- 14 May 2022
- Precious Metals
- Comments: 0
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The Canadian Silver Orca coin is brilliant and attractive, but is it the right coin for you to invest in? Ultimately, this decision will be up to you, but we can help you learn more about the 10-ounce Silver Canadian Orca Coin so that you can decide whether you want to invest in it.
Today, we'll share more about this coin's purity level, eligibility to be held in an IRA, and its obverse and reverse design. Read on to learn more.
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Silver Orca Coin at a Glance
About the Silver Orca Coin
The Silver Orca Coin is a 10-ounce silver coin. It is a highly-pure coin, with a .9999 fineness rating. The coin was produced by the world-renowned Royal Canadian Mint to pay homage to the Orca.
Silver Orca Coin Design
Continue reading to learn more about the design featured on the obverse and reverse of the Canadian Silver Orca Coin.
The obverse design of this coin should look familiar if you've seen other Canadian currency. It features an effigy of Queen Elizabeth II, depicted without her crown, facing the right. The queen is wearing a pearl necklace, and the words "Elizabeth D.G. Regina" are written around the sides of her head. The meaning of these words is "Elizabeth II, by the grace of God, the Queen."
While you may be familiar with the portrait after seeing it on other coins, do you know its history? The reason this portrait is used for Canadian currency is because it was selected by the Royal Canadian Mint during a contest. The winning artist, Susana Blunt, has the privilege of saying her portrait of the Queen has been used on Canadian currency since 2003.
The reverse of this coin shows an impressive orca. In the image, the orca is diving into the water with the tail fin still above the surface. The water around the orca is still, other than the small waves forming from the giant creature diving beneath the surface. A hilly landscape can be seen in the distance.
The image of the orca is surrounded by a border with radial lines, for extra security and protection against counterfeit coins. "Canada" is written across the top of the coin, with the bottom reading "9999 Fine Silver 10 Oz Argent Pur 9999" to convey the weight and purity level. A small Canadian Maple Leaf is also stamped on the reverse, just above the landscape in the image with the orca.
What Is the Value of a Silver Orca Coin?
Gold and silver values are constantly changing, even if only by a small amount. The price of a silver coin is tied to the spot price of silver. Though, silver coins are often worth a bit more than a silver coin with the same weight due to their designs.
If you're looking for an approximate value for this Silver Orca Coin, you can multiply the spot price of silver by 10 (since this is a 10-ounce coin). However, this value will merely be an estimate. If you want to find out the exact price to purchase 10-ounce Canadian Silver Orca Coins, reach out to a precious metals dealer.
Adding Silver Orca Coins to a Precious Metals IRA
Did you know that you can hold physical precious metals, such as silver or gold coins, in a retirement account? Precious Metals IRAs are a type of Self-Directed IRA that allows you to do just that. You can invest in precious metals and diversify your portfolio at the same time as getting to take advantage of the benefits of being an IRA holder.
However, you can add just any silver coin to an IRA. The IRS requires that silver coins meet a minimum purity level of 99.9% in order to be added to an IRA. The Silver Orca coin actually exceeds this minimum requirement. It is 99.99% pure, and can be held in a Silver or Precious Metals IRA.
Ready to add Silver Orcas to your retirement account? Find a reputable precious metals dealer that can help you. To find the best company to work with, consider reviews from past customers, as well as the company's rating with organizations such as the Better Business Bureau.
Are Silver Orca Coins a Good Investment?
Everyone's idea of a "good" investment can look different. And, what is a good investment for someone else may not be a good investment for you. Before deciding if you'll want to invest in Silver Orca coins, consider your financial goals, the current state of your portfolio, and any other important factors that you impact your decision.
If you decide you do wish to invest in Silver Orca coins, reach out to a precious metals investment company for help. What is your investment plan?
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