It looks to be in VG condition to me, which would make this coin worth about $4. If the condition is better than appears in the pics, it is worth $6 in Fine, $8 in VF, and $16 in EF according to the Charlton book.
also, note the "H" mintmark below the date, which is for the Heaton Mint in Birmingham, England. The Royal Canadian Mint did not exist until 1908, at which time they began producing all Canadian coinage. Prior to that, all Canadian coins came from England, either The Royal Mint (in London at that time), or the Heaton Mint.
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