The silver price per ounce isn’t set in stone. In fact, the price for an ounce of silver today will be different from tomorrow’s list price. The reason is the price is based on the global commodity markets. With these locations trading around the clock, the price can change based on trades in Chicago, Hong Kong, London, New York and Zurich.
But the market with the largest impact on the silver price per ounce is London. It was here in the 17th century that the silver trade began. To this day, London is the main source for the physical trading of silver in the world and the most respected. But it doesn’t produce the majority of the paper contracts associated with trading. Read More…
Silver prices changes from time to time. In order to make a well-informed decision, you should know the current value of silver. This will help you decide when to buy and when to sell. It will also help you determine the current value of your silver holdings.
- The condition of the coin.
- How rare the particular coin is.
- When was the silver coin minted?
- How much silver it contains.
Demand for Silver
Silver prices are greatly impacted by the demand for the metal. When the demand is high, the price of silver will also rise. But, when the demand goes down, the price also goes down. Although the price of silver is volatile, it still offers a great advantage. When the demand for silver rises, the price of silver can also explode, just like what happened in April 2011 wherein the price of silver rose up to 107%.
Global and national issues greatly affect the price of silver. Economic downturn, war, large companies and corporations getting bankrupt and other national or global problems are all considered as great contributing factors affecting the price of silver. Even so, silver is still considered a stable investment. In times of uncertain economic status, investors turn to silver. Unlike bonds and stocks, silver, just like gold, retains its value.
Silver has proven itself as a versatile and important metal with its various uses in electronics, trading, medicine and technology. Foreign countries such as China and India are considering buying silver overseas to fill put their need for silver for industrial purposes.
Buying silver has many advantages but t does have its disadvantages too. When buying silver bullions, it is hard for the public to identify them. Also, when selling large quantities of silver coin and bullions, you will be required to furnish some form of authentication, just like with other precious metals. Silver coins are also counterfeited. Some really good replicas of silver coins are scattered all over the marketplace, so you should be aware of these.
Clean Your Silver
When you are selling your silver, it would be great to polish it. Although there are commercial silver cleaners, you can always use baking soda and aluminum foil. Place some aluminum foil inside the saucepan and line them neatly. Fill the saucepan with water until it is halfway full and heat it. Add 1 or 2 tablespoons of salt and baking soda and mix well. Add your silver coin, bullion or silver ingots and boil. Remove from fire and cool. Rub your silver with a soft, cotton cloth until all tarnish is gone.
Silver trading is not really complicated as it may sound. Silver can be easily purchased in large quantities at one time. Also, silver is a good investment for securing your financial future because it is more stable compared to other investments. Silver prices may fluctuate from time to time but it still remains a solid and practical investment especially for securing your finances in the future.
Sterling silver trophies are popular promotional award trophies that are used by companies as gifts. These exquisite workmanships along with quality materials such as sterling silver and pewter produce an outstanding selection. There are lots of expert engravers that you can hire to personalize the award trophies with promotional details and requests and corporate logos. Silver is known as a soft metal, and for products larger than jewelry, a small amount of copper is added to provide additional strength. It is known as the sterling silver and is 92.5% pure or higher.
An Antique Sterling silver huge trophy cup with cover. This trophy has a round hand-chased body having half-fluted design, with bead borders. It has two loop side-handles with a unique cover to match the finial and decoration and with a square-based pedestal foot base. It was manufactured in Birmingham in 1911. The height of this fine hand-made antique silver trophy cup and cove is 47 cms, with arms that spread across 29cms and it weighs around 57.5 troy ounces.
Another popular design is the antique Edwardian silver trophy cup and cover. This George II design has a basic round body, a pull-off lid with cast finial, two scrolls side-handles and sits on the pedestal foot. This design was first made by Theodore Rossi of London in 1906. The height of this handmade silver trophy is 29 cms, with arms that spread across at 31 cms and weighs around 71 troy ounces.
