Silver coins are an excellent starting point for establishing an investment portfolio since they are available in various finishes, from Brilliant Uncirculated (BU) to Proof, and in a variety of styles. Proof Silver coins are good for investors since they frequently contain the same amount of silver and have the same design as their bullion counterparts but have a high-quality, mirror-like sheen.
Investors often prefer silver coins from sovereign mints due to their official backing and assured Silver content. These sovereign Silver coins are normally issued annually with a consistent weight and precious metal content. There are several options for investors to choose from regarding investment-grade, sovereign mint silver coins, which may appear daunting at first glance.
The following is a current list of the best silver coins to buy to aid in the silver purchasing process. It is not a comprehensive list. It focuses on recognizability, liquidity, and prospective return on investment. These are the Silver investment pieces that investors find most appealing.
Why Purchase Physical Silver?
Before exploring the best silver to buy, let us first discuss why silver is a wonderful investment.
Purchasing silver is worthwhile for the following reasons:
It is a brittle asset. While stocks, bonds, and other financial goods are sound investments, they are still depreciating digital promissory notes. On the other hand, silver is a tangible asset, and silver has always retained its worth, even during economic disasters.
It is more affordable and versatile than gold. Silver is less expensive and easier to obtain and utilize than gold, and it has historically outperformed gold during bull markets. Silver has lower denominations than gold, making it more convenient to use.
It is widely employed in a variety of sectors. Apart from its monetary value, silver is a component of most technological equipment. Silver's adaptability in industrial applications indicates its strong demand, which will continue to rise and make it a valued asset in our lives.
4 Types of Silver Worth Buying
Silver is available in a variety of sizes, shapes, and styles. Many investors combine silver coins, bars, and rounds for personal reasons, diversify their ounces in smaller and bigger denominations, or diversify their ounces in smaller and larger denominations.
We have summarized the four forms of silver that are worth considering below:
1. Silver Coins
Sovereign mints, national or government-backed institutions such as the US Mint, create silver coins. Silver coins are easier to convert to cash and unload than silver rounds, as they are significantly more prevalent and well-known worldwide. For instance, there is always a market, a willing buyer.
2. Bullion Coins
Bullion coins are most frequently found in 1 oz denominations and are widely available and accepted worldwide. Additionally, 30 gram, two-ounce, and even ten-ounce versions are available.
Smaller businesses have a number of advantages, the primary one being their liquidity. If you are in need of cash, virtually any vendor will buy your 1-ounce coins. However, you may have difficulty swiftly transporting a 10 oz Maple Leaf or other collectible numismatic.
As with gold, the price of a coin is determined by the current spot price per ounce of silver. Additionally, the mint charges a premium (known as seigniorage). In a sale, the premium is subtracted from the price you receive. Premiums are highly dependent on supply and demand. Generally, when demand is low, the premium is low, making this the optimal moment to buy. When silver coins fly off the shelves or supplies are in short supply, the premium typically increases.
3. Silver Bars
Silver bars are rectangular in shape and vary in thickness based on their weight.
Some people believe that bars are purer than coins. Not true, and silver is contained in the same proportions in both bars and coins. The majority of silver bars are 999 fine (99.9% pure), the same purity as a Silver Eagle, or 0.9999 fine (99.99 percent pure), the same purity as a Canadian Maple Leaf.
Coins dubbed "junk silver" are a misnomer, and they are far from junky and they are just 1964 and earlier US dimes, quarters, and half-dollars. During that period, junk silver coins circulated freely in commerce and were the final precious metal pieces to do so.
Their accumulated wear gives the majority of them a less-than-stellar appearance, hence the term "junk." They were, after that, phased out and replaced by coins made of a cupronickel alloy.
Compared to modern bullion coins and rounds, junk silver is not pure but is 90% silver. As a result, they are priced in the market according to their metal content.
How to Sell Silver
If you have purchased silver and are ready to sell or liquidate your investment, the following are some selling guidelines to bear in mind:
Finding a willing buyer who trusts you is necessary when selling silver bars. It is preferable to buy and sell through a dealer that offers a guaranteed callback. Even better, leave huge silver bars in our "chain of custody" to ensure their validity. Our allocated storage program is one simple way to accomplish this.
