Old Canadian Dollar Bill Value
Canada withdrew the $1 note in 1989 and the $2 note in 1996, replacing both with coins. Millions were saved rather than returned, so circulated examples are common and worth little more than face. The interesting Canadian notes are older and more specific.
In 2021 the Bank of Canada removed legal tender status from the $1, $2, $25, $500, and $1,000 notes. They can no longer be spent, though banks may still accept them at their discretion and the collector market is unaffected.
Quick facts
- Issuer
- Bank of Canada
- $1 note withdrawn
- 1989, replaced by the loonie
- $2 note withdrawn
- 1996, replaced by the toonie
- Legal tender removed
- 2021 for $1, $2, $25, $500, $1,000
- Key series
- 1954 Devil's Face
Old Canadian Dollars value by condition
| Condition | Estimated value | Notes |
|---|---|---|
| 1973 $1, circulated | $1 to $3 | |
| 1973 $1, uncirculated | $4 to $12 | |
| 1986 $2, circulated | $2 to $5 | |
| 1986 $2, uncirculated | $6 to $20 | |
| 1954 Devil's Face $1, circulated | $15 to $50 | |
| 1954 Devil's Face $1, uncirculated | $80 to $300 | |
| 1935 or 1937 series | $30 to $500+ | Denomination and grade dependent |
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Point your camera at a bill and get the series, type, rarity, and an estimated value range in seconds. No typing, no guessing at the series letter.
- Reads the series, seal type, and signatures from a photo
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The Devil's Face notes
The 1954 series carried a portrait of Queen Elizabeth II engraved from a photograph in which the curls of her hair, in the area behind her ear, appeared to form a grinning face. Newspapers picked it up and the Bank of Canada modified the plates to soften the hair.
Notes printed before the change are the Devil's Face variety and carry a substantial premium across every denomination. The later modified portrait notes are common. Compare the hair behind the ear against a reference image to tell which you have.
What removing legal tender status means
Since January 2021 the $1, $2, $25, $500, and $1,000 notes are no longer legal tender in Canada. A shop is not obliged to accept them and generally will not.
This does not affect collector value at all, and the Bank of Canada has stated the notes retain their face value for redemption purposes through banks. For anything with a collector premium, redeeming at face would be a poor decision.
Frequently asked questions
Can I still use old Canadian $1 and $2 bills?
No. They lost legal tender status in 2021. Banks may still redeem them at face value, but shops are not required to accept them.
What is a Devil's Face banknote?
A 1954 series Canadian note where the engraved detail in the Queen's hair appears to form a face. The plates were changed after the resemblance was publicized, so the earlier printings are scarcer and worth more.
Are old Canadian dollar bills worth anything?
Common 1973 and 1986 issues are worth only a small premium. The 1954 Devil's Face variety and the 1935 and 1937 series are worth substantially more.