Buying Silver Coins
Since its humble beginnings in 1967, the Monex companies have led the industry in silver coin investing programs by offering circulating U.S. "junk silver coins" in $1,000 face value bags. Besides making the sale of pre-1965 U.S. silver coins a widely accepted investment to the American public, Monex has also made buying and selling coins over the phone preferred for serious investing volume. As America's premier silver coin dealer, Monex inaugurated the foremost financing program for buying silver coins.
In 1982, the first silver eagles were the Monex Silver Eagles, which became the first private bullion minting project produced at Canada's Royal Mint. This was four years prior to the U. S. Mint introducing their American Silver Eagle Coins, which offered the same .999 fine investment grade purity as an alternative to the 90% junk silver coin bags. Many analysts feel that silver, and specifically silver coins, presents an outstanding investment opportunity. Monex prides itself on having the best silver coin prices and programs in the silver coin industry. You can get up-to-date live coin prices here online, the mobilemonex.com smartphone app or by phone.
Silver Bullion Coins Available:
Silver American Eagle bullion coins are the most popular silver bullion coins in the world as measured by mintage volume. Each coin is exactly one troy ounce of pure .999 fine silver and each is exquisitely beautiful. The obverse of the coin features the ''Walking Liberty'' image designed by A. A. Weinman, first used on the U.S. half-dollar coin minted between 1916 and 1947. The reverse design of the coin is a rendition of a heraldic eagle designed by John Mercanti. First minted in 1986, the Silver American Eagle bullion coin is the purest silver coin ever minted in the USA and carries a largely symbolic one dollar face value. Monex offers the Silver American Eagle in units of 100 coins.More Information
Silver Canadian Maple Leaf bullion coins are the most valued by investors and are among the purest silver coins available, and each containing one troy ounce of pure .9999 fine (''four-nines'' fine) silver bullion. With a face value of five Canadian dollars, the Silver Canadian Maple Leaf boasts both greater purity and a higher face value than other government-issued one-ounce silver bullion coins. Minted continuously since 1988, the Silver Canadian Maple Leaf features an image of Queen Elizabeth II on the obverse and Canada's well-known national symbol, the maple leaf, on the reverse side of the coin. Silver Canadian Maple Leaf bullion coins are available from Monex in units of 100 coins.More Information
First minted in 2015 by the Royal Canadian Mint, the SuperLeaf™ is a 1.5 troy ounce "four-nines" (.9999) fine, legal-tender pure silver bullion coin from the Royal Canadian Mint. We call it, simply, the SuperLeaf™ and it is available in the USA exclusively from Monex. On the coin's obverse is the image of Queen Elizabeth II. On the coin's reverse is the maple leaf image created by Royal Canadian Mint artist and senior engraver Stan Witten. The SuperLeaf™ coin has a face value of eight (8) Canadian dollars and has the same diameter of the standard Silver Maple Leaf (38 mm) but is thicker by half. Monex offers the SuperLeaf™ coins for personal delivery only. These coins are packaged in tubes of 15 coins, and you can purchase what's widely known as a "monster box" containing 20 tubes for a total of 300 coins, or 450 troy ounces of pure silver. Or, you can purchase as few as 60 coins (four tubes of 15 coins) . . . or in any multiple of 60 coins.More Information
The second coin in the Royal Canadian Mint's ''Birds of Prey'' series, Silver Canadian Bald Eagles each contain one troy ounce of 99.99% pure silver bullion. These ''four-nines'' fine legal tender silver bullion coins carry a face value of five Canadian dollars, higher than other government-issued one ounce silver bullion coins. Minted in 2014, a total of just one million Bald Eagles were struck and the Royal Canadian Mint is now officially SOLD OUT of this issue. The coins feature a portrait of Queen Elizabeth II on the obverse, and on the reverse an image of a bald eagle in flight with a fish in its talons. Silver Canadian Bald Eagles are available from Monex in units of 100 coins.More Information
Silver Vienna Philharmonics are pure .999 fine one troy ounce silver bullion coins minted by the 800-year-old Austrian Mint and are nearly identical in design to the widely-popular Vienna Philharmonic gold bullion coin. These beautiful coins feature a range of instruments used by the famed Vienna Philharmonic Orchestra on the obverse of the coin along with the name of the orchestra and the German word for silver, ''SILBER.'' The reverse side of the coin features the image of the pipe organ found in the Golden Hall in Vienna, Austria along with the coin's weight, purity and euro face value. Silver Vienna Philharmonic bullion coins are available from Monex in units of 100 coins.More Information
Circulated Silver Coins Available:
A still-popular way to own silver is with $1,000 face value bags of U.S. silver coins minted prior to 1965. These bags, containing either four thousand U.S. quarters or 10,000 U.S. dimes, weigh approximately 54 pounds each and contain approximately 715 ounces of pure silver. Buying these bags, sometimes referred to as ''junk silver bags,'' offers investors a unique way to hold silver that is easily divisible into very smaller units. The coins are real money – they can never be worth less than their face value – and the coins could be used as money. Monex was one of the first companies in the country to specialize in silver coin bags for investors and continues to offer a buy and sell market in them to this day.More Information
Yet another unique way to own silver coins is via $1,000 face value bags of Kennedy half-dollars minted between 1965 and 1970. These coins were minted with an inner layer of 21% silver and 79% copper, sandwiched or ''clad'' with an outer layer comprised of 80% silver and 20% copper. In total, these coins were 40% silver and 60% copper. Each bag contains 2,000 of these 1965-70 Kennedy half-dollars and approximately 295 ounces of pure silver. In addition, these bags of clad coins have a built-in guarantee – they can never be worth less than their face value, and if necessary, could be used as money. After all, they are genuine U.S. legal tender for circulation. They are easily stored, transportable and divisible.More Information
What is the advantage of silver coins over bars?
