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Lot
20069

Canada: George V 5 Cents 1921,...

2010 January Signature World Coin Auction #3008

 
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Auction Ended On: Jan 3, 2010
Item Activity: 6 Internet/mail/phone bidders
9,859 page views
Location:

Waldorf Astoria
301 Park Avenue
New York, NY 10022

Description:
The 'Prince of Canadian Coinage'--Classic 1921 5 Cents
George V 5 Cents 1921, KM22a, MS67 PCGS. The 1921 Canada 5 Cents silver piece ranks high on a list of the greatest Canadian rarities. Such a list might include the 1936 Dot Cent and 10 Cents, the 1906 Small Crown 25 Cents, the 1921 50 Cents, the 1948 Dollar, and the 1916-C Sovereign, among others including many pattern issues. Some have nicknamed this issue the "Prince of Canadian Coins" on the heels of the 1921 50 Cents piece that is dubbed the "King of Canadian Coins."

The mintage for this issue exceeded 2.5 million coins. However, that figure does not explain the rarity. After legislation was passed to create a new 5 Cents piece of a copper and nickel composition, orders were issued to melt the older 5 Cents silver coins, with more than 3 million pieces melted, including nearly the entire 1921 mintage. Those that escaped the melting pot included some that entered circulation and others that collectors must have preserved, as examples are known in grades ranging from VG to Superb Gem. The number known today probably approaches 100 coins, if current population data is any indication. NGC and PCGS have graded a total of 87 pieces in all grades, a figure that includes resubmissions.

This amazing piece is by far the finest 1921 5 Cents silver piece that exists, to the best of our knowledge. It is the single finest piece that PCGS has ever certified (7/09)--a Superb Gem with light silver and pale heather patina, enhanced by splashes of translucent blue and iridescent toning. Only a trace of strike weakness is noted on the obverse.
From the Canadiana Collection

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