Years in Circulation: 1967-1968 (the silver, mackerel version)
Other Names: Elizabeth II Coin
Famous: The mackerel on the 1967 dime makes it unique, but otherwise, this dime isn’t particular famous or mundane
Value as of November, 2011: The Elizabeth ii coins value is about $1.29 spot
Canadian coinage has a strange minting history and the dime is no different. Most of the coins in the Canadian mint have been prone to; at some point in their history, having their composition changed as demands on metal supplies shifted. The Canada Elizabeth II dime is no different and the 1967-1968 minting is even more changeable than usual!
In 1967 and 1968, many of the Canadian coins were shifting from being made from silver to nickel and the dime was no different. The silver content of the dime was already dropping as the price of silver rose and the worth of the dime could not possibly keep up. At the beginning of 1967, the content of the Elizabeth ii coin was 80% silver and 20% copper. Part way through this year, the content of silver dropped to 50% and by 1968, the silver content dropped still further to 50% and by the end of 1968, there was basically no silver at all (dimes were made from nickel instead).
If you want to look at a breakdown of minting numbers, we can see the following trend:
1967: 32.3 million dimes were minted with 80% silver and 30.6 million dimes were minted at 50% silver.
1968: 70.4 million dimes were minted at 50% silver and then 172.5 million dimes were minted at over 99% nickel.
As you can see, there was a huge shift in metal content in dimes in just the course of a year, due to the high demand for silver and the fact that the dime wasn’t worth enough to use silver on anymore. The main reason why the value of the 1967 dime is so low is because there is no way to tell which dimes have 80% silver and which ones don’t, so buyers err on the side of caution.
Metal content of this Canadian dime aside, the Elizabeth ii coins value is also based a bit on the fact that the 1967 run also had a mackerel on the reverse side of Queen Elizabeth instead of the Bluenose schooner. This was done in celebration of Canada’s 100 year anniversary of independence. Unfortunately, with over sixty million coins minted, this special dime is still not worth much, although that does make it fairly easy for collectors to add to their collection.
While the Elizabeth II Dime of 1967-1968 isn’t worth a ton of money, it is still interesting for collectors (particularly the anniversary run), and since it is so affordable, novice collectors can easily get one without too much trouble.