What are silver bullion coins?
What are silver bullion coins? Silver bullion coins here are in reference to silver bullion coins in the traditional or conventional sense. Firstly, the relevant silver coins contain a very high percentage of silver in terms of the weight of the silver coins in relation to the total weight of the coins, and secondly, the silver content ranks extremely high in terms of its silver purity (999.9,999, etc.). E.g. the American Silver Eagle contains 1 troy ounce of fine silver with a purity of 999 or 99.9% and the Canadian Silver Maple Leaf contains ultra-fine silver with a purity of 999.9 or 99.99%.
Given the above, it must be clear that the classification of silver coins here as silver bullion coins goes beyond the modern classification of silver bullion based only on the fact that the silver melt value of the relevant coins is higher than the face value of the relevant coins (despite any collector’s value or numismatic value). Needless to say, silver purity and silver weight are factors of extreme importance to consider here. The following sections of the Silver Bullion website shed more light on the type of silver coins we are referring to here: “What is silver bullion?” and “What are silver coins?” (in terms of this website).
In addition to the above, we are also in reference here to silver bullion coins that are classified as legal tender, which means it has a face value and must be accepted as a form of payment for a debt, and are minted and circulated by a government mint. It is thus silver bullion coins that are official government-issued silver bullion coins such as American Silver Eagles, Canadian Silver Maple Leafs, Mexican Silver Libertads, Chinese Silver Pandas, Australian Silver Kookaburras, Australian Silver Kangaroos, British Silver Britannia and Austrian Silver Vienna Philharmonics. These silver bullion coins are the exact opposite of privately minted and issued silver rounds that have no face value. Besides this, silver rounds are also silver bullion coins in the traditional or conventional sense (in terms of silver purity and weight) and have been included in the list of silver bullion coins. Thus, the list of silver bullion coins do contain both government and privately minted and issued silver bullion coins (legal tender and non-legal tender coins).