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1973 Canadian 25-Cent (RCMP Centennial) Quarter Value Guide
What is your 1973 Canadian RCMP quarter worth? Small Bust: face value to $150+. Rare Large Bust: $75$3,000+ CAD. Complete price guide by grade, variety, and finish.
Most 1973 Canadian quarters (Small Bust) are worth $0.25 (face value) in circulated grades. In top Gem grades the same coin reaches $150+ (MS67). However, if your coin is the rare Large Bust variety, even a heavily circulated example starts at $75$100 and an MS65 can reach $1,500$2,500 CAD.
- Small Bust Circulated (GAU):$0.25 (face value)
- Small Bust Gem (MS65):$20$30
- Small Bust Superb Gem (MS67):$150+
- Small Bust PL67 Ultra Heavy Cameo:$200+
- Large Bust Circulated (VGFine):$75$100
- Large Bust MS64:$750$1,500
- Large Bust MS66:$3,000+
Is it silver? No the 1973 quarter is 99.9% pure nickel and strongly magnetic. There is no silver content and no melt value premium.
Shiny or from a set? Check the bead gap before assuming it is a standard PL example a Proof-Like Large Bust is worth approximately $300$500 CAD. All values in CAD as of 20242026. See full value chart
The 1973 Canadian 25-cent coin commemorates the centennial of the Royal Canadian Mounted Police (RCMP), founded in 1873. Featuring a dynamic reverse by artist Paul Cederberg, it remains one of the most actively studied modern Canadian coins not merely as a tribute to a national institution, but as the host of a significant die variety. A mismatch in the die-production workflow resulted in a small number of coins being struck with an unmodified 1972-style obverse: the “Large Bust.” With a total mintage exceeding 135 million, the coin is ubiquitous; the Large Bust sub-variety, estimated at fewer than 10,000 pieces, transforms an ordinary pocket-change find into a potential four-figure rarity. For the full history of the denomination, see our Canadian Quarter Value Guide.
Note: Production anomalies such as off-metal strikes and clipped planchets exist for 1973 but are outside the scope of this standard value guide, which covers the Small Bust (common) and Large Bust (die variety) issues only.
The 1973 Canadian RCMP Centennial quarter Arnold Machin’s Queen Elizabeth II (Second Portrait / Tiara Head) on the obverse, and Paul Cederberg’s Mountie-on-horseback reverse featuring the commemorative dates 1873 and 1973.
1973 Canadian Quarter Composition & Melt Value
Metal Composition
The 1973 quarter is struck in 99.9% pure nickel, a composition adopted by the Royal Canadian Mint for the 25-cent denomination in August 1968 following a sustained rise in silver prices. Prior to 1968, Canadian quarters contained silver alloys (80% silver until mid-1967, then 50% silver). By 1973, the transition was complete, and no silver is present in this coin. Because the coin contains no precious metals, there is no meaningful melt value the numismatic premium of a well-preserved 1973 quarter far exceeds the intrinsic value of its nickel content.
Magnetic Properties: A Key Authentication Test
The 99.9% nickel composition makes the 1973 quarter strongly magnetic. A household refrigerator magnet will snap firmly to its surface. This property is important for two reasons:
- Authentication: It immediately distinguishes the 1973 quarter from pre-1968 silver quarters, which are non-magnetic.
- Counterfeit detection: A non-magnetic coin dated 1973 is immediately suspect.
Note that the magnet test does not help distinguish the Large Bust from the Small Bust both varieties are struck on the same 99.9% nickel planchets and respond identically to a magnet. Use the bead-gap and “A in REGINA” diagnostics (described in the Identification Guide below) for variety attribution.
The hardness of pure nickel also had a direct influence on the creation of the Large Bust variety: nickel’s resistance to metal flow during the strike required the Mint to reduce die relief on the obverse a modification that was not applied to all working dies, producing the unintended Large Bust mule.
A household magnet snaps firmly to the 1973 quarter’s 99.9% pure nickel planchet the easiest way to confirm authenticity and distinguish it from non-magnetic pre-1968 silver quarters. (Illustration — not a photo of your exact coin)
1973 Canadian Quarter Value Chart by Grade & Variety
Values below are in CAD and reflect 2024–2026 market data. The 1973 quarter market divides sharply by variety: the Small Bust (standard issue, ~135.9 million struck) trades on grade alone, while the Large Bust (fewer than 10,000 estimated) commands a substantial variety premium at every grade level. Identifying your variety is therefore the essential first step before any valuation.
