The Maple Leaf Coin was first produced at the Royal Canadian Mint in 1988 and it has been minted annually ever since. The coin is no doubt one of the most beautiful silver coins in the world with a composition of 99.99% pure silver. The serrated-edged coin is 3.29 mm thick with a diameter of 37.97 mm. The 1 troy ounce silver has a face value of $5 (CAD). Since its first production in 1988, there have been three different special editions with each edition having a side portrait of Queen Elizabeth II on the obverse from different designers.

The first version had a portrait of the Queen by Arnold Machin, from 1988 to 1989. The second version had a portrait of the queen by Dora de Pedery-Hunt, from 1990 to 2003. The latest edition has the portrait of the queen by Susanna Blunt, since 2004. However, the reverse of the coin has always been the same maple leaf until new security features were added to the coin in 2014. These features include microscopic engravings and radial lines. Rounding the edge of the coin on the obverse are inscriptions of “ELIZABETH II” and “5 DOLLARS” which is followed by the mintage year of the coin. On the reverse, the rounding inscriptions are “CANADA” and “FINE SILVER 1 OZ ARGENT PUR”. On either side of the maple leaf is the purity level of the coin.

The coin is accepted as legal tender in Canada so it can be used to carry out normal transactions within the country. Also, the face value of the coin should not be confused with the intrinsic value of the coin. The intrinsic value is based on the value of the silver metal itself on the precious metals market. There have been special editions of the coin such as the fractional editions, colored and hologram editions and commemorative editions. There were even editions that were used to celebrate nature, by having themes relating to the natural world. With the popularity of this coin, it goes without saying that the coin is IRA eligible.

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