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How to Buy Silver Online
Welcome to our online silver buying guide. The guide is divided into how to buy physical silver online and how to buy paper silver online.
Why Should I Buy Silver?
Silver is a precious metal that is priced closer to base metals like copper and nickel than its precious metal cousins like gold, platinum and palladium. According to the Silver Institute, silver demand hit a record in 2013 . The demand was driven by a 76% year over year increase in silver coins and bars. Since silver is also widely used in the growing electronics and solar energy industry many believe that the demand for silver will remain strong.
Silver is also considered to be an inflation hedge against the Federal Reserve’s multi-year multi-trillion dollar money printing program called quantitative easing and its zero interest rate policy.
What Type of Silver Should I Buy?
There are a wide variety of choices when buying silver.
These choices can be divided into physical silver and paper silver.
Physical silver can take the form of silver bullion in the form of silver coins issued by sovereign governments, junk silver, silver rounds, silver bars, hand poured silver, numismatic silver and even silver bullets!
Paper silver can take the form of silver certificates, pooled silver accounts, silver ETF’s, silver future contracts and silver mining shares.
Physical Silver
Silver Coins Issued By Sovereign Government Mints
Many governments mints produce silver coins for collectors and investors. Here are some of them:
Austria
Austrian Silver Philharmonic Coin
Description: Obverse: depiction of the Musikverein, a concert hall that is home of the Vienna Philharmonic Orchestra and the German words “REPUBLIK OSTERREICH” (“Austrian Republic”) and “1UNZE FEINSILBER” (“1 ounce pure silver.”)
Reverse: depiction of an array of musical instruments including a harp, violin, cello, flute, bassoon, and French horn and the German words “WIENER PHILHARMORIKER” (“Vienna Philharmonic”) and “SILBER” (“Silver)
Composition/Weight: 1 troy ounce (31.103 grams)/.999 fine silver
Face Value: 1.50 Euro
Designer: Thomas Pesendorfer
Mint Location: Vienna, Austria (no mint mark)
Years Minted: 2008-present
The Austrian Silver Philharmonic coin was introduced by the Austrian Mint in 2008. The Austrian Mint is a public limited company located in Vienna, Austria and is a subsidiary of the National Bank of Austria. The Austrian Mint’s original primary purpose, prior to the introduction of the Euro in 2002, was to produce shillings for circulation in Austria.
The Austrian Silver Philharmonic is the largest selling silver bullion coin in Europe and has sold well over 50 million from 2008-2013. The Austrian Silver Philharmonic tends to sell at lower premiums than the U.S Silver Eagle or Silver Canadian Maple Leaf.
The Austrian Mint also produces a one ounce gold Philharmonic coin in the same design as the Silver Philharmonic.
Compare Austrian Silver Philharmonic pricing and shipping.
Canada
Canadian Silver Maple Leaf Coin
Description: Obverse: Depiction of Queen Elizabeth II of England
Reverse: “CANADA” “Fine Silver 1 oz Argent Pur” picture of a Maple Leaf
Composition/Weight: 1 ounce/.9999 fine silver; serrated edge
Face value: $5
Designer: Susanna Blunt
Mint Location: Ottawa, Canada
Years Minted: 1988-present
The Royal Canadian Mint (RCM) produces all of the coins for circulation in Canada. The Canadian Silver Maple Leaf was introduced by the RCM in 1988 for collectors.
Through 2013, the RCM has sold over 125 million since 1988 when the Silver Maple Leaf was first issued.
The RCM also produces special issues of the Silver Maple Leaf coin from time to time. Past special issues include Olympic, Wildlife, Chinese Zodiac, Bird of Prey and Canadian Artic coins. These coins sell for premiums above the standard issue silver coins.
Silver Canadian Maple Leaf coins tend to sell at prices higher than the Austrian Silver Philharmonic coins but lower than the U.S. Silver Eagle coins.
The Canadian Silver Maple Leaf is legal tender in Canada but its face value ($5) is far less than the value of its silver content.
The RCM also produces Gold Maple Leaf Coins in various sizes.
Compare Canadian Silver Maple Leaf pricing and shipping.
China
Chinese Silver Panda Coins
Description: Obverse: Depiction of the Temple of Heaven and “中华人民共和国” (People’s Republic of China)
Reverse: Portrait of a Panda
Composition: .999 fine silver
Years Minted: 1983-present
The official mint of the People’s Republic of China has been producing Silver Panda coins since 1983. The Chinese Silver Panda coins are denominated in 3 (¼ Troy ounce) 5 (½ Troy ounce), 10 (1 Troy ounce), 50 (5 Troy ounces), 100 (12 Troy ounces) and 300 (1 Kilogram) Yuan. The depiction of the Panda on the coins changes every year.
Approximately 40 million one ounce Chinese Silver Panda coins have been sold from 1983-2008.
