1947 Canadian dollar with maple leaf

Agflyer

My local coin dealer has a very attractive 1947 ML dollar that he has graded at MS64. The coin has proof like surfaces and very nice rainbow toning. I've dealt with this dealer for years and if he says it's a 64, then it is likely to be a 64+. I am ignorant in the ways of the gray side of coin collecting, but I was wondering about your opinions on if I should buy this coin. . . I'll tell you what he wants for it later . The coin, like I mentioned, has proof like surfaces and there is question as to whether or not it is in fact a proof (or I guess you guys call it, specimen). Is there any way to tell? Either way it's a scarce coin in MS64. Is this a coin that collectors particularly want/need? I'm wondering about its future potential. Thanks in advance for your comments.

docday2003

I only collect business strikes, not specimens, so I can't comment on the demand for the latter. However, a true MS64 47ML is uncommon, and definitely worth having. I suspect that its true rarity exceeds the 48 dollar.

Agflyer

Thanks Docday. What would you suggest is a good price for an MS64? Thanks again.

XpipedreamR

I'm confused...you're asking if you should buy a great looking Canadian 1947 ML dollar? Well, with only that information, I'd say buy it for sure at $1, and pass at $1,000,000.

You're on your own if the price is in between

Agflyer

So I should pass on it for $1,000,000?

I know coin pricing is very subjective. How I can I put this. . . ? I'm mainly a U.S. type coin collector who became mesmorized by a very nice MS64 Canadian dollar. There were fewer 1947 ML dollars minted than, say, an 1893-s Morgan dollar. The 1893-s is very much in demand and it is relatively scarce in all grades so it commands a very high price. I know that its value is very high to collectors. Is this the same with the 1947 ML Canadian dollar? Would I be wasting my money on a very nice coin that nobody collects? I don't want to be like the new, misinformed U.S. coin collector who pays a fortune for an ACG PF70 Silver Eagle only to find out that it's really only worth a few dollars over silver melt.

coinkat

I think that Docday is right. The 1948 was hoarded and is not the rarity of other dates in high BU grade. If the price is not in the nosebleed section, I would give this the most serious consideration.

ajaan

A true MS64 should go for around US$1100.

Agflyer

Thanks guys. My dealer wants $890 for it. I need to look at it one more time before I make my final decision, but it sure would look nice in my collection.

ajaan

A MS63 usually sells for $600.