- 26 May 2022
- Bonds
- Precious Metals
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Have you been searching the internet trying to decide how to diversify your investments? Are you considering investing in precious metals? Adding gold and silver to your personal, or even retirement, portfolio can provide many benefits. You will be able to decrease your reliance on the stock market while also helping to hedge against inflation and protect your wealth.
The Canadian 2021 Silver Buffalo coin is one that you may wish to add to your portfolio. If you're not sure whether this is the right coin for you, continue reading to learn more about its purity level, design value, and IRA-eligibility.
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Canadian Buffalo 2021 Silver Coin at a Glance
About the Canadian Buffalo 2021 Silver Coin
The American Buffalo is the heaviest land animal on the continent. This large creature was at one point threatened by over-hunting. Fortunately, both Canada and the United States instituted conservation rules and laws to protect the species and help its population grow. At this time, it is estimated that there are over 30,000 buffalo across Canada and the United States.
The Royal Canadian Mint issued this Silver Buffalo coin to celebrate this massive and important creature. Produced in 2021, only limited quantities were minted, making the coin a prized possession of many collectors.
The Canadian Buffalo 2021 Silver Coin is made with 99.99% pure silver. It has a 1 ¼-ounce weight, a 38-millimeter diameter, and an $8 face value. In addition to this 1 ¼-ounce silver coin, the Royal Canadian Mint also produced a ¼-ounce gold coin with the same value.
Canadian Buffalo 2021 Silver Coin Design
Whether you are an avid coin collector, a lover of nature and wildlife, or just looking for something that will help you diversify your portfolio, we think you'll appreciate the eye-catching design of the Canadian Buffalo Silver coin. In the next few sections, we'll take a closer look at the various design features of the obverse and reverse of the coin.
Obverse
An effigy of Queen Elizabeth II is proudly featured on the obverse of the coin. In this image, which was designed by Susana Blunt, the Queen is pictured without her crown, which is a bit rare for currency. Rather, she is wearing a stunning pearly necklace and elegant earrings. In the image, the Queen is looking to the right, as is common on currency.
"Elizabeth II D. G. Regina" is written along the front border of the coin. Meaning "Elizabeth II, by the grace of God, the Queen" this phrase was added to show respect to Her Royal Majesty.
A radial pattern of thin lines also surrounds the Queen's profile to provide an extra layer of security against counterfeit coins.
If you've looked at other Canadian coins, this portrait of the Queen may look familiar. This is because it has been used for Canadian currency since 2003. Susana Blunt's design was actually selected as the winner in a contest run by the Royal Canadian Mint.
Reverse
As you can probably guess, the great American Buffalo is the featured image on the reverse of the coin. Shown standing up and facing the left, the buffalo's strength and power is clear. He is shown standing on an expansive field with a few clouds in the sky above.
Canada and the coin's issue date of 2021 are written at the top of the radial border surrounding the buffalo image. The coin's weight (1 ¼-ounce), content (fine silver), and purity level (.9999) are also all included on the reverse.
Canadian Buffalo 2021 Silver Coin Value
If you look at the obverse of this coin, it will tell you that its value is $8. However, that is simply the face value. The true value of the coin is much higher, based on the value of silver.
The spot price of silver can help put you in the ballpark for the coin's value, but it is important to note that the value is not solely based on the silver content. Other factors, such as the available supply of the coin and investor demand for it, will all impact its value.
We would love to be able to put a specific value here for you. However, unless you were to read this article on the date we published it, the value written would likely be inaccurate. The spot price of silver can fluctuate on a daily basis.
Contact your precious metals provider for more current information about the exact value of this coin.
Adding Canadian Buffalo 2021 Silver Coins to a Precious Metals IRA
If you haven't been investing in precious metals for too long, you may not be familiar with a Precious Metals IRA. In short, a Precious Metals IRA is a type of Self-Directed IRA that allows the investor to hold gold, silver, and other precious metals in their retirement account.
Precious Metals IRAs offer a variety of potential benefits, including tax savings for account holders. Additionally, you'll also get to take advantage of all the benefits of investing in precious metals, such as hedging against inflation, diversifying your portfolio, and preparing for a sound financial future.
Many investors have started moving away from holding all of their investments in the stock market. If you have any stocks, you know all too well how volatile the stock market can be and how scary it can feel to see the value of your portfolio dip way down.
When some of your money is invested in precious metals through an IRA, you'll be less affected by these dips and drops, allowing you to breathe more easily.
So, is the Canadian Buffalo 2021 Silver coin eligible to be held in an IRA? To answer this question, we must take a look at its purity level.
The IRS requires that all silver coins be at least 99.9% pure in order to be held in an IRA. This coin is 99.99% pure silver, meaning it satisfies this requirement. You can add the Silver Canadian Buffalo coin to your retirement account.
Reach out to your precious metals provider, and they'll work with you and an IRA custodian company to get your account set up and funded. Then, you'll be able to add the Silver Canadian Buffalo coin and other precious metals to your account.
Are Canadian Buffalo 2021 Silver Coins a Good Investment?
The Canadian Silver Buffalo coin is a highly pure 1 ¼-ounce silver coin. As nearly pure silver bullion, it can make a wonderful addition to a Precious Metals IRA. Silver is a very highly sought-after precious metal and manufacturers and developers keep finding new ways to use it for new advancements. This fact is why many investors are adding more and more silver to their portfolios.
However, only you know what the best investment decisions for you are. And, of course, as with any other investment, there are some risks to consider.
What do you think? Will you be purchasing the Canadian Buffalo Silver Coin or adding it to a retirement account?
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