The retail coin Market has increased significantly over the last several years. Silver bullion sales rose a staggering 250% just in 2020 alone. The increase in demand led to a 6-month delay for the release of the new redesigned American Silver Eagle. It was the first time in almost two decades that the U.S Mint failed to meet demand.
Several factors contributed to the massive surge. Uncertainty in the financial markets and a weakening dollar have always driven investors toward hard assets. A looming recession due to economic damage caused by of covid-19 also led many to the shiny white metal.
The increase brought many newcomers into the precious metals market. Many having little or no knowledge of the many different characteristics of gold and silver. We would often get asked about spot price and which were the best silver coins for investing.
The following are the most popular and widely collected coins from around the world. Included is the average premium one should expect to pay. Although spot price dictates the price of silver, there are several other factors that determine the price of coins.
The American Silver Eagle is arguably the most popular coin in the world. A few short years after it debuted in 1986, the Silver Eagle became the most minted coin, surpassing the Canadian maple leaf. The obverse features an enhanced version of the Walking Liberty design from the 1916 Half dollar. A depiction of a heraldic eagle graced the reverse for the first 35-years.
The coin was redesigned In 2021. While the obverse still features the walking liberty image with some minor enhancements, the reverse now features a bald eagle in flight clutching an oak branch. The American Silver Eagle is the only coin whose weight, content, and purity are guaranteed by the U.S. government. New, uncirculated Eagles typically sell for $7- $8 over the spot price of silver. Older used Eagles typically sell for as much as $10-$20 over spot, depending on the date. The coins’ popularity, as well as being IRA-approved, also grants them more value than most other silver coins.
The Canadian Maple Leaf is also a government-issued, legal-tender coin. Since its introduction in 1988, It quickly established itself as Canada’s flagship coin. A simple yet captivating design, the maple leaf appears as if its falling from the sky. Its a favorite among investors due to its popularity and high quality.
Maple Leafs are magnificently designed and are one of the purest government-issued silver coins, struck in .9999 fine silver. In 2018 the Canadian Mint developed Mint Shield technology to help reduce milk spots which were an ongoing problem for several years on Canadian maple leaf. New uncirculated Maple Leafs typically sell for $3.50-$5.00. above spot price.
The Krugerrand is also one of the most popular and sought-after coins in the world. The Krugerrand was the earliest bullion coins issued for collecting. When it was first minted in 1967, it was intended to introduce South African gold on the world stage, and it did just that. It’s estimated that in the early 1980s, three-quarters of the world’s gold coins were African Krugerrands.
In 2017, much to do the delight of collectors, the Krugerrand was finally minted in .999 silver. The obverse features the South African Republic’s first president, Paul Kruger. It’s one of his earlier portraits featuring the President’s left side profile. The reverse features a springbok antelope which is native only to Africa. It was designed in the early 1930s and has been featured on many South African coins. Krugerrands can be purchased for $3-$4 over spot price.
Austria’s signature coin, the Austrian Silver Philharmonic is Europe’s most minted coin. It’s the only silver coin that is denominated in euros, with a legal tender value of €1.5. The coin is adored for its beauty as it pays homage to the Austrian Philharmonic.
The obverse features various instruments from the Austrian Philharmonic Orchestra, including the Vienna horn, bassoon, harp, as well as 4 violins centered around a cello. The reverse features a depiction of the Golden Hall in Vienna, a National Treasure. Fans of Austrian economics also seem to have a soft spot for these coins. Austrian philharmonics can be purchased for $3-$4 above spot price.
It’s not just the U.S. and Canada that issue one-ounce silver-bullion coins; our neighbors to the south do as well. Although referred to as a coin, the Mexican Libertad is in fact a round due to the fact that it does not have a face value.
Considered among the most beautiful coin designs, and with an extremely low mintage, it’s one of the most highly sought-after coins among collectors. The one-ounce silver Libertad mintage averages less than 1 million coins per year, whereas the American Silver Eagle averages more than 20 million coins per year. Introduced in 1982, the coin was redesigned with minor changes 10 years later. Coins prior to 1992 are referred to as type 1.
The more common type 2 Libertad features a depiction of the Sacred Winged Angel that sits atop the Monument of Mexican Independence in Mexico City. The reverse features ten coat of arms from Mexico’s past, encircling the current Mexican coat of arms. Although they’re less marketable than other government-issued coins, they sell at some of the highest premiums in the coin industry. For a new 1 oz silver Libertad, you can expect to pay roughly 50%, and as high as double the spot price of silver. Older Libertads with extremely low mintages can run over $100.