Antique Victorian Sterling silver trophies in a Campana style are among one of the favorites. It has baluster body having a hand chased floral design and a vacant cartouche on one side. It has 2 cast floral scroll handles with a gold-slit interior and having an Acanthus leaf pedestal foot. This design was first made in 1839 by Charles Fox of London. It weighs around 6 troy ounces, 11 cms in height that spread across handles 14 cms.
The Proper Way of Cleaning your Silver Trophies
Whether it is sterling or pure, silver will tarnish when it comes in contact with air. It starts to turn pink, slowly fading to brown to gray then black. It is a chemical process where sulfur compounds in the air react with silver that resulted in the formation of silver sulfide. There are lots of cleaning compounds that are available in the market. Some of these compounds can scour the surface of the trophy. However, some homemade solutions are much better. If your silver trophy is heavily tarnished here are steps in removing it:
- In a pot pour boiling water enough to cover the trophy. Add salt and baking soda and stir to dissolve it.
- To lower the pot in the solution use tongs. Keep it submerged in the solution for up an hour if the trophy is badly tarnished.
- Slowly remove the trophy from the solution and with the use of clean cloth wipe it dry.
To help prevent tarnishing, keep your sterling silver trophies away from the grime and dust and make sure that you store it in an area with low level of humidity.
If you are planning to invest in silver, it will help to learn about the silver price history so you have an idea on the ups and downs of silver prices. Like any other precious metals, silver is greatly used as an investment. The price of silver is greatly dictated by the demand in industrial uses and store of value. Silver price are volatile because of the wide range of valuations in the market.
Although the price of silver is highly volatile, it is still seen by investors as a great protection against devaluation, inflation and deflation. Unlike bonds and mutual funds, silver retains its value. Silver bars, coins or bullions can be bought directly from the bank in some countries. Due to the size and shape of silver bars, coins ad bullions, the can easily be stored and kept at home. You may also keep them in the bank in an allocated or unallocated storage.
Price is Always Changing
The silver price history will tell you that the price of silver continually changes. It actually changes dramatically, sometimes in just a span of months. The high volatility of silver prices can work to your advantage. In the event that the demand for silver goes up, the price of silver will also spike. The demand in the industrial section for silver is continually rising due to its high resistivity. More and more people are also choosing silver over gold when it comes to jewelry due to its sparkle and it is soft enough to be alloyed with other metals and molded into great jewelry designs.
For many collectors and investors, the Canadian silver coin and the American silver eagle are the most collected and used for investment due to their high silver content. When you want to invest in silver, you can either purchase the physical metal or invest in a financial security that goes along with the price of silver.
You can purchase silver in the form of bars, rounds, coins or privately minted coins. Silver coins can be rather tricky due to the various ways of buying them. These coins can either be rare collectibles or silver bullion coins. If your only purpose of buying silver is for investment, it would be advisable to buy the silver bullion coins. The value of a silver bullion coin is determined by the amount of silver that it contains. Bullion coins are bought from authorized dealers or direct from the mint.
Rare collectible coins maybe of interest to some collectors as it may have a greater value but that value depends on several factors such as the wear condition of the coin, the quality of the appearance of the coin and the scarcity of the coin. These factors make the value of rare collectible coins subjective. Rare coins are commonly sold from collectors or private sellers. Through the curse of time, silver price history proves that this precious white metal has its ups and downs but has proven to be a stable investment for anyone who wants to secure their future finances.
The Royal Canadian Mint is a Crown corporation that is responsible for producing all of Canada’s circulation coins. It also manufactures circulation coins for other countries, manufacture and design base and precious metal collector coins as well as silver, gold, platinum and palladium bullion coins, medallions, tokens and medals. It also offers other services such as assay services and silver and gold refinery and secure storage.
As a Crown corporation, the Royal Canadian Mint is owned 100 percent by the Canadian Government, which is also it’s the sole shareholder. Just like private sector companies, it has a Board of Directors which consists of the President, a Chair, CEO of the Mint and the other eight Directors. As a corporation owned by the government, it is mandated to perform in expectation of profit while it is serves the public’s interest. Therefore, it operates in a commercial manner and does not rely on the people’s taxes for the funding of its operations.
