- 16 May 2022
- Bonds
- Precious Metals
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Is the 10-ounce Canadian Silver Snowy Owl Coin the best coin for you to invest in? We're guessing that's why you're here reading this review. By the end of the article, we think you'll be able to answer this question for yourself.
We're going to share key details about the coin that will help you make the best investment decision for your needs and goals. Some of the things we'll examine over the next few sections include the coin's purity level and weight, design, manufacturers, and eligibility to be held in an IRA.
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Silver Snowy Owl Coin at a Glance
About the Silver Snowy Owl Coin
This Silver Snowy Owl Coin comes to you from the Royal Canadian Mint. The Royal Canadian Mint is one of the top mints in the world. They are known for their exquisite designs, technological advancements, and high purity levels. This Silver Snowy Owl Coin is made from 10 ounces of 99.99% pure silver. It has a $50 face value, though the true value of the metal is much higher.
Silver Snowy Owl Coin Design
Would you like to learn more about the design of this brilliant coin? In the next few sections, we'll take a detailed look at both the obverse and reverse designs of the Canadian Silver Snowy Owl Coin.
Obverse
The obverse design found on the Silver Snowy Owl Coin can also be found on many other Canadian coins. It displays a portrait of Queen Elizabeth II in which she is facing the right. Depicted without her crown, the Queen is wearing a pearl necklace in the portrait, with the words "Elizabeth II D.G. Regina" around her head. These words mean "Elizabeth II, by the grace of God, the Queen."
The Royal Canadian Mint actually held a contest to select a new design for their coins in the early 2000s. This design, by Susana Blunt, was chosen as the winner of the contest and has been used when minting Canadian currency since 2003.
Reverse
The reverse of this coin is a detailed masterpiece showing a snowy owl soaring. You can clearly see all of the feathers on the owl's body and opened wings. The owl's head is looking out, almost as if it is looking the viewer of the coin right in the eye. A small image of the iconic Canadian Maple Leaf is stamped on the back, just below the owl's head. The top of the coin says "Canada" followed by the year of issue. "9999 Fine Silver 10 oz Argent Pur 9999" is written in the border beneath the owl.
Silver Snowy Owl Coin Value
The value of a silver coin fluctuates too much to put a dollar figure here. Checking the spot price of silver, and multiplying it by 10, can help you get a ballpark idea for how much this 10-ounce Silvery Snowy Owl Coin is worth.
However, don't expect the number you get from doing that calculation to be 100% accurate. Silver coins are often worth more than a solid silver bar with the same weight. Factors such as rarity, the coin's design, or even the manufacturer can impact their value.
Can You Add Silver Snowy Owl Coins to a Precious Metals IRA?
Yes, Silver Snowy Owl Coins can be added to a Precious Metals IRA. They surpass the minimum purity level laid out by the IRS of 99.9% pure. The coins, are in fact, highly pure with a .9999 fine rating.
If you haven't heard of a Precious Metals IRA before, they are a type of Self-Directed IRA. Also called Silver IRAs, this type of retirement account allows individuals to hold precious metals, rather than the traditional stocks and bonds, in their retirement account. As an IRA holder, you'll also benefit from the favorable tax policies in place for retirement accounts.
You can work with an IRA custodian company and a precious metals provider to set up and fund your new Precious Metals IRA. Then, you can choose the coins or bars you'd like to add to your new account, including this Silver Snowy Owl Coin.
Are Silver Snowy Owl Coins a Good Investment?
So, are Silver Snowy Owl Coins a good investment? This is really up to you. Consider your future investment goals, as well as other coins or bars that you have been looking at. Do you think that you are ready to purchase some Silver Snowy Owl Coins for a Silver IRA or personal investment? Or are you going to look at some other options?
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