The Canadian Silver Maple coin was first released in 1988 and has since become a highly recognizable bullion coin.
The Canadian Silver Maple stands apart from most other silver bullion coins with a classic design and an exceedingly high metal purity. These coins have been minted annually since 1988, and have increased in popularity. Here, we answer some of the most frequently asked questions about the Silver Maple.
What is a Canadian Silver Maple?
First minted in 1988, the Canadian Silver Maple Leaf is a silver bullion coin that is produced by the Royal Canadian Mint and issued each year by the government of Canada. It features an effigy of Queen Elizabeth II on the obverse, but is best known for the distinctive maple leaf on the reverse. The Silver Maple consists of .9999% fine silver, which makes it a great investment for those interested in precious metals.
What is the difference between a Canadian Silver Maple and American Silver Eagle?
American Silver Eagle coins are only .999% silver versus the .9999% of silver in the Canadian Maple Leaf. Although the Canadian Maple Leaf has a higher metal purity, they have a greater tendency for milk spots, which can make them less attractive to collectors. American Silver Eagle coins also sell for more within the United States.
How many Silver Maples are minted each year?
In 1988, the first year of production, there were around 1,000,000 coins minted. Since then, the release rate has continued to rise from between 500,000 to 1,000,000 each year between 1990 and 2005, 2.5 million in 2006, and over 17 million minted in 2010 and each year thereafter.
How much is a Silver Maple worth?
The face value of this coin is $5 Canadian, which is the highest value of any comparable silver bullion coin on the market. The value to a coin collector, however, varies by coin, mint year, and the current spot price of silver.
Are Silver Maples legal tender?
They are legal tender and, therefore, an accepted form of payment in Canada. It is currently not advisable, however, to use Silver Maples as currency since the value of the silver in the coin greatly exceeds the face value of the coin.
Are Silver Maples taxable?
These coins, like others that are bought and sold for less than $1,000, are tax exempt in Canada. In the United States, individuals may be subject to Capital Gains Tax if they sell coins for a profit.
Are Silver Maple Leafs a good investment?
These coins are an excellent investment for a number of reasons. Canadian Silver Maples have the highest purity of any government minted silver coin - and their purity and weight are certified by the Canadian government.
Where are Silver Maples minted?
They are minted by the Royal Canadian Mint in Canada.
Where can I buy and sell Silver Maples in the United States?
There are numerous options when it comes to purchasing silver bullion coins. The Internet is a great resource and brick-and-mortar coin shops can be of great value to the collector as well.
If you are considering making a Canadian Silver Maple coin your next investment piece, Provident Metals has a wide selection for you. Browse our Silver Maple inventory or check out or Knowledge Center for more information about investing in these beautiful silver bullion coins.