontario collector, tells about a Canadian lad who went to work in a bank and kept a sharp lookout for all dollars. Quite probably to his amazement, almost the first dollar that came in was a 1948. However, you may be sure that it did not happen again and it is something of a wonder that it ever happened at all.
Long
past is the day when you can pick up any of the more difficult Canadian dollars
in a bank. "ET.
No
dollars of this year were requested by
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1949 Dollar |
Let
us first consider some of the history. John Cabot (Giovanni Caboto) was
originally a native of
One
thing of decided interest to us in this affair centres about the reward that
John Cabot received. Henry VII made an entry in his account book which reads as
follows: To him that found the new land, 10 pounds. Of all monarchs, Henry VII
was surely one of the most miserly. What Cabot thought of his reward is left to
the imagination but one thing is certain: that the "new found land"
eventually became
Not
too frequently remembered is the fact that
Specifically,
the coin commemorates the beginning of a new phase of
With
regard to rank in the number minted (672,974) the
An
unique provision was made for the
It was designed by Thomas Shingle and his initials appear on the right hand side. At the time he executed this fine piece of work he was Chief Engraver of the Royal Canadian Mint, a post which he accepted in 1939 and which he held for more than 10 years. He is further remembered in Canadian coinage for the Victory nickel and for the reverse of the 1959 fifty cent piece. His splendid work on the dollar of Newfoundland is a lasting memorial to his ability and will remain to honor him long after he is dead.
Under ordinary circumstances, and in practically all cases, a pantograph is used to cut the steel master die. However, Thomas Shingle cut the design by hand directly in the steel and he is one of the few men living today who is capable of doing such a thing. Needless to say, it was an extremely arduous task and the doing of this sort of thing is becoming a lost art. The Mint had no pantograph at the time the coin was designed.
Depicted on the dollar is the ship "Matthew" and under it the Latin inscription, "Floreat Terra Nova". Although the Mint Report translates this, "May Newfoundland Flourish", I do not agree. It is more correctly translated, May The New Land Flourish. The word "found" is certainly not part of the inscription. In connection with this matter, however, it is well to remember that Latin frequently permits more than one interpretation. Unlike English, it is far from being a windy language, no articles being used, and a very few words can say a great deal.
Another thing of unusual interest about the coin is to be noted in the use of reverse and obverse dies. In practically all instances it will be found that the Mint concentrates on obverses and lets the reverses more or less take care of themselves. Such is far from being the situation in this case. As compared to the obverses, almost twice as many reverses were employed, the number of the first being 48 and the latter 94 Further, the number of pieces per pair of dies is only 8,894 and this is an extremely low figure.
Since
the reverse had a wealth of fine detail it was considered foolish to take any
chances on so fine a coin and no chances were taken. Reverses were changed
frequently enough to make excellent results absolutely certain. It must be
admitted that the Mint succeeded brilliantly. It is my belief that there is no
such thing as a poorly struck
Because
of its fairly high number, it has had a certain amount of circulation. In June
of 1959 I had particular need for a
Although
at one time I considered otherwise, I am now aware that Newfoundland
was probably unable to put in an official request for her particular coin.
Things may change in the future, but at this time
In
the beginning at least,
For
one thing, a surprising number of
Millesimal fineness of the dollar is 800.26 which gives it third place in the series. It may be observed at this point that only three dollars have so far topped the 800 standard. And in a total of 19 issues, the dollars have headed the list 13 times.
With 1949 the Mint Report of the year includes the "sundry persons" item for the first time in listing the distribution of coins. The item is important because it shows the growing interest in Canadian coinage and because for the first time people were buying coins directly from the Mint. We may safely assume that the $4,340.00 listed under this head went almost entirely toward the purchase of dollars.
If
it seems that I have spent a good deal of time on this dollar, and certainly I
have, then it has only been because I think it deserving of more than usual
attention. A small number of collectors interest themselves in ship design
coins, the writer being one of them, and the
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1950 Dollar |
Except for one thing, this particular Voyageur has nothing of note about it. But it does represent the beginning of the variants and they will he discussed as a group. For one thing, the dollar of this year was overshadowed by the nickel commemorative designed by Stephen Trenka and a good deal of the Mint Report is devoted to this coin.