1973 Canadian Quarter — Small Bust, Business Strike (Circulation)
The Small Bust is the standard 1973 issue. In circulated grades it carries no premium above face value. Condition scarcity begins at MS66, where bag marks on the large open reverse fields become the limiting factor.
| Grade Range | Estimated Value (CAD) | Notes |
|---|---|---|
| Circulated (G–AU) | $0.25 | Face value only. No silver content; hundreds of millions exist. |
| MS60–MS63 | $1.00–$5.00 | Bulk trade or novelty value. |
| MS64 | $10.00–$15.00 | Commonly found in original 1973 bank rolls. |
| MS65 | $20.00–$30.00 | Readily available. ICCS MS-65 examples at Canadian Coin & Currency. |
| MS66 | $45.00–$60.00 | Condition rarity begins here. ICCS MS-66 at Colonial Acres. |
| MS67 | $150.00+ | True Superb Gem. Bag marks and carbon spots make this grade very difficult to attain. |
Grade comparison for the 1973 Canadian RCMP quarter: circulated example (left, worn Mountie and horse detail, worth face value) vs. Gem uncirculated (right, full cartwheel luster with clean open fields). (Illustration — not a photo of your exact coin)
1973 Canadian Quarter — Large Bust, Business Strike (Rare Die Variety)
The Large Bust commands a premium at every grade. Even a heavily circulated example is worth substantially more than face value. The market has shown consistent appreciation: MS64 examples that traded around $550–$600 USD in 2015 are estimated at $1,000–$1,500 CAD in 2024–2025 catalogues. For a detailed variety analysis, see the PCGS authoritative large bust vs. small bust analysis.
| Grade Range | Estimated Value (CAD) | Notes |
|---|---|---|
| VG–Fine | $75.00–$100.00 | Entry-level “filler” examples. High liquidity among collectors. |
| VF–XF | $125.00–$225.00 | Strong demand. Cross-reference: Numista cites ~$240 USD for high XF/AU. |
| AU (About Uncirculated) | $250.00–$375.00 | Strong demand from intermediate collectors. |
| MS60–MS62 | $400.00–$600.00 | Investment-grade entry point. |
| MS63 | $500.00–$700.00 | Recent auction estimates suggest $500+ opening bids. See 2025 New Year’s Sale catalogue. |
| MS64 | $750.00–$1,500.00 | Prices vary with eye appeal and spot-free status. High end documented in Canadian Coin News (April 2024). |
| MS65 | $1,500.00–$2,500.00 | Very scarce. Most high-grade survivors are from original 1973 bank rolls saved as centennial souvenirs. |
| MS66 | $3,000.00+ | Extremely rare. PCGS population nearly non-existent at this tier. |
1973 Canadian Quarter — Collector Finishes (PL & Specimen)
Both Proof-Like (PL) and Specimen sets issued in 1973 can contain either the Small Bust or the Large Bust variety. Checking the bead gap on every set you encounter is essential — a PL Large Bust is worth significantly more than a standard PL example.
| Finish | Variety | Grade / Example | Estimated Value | Notes |
|---|---|---|---|---|
| Proof-Like (PL) | Small Bust | PL67 UHC | $200+ | UHC = Ultra Heavy Cameo. Value driven entirely by aesthetic rarity. Lower PL grades not separately documented in source. |
| Proof-Like (PL) | Large Bust | — | $300.00–$500.00 CAD | Sales around $384 USD also documented. See PCGS analysis. |
| Specimen (SP) | Large Bust | — | $276.25 | “Sold out” price per Colonial Acres listing. Currency as stated in source. |
PVC Damage Risk
Proof-Like coins stored in the original pliofilm packaging of 1973 sets may develop green PVC residue after 50+ years of storage. If you see green slime or surface corrosion, the coin requires professional conservation with pure acetone — not nail polish remover or household cleaners. PVC-damaged coins revert to face value regardless of variety.
Never Clean Your Coins
Cleaning strips original luster and leaves hairlines visible under magnification. A cleaned 1973 quarter — even a Large Bust — will receive a “Details” (damaged) designation from any grading service and loses all numismatic premium, regardless of its variety status or underlying detail.
