Compare Silver Coin Prices
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Looking to Buy Silver Coins Online?
At Gold Silver Insider, we scour the web to find the most popular silver coin series and return them here with prices from all the top dealers. This allows you to easily find the most popular silver coins at the lowest price!
What is a Silver Coin?
A silver coin is a coin minted by a Government Mint. Silver coins carry face values backed up by that respective Government. For example, US Silver Eagles contain a face value of One Dollar. While the Canadian Silver Maple Leaf coin carries a face value of 5 Dollars. Now you will probably never use a silver coin for it’s face value. However, that is the most distinctive characteristic that sets them apart from their Silver Round counterpart.
Typically speaking, Silver Coins are also of higher quality strikes than silver bullion rounds.
Silver Coins Value
Where do silver coins get their value and why is the price different for each silver coin? To be clear, there are two prices to consider when looking at any particular silver coin. There’s the silver spot price and there’s the premium price for that particular product. The silver spot price is set by the market, not the dealers. The dealers control the premium price. This premium prices explains the difference in the price of coins.
So who sets the premium price? Well, there are really three main layers. First is the mint itself. The Mint that produces the coins sets a premium price for their specific coins and sell them to the wholesalers at that premium price. For example, the US Mint sells silver eagle coins to their authorized purchase network at spot + $2.00. So the premium is $2.00 over spot. Then, the second controller is the wholesaler. The wholesaler buys them at +2.00 over spot and may mark them up to +$2.20 and sell them to the retailer. So then, thirdly, the retailer is the final markup. Maybe the retailer marks that silver eagle up to +$2.50 and sells it to you.
So the reason is the prices is different is simple. The Government mints all set their premium prices at different rates to the wholesalers. Therefore, the reason a Canadian Maple Leaf coin is cheaper than a American Silver Eagle is because the Royal Canadian Mint sells them to the wholesale market at a lower rate than the US Mint sells Silver Eagles to the wholesale market for!
Buying Silver Coins on eBay?
There are a ton of investors and shoppers who like to buy silver coins from eBay. eBay is great because there is a wide selection of products and a large variety of sellers. But should you buy from eBay? Well, if you’re buying in bulk, this is not something we would recommend. However, if you’re looking for a very specific silver coin, then eBay can be a great option. Thousands and thousands of silver collectors buy and sell on eBay; which makes it a great place to find unique silver coins you might be hunting for to complete a collection.
However, you’ll need to be aware of two things. One, there are a lot of counterfeit silver coin sellers on eBay. To get around this, make sure you do your due diligence on the eBay sellers. Make sure they have been selling for a handful of years and have a lot of great reviews and ratings from past buyers. Secondly, eBay has some expensive fees that they pass on to their sellers. So you’re typically not going to find the lowest silver coin prices at eBay.
However, eBay sells millions of dollars of silver every year on their platform. So if you find a silver coin there that is the lowest price, there’s no reason not to shop there. Just make sure you double check shipping, insurance and returns for the product and you should be alright.