Chinese Silver Pandas tend to sell at the highest premiums of all major government minted silver coins.
The official mint of the People’s Republic of China also produces Gold Panda coins in various denominations.
Compare Chinese Silver Panda pricing and shipping.
United States
American Silver Eagle
Description:Obverse: Depiction of a walking lady liberty, the same design that first appeared on U.S. silver half dollars from 1916-1947, date and the words “LIBERTY” “IN GOD WE TRUST”
Reverse:depiction of a heraldic eagle with the words “1 oz. FINE SILVER – ONE DOLLAR” “UNITED STATES OF AMERICA”
Composition/Weight: 1 oz. pure silver (.9993 silver .0007 copper) reeded edge
Designers: Adolph A. Weinman (obverse) John Mercanti (reverse)
Face Value: $1
Mint Locations: Philadelphia, Pennsylvania, San Francisco, California and West Point, New York Years Minted: 1986 – present
The American Silver Eagle coin is produced by the United States Mint and is the largest selling silver coin issued by any government mint. The United State Mint produces all the coins for circulation in the United States from its Philadelphia, Denver and San Francisco operations.
The U.S. Mint operates a mint in West Point, New York solely for the purpose of producing American Silver Eagles. The United States Mint once also operated mints in Carson City, Nevada (1870-1893) and New Orleans, Louisiana (1838 to 1861 and from 1879 to 1909).
In 2013 the U.S. Mint sold a record 42.675 million American Silver Eagle coins and has sold well over 350 million from 1986 through 2013. Sales of U.S. Silver Eagles in 2014 are expected to equal or exceed 2013 sales.
The American Silver Eagle coin commands among the top premiums of any government minted silver coin.
The United States Mint also produces American Gold Eagle and gold American Buffalo coins for sale.
Compare U.S. Silver Eagle pricing and shipping.
America the Beautiful Five Ounce Silver Coin Series (information coming soon!)
Description: Obverse:
Composition/Weight:
Face value:
Designer:
Years Minted:
Pre 1964 90% Silver or “Junk Silver”
Prior to 1965 the United States minted dimes, quarters and half dollars for every day use that were 90% silver. These coins are valued mainly for their silver content rather than for their numismatic value (although there are many dates and mint marks among these coins that trade for significant premiums over their silver content).
As of this writing in mid 2014, according to Coinflation the silver content value of a dime is approximately $1.50, a quarter $3.77 and a half dollar $7.54.
The decision to remove silver from the United States’ coinage was made under President Lyndon Johnson who warned those who might consider hoarding the silver coins that there would be no profit in doing and that “Treasury has a lot of silver on hand, and it can be, and it will be used to keep the price of silver in line with its value in our present silver coin. There will be no profit in holding them out of circulation for the value of their silver content.”
Pre 1965 Silver Dimes
Composition/Weight: .900 silver/.100 copper (.07234 oz. pure silver)/2.50 grams
Face Value:$.10
Barber or Liberty Head Dime
Description:Obverse:
Designer: Charles E. Barber
Mint Locations: Philadelphia, Denver, New Orleans and San Francisco
Years Minted: 1892-1916
The Barber dime was designed by Charles E. Barber who hit the trifecta as his design was used for the dime, quarter and half dollar! While Barber dimes are valued for their silver content, they command a higher premium than Mercury and Roosevelt dimes because they are older and were minted in lower quantities. The largest mintage of Barber dimes was just 22 million in 1907 compared to 231 million Mercury dimes minted in 1944 and over 2 billion Roosevelt dimes minted in 1964.
Mercury or Winged Liberty Head Dime
Description: Obverse:
Designer: Adolph A. Weinman
Mint Locations: Philadelphia, Denver and San Francisco
Years Minted: 1916-1945
The Mercury dime was designed by Adolph A. Weinman whose depiction of Lady Liberty walking appears on the Liberty Walking Half Dollar and the American Silver Eagle.
Roosevelt Dime
Description: Obverse:
Designer: John R. Sinnock Mint Locations: Philadelphia, Denver and San Francisco
Years Minted: 1946-1964
The Roosevelt dime follows the relatively new practice in U.S. coinage of placing former presidents on the coins. For the entire history of the United States coins with images of the mno moreno
Silver dimes are usually purchased in $1 increments or 10 dimes. A roll of dimes has a face value of $5 and contains 50 dimes.
Silver Quarters
Composition/Weight: .900 silver/.100 copper (.18084 oz. pure silver)/6.25 grams
Face Value: $.25
Barber or Liberty Head Quarter
Description: Obverse:
Designer: Charles E. Barber
Mint Locations: Philadelphia, Denver, New Orleans and San Francisco
Years Minted: 1892-1916
Liberty Standing Quarter
Description: Obverse:
Designer: Herman A. MacNeil
Mint Locations: Philadelphia, Denver and San Francisco
Years Minted:1916-1930
Washington Quarter
Description: Obverse:
Designer: John Flanagan
Mint Locations: Philadelphia, Denver and San Francisco
Years Minted: 1932-1964
Silver quarters are usually purchased in $1 increments or four quarters. A roll of quarters has a face value of $10 and contains 40 quarters.
