Silver coins are one of the most popular investment choices in physical silver bullion. Investors prefer silver coins because they are pure, trusted, and extremely liquid in the physical markets. In addition, many silver coins carry additional premiums as they have a collectibility factor beyond the value of their silver content. Read on to learn more.
What is a Silver Coin?
Investors refer to any government-produced silver piece as a “silver coin”, which is contrary to privately-minted pieces, referred to as “silver rounds”. Silver coins, as official government pieces, also often carry a face value, however the value of the silver in the coin typically far exceeds the face value.
Silver coins are minted in a variety of sizes, but the vast majority of government silver coins are of the 1 oz variety. These 1 oz coins typically are shipped in tubes of 20 or 25, which are combined into “Monster Boxes” of 500 coins.
Popular Silver Coins
Although there are thousands, likely tens of thousands, of varieties of silver coins out there, the majority of the United States market focuses on two coins: the American Silver Eagle and the Canadian Silver Maple Leaf.
American Silver Eagles
American Silver Eagles weigh 1 troy ounce and are produced by the US Mint in West Point as well as in San Francisco. Silver Eagles have been produced by the US Mint every year since 1986, with the same design used each year, and a face value of $1.
Investors prefer American Silver Eagles because they have only a small premium over spot price, typically a few dollars per ounce, and they are widely available in the physical markets. Also, as an official US Mint product, Americans trust the Eagle as a reputable form of silver bullion.
American Silver Eagles ship in sealed tubes of 20, which are encased in green Monster Boxes of 25 tubes, totaling 500 coins per box. Authorized Purchasers buy Monster Boxes straight from the US Mint, and then distribute them to the retail public.
Canadian Silver Maple Leafs
Canadian Silver Maple Leafs also weigh 1 troy ounce, and are produced by the Royal Canadian Mint. Silver Maple Leafs have been in production since 1988, with the same design being released each year, stamped with the current date. These coins carry a face value of $5 CAD.
American investors flock to Silver Maple Leafs because they have the same weight and purity as Silver Eagles, but typically are priced $0.50 cheaper.
This $0.50 discrepancy is due to the fact that the Royal Canadian Mint charges Authorized Purchasers $1.50/ounce, while the US Mint charges $2/ounce. That price then is passed down to the retail investor.
Canadian Silver Maple Leafs ship in sealed tubes of 25, which are encased in yellow Monster Boxes of 20 tubes, totaling 500 coins per box. Authorized Purchasers buy Monster Boxes straight from the RCM, and then distribute them to the retail public.
Buying Silver Coins Online
The easiest way to purchase physical silver coins is to buy them online from a trusted retailer. In a few short months our retail website will be live here at Silver.com to provide you with silver coins as well as other physical silver products. Please check back soon for updates.