How much is a 1987 Canadian dollar worth? This question often arises among collectors, investors, and enthusiasts of Canadian currency. The value of a 1987 Canadian dollar can vary significantly depending on several factors, including its condition, rarity, and any unique features or errors it may possess. In this article, we will explore the factors that influence the worth of a 1987 Canadian dollar and provide a general estimate of its value in today’s market.
The 1987 Canadian dollar is part of the series of currency notes issued by the Bank of Canada between 1935 and 1989. These notes are known for their distinctive designs and the use of various security features to prevent counterfeiting. The 1987 dollar features a portrait of Sir John A. Macdonald, the first Prime Minister of Canada, and is one of the more common denominations from this series.
The face value of the 1987 Canadian dollar is $1. However, its actual worth can be much higher, especially if the note is in excellent condition. Factors that contribute to the value of a 1987 Canadian dollar include:
1. Condition: The condition of the note is one of the most critical factors in determining its value. A note in “uncirculated” condition, meaning it has never been used or handled, can be worth significantly more than one that has been circulated.
2. Rarity: Some 1987 Canadian dollars may be rarer than others due to limited print runs or specific serial numbers. Notes with rare serial numbers or those from special printings can fetch higher prices.
3. Errors and Varieties: Notes with printing errors, such as misalignments or missing elements, can be highly sought after by collectors. Additionally, certain varieties, like the “Bicentennial” or “Maple Leaf” designs, may have a higher value.
4. Collectibility: The demand for Canadian currency among collectors can also influence its value. Notes with historical significance or unique designs are often more collectible.
As of now, a typical 1987 Canadian dollar in good condition can be worth anywhere from $5 to $10. However, if the note has rare features or is in exceptional condition, its value could be significantly higher. For example, a note with a rare serial number or a printing error might be worth hundreds or even thousands of dollars.
To determine the exact value of a 1987 Canadian dollar, it is best to consult with a professional appraiser or a reputable dealer. They can assess the note’s condition, rarity, and any unique features to provide an accurate valuation. Remember that the value of collectible currency can fluctuate over time, so it’s essential to stay informed about the market trends and the value of specific notes.
