- 02 Jun 2022
- Precious Metals
- Comments: 0
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Silver coins offer an amazing investment opportunity. While their beauty is enough to make them an attractive addition to a coin collection, investing in silver may also help you increase your wealth. As a precious metal, silver is coveted around the world. Plus, with more and more uses for technological advancements and manufacturing, its future certainly looks promising.
If you're ready to start investing in silver coins, the silver Sceptre Guinea may have caught your eye. Read through the next few sections to learn more about this coin, its design, and whether you can add it to a Silver IRA.
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Silver Sceptre Guinea at a Glance
About the Silver Sceptre Guinea
The Silver Sceptre Guinea is a 1 ½-ounce, 99.9% pure silver coin minted by the East India Company. It was designed to recognize the trade that the East India Company has been able to facilitate between Britain, Scotland, Ireland, and France.
This coin is legal tender in St. Helena with a face value of £1.25. The value of the coin is guaranteed by the British government.
Silver Sceptre Guinea Design
The Silver Sceptre Guinea is an attractive coin. Read more about the designs found on the obverse and reverse of the coin in the next two sections.
As with other St. Helena coins, the obverse of the Silver Sceptre Guinea features a portrait of Queen Elizabeth II. In this portrait, designed by Raphael Maklouf, Her Majesty is facing the right with the Royal Diadem on her head, a necklace around her neck, and earrings dangling from her ears. The Royal Diadem is a special crown that she traditionally wears when visiting the State Opening of Parliament.
A round border surrounds this image of The Queen. Written inside the border are the coin's value (£1.25), "St. Helena," "Queen Elizabeth II", "East India Company" and the year of issue.
Four shields representing the countries of Britain, Ireland, Scotland, and France are all shown on the reverse of the coin. The shields are arranged in a cross formation. The different flag designs include the Three Lions of England, the coat of arms of the House of Hanover, the Harp of Ireland, and the fleur de lis of France.
Sceptres are shown coming out from the center of the shields, making an X shape between the cross of the shields. A border reading "1.25 ounce, guinea, 999 silver" surrounds the shields.
Silver Sceptre Guinea Value
If you're familiar with precious metals, you know that the value of a nearly pure silver coin, such as the Silver Sceptre Guinea, is going to be much higher than its face value. This coin, which is legal tender in St. Helena, has a face value of £1.25. However, with its 1 ¼-ounce weight, the value of the silver alone is worth much more than that.
A silver coin's value can rise and fall based on the spot price of silver. However, some coins can be worth significantly more than the value of their metal alone. Coins that are rare or in high demand may rise in value more quickly than other comparably-sized coins.
As the value of this coin and the spot price of silver can fluctuate, you'll need to contact a precious metals provider for the most current pricing information.
Adding Silver Sceptre Guineas to a Precious Metals IRA
Precious Metals IRAs, or Silver IRAs, are a type of Self-Directed IRA. They make it possible for individuals to add precious metals to their retirement account rather than relying solely on the volatile stock market. When your portfolio is diversified with some money held in precious metals, you'll be less severely impacted when the market takes a dip.
In addition to the protection they provide against market volatility, Precious Metals can also be a good idea for those looking to decrease the taxes they pay for their investments. As with other types of IRAs, Precious Metals IRA holders receive a variety of tax benefits.
The IRS has created some pretty strict rules regarding the types of precious metals and their purity levels that can be held in an IRA. Silver coins and bars, for example, must be at least 99.9% pure. The Silver Sceptre Guinea meets this minimum purity requirement, so you can add it to an IRA if you wish.
The best way to add Silver Sceptre Guineas or other coins or bars to a Precious Metals IRA is to contact a precious metals provider. They can work with you and an IRA custodian company to get your account funded and help you select the coins and bars you'd like to invest in.
Are Silver Sceptre Guineas a Good Investment?
Now that you've learned more about Silver Sceptre Guineas, you should have the information needed to help you decide whether they are the right investment opportunity for you. Do you think you're ready to add some to an IRA or purchase Silver Sceptre Guineas for a personal investment? Or, are you looking to consider some other options?
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