Buying Silver Coins

    Published: 06-16-2009
    Views: 10,635
    Mike Maroney, Vice President at Monex Deposit Company, discusses how to buy silver coins.

    Michael Maroney: Hi! This is Mike Maroney, I am the Vice President at Monex Deposit Company. We are talking about how to buy gold and silver. So let's talk about how to buy silver coins. Silver coins are pure silver rounds minted by governments that are actually legal tender as far as cash values it concerned.

    The most popular silver coins are the Canadian Maple Leaf, the American Eagle and one of the new silver coins is the Austrian Philharmonic. Now needless to say most people when they purchase these coins are not purchasing them for the face value, they are purchasing them for the bullion value. But they are legal tendered coins.

    Now, each one of these coins has exactly one once of silver. Unlike gold coins, silver coins do not come in smaller versions. One other thing to keep in mind when you think about silver bullion coins is the fact that we actually have silver coins that were minted by the US government.

    Now these coins are not pure silver coins, we actually have 90% silver coins; some people like to call them junk silver, 90% silver in each one of these coins. Normally these coins are sold in bags and the bags actually have one thousand dollar worth of face value coins in them.

    Now we also have coins that were minted after 1964, they are Kennedy Halves and they are 40% silver coins and they actually have two hundred and ninety five ounces of silver in each face value bag of one thousand.

    There you have it that should help you get started as far as purchasing silver bullion coins.