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When choosing coins for precious metal investments, it's best to focus on examples that meet several important criteria. First and foremost, these are coins whose value is as close as possible to the price of the metal they contain. These are known as pure bullion coins.
| Term | Description |
| Bullion Coin | A coin whose value is determined primarily by the cost of the precious metal it is made from. |
| Premium (markup) | The additional cost of a coin above the price of the metal it contains, which includes production and distribution costs. |
| Milk spots | Whitish spots that can appear over time on the surface of silver coins due to specifics of the manufacturing process. |
When choosing coins for precious metal investments, it's best to focus on examples that meet several important criteria. First and foremost, these are coins whose value is as close as possible to the price of the metal they contain. These are known as pure bullion coins.
Other important parameters are the presence of reliable anti-counterfeiting features and a reasonable additional cost, or premium. Understanding these terms is key for an investor.
Below is a ranking of the top five silver bullion coins, compiled based on these criteria, as well as their design and quality.
Fifth place in the ranking is taken by the Austrian 'Vienna Philharmonic' coin. This coin is an annual issue and has one unique feature—a face value of one and a half euros. The coin's design is dedicated to the famous Vienna Philharmonic Orchestra.
The main drawback of this coin is its smooth edge. This simplifies the production technology, which lowers the premium and makes the coin more accessible to investors focused solely on silver weight. However, because of this, the coin loses its aesthetic appeal, resembling a simple metal disc.
Another serious problem with the 'Philharmonic' is its high susceptibility to 'milk spots.' Although not all coins suffer from this defect, there have been cases where entire tubes of coins were sold with such spots. The combination of these drawbacks places it in fifth place in this ranking.
In fourth position is the legendary coin from South Africa—the 'Krugerrand.' Originally, this coin was minted in gold and has a rich history associated with the discovery of large gold deposits in the late 19th century and the founder of the South African Mint, Paul Kruger.
The coin's design is quite simple but recognizable. The obverse features a portrait of Paul Kruger, and the reverse shows a springbok antelope. The coin's field looks somewhat empty, which may not appeal to everyone. As an anti-counterfeiting feature, the reverse includes a micro-engraving of the coin's name.
Unfortunately, 'Krugerrands' are also prone to defects. In addition to 'milk spots,' they sometimes have small black dots, which are a manufacturing flaw. These shortcomings prevent the coin from ranking higher.
Third place goes to the 'Australian Kangaroo' from the Perth Mint, which is famous for the impeccable quality of its products. This coin has the highest silver purity—four nines (9999)—and a face value of one Australian dollar.
The coin's design includes radial lines emanating from the central image, which serve as a security feature. However, despite the mint's high reputation, bullion 'Kangaroos,' which are supplied in tubes without individual capsules, periodically suffer from 'milk spots.'
The premium over the metal's value for this coin is considered reasonable, making it an attractive investment. Nevertheless, the risk of defects is a significant drawback.
Second place is taken by the 'Britannia' coin, issued by the Royal Mint of Great Britain. This specimen stands out for having some of the most advanced anti-counterfeiting features, making it extremely difficult to forge.
The security system includes several layers:
Despite such a high level of security, the coin has two significant drawbacks. First is the common problem of 'milk spots,' which is characteristic of Royal Mint products. Second, many are put off by the portrait of an elderly Queen Elizabeth II on the obverse. These factors prevent the 'Britannia' from becoming the top coin in the ranking.
The leader of the ranking is the Canadian 'Maple Leaf.' It is a legendary coin with over 30 years of history, enjoying immense popularity worldwide. It combines a beautiful design, a high degree of security, and excellent quality.
The 'milk spot' problem, which previously affected this coin as well, was solved by the manufacturer after 2017-2018 through the implementation of a new production technology. Modern issues are virtually free of this defect. The coin has a high silver purity of 9999 and a face value of 5 Canadian dollars.
Reliable security is provided by radial lines on the field and a laser micro-engraving in the shape of a small maple leaf. The combination of the absence of 'milk spots,' excellent security, beautiful design, and a reasonable premium makes the 'Maple Leaf' the best choice among silver bullion coins.
