The Canadian Silver Maple Leaf 1 oz has been a silver bullion standard since its introduction by the Royal Canadian Mint. Production of the Canadian Silver Maple Leaf 1 oz began in 1988 and continues each year because of its popularity. It competes with other silver bullion coins like the US Silver Eagle and the Austrian Silver Philharmonic.
The front of the coin features Queen Elizabeth II and includes its legal tender value ($5 Canadian). The Canadian Silver Maple Leaf 1 oz is a pure silver coin and the date changes each year. The reverse features a stylized maple leaf; the Canadian national symbol because the maple tree grows in all 10 provinces. It also includes the coin’s weight and purity.
The regular production Canadian Silver Maple Leaf 1 oz offers advantages: (1) because the Canadian Silver Maple Leaf 1 oz is guaranteed as to weight and purity by the Royal Canadian Mint is a world bullion standard. This allows dealers to post daily buy and sell prices which fluctuate with the price of silver. (2) Because of the Royal Canadian Mint quality standards the Canadian Silver Maple Leaf 1 oz is accepted in Individual Retirement Accounts. (3) Because the Royal Canadian Mint produces a large number of these brilliant silver coins the premium over spot is low. (4) The Canadian Silver Maple Leaf 1 oz is a pure silver coin and so allows investors to figure value easily. (5) The Royal Canadian Mint designed a plastic tube which holds 25 coins and snaps shut so storage is convenient. The Canadian Mint also supplies a virtually indestructible 37 pound Monster Box which holds 20 tubes (500 coins). These large yellow boxes stack, travel coast to coast and are popular.
There is no dealer reporting requirement (Federal Form 1099B) for this bullion coin when you purchase or sell.