What is a silver coin?
A silver bullion coin is a flat, disc-shaped token. It contains 99.99% pure silver and is minted by sovereign mints such as The Royal Mint, the US Mint and the Canadian Royal Mint.
Silver bullion coins are what are called investment-grade silver. This means that they are of the highest quality. They show the markings of the mint that created them as well as the date and a face value. The face value does not represent the value of the silver content, which is often worth many multiples of the face value.
Are silver coins measured in grams or ounces?
Silver bullion coins are measured in troy ounces. The most popular weight of silver bullion coin is the 1 ounce coin. A troy ounce is heavier than an avoirdupois (standard) ounce. A troy ounce is equal to 31.07 grams compared to an avoirdupois ounce which is equal to just over 28 grams.
Should I buy silver coins?
We believe that silver coins are a great investment for investors of all levels and investment approaches.
Holding silver bars or coins in your portfolio is a great way to add a form of financial insurance to your investments, thanks to silver’s long-term performance as a store of value and hedge against uncertainty.
When you choose to buy silver bullion coins you are choosing assets of the highest quality. By the nature of their fabrication and provenance their weight and purity is guaranteed. This removes the need for assay should you wish to sell them at a later date.
It is also easier with silver coins to sell smaller percentages of your overall silver holdings as you can just sell a coin at a time. This is obviously harder (impossible) to do if you own a single silver bar.
Which silver coin should I choose?
GoldCore prides itself on offering the most popular silver coins, from the world’s most respected mints. These include:
- American Silver Eagle: 1oz 99.99% silver with $1 face value
- Canadian Silver Maple: 1oz 99.99% silver with $5 face value
- British Silver Britannia: 1oz 99.99% silver with £1 face value
- Austrian Silver Philharmonic: 1oz 99.99% silver with €1.50 face value
- Australian Silver Kangaroo: 1oz 99.99% silver with AU$1 face value
Very often silver coins are sold in tubes of 25 or in boxes of 500 coins. The 1 ounce coin is the most liquid coin and so the most popular.
How much is a silver coin?
The cost of a silver coin is determined by weight and purity of its silver contents, and the premium charged on top. Very often silver coins command a slightly higher premium than silver bars. The premium covers fabrication, transportation and all of the other costs that are involved in getting the coin to the point that it can be sold to you.
It can be confusing if you see a silver coin that has a face value of $1 but is priced much higher. This is because the silver content is worth a lot more. The premium will have been calculated as a percentage of the silver value.
Many investors and industry experts consider silver to be undervalued. Because of this silver coins are considered to be excellent value and so potentially offer attractive returns.
Buyers of silver coins must be aware that VAT is charged on silver bullion coins. However silver coins minted by the British Royal Mint are CGT-exempt as they are considered to be legal tender.
Ready to buy silver coins?
If you are ready to buy silver coins then it is also worth considering how you would like to store your silver bullion. It is possible to store small amounts at home, however for larger quantities it is sensible to use a professional storage solution such as our high-security vaults across a number of safe jurisdictions.
If you would like to buy silver coins, then please sign-up with GoldCore. To get started, all you have to do is to visit our website's “open account” page and follow the on-screen instructions to set up your trading account.
If you’re feeling unsure or have any questions, call our team on any of the following numbers:
- UK: +44203 0869200
- UK: +44203 0869200
- Ireland: +(01) 653 3426
- US: +1 888 381 8130