Bare head of George VI facing left, surrounded by the legend, an abbreviated translation of “George VI by the Grace of God, King and Emperor of India”.

The initials of obverse designer (T.H. Paget) are located to the right side of the truncation of King George Vi's effigy. Many times between 1937 and 1952 the initials began to wear off the dies so they had to be re-punched. There are three varieties that revolve around these initials: double HP, triple HP and quadruple HP. The varieties come from double, triple or quadruple striking of these initials. In 1945, only the Double HP exists. But for 1947, all four varieties can be found.

George VI (1895–1952) was King of the United Kingdom and the Dominions of the British Commonwealth from 11 December 1936 until his death. He was the last Emperor of India and the first Head of the Commonwealth.

As the second son of King George V, he was not expected to inherit the throne and spent his early life in the shadow of his elder brother, Edward. George's elder brother ascended the throne as Edward VIII upon the death of their father in 1936. However, later that year Edward revealed his desire to marry divorced American socialite Wallis Simpson. British Prime Minister Stanley Baldwin advised Edward that for political and religious reasons he could not marry a divorced woman and remain king. Edward abdicated in order to marry, and George ascended the throne as the third monarch of the House of Windsor.

Engraver: Thomas Humphrey Paget

Depicts a canoe containing a voyageur, or unlicensed fur trader, and an Indigenous man (aboriginal). The canoe also contains two bundles of furs—on one, the initials HB, for Hudson's Bay Company may be seen.

In 1946 the coin was made in both Short Waterlines (SWL) and Full Waterlines (FWL) variety. SWL consists of three or four short water lines to the right of the canoe, while the FWL coin has four full water lines at the right of the canoe.

Engraver: Emanuel Hahn