The earliest type of mass-produced coinage is regarded as being made of silver. Since the Greek era, silver has been a common metal for coins. Between 612 and 330 BC, silver coins were used by the ancient Persians. Prior to 1797, silver was used to make British pennies.
There is a good reason why investors favor sovereign silver coins. The purity and precious metal content of sovereign coins are guaranteed by the country that minted them, unlike bars or rounds. They are simple to recognize and verify, which makes reselling them much easier.
Coins have both an intrinsic value and a perceived value, just like any other investment. The perceived value is crucial because it significantly affects the resale value. The next five coins are all eligible for precious metal IRAs and have all shown to be reliable investments.
The renowned Adolph Weinman walking Lady Liberty can be found on the obverse of the American Silver Eagle coin. With olive branches in her arm and the American flag slung over her shoulder, Lady Liberty makes a deliberate forward stride toward the sun.
The Great Seal of the United States is depicted in a modified form on the reverse. The majestic eagle is holding a shield across its chest and the well-known arrows and olive branch in its talons. These sovereign coins have a face value of $1 and 1 troy ounce of 99.9% pure silver content.
The Queen Elizabeth II portrait can be seen on the obverse of the Canadian Silver Maple coin; it has undergone three revisions. The recognizable Canadian maple leaf is depicted on the coin's reverse. As an additional security measure, radial lines and a micro-engraved privy mark were added in 2014. They have a face value of $5 and 1 troy ounce of 99.99% pure silver inside.
Since 1988, Canadian Silver Maples have been available for direct purchase from the Canadian Mint and are a favorite among investors and collectors. The various special editions that were released in comparatively small numbers are attractive to collectors. Particularly relevant in this context is the Titanic Silver Maple Leaf, of which only 26,000 were produced.
The famous pipe organ used by the Vienna Philharmonic is shown on the obverse of the Austrian Silver Philharmonic coin. An assortment of orchestral instruments, including a harp, four violins, a cello, a bassoon, and a Vienna horn, are depicted on the reverse. Since their initial minting in 2008 until the present, the designs on both sides have remained constant. One troy ounce of 99.9% pure silver is contained in each coin. There is a 1.5 euro face value.
The Austrian Silver Philharmonic is the only silver coin issued in euros and has the largest circulation among the silver bullion coins produced in Europe. The Austrian Mint is the world's oldest mint still in operation. The coins it produces have an immediate and quantifiable value thanks to its reputation for technical excellence. Due to the widespread collection of The Silver Philharmonic in Europe, North America, and Japan, buying and selling is very simple.
The Chinese Temple of Heaven is depicted on the obverse of the silver panda coin. Throughout the years, the coin's design has undergone a few minor revisions, but overall it has remained largely unchanged. Each year, a new design of a panda bear appears on the reverse. The pandas have been portrayed in a variety of positions, such as playing, eating, and sitting.
One troy ounce (31.1 grams) of silver was present in each Silver Panda from 1983 to 2015. Chinese bullion coins began using the metric system in 2016, and as a result, the Silver Panda now has 30 grams of 99.9% pure silver. They have a 10 yuan face value.
The British Silver Britannia coin's obverse features a portrait of Queen Elizabeth II, just like the Canadian Silver Maple. Although several different versions have been used, the design has remained largely constant over time. The personification of Britain in the form of a female warrior, Britannia, is depicted on the reverse side.
Since the coin was first minted in 1997, there have been numerous iterations. The silver coins from 1997 to 2012 only have a purity of.958, or 95.8% silver, and are therefore ineligible for use in precious metal IRAs. But starting in 2013, the coins have 99.9% silver content and are IRA-eligible.
Because they are considered legal British tender and are therefore exempt from capital gains tax, investors are drawn to British Silver Britannia coins. The numerous variants of the coin appeal to collectors as well. The Silver Britannia consistently places in the top five most popular sovereign coins and is very recognizable.
Two important U.S. coins that were issued between 1965 and 1976 contained 40% silver. Investors, collectors, and buyers commonly refer to Kennedy Half-Dollars minted from 1965 to 1970 and in 1976 as "40% silver" as well as Eisenhower Silver Dollars minted from 1971 to 1974 and in 1976. The term also serves to distinguish these coins from coinage produced prior to 1965, which contained 90% silver, and from coins currently in circulation, which contain no silver.
Two significant U.S. coins had a silver content of 40% between 1965 and 1976. Investors, collectors, and buyers commonly refer to the Eisenhower Silver Dollars minted in the years 1971–1974 and 1976 as "40% silver" as well as the Kennedy Half-Dollars minted in the years 1965–1970 and 1976. The term also helps to distinguish these coins from pre-1965 coinage, which contained 90% silver, and from coins that are currently in circulation, which have no silver in them.
Prior to 1965, the majority of American coins were 90% silver and 10% copper. The cost-effectiveness of using silver at the time made it possible to create coins that were both attractive and durable. In the past, 90% silver was used to produce all U.S. coinage other than pennies and nickels.
Public Law 88-36 decreased the percentage of silver in coins from 90% to 40% in 1965. In the United States, silver was taken out of all coins starting in 1970. As a result, 90% silver coins have value based on their silver content and are highly sought after by investors and collectors.
More rarely than you might imagine, products made of imitation precious metals exist. This is due to a few factors, the first of which is the accessibility of test kits. Testing the product in question is the best way to determine whether it is real or fake. Chemical test kits, magnet test kits, portable or stationary x-ray machines (that test purity), and other test kits are easily accessible and reasonably priced.
The second reason is that counterfeiting coins is incredibly illegal and carries severe financial penalties as well as lengthy jail terms. Fun fact: Your local Secret Service office is in charge of overseeing cases involving counterfeit money. Other than protecting the President, it's one of the few duties they take on.
The third and final major factor is that reputable online precious metal dealers frequently purchase from the producer or from one, two, or all three of the major suppliers or importers worldwide. To continue operating and producing bullion, the various mints (both public and private) must uphold extremely strict certifications and licenses. That establishment would undoubtedly come to an end if even one bullion piece was at risk of not being completely pure.