In
point of millesimal fineness it is exactly 800 and ranks fourth in the series
with the 1939. Further, it is the last coin to have this rating since all the
others are slightly below it in this respect. It was requested by all provinces
except Prince Edward Island
and
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1951 Dollar |
Millesimal
fineness of the dollar is 799.88 which rates it above the other coins of the
year. It has exactly the same fineness as the 1952 dollar and ranks eighth in
the series. The sundry persons item shows a decided increase by going to 9,323,
a figure which is better than that of the previous year.
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1952 Dollar Water Lines |
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No Waterlines Enlarged — No Waterlines |
We are assured that the lines were by accident polished out of existence and there is no reason to doubt this. It is a certain thing that the Mint never intends to put out anything except perfect coins; that is, as far as it is possible to do so. Overlooking the minor variants is a thing easy enough to understand, but it is not so easy in this instance. It would surely seem that the inspection service would notice the lack of lines almost immediately. If so, then the lack of proper water lines was ignored.
If the market price has any meaning, and certainly it has some, then approximately 1/4 of the 1952 dollars have no water lines and this would make 102,210 of them. Those which have no water lines have a catalogue value of slightly more than three times those which do.
Let us now consider another factor. In striking the coinage, 58 reverses were employed and the average per pair of dies is given as 5,971. If we consider 14 reverses, or about 1/4 of 58 as being used, and multiply the average and reverses, we then come up with the figure of 93,591, and this is very nearly the figure which-is required. According to this, something like 14 or 15 dies had their water lines polished out. It will be remembered by collectors of this series that it was some little time before there was any marked difference in price between the two varieties. Had there been a very great number disparity, then it must be obvious that it would have been noticed in fairly short order.
As
noted before, one reverse could only account for 5,971 coins, and it is
impossible to suppose that a single reverse could be used for around 100,000
dollars. The reader is perfectly free to reject all of my reasoning on this
point. I am not wholly satisfied with the submitted figure, but it is the hest
that I am able to do. The "of both kinds" figure leaves much to the
imagination.
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1953 Dollar |
Mary Gillick executed the laureated figure of the Queen and few indeed will deny that she did beautiful work. Mrs. Gillick has studied Greek and Roman coins and their influence is evident in a likeness which is assuredly classical in nature. Most remarkable is the fact that she was seventy-two at the time she did this fine piece of work and it was her first venture of the kind. She also informs me that it will be her last, I was naturally sorry to hear this. However, I submit that the obverse which she executed will stand comparison with the finest done by other English artists and I think my enthusiasm for it is shared by many others.
Not
without difficulty was the new obverse finally brought to the desired degree of
perfection. The first dies were slightly higher in relief than the 1952 dies of
King George VI and small technical imperfections appeared in the reduction punch
that were not apparent in the large plaster model. As a result of this, coins
struck from the first dies suffered materially in reproduction and gave rise to
great difficulties from the mechanical point of view. To correct the die, it
proved necessary for the Mint Engraver to lower the relief to 3/4 and strengthen
the weaker parts of the design by hand on the intermediate steel reduction. This
being finally accomplished, it was then possible to produce well executed coins.
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|
with shoulder strap | without shoulder strap |
1953 Dollar — Enlarged |
As a result of the trouble which was experienced, the only obverse dollar variant came into existence. Dollars struck from the first dies shows Her Majesty without any shoulder straps and her hair detail is not shown as it should be. And there are also transition coins between the very first and the later executed dollars.
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|
Wire edge | Flat edge |
1953 Dollar |
Millesimal fineness of the 1953 is 799.98 which gives it first place in coins of the year and sixth in the series. The 1936 dollar has the same fineness. As might be expected with a coin of the Coronation year, interest went up considerably. For example, the sundry persons item went to the figure of 22,715. Beyond doubt, many of the people represented in the figure given made purchases of sets and single dollars to mark the year. This seems proved by the fact that 1954 shows a falling off, which is quite to be expected.
One
small puzzle is the fact that P.E.I. made no request for the 1953 dollars while
all the other provinces did. I finally reached the conclusion, after giving the
matter some thought, that she did make a belated request. Why? Because the 1954
Report indicates 4,000 as going to Charlottetown, the only time this has happened so far. Although I cannot very well prove it,
it is nevertheless my belief that the coins which went there were 1953 dollars.
This would easily be possible because the Mint always has a small carryover of
coins which would make a thing like this simple enough. Moreover, this small
number could readily be struck if occasion required. It is impossible to
convince me that a sudden strange interest would be shown in the dollars of 1954
to the detriment of those put out in the year that Her Majesty was crowned.
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1954 Dollar |
With regard to millesimal fineness, the dollar of this year ranks eleventh in the series with 799.63 although it topped its sister coins of the same year by ranking first.