Values in CAD represent typical market prices as of 2024–2026. For the complete denomination price guide, see our Canadian Quarter Value Guide.
Most Valuable 1973 Canadian Quarter Varieties
The 1973 quarter market revolves around one fundamental variety distinction: Small Bust (common) versus Large Bust (rare). Within the collector-finish category, cameo contrast on PL coins creates a secondary value tier for the Small Bust. There are no other documented die varieties for this issue.
1. Large Bust (Die Variety / Mule) — Trophy-Level Rarity
The Large Bust is produced by pairing a 1972-style obverse die (unmodified for the metal-flow requirements of the 1973 reverse) with the 1973 RCMP commemorative reverse. It is a numismatic mule. Estimated mintage: fewer than 10,000, representing less than 0.01% of the 135,958,589 total coins struck. Because the variety was unrecognized when the coins were released, most entered circulation and very few were preserved in Mint State condition. The documented market trend shows consistent appreciation from 2015 to 2024–2025.
For a side-by-side photographic reference and attribution standards, see the Canadian Coin & Currency 1973 RCMP variety identification guide.
| Diagnostic Feature | Small Bust (Common) | Large Bust (Rare) |
|---|---|---|
| Bead Count | 120 beads | 132 beads |
| Bead-to-Rim Position | Wide gap — beads “float” inside the border | No gap — beads nearly flush with the raised rim |
| “A” in REGINA (apex) | Points between two beads | Points directly at a bead |
| Queen’s Hair Detail | More refined (modified 1973 die) | Less refined (1972-style die) |
| Estimated Mintage | ~135,948,000+ | <10,000 |
| Status | Common / Standard | Rare / Die Variety |
The bead-gap diagnostic: Small Bust (left) shows a clear, smooth field of metal between the denticles and the rim — beads appear to “float.” Large Bust (right) shows beads nearly flush against the raised rim with almost no smooth field visible. This is the fastest screening test. (Illustration — not a photo of your exact coin)
The definitive “A in REGINA” alignment test under magnification: on the Small Bust (left), the apex of the “A” points between two beads. On the Large Bust (right), the apex points directly at a bead. This test is binary — there is no ambiguity. (Illustration — not a photo of your exact coin)
2. Small Bust PL67 Ultra Heavy Cameo — Condition/Cameo Rarity
Within the Small Bust collector-finish category, cameo contrast is the primary value driver. A 1973 Small Bust in PL67 Ultra Heavy Cameo (UHC — black-mirror fields against white-porcelain devices) can sell for over $200, despite the underlying variety being common. This premium is driven entirely by the aesthetic and condition rarity of achieving the highest grade with the strongest cameo contrast on a 50-year-old nickel coin. Lower PL grades and non-cameo examples are not separately price-documented in the source data for this issue.
Opportunity in PL Sets
Many collectors overlook 1973 PL sets, assuming they contain only the standard Small Bust. The bead-gap diagnostic can often be performed through the pliofilm packaging without opening the set. A PL Large Bust acquired for the price of a standard set represents one of the better value opportunities in modern Canadian variety collecting.
1973 Canadian Quarter Identification Guide
30-Second Identification Checklist
- Monarch Check: The obverse shows Queen Elizabeth II facing right, wearing the Girls of Great Britain and Ireland Tiara. This is Arnold Machin’s Second Portrait (Tiara Head), used on Canadian coins from 1965 to 1989. The legend reads ELIZABETH II D.G. REGINA.
- Reverse Check: The reverse features a solitary RCMP officer on horseback, facing left, in full ceremonial review order — Stetson, Red Serge tunic, breeches, Strathcona boots, and lance. The legend reads CANADA at the top and 25 CENTS below, with the commemorative dates 1873 (left of the horse) and 1973 (right) flanking the rear of the horse. Artist’s initials PC (Paul Cederberg) appear near the bottom rim and may require magnification on circulated examples.
- Date Check: The reverse carries dual dates: 1873 (the founding year of the RCMP) and 1973 (the issue year). The coin is a 1973 issue.
- Edge Check: Reeded (milled) edge — consistent with all standard Canadian quarters of this era.
