Silver Coins
September 2nd, 2008Silver coins are possibly the oldest mass form of coinage. Silver has been used as a coinage metal since the times of the Greeks. Their silver drachmas were popular trade coins.
Many factors determine the value of a silver coin, such as its rarity, age, condition and the number originally minted. Silver coins coveted by collectors include the Denarius and Miliarense.
Other than collector’s silver coins, silver bullion coins are popular among people who desire a “hedge” against currency inflation or store of value. Silver has an international currency symbol of XAG under ISO 4217.
Before 1797, British pennies used to be made out of silver while the ancient Persians used silver coins between 612-330BC.
Most common silver bullion coins, preceded by minimum guaranteed purity, and the year of introduction:
- 99.99% 1988 Canadian Silver Maple Leaf
- 99.90% 1982 Mexican Silver Libertad
- 99.90% 1983 Chinese Silver Panda
- 99.90% 1986 American Silver Eagle
- 99.90% 1990 Australian Silver Kookaburra (minted by the Perth Mint)
- 99.90% 1993 Australian Silver Kangaroo (minted by the Royal Australian Mint)
- 99.90% 2008 Austrian Silver Vienna Philharmonic
- 95.80% 1997 British Silver Britannia (from 1997, proof version only. Public issue from 1998)
Silver rounds
Privately minted silver coins are known as silver “rounds” and silver “bars”, which usually have a set weight of 1 troy ounce of silver (31.103 grams of 99.9% silver). These carry all sorts of designs, from assayer/mine backed bullion to engravable gifts, automobiles, firearms, armed forces commemorative, holidays, etc.