Royal Canadian Mint
The Mint produces gold, silver, palladium and platinum coins, bullions and bars using a technically advanced refinery wherein precious metals are refined from various sources such as industry, financial institutions, recyclers and primary producers. The Mint has been able to produce circulation coins for various foreign countries over the years. In January 1970, the Mint won the contract for Singapore ad it produced 6 million copper-nickel alloy rimmed blanks. In April of the same year, the Mint produced 84 million blanks of the 50 centavo piece for the Central Bank of Brazil. People’s Democratic Republic of Yemen ordered two million pieces of five-fil coins in August of 1971. This was followed by a 2.5 million pieces of one-crown coins order from Iceland.
Other countries and foreign banks that the Mint extended its services to include: Bahamas, Cayman Islands, Bermuda, Isle of Man, Iran, Bank of Jamaica, Venezuela, Australia, Cuba, Norway, Yemen, Colombia, Indonesia, Iceland, Hong Kong, Thailand, Uganda and Barbados, Papua New Guinea and New Zealand.
The 50-toeia coins that the Mint produced for Papua New Guinea is the first-ever colored coin that circulated outside of Canada. To attain the requirements needed to produce these coins, the Mint collaborated with PharmaCos Machinery, a Canadian robotic and equipment manufacturer, to create a robotic arm that will pick and place each coin on the painting line so that every coins has an identically oriented design. This capability is unique to the Royal Mint.
Mint Big Business
As part of the Mint’s business line, it also produces military decorations for the Department of National Defence and Veterans Affairs Canada, artistic achievement award (Governor General of Canada) and athlete medals (1976 Montreal Olympic Games and 2010 Vancouver Olympic and Paralympic Winter Games).
The Royal Mint also produces numismatic coins for collectors and enthusiasts not only in Canada but all over the world. Some of these coins were given international industry awards. The Royal Mint uses special technologies in producing numismatic coins which include: embedded crystal, holograms, lasering and enamelling. In 2010, the Royal Canadian Mint reached a record 25 collector coins sold out.
There are many uses of silver and just like gold; this precious metal is a good investment as it protects you from economic uncertainty. Instead of keeping your money in the bank, your earnings are ensured when you invest on silver. Even during the economic crunch, silver remains stable, although there are ups and downs, it is able to revive itself quickly compared to other investments. Aside from being a good investment, there are still other uses of silver.
This precious white metal is used for coins in most countries in the past due to its rarity and high value. Due to its malleability and high luster, silver is attractive to the eyes. It is also a rare metal, although it is more abundant than gold. Furthermore, silver does not corrode and it only melts at very, very high temperatures. Until the 20th century, silver and gold standards were used.
Jewelry and Silverware
Silver has been traditionally used for jewelry and silverware due to its reflectivity, luster and malleability. Because it is a soft metal, it is often combined with base metals, making it easier to mold and craft into beautiful works of art.
Silver has great thermal and electrical conductivity compared to most metals that is why it remains the primary choice in this industry. Silver is used in appliances for their on/off switch. In plasma television, it is used to provide image of the highest quality.
Silver is used in batteries that uses silver zinc alloys or silver oxide such as button batteries used in watches and cameras, defense applications and aerospace. Silver-zinc batteries are also the best alternative for lithium batteries used for laptops and electronic cars.
Cutting-edge Technology for Superconductors
Although silver is not a superconductor, when paired with one, they can transmit electricity faster than with superconductor alone. A superconductor paired with silver can be used to generate magnetic energy that is used to turn on motors and to propel trains using magnetic levitation.
Brazing and Soldering
Due to silver’s ductility and high tensile strength, it is best used in brazing and soldering. Brazing and soldering creates joints which are essential for air conditioning vents, heating vents, plumbing and many more. Furthermore, silver is non-toxic and it has antibacterial properties, making it the best replacement for lead-based bonds that are used between water pipes.