- Magnet Test (Composition Verification): Apply a magnet. A genuine 1973 quarter is strongly magnetic — it will snap firmly to a household magnet. This confirms the 99.9% pure nickel composition and distinguishes it from non-magnetic pre-1968 silver quarters. Both Small Bust and Large Bust are equally magnetic.
- Mint Mark Check: No documented mint marks on 1973 circulation quarters. This is standard for Canadian circulation coins of this era. Neither variety carries a distinguishing mint mark.
- Finish Identification:
- Business Strike: Cartwheel luster visible when the coin is tilted under a single light source; normal handling marks and bag marks on the fields.
- Proof-Like (PL): Mirror-like fields; frosted or semi-frosted devices; typically found in pliofilm (cellophane) collector sets from the RCM. A “shiny” 1973 quarter found loose is almost certainly a PL coin that has been removed from a set.
- Specimen (SP): Satin or matte fields with sharply struck, squared rims; from leatherette or prestige presentation cases. Large Bust Specimens are confirmed to exist.
- Variety Check — The Three-Step Large Bust Test:
- Bead Gap (Quick Screen): Look at the space between the peripheral beads and the raised rim. Small Bust = wide, clear gap. Large Bust = beads nearly flush against the rim with almost no smooth field visible.
- “A” in REGINA (Definitive Test): Under 5–10x magnification, locate the letter “A” in the word REGINA. Look at the apex (top point) of the “A.” If it points between two beads → Small Bust. If it points directly at a bead → Large Bust. This test is binary with no ambiguity.
- Bead Count (Infallible, Tedious): Count all beads around the obverse rim. 120 beads = Small Bust. 132 beads = Large Bust.
Finish comparison for the 1973 Canadian quarter: Business Strike (left, cartwheel luster with typical bag marks on the open field behind the Mountie), Proof-Like (centre, mirror fields with frosted device), and Specimen (right, satin fields with sharp squared rim). (Illustration — not a photo of your exact coin)
Bead count at 10x magnification: 120 evenly spaced beads with a wide gap to the rim (Small Bust, left) vs. 132 tighter-spaced beads virtually flush to the raised rim (Large Bust, right). Counting is infallible but time-consuming — use the bead-gap or “A in REGINA” test for rapid screening. (Illustration — not a photo of your exact coin)
Grading Service Guidance
ICCS (International Coin Certification Service, Toronto) is the Canadian domestic standard; its grade is the benchmark for domestic pricing. PCGS and NGC are US-based alternatives preferred for investment-grade Large Bust examples destined for international auction. For any Large Bust priced above $200, insist on certification from one of these three services — the primary risk is a seller misidentifying a Small Bust as a Large Bust, and grading resolves it definitively.
1973 Canadian Quarter Value FAQs
What is a 1973 Canadian quarter worth?It depends entirely on the variety. The common Small Bust is worth face value ($0.25) in circulated grades, rising to $20–$30 at MS65 and $150+ at MS67. If it is the rare Large Bust, a circulated example starts at $75–$100, an MS64 reaches $750–$1,500, and an MS66 hits $3,000+. Identifying the variety is the essential first step.
No. The 1973 quarter is struck in 99.9% pure nickel and contains no silver. The Royal Canadian Mint completed the transition from silver to nickel for the 25-cent denomination in 1968. You can confirm this instantly: the 1973 quarter is strongly magnetic, while pre-1968 silver quarters are non-magnetic.
The Large Bust uses an unmodified 1972-style obverse die paired with the 1973 RCMP commemorative reverse — a numismatic mule. Key differences: the Large Bust has 132 obverse beads versus 120 on the Small Bust; the beads sit nearly flush against the rim (versus a clear gap on the Small Bust); and the apex of the “A” in REGINA points directly at a bead rather than between beads. The Large Bust was struck from a small number of unadjusted working dies, resulting in an estimated mintage of fewer than 10,000 from a total of over 135 million.
Use the three-step test: (1) Bead gap: If the beads appear “tight” or jammed against the rim with almost no smooth field between them and the edge, suspect Large Bust. (2) “A” in REGINA test: Under 5–10x magnification, look at the apex of the “A” in REGINA — if it points directly at a bead it is a Large Bust; if it points between beads it is a Small Bust. This test is binary with no ambiguity. (3) Count the beads: 120 = Small Bust; 132 = Large Bust. See the Canadian Coin & Currency RCMP variety guide for additional visual references.