Silver coins are preferred for small to medium size investments in this precious commodity. Investors who prefer having silver metal at home, rather than taking delivery at depositories, tend to choose silver coins, while those using bank/depository storage facilities choose bullion bars, gaining the most possible metal for their investment dollars. While coin investment results are nearly the same as bars, the advantage with coins in one’s personal possession is the ability to sell your coins without the cost and delay of an assay. Bullion bars outside the trusted professional dealer network are suspect and when selling bars that you’ve had in your possession, an assay is required to verify its weight and fineness. However, when your bullion bars are stored at Brinks or Farmers and Merchants Bank, using the Atlas account storage services, there are no assay fees required or delivery charges.
How do numismatic “rare” silver coins compare to bullion coins?
Silver is a commodity, whose price fluctuates quite freely in a significant and extremely liquid global marketplace. For the most part, silver bullion coins fluctuate according to their intrinsic metal value. Truly rare silver coins fluctuate irrespective of their melt value, and follow supply/demand factors in relation to their collector popularity, scarceness and historical significance. Monex only offers the finest silver investment coins, but does have an affiliate company, Monaco Rare Coins, specializing in rare coins and other numismatic products for those interested in premier rarities.
How do I know a silver coin is authentic?
Monex guarantees the authenticity and fineness of all of its coins. All silver bullion coins from Monex come from the most reliable sources in the industry, and they are all produced and issued by the most respected government mints. In fact, the Royal Canadian Mint has authorized Monex as one of its Bullion DNA dealers to verify the authenticity of gold and silver Maple Leaf coins in just seconds using a laser-marking and precision radial line technology verification system. Silver bullion coins offer the advantage of being uneconomical to forge, in comparison to the other precious metals or high premium rare coins.
Can I have my silver coins stored?
Silver coins have great weight and volume for your investment dollars, which may present a storage challenge. Most people could not carry $25,000 of silver coins without a wheelbarrow, whereas that amount of gold could fit in the palm of your hand. For this reason, investors of silver coins should take into consideration where they will store their purchase, and is why investors purchasing larger quantities of silver tend to use a bank/depository storage facility. If you choose this type of storage, Monex will deliver your silver coins with full title and ownership in your name to one of the independent bank/depository facilities that provide storage for Monex customers. These bank/depositories include Brinks in New York. When your metal is received by the bank/depository, the custodian of the facility will send you a document acknowledging the receipt and your ownership of the silver being stored in your name.
What coins are most preferred for storage?
The silver coins most preferred for depository storage are the two most popular and liquid coins in the world. The U.S. Silver American Eagle and the Royal Canadian Mint's Silver Maple Leaf are by far the most preferred choices for silver coin storage.
What silver coins can I use for financing at Monex?
Presently, Monex customers can use the U.S. Silver Eagle, Maple Leaf and Vienna Philharmonic silver coins for financing with Monex Credit Company.
What are the top three IRA eligible silver coins?
The Top-3 coins for IRA approved silver are:
- American Silver Eagle bullion coins
- Canadian Silver Maple Leaf coins
- Austrian Silver Philharmonic coins
What is the purest silver coin?