Selling bad silver requires locating a buyer/dealer specializing in junk silver, as these buyers/dealers may provide a little greater premium. Because junk silver is not as popular as other forms of silver, the best course of action is to locate someone with knowledge in this field who can offer a reasonable price.
Selling silver coins is a rather simple process in general. They are in high demand worldwide, and therefore liquidity is typically not an issue. On the other hand, certain coins are easier to convert or sell in specific marketplaces. For instance, coins from North America are typically easier to convert to money in the US market than coins from other parts of the world.
The Silver Eagle is the only silver bullion coin in the world, with the US government guaranteeing its weight, content, and purity. This alone makes the coins superior to privately minted "rounds" and is definitely worth the Silver Eagle premium. New, uncirculated Eagles often sell for between $1.80 and $2.50 more than silver's spot price, although "used" Eagles might sell for as low as $1 more than spot.
What distinguishes the Silver Eagle is its rapid recognition. Eagles will certainly command a premium in future barter transactions over coins issued by other governments and rounds made by private mints. Due to the coins' scarcity, they also have some numismatic value, which tends to improve with age. For example, 1986 Silver Eagles currently trade at a $7 premium over spot, whereas Eagles dated as recently as 2001 might trade at a premium of up to $5 or $6 above spot.
2. Silver Canadian Maple Leafs
Like the Silver American Eagle, the Silver Canadian Maple Leaf is a government-issued, legal tender coin. Although it lacks the Eagle's cache in the United States and overseas, the Silver Maple Leaf remains one of the most identifiable silver coins in the world and one of the most visually pleasing. Maple Leafs are exquisitely designed and truly a sight to behold. These are the purest government-issued silver coins, weighing 0.9999 fine silver (most others are just 0.999).
Like American Eagles, Maple Leafs often sell for about $1.80 and $2.50 above the spot, although Maple Leafs gain numismatic worth more quickly. For example, the 2008 Silver Maple Leafs are already trading at a premium of roughly $3 to spot. Additionally, several issues have extremely low mintage numbers. The 1988 Silver Maple Leaf had over 1.1 million units, whereas the 1992 issue had a mintage of just 343,800 units.
3. Morgan Silver Dollars
Morgan Silver Dollars are one of the most popular silver coins, and they are frequently manufactured, circulated, and collected. Between 1878 and 1921, the United States struck hundreds of millions of these coins, 90% silver, and 10% copper.
On the face of this coin, a left-facing Lady Liberty is surrounded by 13 stars. The reverse depicts a rather frail-looking bird, which inspired the coin's nickname, the "Buzzard Dollar." If you wish to collect or invest in Morgan Silver Dollars, pay attention to the Eagle's tail feather count. Some 1878 coins include eight tail feathers, while others feature seven, and coins with seven feathers are more difficult to find.
Morgan Silver Dollars were minted at numerous mints around the United States, from Philadelphia to New Orleans to Denver. The mint that struck the coins also affected Morgan's worth. Coins minted in New Orleans, for example, are often of lower quality, but coins struck in Philadelphia are well-struck and hence have a higher value.
4. Austrian Silver Philharmonics
The Austrian Silver Philharmonic is a rare coin that is even more beautiful than the Canadian Silver Maple Leaf. Additionally, it is the only silver coin with a legal tender value of €1.5. On one side of the coin, selected instruments from the Austrian Philharmonic Orchestra—a national treasure of Austria—are depicted. At the same time, the reverse represents the Golden Hall in Vienna, the venue of the orchestra's annual New Year's Day concert. Austrian economics enthusiasts also appear to have a special place for these coins.
Austrian Philharmonics is currently trading at a premium of $2-3 above the spot, but the 2008 issues are already fetching a premium of at least $2.30—for orders of 500 or more! A single 2008 Austrian Philharmonic coin can be purchased for approximately $3.50 over the spot, with price breaks at the twenty, one hundred, and five hundred dollar purchase levels. Two thousand-nine Philharmonics begin at $2.30 over the spot and can be bought for as little as $1.79 over the spot on really big orders.
5. Peace Silver Dollar
While some compare Morgan and Peace Silver Dollars, the two are extremely distinct. Peace Silver Dollar was in circulation from 1921 to 1928, following the completion of Morgan dollar minting, then again from 1934 to 1935. They were originally struck in high relief to commemorate the victory of the United States in World War I. However, manufacturers decreased the relief in 1922 to reduce wear and tear.
