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Silver coins are a popular way to invest in silver bullion because they are much more affordable than gold. They are easy to stack and store and highly liquid, meaning they are easy to buy and sell. Typically, silver coins are one ounce, making them more divisive and providing flexibility when selling investments than larger silver bars. The government mint produces many silver coins, providing an extra layer of confidence for investors in the purity and weight of the coin. In addition, silver coins come in a variety of beautifully designed images. From the beloved government-minted Silver American Eagles to privately minted rounds, these silver coins will delight investors with iconic and beautiful designs. However, investors should always consider the additional premium they might pay for these designs.
Similar to gold coins, there are two options for silver coin investments: Government-minted coins and privately minted rounds. Government-minted coins have a face value associated with them and provide investors with an additional layer of guarantee for weight and purity backed by each government. They are easily recognized globally, providing trust and ease when selling and trading. Additionally, certain Government-minted bullion coins are IRA eligible. However, investors tend to pay a slightly higher premium for government-minted silver coins. Some investors find the extra cost worth the potential benefits. Silver rounds, on the other hand, are minted by private mints, sometimes referred to as “Privately minted silver coins”, but are not coins because they have no face value. Rounds can be purchased at low premiums and offer the same investment benefits as Government-minted silver coins. Whether you choose Government-minted or silver round bullion coins, each will provide wealth protection by their respective weight content.Â
1-oz American Silver Eagles are the official silver bullion coin of the United States and are the most popular government-minted 1-oz silver coins. As of 2023, the U.S. Mint has minted over 600 million silver coins since its introduction in 1986. Running second are the Canadian Silver Maple Leafs, minted in 1988. Third in popularity is the Austrian Silver Philharmonic, which is widely distributed in Europe as the only silver coin denominated in euros.
Other silver coins of consideration are the Australian Perth Mint’s 1-oz Kangaroos and the South African Krugerrand silver coin.
In addition to government-minted silver bullion coins, there are circulated coins with a portion of silver content contained in the coin, which is another excellent way to invest in silver.
Examples start with pre-1965 US 90% silver coins, commonly called “junk silver coins,” because they carry no numismatic (collector) value. Junk silver coins come in bags of dimes, quarters, and half-dollars. Walking Liberty Half Dollars, 1964 Kennedy Half Dollars, Franklin Half Dollars, Mercury Dimes, and 40% Clad Half-Dollars contain silver. However, investors should be cautious of the numismatic premiums some coins can carry because of the mintage year.
Did you know you can set up a precious metals IRA with eligible gold and silver bullion products? Gold or silver have proven to be a safeguard for wealth during times of economic downturns and uncertainty, so why not use this same power to safeguard your retirement savings? With a gold or silver IRA, investors own and control the invested bullion through the convenience of a custodial in the storage of a safe and secure IRS-approved depository. Similar to cash IRAs, the same tax implications apply to precious metal Traditional IRA and Roth IRA contributions. But, with precious metal IRAs, you receive the added benefit of the power of wealth preservation from gold and silver.Â
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