In 2019, the Royal Canadian Mint (RCM) released three official precious metals coins engraved with an Orca (Killer Whale). This is a continuation of the RCM’s interest in releasing wildlife-focused coins, which started in September of 2010 with a Silver Wolf coin that was 99.99% silver.
Whether you are a seasoned coin collector looking for the most recent Canadian wildlife coin release, or you are an investor considering the 2oz. Canadian Silver Orca Coin for your IRA portfolio, read this review first to determine if the Silver Orca is the right coin for you.
What is a 2oz Canadian Silver Orca? [Review & Coin Details]
The RCM, one of the most respected and trusted mints in the world, recently released three Orca coins for collectors and investors.
These three coins consisted of the following:
- Silver Orca-99.99% Silver weighing 2oz. with a denomination of $10 CAD
- Silver Orca-99.99% Silver weighing 10 oz. with a denomination of $50 CAD
- Gold Orca-99.99% Gold weighing 0.25 oz. with a denomination of $10 CAD
The reverse of the coin displays the carved whale descending gracefully toward the ocean floor with a rolling hill background and dorsal fin poking about the water’s surface.
Like the other precious metals Orca coins released by the RCM, the border has a radial line pattern that 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, which means “Elizabeth II, by the grace of God, the Queen”.
Value of 2 oz. Canadian Silver Orca
The value of 2 oz. Canadian Silver Orca coins will vary based on a few different factors. First, you will want to look at the daily spot value of silver, keeping in mind that the number is for 1 oz. of silver and your coin is 2 oz. Remember, this number will fluctuate daily, so an exact value of this coin cannot be nailed down as an absolute.
The value of coins isn’t just based on the spot value, though. Premium coins are often worth more because of their design, production quantities, and consumer demand. While we cannot give you an exact value of the 2 oz. Canadian Silver Orca, we can safely say that it is a coin that is worth more than its $10 CAD face value. To get an accurate value of your coin, contact a precious metals provider that you trust.
Silver Coins in a Precious Metals IRA
Did you know you can add precious metals, including approved coins, to your retirement IRA? A precious metals IRA is a special type of self-directed IRA where investors can diversify their accounts with the addition of gold, silver, and other precious metals while protecting them from a volatile stock market and severe drops.
The IRS does limit the types of coins that can be added to your IRA, but with a purity percentage of 99.99% silver, the 2 oz. Canadian Silver Orca exceeds the minimum requirement of 99.9% set up by the IRS.
Is Buying the 2 oz. Canadian Silver Orca a Good Investment Decision?
Canadian Silver Orca coins of any purity weight are not rare coins by any means. Unfortunately, unscrupulous coin brokers often try to convince the public that the Orca coin is rare due to three market conditions, which include:
- The coins were only issued by the RCM in 2019.
- There are only certain dealers that are offering the coins and they often claim they have exclusive rights.
- The Royal Canadian Mint’s website does not feature 2019 Silver Orca coins, so collectors only have the word of dealers and no official information from the RCM as to their background and rarity.
Remember though, 2 oz. Silver Orca coins do have a value, but it is not much more than the spot price on any given day and as long as you keep that in mind, you won’t be overcharged for a coin that is common.
Final Thoughts on 2 oz. Canadian Silver Orca
Diversification of your investments is a cardinal rule in investing. IRAs that allow for precious metals allow investors to blend the benefits of purchasing assets (gold, silver, platinum, etc.) with the additional freedom to make pre-tax contributions and non-taxable investment decisions. This makes silver attractive, especially as a protection against inflation.
Depending on your financial goals and investment portfolio, the 2 oz. Canadian Silver Orca coin may be a good coin to add to your collection.