The obverse of these lovely coins features a very feminine Lady Liberty with flowing hair and a brilliant crown. The reverse depicts a bald eagle perched atop a mountain, its feet resting on an olive branch. As expected, the high-relief versions of these extraordinary coins are far more scarce and may represent a better investment than the lower relief releases. Both coins, however, have a high investment value.
6. APMEX 1oz Fine Silver Rounds
While Silver Eagles fetch a premium due to their widespread reputation, Maple Leafs are prized for the exquisite beauty and limited mintage. When it comes to acquiring the most silver for the money, APMEX Fine Silver Rounds are the best bet—at least in "coin" form. Technically, private mints' non-legal tender issuance are not considered "coins" and must be referred to legally as "rounds." However, silver is silver regardless of whether it is issued by the United States government or a for-profit organization such as APMEX. The latter's "rounds" are among the most well-known and accepted private issues.
APMEX rounds are.999 pure silver and sells at a premium of $0.79 to spot. The term APMEX refers to the American Precious Metals Exchange, which also offers Eagles, Maple Leafs, other government and private silver coins and rounds, and gold, palladium, and platinum. Although APMEX rounds are not as physically appealing as higher-premium government issues, silver is silver, and APMEX rounds are easy to keep and trade without incurring significant premiums beyond coinage expenses.
7. British Britannia
British Britannia silver coins are often traded in the United Kingdom, where they account for a sizable share of the market, and less frequently in other countries. They have a face value of £2 sterling and are legal currency.
Queen Elizabeth II is depicted on the obverse, while on the reverse, the iconic Britannia figure, the symbolic protector of the British Isles, is depicted.
Britannias struck in 2017 and later contain a security feature in the form of a speckled radial sunburst, which lends these silver coins an eye-catching appearance that is exceedingly difficult to counterfeit.
Originally manufactured in 1997 to the "Britannia silver" standard (.986 fine), the coin was converted to pure silver (.999 fine) in 2013.
8. Walking Liberty Half Dollars
Few American coins match the Walking Liberty half a dollar's beauty and universal appeal. "Walkers" were struck from 1916 to 1947, which had a particular place in the hearts of numismatists—and also preferred by silver investors.
Walking Liberty half dollars can be classified into two categories based on their scarcity and general cost: pre-1934 and post-1933. Walking Liberty half dollars minted prior to 1933 are regularly scarce coins, and they are worth enormous premiums over melt, even in the lowest grades. Since 1934, coins have become significantly more plentiful and can be obtained in lesser grades at melt values.
Due to its numismatic collectability and widespread demand, even among non-collectors, Walking Liberty half dollars offer good liquidity and potential for silver investors.
9. Junk Silver Dimes
Silver dimes issued before 1965 in the United States are regarded as junk silver by many investors. These coins, which you may occasionally find in your pocket change, are 90% silver and are frequently sold for melting.
These coins, which contain around 0.0723 troy ounces of silver apiece, are easily identifiable by their issue year, silvery shine, and telltale silver edge (contemporary dimes have a brown stripe running through their centers when viewed edge-on).
The majority of silver dimes include three distinct designs: the Barber, the Mercury, and the Roosevelt. Due to their widespread availability and easily-graded value.
10. Chinese Silver Pandas
The Chinese Silver Panda coin is another respectable investment opportunity. On the face of this popular Silver coin is a depiction of the Hall of Prayer for a Good Harvest in Beijing's Temple of Heaven, a stunning specimen of classic Chinese architecture. The series features a new reverse image of China's famous panda each year. Since its initial introduction in 1983, collectors and investors have anticipated adding the latest huge panda design to this renowned Silver coin.
Silver Panda coins are made of 0.999 pure silver and are legal currency in China. They have a smaller mintage than many other bullion coins. Due to its distinctive size and limited mintage, it is a superb addition to any bullion portfolio and one of the most interesting Silver coins available.
Final Thoughts
Silver coins can be an excellent way to invest in precious metals, both intrinsically and substituting for gold. The issue is that there are so many options. Naturally, we inquired as to the best silver coins to buy. That is a difficult topic to answer because it is very dependent on the type of investment you are seeking.
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