There is no official Royal Canadian Mint figure. The numismatic estimate is fewer than 10,000 — representing less than 0.01% of the total 1973 mintage of 135,958,589 coins. Some researchers suggest the true number may be closer to 3,000–5,000, given the scarcity of high-grade examples in grading-service populations. Because the variety was not publicized when the coins were released, most entered circulation unrecognized and few were preserved in Mint State condition.
For any example you believe is worth more than $200, third-party grading from ICCS, PCGS, or NGC is strongly recommended. The primary risk is misidentification — it is easy for a seller or buyer to confuse the two varieties without proper examination under magnification. A certified slab resolves this. ICCS (Toronto) is the Canadian domestic standard; PCGS is preferred for investment-grade examples destined for international auction. The grading fee is easily justified once a coin reaches the MS63–MS64 level.
A Proof-Like coin is struck from specially prepared dies on polished planchets, producing mirror-like fields and frosted devices — distinct from the cartwheel luster of business-strike circulation coins. PL coins were issued by the RCM in pliofilm (cellophane) packaging. A Specimen coin is struck with even greater care: the fields are satin or matte-finished rather than mirrored, and the rims are sharply squared, from leatherette or prestige cases. For 1973, Large Bust examples are documented in both PL and Specimen sets — making it important to check the bead gap on every set you examine before purchasing.
Two factors limit high grades. First, pure nickel is extremely hard, and coins struck from nickel clash loudly in mint bags — the large, open fields of the 1973 reverse (behind the Mountie) are particularly vulnerable to bag marks, making MS66 and MS67 genuinely difficult to attain. Second, nickel reacts to sulfur compounds in paper storage media (original bank rolls, cardboard 2×2 holders), developing black carbon spots over 50+ years. A spot-free, bag-mark-free 1973 quarter in MS67 is a true condition rarity.
Three main sources: (1) Original 1973 bank rolls — if one Large Bust appears, others may be adjacent, as they were likely struck in a batch from the same unadjusted working dies. (2) Dealer “junk” bins priced at face value — few dealers check the bead count on every 1973 quarter. A loupe and patience can yield results. (3) RCM PL and Specimen sets from 1973 — examine the bead gap through the pliofilm packaging before purchasing. A Large Bust PL acquired for the price of a standard set at $10–$15 and later certified could be worth $300–$500.
Methodology & Sources
Values in this guide reflect 2024–2026 market data drawn from the following sources:
- PCGS: “Size Matters: Large Bust vs. Small Bust 1973 Canadian Quarters” — variety attribution, diagnostics, population context, and PL pricing
- Numista: 1973 Canadian 25 Cents (RCMP) — physical specifications and cross-reference pricing
- Canadian Coin & Currency: 1973 25-Cent RCMP Commemoratives Guide — variety identification
- Royal Canadian Mint: 25 Cents denomination history
- Colonial Acres Coins: 1973 Large Bust 25-Cent Specimen listing — retail/sale price reference
- Colonial Acres Coins: 1973 Small Bust ICCS MS-66 listing — price reference
- Canadian Coin & Currency: 1973 Small Bust ICCS MS-65 listing — price reference
- Canadian Coins and Paper Money: 2025 New Year’s Sale Catalogue — auction estimates
- Canadian Coin News, April 9, 2024 — market pricing reference
Variety diagnostics are verified against PCGS and ICCS attribution standards. All values are in CAD unless otherwise noted in the table. Market prices are estimates reflecting typical retail and auction transactions — individual sale prices vary with eye appeal, certification status, and market timing. This guide covers standard (non-error) issues only; production errors are outside scope.
A note on images: To help illustrate coin diagnostics and rare varieties especially complex errors that are difficult to describe in text alone this guide uses AI-generated images. All written values, diagnostics, and variety attributions have been manually reviewed against the cited sources above. While our editorial team works to ensure every image is accurate and helpful, AI-generated illustrations may occasionally misrepresent fine details. If you spot any discrepancy between an image and its written description, please contact us or leave a comment below we review all feedback and correct errors promptly. Numismatic knowledge is a community effort, and your input helps us build a more accurate resource for everyone.