Silver is used as a catalyst to produce formaldehyde and ethylene oxide. Formaldehyde is used in producing resins and solid plastics as well as a protective coating. It is also used for embalming and as a disinfectant. Ethylene oxide is one of the primary ingredients of antifreeze. It is also used in the production of molded plastics such as flexible plastics and plastic handles.
Silver is obviously a precious metal that is very important in many industries. The many uses of silver prove that this white metal has more value than meets the eye.
The Royal Canadian Mint issued the very first Canadian Silver dollars in 1935 to commemorate King George V’s Silver Jubilee. To learn more about the silver dollars, here are some interesting facts that you might want to know.
Canadian’s silver dollars are considered as one of the sought after collector’s item for both the investors and collectors because of its historical value and beauty. The right side or obverse features the monarch during that time. The reverse side of the coin displays the one designed by King George V. Emanuel Hahn. He sculpted the image of a Voyager and the birch-bark canoe which is a native padding. If you check out closely, you will notice pale lines in the background and they display the Northern Lights. This design was used on the dollar up to 1986. In 1987, the Canadian one dollar coin was replaced. In 1967, the coin has stopped circulating. The succeeding year, the coin made of silver was replaced with the one which is made of nickel except the non-circulating memorial issues for the investor market.
The Types of Canadian Dollars Made of Silver
The Canadian Silver Dollars have four types. They are the 1987 Loon, the 1971 Dollar, the 1935 – 1967 Dollar and the 1968 Voyageur. Not all contain a good amount of silver. Actually only the Voyageur and the 1971 contain silver the rest has nickel on it. The Voyageur designed was released from 1935 until now. Its first released up to the year 1966, the coin contains 6000 ounce of silver. In 1967, the Royal Canadian Mint has stopped the silver production and use another metal in manufacturing the coins. The subsequent Canadian coins are made of nickel. Also a small amount of silver is added to 1971 coins.
To determine if the Canadian Voyageur dollar is real, check the obverse design. It should bear the image of Elizabeth II or George V. Also, in 1939, the Royal Canadian Mint was released having a dollar reverse design to honor the visit of the royal highness. It features the image of the building replacing the Voyageurs.
The Specifications of the Silver Dollar Coin
Every type of silver dollars has its own specifications. The first type was minted in the year 1935 to 1967 with a diameter of 36mm and 6000 silvers. The first type of Canadian silver coin Voyageur measures 32mm in diameter and weighs 15.3g. The other type 1971 coin, which measures 35mm in diameter and weighs 232.3276g that contain 3750 silver. The Loon coin measures 25mm in diameter and it does not contain any silver.
Trading these Canadian silver coins is very easy but tricky. Make sure that when purchasing coins, purchase it from a legitimate coin trader or collector. Determining the specification of every coin is very essential particularly if you want to buy or sell the coins. If you want to learn more about the silver coins there are lots of it that you can find online. It is best that you carry out your research about Canadian silver dollars before buying or selling it.
Last August 29, 2013, 2013 Fort McHenry Silver Coin was released to commemorate Fort McHenry National Monument and Historic Shrine in Maryland. This is the 4th Uncirculated coin released this year. The other coins are the Beautiful series with earlier 2013 coins to honor White Mountain National Forest in New Hampshire, Great Basin National Park in Nevada and Perry’s Victory and International Peace Memorial in Ohio. All of the commemorative coins mentioned are collector’s items with 99.9% pure silver and weighs 5.0 troy Oz, having a diameter of 3.0 inches and with 0.165 inches in thickness.
There are lots of collectors who have been waiting for the release of this coin and were hoping that the price would not increase before launching. Luckily, it didn’t. The coin can be purchased at $154.95, the same price of the 5 Oz coin displaying the Great Basin National Park.
There’s a great difference between then and the present. When the Great Basin coin was launched last July 25, the London Fix for silver was only $19.92 every Oz, which put its cost at $11.07 for every Oz over spot. At present silver fixing cost $24.11 an Oz, with the lowest launching price at $6.88 per Oz over spot – it almost reaches the premium level assigned for the bullion coins.
