The Canadian 1 dollar bill has been withdrawn from circulation in 1989. Ever since then, plenty of people have stashed their banknotes of this denomination away, perhaps wondering if they will be of any worth in the future. Maybe just out of a sentiment, or because the exchange period has ended.
Are you one of these people? Well, we’ve got good news for you – your old canadian money might actually be worth a lot of money!
We’re now in 2019, 30 years after the Canadian 1 dollar bill has been withdrawn. Unlike coins, banknotes are much more susceptible to damage. The paper can easily get crinkled or rot away in a matter of days. The print can fade or wear off over the years. The note can get torn by a single move. It’s quite hard to keep a bill in a pristine condition. Perhaps that is why the Canadian 1 dollar banknote can be worth quite a lot of money. It aged much faster than coin and hence is now considered a collectible item.
The two features that define the price of a Canadian $1 dollar are quality and rarity. Let’s talk about the first one. We’ve said that already – banknotes can get damaged very easily. That’s why, if you’re planning to sell them as a collectible item, you need to make sure they’re in as good condition as possible.
How much exactly can a Canadian $1 bill be worth? Well, given that it’s in perfect condition, you can expect as much as $350 dollars for a note. That’s the top price for a banknote without taking into account its rarity.
That’s right, let’s talk rarity. It’s a defining attribute of some Canadian $1 bills. Which exactly? That depends on the year they were printed in. The rarest and most valuable of these banknotes come from 1954 and 1973. We will briefly talk about each of them and what makes them so unique for collectors.
The 1954 Canadian $1 bill
An oldie, but definitely a goldie, the 1954 Canadian 1 dollar banknote looks just like any other bill of this denomination. But that’s just on the surface and when it comes to old money, it’s the tiny little details that matter. In this case, it’s the Queen Elizabeth II’s hair. When the bill was released to the public, people quickly noticed that a bit on the left side of Queen’s head looks a bit like a head of the devil! Dubbed ‘Devil’s Face’, it was quickly taken out of circulation, but now, after 65 years, the bill is highly sought after. The asking price? $7000. Quite alright, eh?
The 1973 Canadian $1 bill
Contrary to the 1954 banknote, this one did not have to be replaced – it was actually the replacement! While most 1973 $1 bills are ‘normal’ and do not hold much in terms of value, some can make you as much as $300!
What makes them so unique? Being a replacement banknote, they had an asterisk added in front of their serial number.
Banknotes suffer a sad fate of losing their value very quickly after denomination. More often than not, they become nothing more than pieces of paper with an elaborate printwork. It is, however, worth to look out for unique pieces. While they might not make you as much money as a rare coin, they may still be worth something. And looking at the example of the Canadian 1 dollar bill, sometimes it can be quite a lot!