Silver Coins Overview
Silver coins represent one of the best overall values in silver bullion today. Silver coins come in various weights, and are produced by many of the world’s finest mints. If you are looking to add more total ounces of silver to your portfolio, or if you are an avid collector, silver coins may be a great choice.
Silver coins are easy to transport, and can be stored in a home safe, a bank safe deposit box or in the depository of your choice. Silver bullion coins tend to carry reasonable premiums over spot, and further savings can potentially be had when coins are bought in larger quantities. Some silver coins may potentially be eligible for purchase in an IRA account. Of course, you should consult your tax professional before purchasing for an IRA to determine eligibility and obtain proper guidance.
Silver coins are available in either bullion form or as proofs. Silver bullion coins are typically valued on their bullion content and their face value. Silver proofs or collectibles, however, may potentially garner greater value due to their overall condition, scarcity or collectibility. Premiums on proof coins or collectibles can be significantly higher than standard bullion coins. If you are simply looking to acquire as many ounces of silver as you can, then bullion coins may be more cost-effective.
Popular Silver Coins
Silver coins are produced by some of the finest mints on the globe. The U.S. Mint, The Royal Canadian Mint and The Perth Mint all produce various silver coin products.
The 1 ounce Silver Eagle coin from the U.S. Mint is one of the most popular silver bullion coins in the world. This coin features the Walking Liberty design by Adolph Weinman. The coin’s reverse features a powerful eagle with wings spread, as well as 13 stars for the original colonies. This iconic silver coins contains 1 troy ounce of .999 fine silver and is considered good, legal tender with a face value of $1.00.
Another example of an iconic silver coin produced by one of the most respected mints anywhere is the 1 ounce Canadian Silver Maple Leaf coin. This coin is produced by The Royal Canadian Mint and features an iconic symbol of Canada-the maple leaf- as well as a profile portrait of Her Majesty Queen Elizabeth II. This silver bullion coin contains 1 troy ounce of .9999 percent fine silver, making it one of the finest silver bullion coins available today. It is considered good, legal tender with a face value $5 (CAD).
The Perth Mint of Australia also produces a popular line of silver coinage. The 1 ounce Australian Silver Kookaburra coin celebrates the Kookaburra bird, a native Australian bird species. The coin also features a profile portrait of Her Majesty Queen Elizabeth II. The 1 ounce coin contains 1 troy ounce of .999 percent fine silver and is considered good, legal tender with a face value of $1 (AUD).
Whatever silver coins you choose, they can be a great way to add more ounces of silver to your holdings while also diversifying your portfolio or collection.