You’re not the only one in search of strategies to guard your valuable resources. Many people prefer to opt out of financial institutions for a safer storage option. Banks and the like are becoming more unstable, and the desire for near-pure physical precious metals is on the rise. One of the few timeless items with actual worth is silver coins.
Today, we’re taking you through which Canadian coins are silver, their history, and how they can fit into your strategy to protect your assets.
What To Know About Canadian Silver Coin History
For over a century, The Royal Canadian Mint (RCM) has produced silver coins, which are known for their high purity and artistry.
In 1858, Canada started printing its own currency to replace the British currencies used in early years. It was a change that opened the door for financial independence and produced a legacy of silver coins that smart purchasers and collectors still seek today.
Canadian silver coins have a long history of beauty, history, and precious metal content, from early sterling silver coins to the famous Maple Leaf series. The historical significance of each coin provides you with a better understanding of whether adding these coins to your physical silver portfolio is a good idea.
What Are Some Canadian Coins With Silver Content (1858-1968)?
Some of the most desired of all Canadian coins are those produced between 1858 and 1968, thanks to their silver content. These coins weren’t collector coins, mind you.
They were everyday currency with real silver content, and that’s what made them valuable, something modern coins can’t do. So, to start with, let’s look at the different types of silver coins according to their purity levels.
Sterling Silver Coins (92.5% Silver Content)
Silver coins minted in the early years of Canadian minting contained 92.5% silver, or “sterling silver.”
These coins were among the highest-purity silver coins used in circulation:
- Five-Cent Piece (1858-1919): Its small size and distinctive shine have sometimes seen it referred to as the “fish scale.”
- Dime (1858-1919): For over six decades, it has been used in everyday transactions.
- Quarter (1870-1919): You could see they had intricate designs that changed over time, but they were still sterling silver.
- Half Dollar (1870-1919): It was a larger coin that had a lot of silver weight, and that makes it a standout for collectors today.
These coins are a reflection of the time’s dedication to creating high-quality currency with real value. Due to their purity of 92.5%, the silver content and historical significance make them quite prized in collector circles.
Post-World War I Adjustment Coins (80% Silver Content)
Following World War I, Canada, like many other countries, changed its currency to save resources. In 1920, the silver content in circulating coins was reduced to 80%.
These include:
- Five-Cent Piece (1920-1921): Silver was used in five-cent coins until these years when it was replaced by nickel.
- Dime (1920-1967): A piece of Canadian change that was familiar and retained 80% silver content for nearly five decades.
- Quarter (1920-1967): Even though their silver content was reduced, this coin remained an everyday staple with intrinsic value.
- Half Dollar (1920-1967): Still larger and heavier and a popular choice for silver coin collecting today.
- Dollar Coin (1935-1967): The silver dollar was introduced in 1935 and became a symbol of Canadian pride and a favorite of those looking for larger silver coins.
This shift was borne by reflections of global economic changes — but even with this decrease, the coins still offered quite the significant silver value. It’s why they continue to be sought after by collectors to this day.
The Last Hurrah for Circulating Silver (Coins with 50% Silver Content)
The Royal Canadian Mint lowered the silver content of dimes and quarters to 50% in 1967. This was the start of the end for silver in Canadian circulating coins.
- Dime (1967-1968)
- Quarter (1967-1968)
In 1968, silver was no longer used in everyday currency, and Canadian coins switched to base metals. Although these 50% silver coins obviously have less precious metal than their 80% or 90%+ counterparts, as far as silver goes, these should be collected as one completes their silver coinage timeline.
Understanding the purity levels and knowing when a Canadian silver coin was minted allows you to spot valuable and important pieces. You’ll have the knowledge to make smart decisions of physically adding silver to your assets; you’ll know what you are getting and its value.
These coins have real value, whether it’s a five-cent fish scale or a silver dollar from the 1960s. And that’s something modern base metal coins just don’t have.
Do Any Modern Canadian Coins Contain Silver?
Although silver is no longer in Canada’s circulating coins, the RCM still creates beautiful silver coins for collectors and buyers who are interested in physical precious metals.
Unlike the silver coins of yesteryear, these modern coins aren’t used in day-to-day transactions but are instead bullion-grade or commemorative and made with extreme attention to detail and high purity.
The Canadian Silver Maple Leaf Coin
The Canadian Silver Maple Leaf is one of the best modern silver coins. This coin was first issued in 1988 and quickly became highly recognized (and sought-after). It looks great, it’s pure, and it’s trustworthy.
- Purity: One of the purest silver coins available anywhere, the Silver Maple Leaf is .9999 fine silver (99.99% pure).
- Design: The reverse side features one intricately detailed maple leaf, Canada’s most iconic symbol. The obverse features the profile of Queen Elizabeth II as of 2024. But her passing means that future coins will be redesigned.
- Global Recognition: Its outstanding workmanship and purity have given the Silver Maple Leaf worldwide trust and respect.
Whether you want to add precious metals to your portfolio or just want a beautiful piece of Canadian history, the Silver Maple Leaf coin is a fine choice. It is popular for anyone who values physical silver because of its purity and prestige.
Canadian Silver Coins Commemorative
In addition, the Royal Canadian Mint produces limited-edition silver coins to mark important events, Canadian achievements, and cultural icons. Particular coins are designed to capture a moment in time, and they accomplish this with beautiful art.
- Cultural and Historical Themes: Silver coins commemorating major anniversaries, historical figures, and Canadian wildlife are common.
- Limited Mintage: Because of limited production runs, many of these coins have appeal and collectability.
- High Purity: As with the Silver Maple Leaf, commemorative coins are usually struck in 0.9999 fine silver, further demonstrating the RCM’s pledge to deliver a premium coin.
Whatever coin celebrates Canada’s natural beauty or honors Canada’s heritage, it symbolizes Canadian legacy. Because they are made of fine silver and have unique designs, they are a good choice for anyone who wants to add something important and real to their collection.
Regardless of whether they are bullion or commemorative coins, modern Canadian silver coins reveal the Royal Canadian Mint’s finest work and commitment to superior quality. When you choose coins like the Silver Maple Leaf, you’re getting silver, but you’re also holding a piece of history in your hands.
Secure Your Future With Silver
By understanding which Canadian coins have silver, you’ll know which ones make smart buys in an uncertain economy. Historically, silver coins have some value, but they’re also a tangible way to protect your assets from financial instability.
Their intrinsic value stands the test of time, and whether you buy them for a Gold IRA or to have them for your peace of mind, they will always be a valuable asset.
And if you’re ready to explore your options, American Hartford Gold is ready to help. Find out today how silver coins can become part of your long-term strategy.
Sources:
Canada Silver Quarter (1870-1919) – Coin Melt Values | NGC
Canada Silver Dime (1920-1967) | NGC
Canada Silver Dime (1967-1968) – Canadian Coin Melt Values | NGC