1968 Canada Elizabeth II, Nickel 10 Cents BU

About the 1968 Canada Elizabeth II, Nickel 10 Cents BU

Soaring silver prices had made silver coins worth more as bullion than as money, which encouraged hoarding and melting and pushed the Royal Canadian Mint to abandon the precious metal in its minor silver denominations. Demand for the new nickel pieces exceeded the capacity of the Ottawa facility, so the United States Mint of Philadelphia was contracted to help. This rare instance of a foreign mint producing Canadian coinage gives the type special appeal. Specialists separate the 2 sources by examining the edge reeding, which differs in the shape of its grooves, and a matched pair is a popular goal for variety collectors. The obverse carries the 2nd portrait of Elizabeth II, Arnold Machin's mature likeness of the Queen wearing a tiara. The reverse retains Emanuel Hahn's celebrated depiction of the Bluenose, the Nova Scotia fishing and racing schooner that became a national emblem, signed with his initial H. Because the nickel issue looks almost identical to its silver predecessor, collectors often use a magnet to confirm the composition. Together, the change of metal, the dual mint production and the enduring Bluenose design make this type an essential piece in any collection of modern Canadian coinage.