The purest silver bullion coin in the world is the Canadian Maple Leaf, which is a .9999 Fine one-ounce silver coin. The Silver Maple Lead is a Canadian $5 legal tender coin minted and issued by the Royal Canadian Mint, which has the reputation for producing the finest bullion coins in the precious metals market.
What was the first silver coin?
Precious metals as a medium of exchange began developing in the kingdom of Lydia or Ionia in Asia Minor, which was in present day West Turkey, prior to 600 BC. However, the pieces were made of the inconsistent natural mineral alloy “Electrum” containing varying mix of 40-60% gold-silver. It is theorized that their use was recompense for Greek mercenaries, who demanded payment by precious metal at the end of their tour of duty, and preferred it marked to authenticate them. Then, by early 6th century BC, advances in refining made it possible to produce pure gold or silver coins, having a consistent commodity value. In fact, King Croesus, who was king of Lydia until 546 BC, introduced the “double metal standard,” which monetary standard happened to be adopted by a young United States of America, that made gold coins and silver coins to be traded in commerce. The first mass produced silver coins believed to be used as reliable money in wide common trade was in the period of 580-550 BC by Greeks, which were the silver “stater” or “didrachm” of Aegina city, near Athens, struck having an image of a sea turtle.
What was the first silver bullion coins for investment?
The Mexican Silver Libertad is arguably the first silver bullion coins issued for investment, having over one million one-ounce pieces minted in 1982 and also in 1983. Although they were issued by the Mexican Mint, they did not bear a currency value so they are not technically legal tender coins. Arguably, the Monex Silver Eagle was tied for first, because it was struck in 1982 by Canada's government mint, having the Royal Canadian Mint logo affixed, and inscribed in the political-correct French and English. The first legal tender coin issued for the purpose of silver investing was the United States Silver Eagle in 1986, followed by the Canadian Maple Leaf in 1988.
Which silver coins are best to buy?
To rank the best silver coins to buy, consider popularity, quality and liquidation liquidity, which suggests the best for investing purposes. The Top-5 Silver Coins to buy are:
- American Silver Eagle bullion coins
- Canadian Silver Maple Leaf .9999 Fine coins
- Austrian Silver Philharmonic coins
- Canadian Silver SuperLeaf
- U.S. junk 90% silver coins (when surplus dictates premium discount)
What is junk silver?
United States circulating silver coinage prior to 1965 are .90 Fine, meaning they contain 90% silver, plus the remainder in alloy. For decades, $1,000 face value bags traded widely for their commodity value. Silver bags contain either 2,000 halves, 4,000 quarters or 10,000 dimes, and weigh about 54 pounds with approximately 715 ounces of actual silver. The term ''junk silver'' was coined and propagated by Harry Browne in his foretelling book, "How You Can Profit From The Coming Devaluation" published in 1970, which became a sensational best seller. He accurately and convincingly predicted USA closing its gold window and the personal financial utility of silver coins. In the mid 1970s, the term ''junk silver'' stuck as rare coin dealers found that many of their low-grade common-date U.S. coins had little or no numismatic value as compared to the rising value of silver, and were therefore “JUNK!” and literally thrown in the coin counting hopper. Now, any silver coinage from any country worth its melt value is broadly referred to as junk silver. Obviously, U.S. 90% silver bags are anything but junk, and have traded anywhere from ten to thirty thousand dollars in the recent past. For current pricing, go to https://www.monex.com/prods/silver_90.html
What is the value of silver coins today?
Today, the most standard of silver coins are the one-ounce legal tender coins, which are worth about $20 USD. In the recent past, they have traded as low as $15 and shortly reached just over $50. Current buy and sell values for two of the worlds most popular one-ounce investment grade silver coins are as follows.
|The Monex Standard||Atlas Preferred Price|
|U.S. American Silver Eagle|
|Canadian Silver Maple Leaf|
Does a silver coin's purity matter?
For investment purposes, the more pure that bullion coins are they should theoretically be more valued, especially in mass liquidation scenarios where there is a surplus of silver coins coming on the market. For durability in commerce, however, a hardening alloy is preferred to provide added metallic strength. In uses where coin handling or frequent movement is likely, having the best and purest .9999 fine silver may not be an advantage.
What makes up the Silver Coin market?
