- 17 May 2022
- Bonds
- Precious Metals
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Are you new to investing in precious metals? Or, have you been taking advantage of the opportunity to diversify your portfolio with gold and silver for some time now? Either way, you may be searching for the best silver coins to add to your investment portfolio.
If so, the Silver Canadian Spirit Bear Coin may have caught your attention. If you have questions about the purity level of this coin, its design, or whether it can be held in an IRA, keep reading. By the end of this article, you should have learned all the information needed to make an informed investment decision.
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Silver Spirit Bear Coin at a Glance
About the Silver Spirit Bear Coin
This Silver Spirit Bear Coin was designed to showcase the majestic species native to North America. A Spirit Bear, also called a Kermode Bear or Ghost Bear, is a bear that has white fur. It is actually a subspecies of the black bear, and the white fur is caused by a genetic mutation.
In some instances, two black bears can have a Kermode Spirit Bear if both parents are carriers of the MC1R gene that causes the white coloring.
Kermode Spirit Bears are known to be excellent hunters. Some even speculate that they are better hunters than black bears due to the fact that their white fur isn't as visible against the sky. While these bears are great hunters when salmon are migrating during the fall, they mainly eat berries and herbs at other times of the year.
Silver Spirit Bear Coin Design
Ready to learn more about the design of the Silver Spirit Bear coin? Let's take a look at the obverse and reverse design of this coin.
Obverse
As with other Canadian coins, the obverse of the Silver Kermode Spirit Bear Coin bears an image of Queen Elizabeth II. This design, by Susanna Blunt, shows the Queen facing to the right wearing a pearl necklace, but no crown. Blunt's portrait of Queen Elizabeth II has been used on Canadian Coins for nearly 20 years.
Reverse
As you can probably imagine, the reverse design of this coin is all about the Kermode Spirit Bear. In the detailed image, the bear appears to have recently caught a fish. He is holding the fish in his mouth, showing his strength as he walks through the water. A round border encircles the bear design. "Fine Silver 1 ½ oz 9999 Argent Pur" is written along the bottom of the border to indicate the coin's weight and purity level. "Canada" and the year of issue are written along the top of the border.
How Much Is a Silver Spirit Bear Coin Worth?
This Spirit Bear Coin is made of nearly pure silver (99.99%), so its value is closely tied to the spot price of silver. This means that its value may rise or fall depending on how the price of silver moves. Keep in mind that this coin weighs 1 ½ ounces, and that the spot price of silver is based on 1 ounce.
As a coin, as opposed to a silver bar, its value may be slightly above the spot price of silver because of its design and the number of other coins that are available.
The best way to find the current value of this coin is to contact a precious metals provider.
Adding Silver Spirit Bear Coins to a Retirement Account
Precious Metals IRAs allow you to hold gold, silver, and other precious metals in a retirement account. However, there are pretty strict rules regarding the metals that are eligible to be held in an IRA. For silver, the IRS requires that all silver coins be at least 99.9% pure.
The Silver Spirit Bear Coin has a purity level of 99.99% silver, meaning that it exceeds the minimum requirements set by the IRS.
If you would like to add the Silver Spirit Bear Coin to an IRA, contact your precious metals provider. If you don't already have a precious metals provider, there are many out there to choose from. You'll just want to do some research and find a well-respected and trustworthy company to work with.
Are Silver Spirit Bear Coins a Good Investment?
Many individuals believe that the Silver Spirit Bear Coin is a good investment and have added it to their portfolio. However, you get the final say in how you invest your money and can decide for yourself whether you want to invest in this 1 ½-ounce silver coin. Do you think you'll be adding any Silver Spirit Bear Coins to your personal or retirement portfolio?
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