All 1937 5 cent coins have this dot, which the designer felt was needed to balance the design due to lean of the 7 creating a bigger gap to the right than the left of the date. Some 1947'S have a small dot behind the 7 which some believe was intentional to mark where the maple leaf was to be punched, but never was. There are other dots in other positions on these, suggesting the dots result from die deterioration. They are a recognized variety and widely collected. When India received its independence in 1947, "IND IMP" (India's Emperor) had to be removed from all British Commonwealth coins dated after 1947. The new designs were prepared in England and did not arrive in Canada until late in 1948. While waiting for the new designs, coins dated 1947 a small maple leaf after the date, were minted in 1948. http://www.calgarycoin.com/modern/cd5cent.htm
That dot on the 37, is an error, heres a link http://www.coinsandcanada.com/coins-prices.php?coin=5-cents-1937&years=5-cents-1937-1952
The errors seem to be a dot after 3 and under N. The image above shows a normal, planned, circulation strike dot after 7. The dot after 7 appears to be a variety within the series.