The “Silver Coin Market” is comprised of two categories, each with generally three levels of interaction. Silver coins can be categorized as either bullion/commodity value coins or they can be coins that trade for their numismatic collectible value. These are distinct and separate markets. Each market has their end investor or collector, or can be called retail, level of participation. Investors of bullion coins and collectors of numismatic silver coins are the foundation for economic demand in the silver coin market. At the other end of the market activity spectrum is the source of products, which is akin to manufacturing and distribution, and constitutes the foundation for supply. For silver bullion coins, new sources come from government mints and their supply chain, while in numismatics, major supply can come from significant numismatic coin industry re-packaging suppliers or a significant collector's mass liquidation. The level between is quite varied and the buying, selling, acquiring and liquidating is quite free and global due to the vast liquidity in both numismatic and bullion coin marketplace. The foundation for the liquidity in the marketplace and the efficiency of pricing is largely credited to active players in the coin dealer network.
How much is the silver in a silver dollar worth?
United States silver dollars, which were issued as currency up to 1935, have nearly 7% per dollar greater silver content than halves, quarters and dimes. Uncirculated Morgan and Peace Dollars contain 24 grams of silver or .7734 troy ounces, which today is worth: $
When did the United States end silver coinage?
The final year that the United States issued silver coinage was the 40% silver Kennedy Half Dollar in 1970. The long history of .90 fine silver halves, quarters and dimes ended classic U.S. 90% silver coinage in 1964. The celebrated American Silver Dollars had long since ended their illustrious monetary history in the silver dollars' final year of issue, 1935. Legal tender U.S. silver coins issued after these dates were not issued as coinage for general circulation, but solely for collector appeal.
How do you know what a silver coin is worth?
To gain a trustworthy appraisal of what a silver coin is worth, you must be an expert or take advantage of the expertise of an experienced silver coin market participant. If you know precisely what the silver coin is, and its precise condition of preservation, you may refer to pricing guides such as Monex Live Prices for the top investor grade bullion coins. Other quality one-ounce bullion coins would very likely be worth quite near those prices. If you have what you believe is a special rarity silver coin, you must seek the knowledge of a numismatic market participant, such as author and rare coin trader Adam Crum at Monaco Rare Coins, who is affiliated with Monex.
What are the best silver coins to invest in?
Most investors invest in silver coins for… silver! Typically, investors are interested in silver for its potential to appreciate, and some times rapidly. Therefore, if you are looking for the most silver for your silver coin investment dollars, the Royal Canadian Mint's Maple Leaf coins should be the best silver coin in the marketplace. Secondarily, investors appreciate the appeal of coins and, if reasonably priced in comparison, will select coins that best meet their fancy, such as the “Made-in-America” Silver Eagle or the impressive Canadian “SuperLeaf™” silver maple leaf coin.
How much should you pay over spot for silver Eagles?
First, compare what a dealer quotes as his “spot” price. Monex prides itself on having the most respected and transparent (singular) spot price in the silver coin industry. The purchasing price, or ask price of the coin over spot, can vary quite significantly according to supply and demand market anomalies, but tends to be about three dollars per coin above spot. Be aware that “over spot” depends on the spot you are using as compared to a reliable spot pricing mechanism. It is easy to discover a benchmark for silver eagle pricing at Monex, where you can see the longstanding Monex Spot pricing and ask prices for Eagles.
How do you buy silver coins?
It is possible to buy silver coins on-line or with full transactional service over the phone with an experienced representative. For the inexperience, or someone making for them a serious investment, it would be preferred to take advantage of all the resource of full service coin dealer. For a short YouTube video on “Buying Silver Coins,” go to: http://www.youtube.com/watch?v=HfqMjesb6Kk&t=57s
How do you invest in gold and silver coins?
When investing in gold and silver coins, the first thing to understand is if you prefer to hold them in your home for safekeeping or have the safekeeping responsibility with a bank/depository. Both home deliver and depository delivery are easy at Monex, and many Monex customers choose both. Investing in coins is simply first selecting your favored coin, which Monex suggests is the most liquid precious metals coins. Next, decide on the size of investment that suits your comfort level. Then, talk to your Monex Account Representative to gain knowledge about the marketplace, important news and events as you desire. Finally, place your order! Placing an order is a simple, over the phone process whereby your Monex Account Representative is right there to fully assist you with any questions.
How much silver is in a coin to be called a silver coin?
For the most part throughout history, silver coins around the globe were half to sterling 92.5% silver. The great silver producer, Mexico, included silver in coinage at less than this. It is fair to say a general rule of thumb, if it is mostly silver, meaning over 50%, it would be likely referred to as a “silver coin.” Even the 40% silver clad Kennedy halves are called silver coins, but if one-tenth of the metal is silver, it would be more akin to being a metal for alloy than being a true silver coin.