SILVER MAPLE LEAF by the Royal Canadian Mint

The Canadian Silver Maple Leaf is a bullion coin issued annually by the government of Canada and minted by the Royal Canadian Mint (RCM). First hitting the market in 1988, the now iconic design has seen huge sales, second only the the American Silver Eagle. Like the Eagle, it has a limited numismatic value compared to most other silver bullion coins due to that huge mintage and a design that doesn’t really change. The lack of bigger sizes doesn’t help matters either, firmly placing the Maple, along with the Eagle and the Austrian Philhamoniker, as pure bullion coins whose value is intrinsically linked to it’s precious metal content only. They do issue annual Privy Mark coins around the world that many collect, which helps somewhat, but its primarily a way to buy lots of silver with a minimal penalty over the silver spot price.

One downside for many has been the presence of ‘milk-spots’, generally believed to be the result of contamination during the minting process, possibly by baked on borax. This doesn’t affect the silver value of the coin but will have an adverse effect on its numismatic value. Less of a problem with the Maple given it holds a little to no numismatic premium, but not really acceptable either given the length of time it’s been an issue. There are strong rumours that the hugely improved 2014 redesign has greatly reduced the issue.