For those who are interested to buy 2013 Fort McHenry Silver Coin, there is a great savings if you place the order online. The US Mint is offering a free standard shipping promo until September 30. This rushed shipping is reduced by $4.95.
What Fort McHenry Silver Coin 2013 Features?
The designs that you will find on the Uncirculated Fort McHenry Silver coin 2013 are identical to the Fort McHenry quarters which was launched last August 26, 2013.
The tail side or the reverse side shows a scene of Defenders Day with fireworks at Fort McHenry to represent the rocket’s red glare, it reminds of the fort’s historic past during the time when Francis Scott Key was creating his poem Defense of Fort McHenry during the 1812 War. The poem was then converted to music and is now the national anthem of the US as The Star Spangled Banner. Printed around the coin is Fort McHenry, Maryland, 2013 and E Pluribus Unum.
On the head side or the obverse, the coin display John Flanagan’s portrait of George Washington has the following inscriptions, United States of America, In God We Trust, and Quarter Dollar Liberty. You can see the P mint mark to the right.
On the edge of the silver coin you will see the inscription 999 Fine Silver 5.0 ounce.
The Bullion Version of Fort McHenry Silver Coin 2013
Aside from the collectible Fort McHenry Silver Coin 2013, the US Mint also offers a bullion version designed for investors. This coin was launched on August 26, 2013 now having sales at 10,200. Selling of bullion coins directly to the public is not allowed by the US Mint. The authorized distributors are the one who is making the purchase of 2013 Fort McHenry Silver Coin from the Mint and they will be the one who will market it for several dollars per Oz over spot.
These days, with the declining stock of silver as well as mining, silver investment is a good choice. Silver is used heavily in the industry because of its electrical properties as well as superb thermal conductivity and is likewise still used heavily in photography in spite of the introduction of the digital photography. Less than 30% of all the silver is utilized in jewelry and 20% of it is used for investment and the buying of silver bullion. Others are used in photography and industry and thus more silver is lost each year. Also, the return over scrap is less than 5% and the world silver stock piles are reducing faster as compared to the silver that can be mined out of the ground.
30% or lower of the silver mined comes from the mines that manufacture silver exclusively. The majority of the silver produced came from other mining activities and there are no new silver mines have started. Thus, the demand for the silver will not decrease particularly with the increasing demand worldwide. Some of the popular forms of silver investment include stocks and shares, silver exchange traded funds (ETFs) and silver bullion.
The Silver Stocks and Shares
This kind of investment is not in the product but rather in the handling of mining. The majority of the silver mining companies, basically mine silver and other products are a by-product of the said mining. There are lots of mining companies that expand into other areas such as mining claims, buying and setting assets and even other mining companies. Thus, the value of your stock in the companies will rely on the management of the company than the actual value of the silver mined, if any from the ground. This type of investment is an interesting activity, but it is not actually investing in silver.
The Silver Exchange Traded Funds (ETFs)
This is actually a fund that depends on the price of the silver futures. You are not actually investing in silver since you were not able to buy or sell silver. You are actually buying into a fund, just like any other fund. Supposedly, silver ETFs is backed by silver, but there are doubts regarding the authenticity of that claim. This is actually not considered as an investment in silver bullion.
The Silver Bullion
This kind of investment involves investing on the actual silver. An investor can purchase silver coins, like US Silver Eagles, Chinese Pandas or Canadian Maple Leafs and several other silver coins. This is the investment that really involves silver. This is considered as the most expensive type of investment. Because of the high production cost of silver coins, it also has high premiums and is being passed on to the buyer. It is best that you purchase silver rounds and bullion bars since the premium is lower due to its low manufacturing costs.
The method of investment you choose will depend on the benefits that you can get from it. It does matter if you simply want to play with the price of the silver or you are investing seriously for a long term. In any case, silver investment will be very beneficial in the future.