The Canadian Maple Leaf Silver Bullion Coin was introduced by the Royal Canadian Mint in 1988, following the success of the Gold Maple Leaf, which had gained significant popularity among collectors and investors in earlier years.
Inspired by the success of its gold counterpart, the Royal Canadian Mint decided to create a similar product using silver, a more affordable precious metal. Like the Gold Maple Leaf, the Silver Maple Leaf is crafted from exceptionally pure silver, with a composition of 99.99% silver. The design elements mirror those of the gold coin as well.
On the reverse side, the coin features an iconic image of a maple leaf, which gives the series its name. Surrounding the leaf are the inscriptions “CANADA” and “9999 FINE SILVER 1 OZ ARGENT PUR.”
The obverse side has consistently depicted a portrait of Queen Elizabeth II, a requirement for legal tender coins issued by Canada. This side also displays the coin’s face value of $5, along with the inscriptions “ELIZABETH II,” “5 DOLLARS,” and the year of minting.
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With a face value of $5, the Silver Maple Leaf holds the distinction of having the highest face value of any silver bullion coin worldwide. However, investors generally do not purchase these coins for their face value or the government-backed guarantees. Instead, the primary interest lies in the coin’s metal content. This is known as the coin’s “melt value,” which is roughly equivalent to the current market price of one ounce of silver. For example, if silver is trading at $25 per ounce, the melt value of a Silver Maple Leaf would be around $25.