1973 represented the 100th Anniversary of the Prince Edward Island Province of Canada. In 1873,due to financial liabilities, the residents of Prince Edward Island agreed that the only feasible solution to resolve their financial issues was to become absorbed into the Canadian Federation. On July 2, 1873 Canada accepted Prince Edward Island into the Canadian Federation as a Province.
To commemorate the occasion, a circulating commemorative with a nickel composition was authorized for minting.
The obverse, designed by Arnold Machin, features the bust of Queen Elizabeth the II facing right. On the outer periphery are the words “ELIZABETH II” and "D. G. REGINA" which is the abbreviation for the latin term Dai Gratia Regina or By the Grace of God, Queen. Surrounding the overall design is a circle of beads.
The reverse, designed by Terry Manning, prominently features the Provincial Legislative Building and dual date of 1873 & 1973 on either side. The designer's initials “TM” are located at the left of the building while to the right of the building are engraver Walter Ott's initials "WO". On the upper outer periphery is the word “CANADA” and denomination “DOLLAR”. Below the design (in both English and French) are the words “PRINCE EDWARD ISLAND”.