Silver Half Dollars
Composition/Weight: .900 silver/.100 copper (.36169 oz. pure silver)/12.50 grams
Face Value: $.50
Barber Half Dollar
Description: Obverse:
Designer: Charles E. Barber
Mint Locations: Philadelphia, Denver, New Orleans and San Francisco
Years Minted: 1892-1915
Liberty Walking Half Dollar
Description: Obverse:
Designer: Adolph A. Weinman
Mint Locations: Philadelphia, Denver and San Francisco
Years Minted: 1916-1947
Franklin Half Dollar
Description: Obverse:
Designer: John R. Sinnock Mint Locations: Philadelphia, Denver and San Francisco
Years Minted: 1948-1963
Kennedy Half Dollar
Description: Obverse:
Designers: Gilroy Roberts and Frank Gasparro
Mint Locations: Philadelphia and Denver
Years Minted: 1964 (90% silver) 1965-1970 (40% silver)
Silver Dollars
The most common silver dollars are the Morgan and Peace dollar. These coins were minted from 1878-1935.
Composition/Weight: .900 silver/.100 copper (.77344 oz. pure silver)/26.73 grams
Face value: $1
Morgan Dollars
Description: Obverse:
Designer: George T. Morgan
Mint Locations: Philadelphia, New Orleans, Carson City, Denver and San Francisco
Years Minted: 1878-1904 and 1921
Peace Dollars
Description: Obverse:
Designer: Anthony de Francisci
Mint Locations: Philadelphia, Denver and San Francisco
Years Minted: 1921-1928/1934-35
Silver Rounds by Private Mints
Another way of investing in silver is by purchasing silver rounds by private mints. These rounds are produced by a variety of mints in a wide range of sizes and weights. Silver rounds usually trade at discounts to the prices of government mint issued silver coins. Silver rounds can often be obtained at prices per ounce slightly above the spot price of silver.
Here are some silver rounds for sale:
The Sunshine Silver One Ounce Round from Sunshine Minting.
Sunshine Minting Inc. is a private mint located in Coeur d’Alene, Idaho and was founded in 1979.
The OPM Silver One Ounce Round OPM is a precious metals refiner established in 1974
Other silver round producers include:
Johnson Matthey
Englehard
NTR Metals
Silvertowne
Royal Canadian Mint
Perth Mint
Silver Bars by Private Mints
Silver bars are another popular way to acquire silver. Silver bars are also produced a variety of mints in a wide range of sizes and weights. Silver bars usually trade at discounts to the prices of government mint issued silver coins. Silver bars can often be obtained at prices per ounce slightly above the spot price of silver.
Here are some silver bar choices:
The Sunshine Silver one ounce bar
The OPM one ounce silver bar
Other silver bar producers include:
Pamp Suisee
Johnson Matthey
Englehard
NTR Metals
Silvertowne
Poured Silver coming soon!
Silver Bullets coming soon!
Numismatics coming soon!
Some silver collectors purchase coins with values far in excess of their silver content.
NGC or PCGS Certified investment coins
Rare silver coins
Silver Proof coins
Uncirculated Silver Coins
Commemorative Coins
Paper Silver coming soon!
Exposure to the price of silver can be obtain without taking physical delivery of silver. Here are some paper silver options:
ETFS
Futures
Pooled accounts
Silver Certificates- Perth Mint
Silver Mining Shares- list coming soon!
Considerations coming soon!
counterfeiting
storage and insurance
confiscation
taxes
manipulation
volatility
Should I buy gold or silver? See our gold buying guide (coming soon)
Top Silver Producing Nations coming soon!
About Silver coming soon!
Yearly Mining Production:
Periodic table: AG
Uses:
Smaulgld.com Resources
Gold Buying Guide (coming soon!)
Twelve Ways Silver is Different Than Gold
Silver vs. the Dow
Silver Hits Record Demand in 2013
550 Million Ounces of Silver Were Used in 1964 to mint Dimes, Quarters and Half Dollars
Mexico to Tax Gold and Silver Miners
Is a Gold and Silver Supply and Demand Price Adjustment Coming?
Think the Fed Destroyed the Dollar?
China Hoards its Gold Production, Exports Some of its Silver
The West Sells Paper Gold, While the East Buys Physical Gold
Gold and Silver Price Manipulation
Please also bookmark and visit the gold and silver sections of Smaulgld.com (by clicking above) for more information on these precious metals and the events that impact their prices.
Outside Resources
Silver Institute
Gold and Silver Industry News
Recommended Reading:
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