![\"Stacks](\"https:\/\/vancouvergold.ca\/wp-content\/uploads\/2026\/03\/stacks-of-canadian-nickels.png\")
<\/p>\nThose walking around with change in their pockets most likely have a few nickels in their collection. The thumb-sized, silver-looking coin portraying one of Canada\u2019s beloved animals – the beautiful and majestic beaver – on the front. Contrary to its name, the Canadian nickel actually contains very little of its base metal namesake but is now made up of nickel-plated steel.<\/p>\n
The history of how the 5-cent piece went from being made of silver to steel is a long and fascinating story.<\/p>\n
Before Canadian Confederation in 1867, various British North American colonies (such as the Province of Canada, New Brunswick, and Nova Scotia) issued their own decimal currencies. In 1858, England\u2019s Royal Mint rolled out coins meant specifically for the Province of Canada. The 5-cent coin was tiny, as its size was meant to reflect its value; half of a ten-cent coin. It was also made of sterling silver.<\/p>\n
After Confederation, the new Dominion of Canada began standardizing its currency. Up until then, Canada\u2019s coins had continued to be produced by either England\u2019s Royal Mint or the Birmingham Heaton Mint – noted by the \u201cH\u201d mint mark – until 1908 when the Royal Mint opened its branch in Ottawa.<\/p>\n
The shift to the material that gives the coin its popular name came in 1922. Due to the rising cost of silver, and the metal shortages caused by the war, the Royal Canadian Mint (RCM)\u00a0 looked to reduce the production costs of the nickel. By this point, the coin\u2019s economic role was too significant to get rid of completely, but a change in its make-up needed to be made in order to lessen the financial load.<\/p>\n
In 1920, the RCM first began making the 5-cent coins out of lower quality silver, but just two years later, on January 3, 1922, the Canadian nickel was born. This version was made out of pure nickel and modelled after its American counterpart. Unlike the American nickel – which was 75% copper and only 25% nickel – Canada\u2019s pure nickel coin meant that Canada had officially become the metal\u2019s largest producer!<\/p>\n
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World War II brought unprecedented material demands, forcing the Mint to look for alternatives to pure nickel, a metal essential for the war effort. Materials used for manufacturing the beloved coins were now diverted to armour production. In response, the nickel\u2019s make-up went through a few changes to reflect what was readily available and cost-efficient.<\/p>\n
While the material production of the nickel was changing and evolving, so too was the design. Up until 1921, the coin had been recognized not only by its small size but by the crossed maple bough design on its surface. Then, from 1922 to 1936, the larger version of the nickel was changed to have two maple leaves instead. These remained until 1937 when the iconic Canadian mammal we\u2019ve come to know and love – the beaver – first appeared.<\/p>\n
While the beaver is still cast today, the nickel has had some notable commemorative changes on its reverse side:<\/p>\n
![\"Variety](\"https:\/\/vancouvergold.ca\/wp-content\/uploads\/2026\/03\/variety-of-canadian-nickels.png\")
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The Canadian nickel is more than just five cents; it\u2019s a tiny piece of metal history, marking Canada’s wartime sacrifices, industrial shifts, and beloved national symbols like the beaver.<\/p>\n