Canadian Silver Maple Leaf: specs, security features and IRA status

At a glance

Maker	Royal Canadian Mint
Silver content	1 troy oz of 99.99% pure silver
Weight	31.11 g
Diameter and thickness	38 mm; about 3.29 mm
Face value	5 Canadian dollars
First issued	1988
Security features	Radial lines and a micro-engraved maple leaf (since 2014), Bullion DNA (2015 and later)
Surface protection	MintShield, against white spots (2018 and later)
IRA status	Generally accepted
Premium, September 2026	10.0% to 13.1% over spot at three large online dealers

Design and specifications

The reverse shows a single sugar maple leaf, Canada’s national symbol, with the coin’s weight and purity. The obverse carries the portrait of the monarch. Most coins dated 2024 and later show King Charles III, and earlier coins show Queen Elizabeth II.

The coin weighs 31.11 grams and measures 38 mm across, with a serrated edge. Its 99.99% purity is higher than the American Silver Eagle’s 99.9%. The Royal Canadian Mint has no fixed mintage for the standard bullion coin and strikes it to meet demand.

Security features

The Silver Maple Leaf is one of the harder bullion coins to fake.

• Radial lines. Since 2014, the background of both sides has been covered in fine radial lines, machined to within microns, which catch the light in a way that’s difficult to copy.
• Micro-engraved maple leaf. Also since 2014, a small laser-engraved maple leaf on the reverse contains the last two digits of the year, such as “26” on 2026 coins. You can see it with a magnifier.
• Bullion DNA. On coins dated 2015 and later, dealers with the Mint’s reader can check the micro-engraving against the Mint’s registered dies.
• MintShield. Since 2018, the Mint has treated the coins’ surfaces to reduce the white spots, sometimes called milk spots, that can appear on silver bullion. It reduces them but doesn’t eliminate them. The spots don’t affect the silver content.

A fake can still get past a quick look, so buy from established dealers. Our guide to telling if gold is real covers tests that work for silver too.

Silver Maple Leaf vs. American Silver Eagle

	Canadian Silver Maple Leaf	American Silver Eagle
Maker	Royal Canadian Mint	U.S. Mint
Purity	99.99%	99.9%
Weight	31.11 g	31.103 g
Face value	5 Canadian dollars	1 U.S. dollar
Premium over spot, September 26, 2026	10.0% to 13.1%	15.4% to 26.1%
IRA status	Generally accepted as bullion	Named in the law

At each of the three dealers in our premium check, the Maple Leaf cost $3.50 to $10 less than a 2026 Silver Eagle. Both contain an ounce of silver. The American Silver Eagle guide covers the U.S. coin.

Is the Silver Maple Leaf allowed in an IRA?

Generally, yes. The tax code allows IRAs to hold silver bullion that meets the purity required for delivery on a regulated futures contract, which is 99.9% for silver. The Maple Leaf’s 99.99% clears that, and custodians commonly list it as eligible. The metal has to be held by your custodian’s depository, and special editions with colorized designs or privy marks may be treated differently, so check your custodian’s approved list. Our guide to silver IRAs explains the rules.

Buying and selling

Standard Silver Maple Leafs come in tubes of 25 coins and in larger boxes. The Mint also sells premium editions with privy marks, which cost more than the standard coin and don’t hold any more silver.

When you sell, dealers pay less than they charge. In our September check, Money Metals Exchange would have bought a 2026 Maple Leaf back for $60.98, about 6% below the spot price, after selling it for $73.47. It would have paid $63.98 for a Silver Eagle, so part of the Maple Leaf’s saving is lost when you sell. Gains are taxed as collectibles, at a top federal rate of 28% for coins held more than a year, as our guide to how silver is taxed explains.

Frequently asked questions