Looking to buy my First Silver Coins. Is this a good coin to start with or should i go with something else Do the prices change due to the year on the Maples? Thanks Rob
Welcome to CT, Rob! Hope you enjoy it here. The answers to your questions are "Depends", and "Depends". *heh* In MY opinion, yes, the Silver Maples are great silver coins. They frequently sell for a very low premium over spot silver price, they're denominated at $5 instead of $1 in the country of issue (Canada), they're .9999 instead of .999 (no, that DOESN'T make any significant difference, but it looks cool *heh*) and, finally, I think they're gorgeous...prettiest silver bullion coins made, in my opinion. This isn't to say others are somehow unworthy...merely that, in my view, the SML's are a top notch choice for silver bullion. Will their price change depending on year? Sure, it can. These coins are like any other. Rarity, condition, and demand drive the price. If there were many millions minted, or if the coin is somehow damaged, worn, discolored, or otherwise 'off quality', then they're unlikely to EVER bring much of a premium. On the other hand, if few were minted (such as the 1997 SML, with just over 100k made), and you seek one in high grade, you can expect to pay a 50%-100% premium over spot, and SEVERAL times more than their original cost. NONE of the coins are likely to go "through the roof" as it were, and turn into multi-thousand dollar investments, simply because their existence is too well known, and being an uncirculating coin, high grade examples will be readily available. One last bit of commentary...if you're interested in a silver bullion coin with a potential upside, I recommend the current "Silver Wolf"...it's the first coin in the Canadian Mint's "Wildlife Series" of silver maples. Same physical characteristics as the standard maple, but the mint's limited production to 1,000,000 of each type, and the wolf is the first of what is said to be a set of at LEAST 6. If there's a likely premium to be realized on any current bullion coin, I'd probably have to wager on that one. The only other possibly likely candidate might be the US Mint's 2010 Proof Silver Eagle, due to some speculation that mintage will be low, and demand high owing to the absence of a proof ASE last year. You will, however, pay a fairly high premium from the get go for the proof strike. You can read more about that particular coin and the current situation in this thread.
Thank you that helped alot. Silver Eagle or Canadian maples sounds like to me your saying, i should buy a few of both and maybe one or two of the wolfs am i right?
Rob: Welcome to CT! Check out the new 2011 silver Canadian Timber Wolf. Here is a link to a reputable dealer: http://www.providentmetals.com/2011-canadian-silver-wolf-1-oz-9999-fine.html Also, do not forget my favorite silver bullion coin...the American Silver Eagle. TC
I'm never ever going to tell someone their bullion plans are "right" or "wrong". This IS an investment, after all, and there's no way of being certain about anything. Having said all of that, I personally can't think of anything wrong with such a plan. Do not, however, take my mention of only those two as a condemnation of other popular silver products. Nothing wrong with Silver Pandas, Philharmonics, Kookaburras, Koalas, or even 90% US Junk silver. Each have their good points and bad, and each have an appeal to various collectors. For that matter, there's even private mint silver rounds, which have even different advantagves and disadvantages than any of the items mentioned above. What I DO strongly recommend is that you check out: http://www.providentmetals.com and http://www.apmex.com Both have excellent reputations in the numismatic community for fair prices, good service, and quality products. I've dealt with both personally, and would not hesitate to do so again. A little time spent on their webpages can offer a lot of education about the various types of bullion coins out there.
