Goldmart.com, Gold, Silver & Platinum Dealers, Carson City, NV
 

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 Silver Coins

Silver Coins

Silver Coins

Buy Silver Coins

Silver coins are the change of precious metals if gold coins are the bills.  Circulating silver coins were the preferred specie for millennia in everyday transactions due to its relative value to gold which has historically varied from 15:1 to 100:1.  This gold-to-silver ratio is a quantitative measure of the amount of silver units necessary to acquire one gold unit. Just as one $100 bill could be broken down into one hundred $1 bills, one gold coin could be broken down into one hundred silver coins if the gold-to-silver ratio were 100:1.  The functionality of silver coins today has since transcended day-to-day commerce to become brilliant uncirculated investment bullion purchased to store wealth, hedge against inflation, and mitigate risk.

What exactly is a silver coin and how does it differ from a silver round?  A silver coin is legal tender issued only by sovereign mints for all debts public and private and may or may not be ascribed a face value.   Silver coins are a store of value and are not circulated in monetary transactions since the intrinsic value of the precious metal content is always worth significantly more than its face value.  Private refineries are prohibited by law to mint monetized coins and instead fabricate generic silver rounds with the same weights and purities as coinage, but without legal tender status.

Buying silver coins allows investors to acquire a real form of money in lieu of fiat currency.  Investors select the brand, purity, and weight of silver coins from Goldmart’s diverse product portfolio.

Silver Coin Brand

Silver coins are annual series issued by sovereign mints and backed with government guarantees.  Private refiners are legally precluded from minting coins and alternatively issue generic rounds.

It is important to buy monetized silver coins that are produced by established mints of stable nations.  The 1 oz Austrian Silver Philharmonic Coin is produced by Münze Österreich of Austria.

Some mints issue multiple series for investors or collectors.  The Royal Canadian Mint issues its investment Silver Maple Leaf series and its collectable Silver Predator mini-series.

Some mints change the design of the coin with each annual issuance.  China Gold Coin Incorporation features a new design on its 1 oz Chinese Silver Panda Coin each year.

Silver Coin Purity

Pure silver coins are minted with investment-grade silver that has a millesimal fineness of either .999 or .9999 fine.  These figures indicate an assay measurement of either 999 or 999.9 silver parts per each 1000 parts of material. Alternatively, the purity of silver coins can be expressed as a percentage by weight: either 99.9% or 99.99% of the total mass is pure silver.  Many coins are minted with .999 silver including the 1 oz American Silver Eagle Coin while few coins are minted with .9999 silver such as the 1 oz Australian Silver Kangaroo Coin. Any resultant effects caused by a difference of the purities is immaterial. For instance, it does not affect prices.  The purity selected is only a preference of the investor when buying silver coins.

Silver Coin Weight

Silver coins are minted in a variety of sizes measured in metric grams or imperial troy ounces.  There are 31.103 grams in 1 troy ounce and 32.15 troy ounces in 1 kilogram. Silver coins are minted in weights as small as 1/20 troy ounce, such as the Mexican Libertad, to as large as 1 kilogram, such as the Australian Koala.  However, the most popular size is 1 troy ounce.

One troy ounce has multiple meanings depending on the mint describing the weight.  The United States Mint specifies the 1 oz American Silver Eagle Coin has a gross weight of 31.103 grams with only 31.072 grams of pure silver.  The Royal Canadian Mint specifies the 1 oz Canadian Silver Maple Leaf Coin has a gross weight of 31.110 grams with at least 1 troy ounce of pure silver guaranteed.  However, the accepted weight of pure silver remains that stated on the coin regardless of immaterial differences in actual weight.

Silver Coin Prices

The price of a silver coin is the sum of two amounts – the melt value of the silver and the total premium cost of the product.

The melt value is calculated by multiplying the stated weight of the silver coin in troy ounces by the intraday spot price of silver traded on commodity exchanges such as the COMEX/NYMEX.

The premium is the cost in excess of the spot price of one troy ounce of silver and includes overhead expenditures and profits of mints, wholesalers, and retailers.  While the spot price at any given time is the same for all products, the different premium costs of products may be the determinant factor used by investors when selecting silver coins to buy.

Silver Coin IRA

Investors are permitted to buy silver coins for self-directed precious metal IRAs that meet IRS requirements.  The Internal Revenue Service stipulates the minimum millesimal fineness of silver bullion must be at least .999 fine, a purity of 99.9%.  Also, the silver coins must be sovereignly minted by a stable nation. All silver coins available to buy from Goldmart are eligible for inclusion in precious metal individual retirement accounts that have been funded by either contributions or by IRA or 401(k) rollovers or transfers.