With an almost endless supply of coins on the market, it can be difficult to decide on what coins will be best for you and your investment money. 10 oz. Canadian Silver Orca is a gorgeous coin, but you can’t always judge a book (or coin) by its cover (or design). If you’re looking at purchasing one of these coins for your collection, you may first want to read this 10 oz. Canadian Silver Orca Review before you hand over your hard-earned cash.
What is a 10oz Canadian Silver Orca? [Complete Review & Details]
In 2019, the Royal Canadian Mint (RCM) issued three official bullion coins engraved with a killer whale (Orca) that is diving into the ocean as a representation of their continued interest in wildlife coins.
These three coins consisted of the following:
- Silver Orca-99.99% Silver weighing 2oz.
- Silver Orca-99.99% Silver weighing 10 oz.
- Gold Orca-99.99% Gold weighing 0.25 oz.
The reverse of the coin displays the carved whale descending toward the ocean floor with a hilled coastline in the background. The border has a radial line pattern that not only frames the coin but also acts as a layer of security for the coin’s owner/seller. These lines bear inscriptions of the coin’s country of origin and mint date (Canada 2019), as well as metal content and quality (FINE SILVER 2OZ ARGENT PUR).
Collectors will also see the number “9999” engraved beneath the Orca’s bottom fin and a Canadian maple leaf in the right corner of the coin.
On the obverse of 10 oz. Canadian Silver Orca Coin is the head of Queen Elizabeth II designed by Canadian sculptor Susanna Blunt, which has been in use since 2003. The Queen, who is seen on every coin minted in Canada, has short hair that is neatly styled and she has a strand of pearls about her neck. Engraved on the radial lines bordering the coin are “Elizabeth II”, “10 DOLLARS”, and D.G. REGINA.
Value of 10 oz. Canadian Silver Orca
The price of gold and silver varies constantly, thus the value of your 10 oz. Canadian Silver Orca will also vary by the day. What is a constant, however, is that the price of the silver coin will be directly tied to the spot price of silver, which can vary by the minute!
To quickly find a rough estimate of your 10 oz. Canadian Silver Orca value, you can multiply the spot price of silver by 10 because this is a 10 oz. coin. Remember, though, that this is an estimate, only a precious metals expert can give you an exact price.
Silver Coins in a Precious Metals IRA
Not everyone knows that you can add coins to your retirement account, but you can! A precious metals IRA is a type of Self-Directed IRA that allows you to invest in precious metals as a way to diversify your portfolio. The IRS has regulations on what types of coins can be added–such as minimum purity level.
10 oz. Canadian Silver Orca exceeds the minimum requirement (99.9%) by coming in at 99.99% purity.
Is Buying the 10 oz. Canadian Silver Orca a Good Investment Decision?
10 oz. Canadian Silver Orca is not a rare coin by any means and collectors and investors should be aware that coin brokers often try to convince the public that the Orca coin is rare. They can do so because of three market conditions:
- They were only issued by the RCM in 2019.
- Only certain dealers are offering the coins and claiming they have exclusive rights.
- The Royal Canadian Mint’s website does not feature 2019 10 oz. Silver Orca coins, so collectors only have the word of dealers and no official information from the RCM.
Remember, the 10 oz. Silver Orca coins do have value, but it is not much more than the spot price on any given day.
Final Thoughts on 10 oz. Canadian Silver Orca
Everyone will have different ideas as to the best investments for them, and what works for you may not work for me. When you are deciding on investments you should always consider your portfolio, your investment goals, and what you want to spend, among other important factors.
When you’re ready to add coins to your investment portfolio, including 10 oz. Canadian Silver Orca, consider meeting with a reliable precious metals investment company and weighing all your options before rushing head-first into something that may or may not work for you and your retirement.