Guide
Sovereign vs generic silver: what's the difference?
Sovereign silver is coins struck by a national government's mint, like Silver Eagles and Maple Leafs. Generic silver is rounds and bars made by private mints. Both can be .999 silver, but sovereign coins sell for more.
Updated October 26, 2026 · Prices as of November 3, 2026, 4:45 p.m. Pacific
The two kinds
| Sovereign coins | Generic rounds and bars | |
|---|---|---|
| Made by | A government mint | A private mint or refiner |
| Face value | Yes: legal tender, such as $1 on a Silver Eagle | None |
| Weight and purity | Backed by the issuing government | Backed by the maker's name and stamp |
| Examples | American Silver Eagle, Canadian Maple Leaf, British Britannia, Austrian Philharmonic, and Australian Kangaroo | 1 ozt rounds, 10 ozt and 100 ozt bars, and 1 kilo bars |
| We pay today, per ounce of silver | $46.99 (95%) | $44.51 (90%) |
Why sovereign coins pay more
- Recognition: buyers everywhere know what a Silver Eagle or Maple Leaf is and what it contains, so they resell quickly.
- A government mint behind them: the issuing mint stands behind the weight and purity, and newer coins carry anti-counterfeiting features.
- They cost more to buy: sovereign coins sell for a higher premium over the silver price than rounds and bars, and that premium carries through to what a dealer pays.
Generic silver is the cheapest way to buy silver by the ounce, and it's priced closer to the metal alone when you sell.
Condition matters for sovereign coins
Our sovereign rate is for brilliant uncirculated (BU) coins. Sovereign coins that are scratched, spotted, worn, or damaged are priced as generic .999 silver. Keep coins in their tubes or capsules, and don't clean them.
Not to be confused with the British sovereign
The sovereign is also the name of a British gold coin, struck since 1817. That's a different thing; see what a gold sovereign is worth.
Silver guides: American Silver Eagles · Maple Leafs · Britannias · Philharmonics · Silver rounds · Silver bars · Silver Eagle vs Maple Leaf · All guides
We pay more for silver than pawn shops and jewelers, at a published percentage of the Kitco bid. The best place to sell silver
Buying or selling
Want the lowest premium?
Generic silver costs the least over spot, and we often have it as low as spot. Selling? Our percentages are published too.