Silver coins are the most recognisable form of silver bullion. Struck by government mints, guaranteed for weight and purity, and identifiable on sight by any dealer in the world, they are the easiest silver to sell and the most common starting point for a new buyer.
They also cost more per ounce than bars or rounds. Here is what you get for that.
What makes a coin a coin
A bullion coin is issued by a government mint and is legal tender with a face value. The face value is nominal and bears no relation to the silver content, but the sovereign issue means a national mint stands behind the stated weight and fineness.
That backing is the whole point. A privately minted round of identical weight and purity contains the same silver, but carries no sovereign guarantee, and a buyer who does not know the mint has to take more on trust.
The coins we stock
Canadian Silver Maple Leaf. Royal Canadian Mint, 9999 fine, among the purest bullion coins issued. Widely traded and instantly recognised.
Austrian Philharmonic. Austrian Mint, 999 fine. Europe's most traded silver bullion coin, with the orchestra design unchanged for decades.
Britannia. Royal Mint, 999 fine. Modern issues carry surface security features that make counterfeiting substantially harder.
Australian Kangaroo. Perth Mint, 999 fine, with an annually changing reverse design. Available individually or in mint tubes of 25.
American Silver Eagle. US Mint, 999 fine. The most widely held silver bullion coin in the world, which supports strong liquidity.
South African Silver Krugerrand. 999 fine, the silver counterpart to the best known gold bullion coin.
Pacific Sovereign. 999 fine, a one ounce silver coin.
We also carry the 2023 Samoa Vermilion Bird for buyers who want something less common.
Why coins cost more
Striking a coin to sovereign standards, with detailed design work, quality control and often security features, costs more than pouring a cast bar. That production cost sits in the price.
The effect is proportionally larger on silver than on gold. The cost to strike and package a one ounce coin is broadly similar for both metals, but silver is worth a fraction of gold per ounce, so the same fixed cost is a much bigger share of the final price. Our guide to the premium over spot covers the mechanics.
What you get for it is recognition, which usually means a tighter gap between the buying and selling price when you come to sell.
Tubes and single coins
Silver coins are issued in mint tubes, commonly 20 or 25 coins depending on the mint. Buying a full tube is normally cheaper per coin than buying singles, and the sealed tube protects the coins from handling and air.
If you buy a tube, leave it sealed until you need to open it. Coins inside an unopened mint tube stay in better condition than loose coins.
Handling
Silver marks easily. Handle coins by the edge, since fingerprints leave oils and salts that show over time. Use PVC free capsules for individual coins. Do not clean or polish silver, as tarnish is a surface reaction that does not affect the silver content, while polishing removes metal and leaves permanent marks.
Our storage guide covers this in more detail.
Frequently asked questions
Which silver coin is best to buy?
For liquidity, the most widely traded sovereign coins are the American Eagle, Canadian Maple Leaf and Austrian Philharmonic. All are recognised globally.
Are silver coins better than silver bars?
Coins are more recognisable and easier to sell in small amounts. Bars give more silver per dollar. The right answer depends on whether you value flexibility or weight.
What purity are silver bullion coins?
Most are 999 fine. The Canadian Maple Leaf is 9999.
Should I buy a tube or single coins?
Tubes are usually cheaper per coin and protect condition. Single coins suit smaller purchases and gifts.
Does it matter which year a coin is?
For bullion purposes, generally not. The silver content is what matters. Some years carry collector interest, which is a separate market.
Browse silver coins
We stock sovereign silver coins individually and in mint tubes. See the range or visit the showroom at 124 Peterborough Street, Christchurch. For the wider picture, read our silver buying guide.