The best type of silver coin for you to buy will largely depend on your goals and plans with silver bullion. All things considered, there are less than 10 primary coins in the whole world. Now, there are many different coins that are less popular, but the most common coins come from the United States, Canada, China, Austria, Mexico. Choosing which type of coin to buy will depend on your budget, whether you want highly collectible coins, and even where you are from. For example, the United States eagle is most popular in the US, while the Canadian Maple Leaf is most popular in Canada.

The premium that is added on coins is derived from the collectible value. All coins have an inherent value that is based upon the amount of gold or silver bullion that is found within them. The only reason that a coin costs more than the spot price of silver is because collectors and investors have a higher demand for the coins that are issued in limited quantities. The amount of coins that are minted one year will almost certainly be different than the amount that are minted the next year. This is the reason why some coins from certain years will be harder to find than the coins from other years. In addition, some other common factors in the price of coins are errors, variables in design, proofs, and coins that are in exceptionally good condition. Now that you know a little bit about silver coins, we are going to explain that which type of coins are best depending on whether you are a collector, an investor, or both.

Best Type of Silver Coins for Investors

The majority of investors really don’t know what they’re looking for until they get little bit of experience in silver coin market. The single most popular silver coin is the American Eagle. This is due to a variety of reasons. First, the American Silver Eagle is almost always produced in larger quantities than any other coin in the world. In addition to this, the coin also comes from the United States, of course, which has one of largest populations of coin collectors anywhere. If you are a brand-new investor, the American Eagle would be a great place to start.

The closest relative to the American Eagle, in terms of popularity, is the Canadian Maple Leaf. These coins feature much lower mintages on an annual basis, but their premiums are right around the same as what you will find with an Eagle. The third coin to go after would be the Chinese Panda. Though it may come from a completely different continent, it is extremely popular among investors and collectors alike. These choices would be considered the easiest way to get into investing in silver coins. This isn’t to say that they don’t offer great returns, because the most certainly do, but they will be the easiest to both buy and sell. Many dealers, especially brick-and-mortar dealers, will only have American Eagles in stock. The more abstract the coin is that you are looking for, the harder it will be find.

Best Type of Silver Coins for Collectors

Collectors don’t really need anyone to tell them what type of coin to buy, because after all, the goal of collecting is to buy what you like. If you’re new to collecting and don’t know what to buy, however, your initial advice will be very similar to what is given to investors.

Start off with the coins that are most common and easy to find. This will not only save you money, will save you a lot of time and hassle. There is no point in going after truly rare coins when you’re just starting out. If you’re a collector of extremely rare coins, you’re going to end up paying very high premiums on every item you buy. Aside from putting a dent in your wallet, this could also cost you even more if you overpay. Dealers always aim to make a profit on any item that they’re selling, so you should make sure that you are paying right around the fair market value. The best way to ensure that you are paying the right price for your coins is to check at popular online silver companies, or to view completed sales from across the Internet.

Though silver coins are widely regarded as one of the easiest and most widespread ways to get into silver bullion investing, they are certainly not the only way to go about acquiring metal. Silver bars and even silver rounds are great alternatives that will carry little to no premiums whatsoever over the spot price of silver. Coins are popular partially due to their unique designs, their scarcity, their collectibility, and because they can be used as actual currency. If your goal as a buyer is to only make an investment, and you do not feel that it is worth paying a premium over the spot price of silver, coins are not what you should be looking at. Instead, bulk up on silver bars and silver rounds. These will offer the same amount of actual bullion, but without the added prices.