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1955 Dollar - Normal |
Another
striking similarity is shown in a millesimal fineness which makes them nearly
identical. There is a difference of only one point since the 1955 is 799.64 and
this gives it a rank of tenth in the series and first place in the coins of its
year.
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1956 Dollar |
From the appearance of things, it would seem as though the Mint suddenly decided to use more (lies and thus avoid possible variants. Although there was a sharp decrease in the mintage, only 209,092 being minted, yet the number of both obverses and reverses was more than doubled. As a result of this, the average per pair of dies fell to the low figure of 5,227. And although public demand of the general sort must have fallen off collector demand showed an other increase. This seems to be evident because sundry persons went to a higher level with a figure of 15,172. We may take it for granted that people who buy coins directly from the Mint are almost entirely dealers and collectors. Of course, such a situation would not be true of 1953 and its much higher figure. That particular year may be regarded as out of the ordinary.
With
regard to millesimal fineness, the dollar of this year took second place and
lost out to the half dollar which was 10 points better. It may be observed that
the half is nearly always at the bottom of the list. The dollar fineness is
799.89 and it ranks seventh in the series.
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1957 Dollar - Normal |
This dollar has the dubious distinction of being at the bottom of the list in more ways than one. It ranks last and fifteenth in the series for fineness and is topped by all the coins of its year. Its millesimal fineness is 798.95 and the half takes first place.
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1958 Dollar |
Of all Canadian dollars that have been minted, the Totem Pole coin has created the most history numismatically and has attracted the most public attention. The more I consider this, the more am I amazed for it makes no logical sense. However, the human race is not governed by logic and quite probably never will be. After all, a world of mythology is ever so much more comfortable; who of us would not like to live with Alice in Wonderland?
It has enjoyed publicity that none of the other dollars ever had and is already on the way to becoming a legend. Those who see it for the first time may be pardoned for wondering why this could be true, but to understand it, they would have to know a great many things. I shall duly set forth a few of the many things.
I
have stated that it had unusual publicity and such is the case. A picture of it
appeared in the Spokesman-Review, the leading paper of Spokane,
A
well known chain store in
If
the
In
only two provinces of the Dominion are totem poles to be seen:
Our Teutonic ancestors gloomily noted the fact that they followed battles and helped themselves to the fare so thoughtfully provided by human folly. It was further noted that other birds did not do this, thus the raven is the symbol of evil.
As for the story that Indians would not touch the coins, I am inclined towards skepticism. No doubt it would be true of the older generation; it is the younger that I am skeptical about. Associated with whites very long, they soon adopt many of our attitudes.
Owing to its universality, the raven theme, or better legend, does make a good subject. For those who are eternally chasing the elusive dollar, the raven sticks out his tongue in sardonic mockery. Such is the story. The totem pole is not any particular one; it is a composite.
Reference has been made to the fact that the dollar has become something of a legend. Any number of curious stories centre about it and many are convinced that it will one of these (lays be valuable. Naturally enough, the people who believe these strange tales are not coin collectors. There are several reasons for the situation.
To begin with, quite a few who don't collect are convinced that it is the first Canadian dollar. They believe this because it happened to be the first to come to their attention. This situation is far more common south of the border than north of it for there must now be very few Canadians who are unaware of the dollar.
Secondly, we must consider the unusual design. Many people seem to think that an odd looking coin must he one of decided value. It does no good to inform them that 3,039,564 of them were minted and that consequently they can never get in the rare category. The person who explains the situation in this manner is frequently enough pitied for his ignorance. I can testify to this from personal experience.
Thirdly, we must consider the very human tendency to believe what we wish to believe. An untold multitude of these coins are held as souvenirs by people who firmly believe in their value and they will hardly thank the person who attempts to persuade them to the contrary.
An
odd fourth factor has played a part in the situation. A Detroit bank informs me
that when the coin first came out it attracted no unusual attention. However, a
local newspaper devoted some space to an article wherein was contained the
agonized outcries of some
You
would have a hard time convincing the people of
Not
only does the
On
thing that astonished many of us was the unprecedented size of the coinage. I
thought my own estimate of 2,000,000 large and it fell far short of the mark.
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1951 Commemorative Nickel |
Souvenir
hunters had a field day with this coin and it is now scattered all over the
Millesimal
fineness of the dollar is 799.51 which gives it second place in the coins of the
year and twelfth place in the series. No variants of any kind have so far been
reported.
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1959 Dollar |
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