If you’re getting involved in silver investing, you might realize there’s more than one type of coin. Most investors debate whether the Silver American Eagle or Canadian Maple Leaf is the better way to buy silver. The latter is better, however, and this post will tell you why.
Why Canadian Maple Leafs are an Ideal Investment
Issued by the Canadian government, maple leaf coins are considered legal tender. They’re generally priced around $5 Canadian dollars – much higher than the US eagle. However, these assets are mostly viewed as an investment in silver and are valued at that market price.
The Maple Leaf is made up of 99.99% silver, .09% more than the Eagle, making it one of the world’s finest silver coins. They weigh close to 31.1 grams. If you’re ordering a stack of the Maple Leaf coins, the box holds 20 tubes, each holding 25 coins.
The Eagle is much more popular than the Leaf, partly due to the American population being significantly bigger. Also, there are over 400 million Eagles in existence. The Maple Leaf only has about half of that in circulation. This is a good thing for the latter, however, as it’s much rarer. That rarity can (and does) contribute to a higher value.
Conversely, the Eagle is in such high demand in the US that it’s actually more expensive to acquire at times. This makes the Leaf even more of an appealing investment to those diversifying their silver holdings.
Basically, each Maple Leaf is made up of a whole ounce of pure silver, which is quite appealing to investors. They’re 3.29 mm thick and feature a design of the maple leaf on one side. The Leaf is the national symbol of Canada, which is why. Queen Elizabeth II is on the coin’s other side. Interestingly, there are three different types of her head on different coins. They range from her younger self, an adult version, and an older aged Queen.
As for use case, investors can place Canadian Maple Leafs in their IRA for long-term holding. This way, they can avoid taxes associated with owning these metals traditionally. From there, they can accept their IRA payout in cash or even in the coins once again. It’s entirely up to the investor.
History of the Maple Leaf
The Royal Canadian Mint issued the first-ever Maple Leaf in 1988. For collectors, there have since been many special and commemorative editions of the coin. For example, a 20th-anniversary coin exists, released in 1999. Then, there was a fireworks celebration coin released in 2000.
Some Maple Leaf coins are only available in Europe as well, despite being minted in Canada. These are often gifts to mints in other countries. There was even a set of coins representing all of North America, called the Legacy of Liberty. Sometimes, the mint will even release coins in memoriam of world events like the Titanic and D-Day.
There are hundreds of coins to collect, each with its own value. Savvy investors will seek out the rarest ones and hold them as they appreciate in value.
Hopefully, you understand the pros of investing in the silver Canadian Maple Leaf. It’s a coin with tons of history, loads of value, and various use cases at that. On top of that, they’re fairly easy to acquire and are one of the finest silver coins in the world. Collectors have a ton of versions to find, while traditional investors can still enjoy profit with more common coins.
Of course, all investments are speculative. Keep that in mind when putting money into this asset.