American Silver Eagle vs Canadian Maple Leaf: Which Is the Better Investment in 2026?
By G&SS Founder · April 29, 2026 · 7-minute read
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Educational only: This article is for general information and is not investment, tax, or legal advice.
The quick answer
If you're buying for the lowest cost-per-ounce of recognizable government silver, the Canadian Silver Maple Leaf wins almost every time. Today's cheapest Maple Leaf is at — a premium of over spot, while the cheapest Silver Eagle sits at at over spot.
If you're buying for resale liquidity, US brand recognition, and the strongest premium recapture when you sell, the Silver Eagle is still king. The "better investment" depends on which of those matters more.
The basics: what you're actually buying
Both coins are 1 oz of pure silver, both are legal tender at home, both are produced by sovereign mints. From a metal standpoint they're nearly identical. The differences are in the details and the details influence the premium.
American Silver Eagle. US Mint, 1986 to present. 1 troy oz of .999 fine silver, $1 face value. Walking Liberty on the obverse, heraldic eagle on the reverse (redesigned 2021). Historically the best-selling silver bullion coin in the world and there are plenty of reasons why.
Canadian Silver Maple Leaf. Royal Canadian Mint, 1988–present. 1 troy oz of .9999 fine silver, a step purer than the Eagle. $5 CAD face value. The iconic maple leaf on the reverse, with micro-engraved security features added in 2014.
The price gap in that table is the entire investment thesis in one number. Maple Leafs almost always carry a 2–4% lower premium than Eagles, and in some markets the gap stretches to 5% or more. On a single coin that's a few dollars. On a 500 coin "Monster Box", that's real money.
Purity: does .9999 actually matter?
Short answer: nahhh… not really, at least not in the way most beginners think.
Eagles are .999 fine, Maple Leafs are .9999 fine, sometimes called "four nines" silver. The Canadian mint started minting .9999 fine coins as a marketing differentiator. Both are well above the threshold for investment-grade bullion. A Maple Leaf has 1.0000 troy oz of pure silver; a Silver Eagle has 0.999 troy oz plus a trace of copper for hardness.
Where purity actually matters is durability. Pure silver is soft. The copper in Eagles makes them more resistant to scratches and milk spots, though milk spotting can happen on any silver coin, and Maple Leafs have historically been more prone (However the Canadian Mint now washes their coins in a detergent that makes them milk spot resistant). Stored in tubes and untouched, both are fine. Handled regularly, Eagles wear better.
Premium: where the real difference lives
The premium gap is the single biggest factor in deciding which is the better pure investment. Three things drive it:
Mint margin. The US Mint charges authorized purchasers a higher premium per ounce than the Royal Canadian Mint. As of 2026, the US Mint's runs roughly $2.00–$3.00/oz; the RCM's is closer to $1.50–$2.00/oz.
Demand. Eagles are the most-recognized silver coin in the US, and American buyers ask for them by name. That keeps Eagle premiums elevated even when spot is calm. During demand spikes (2020, 2022, briefly in early 2025) Eagle premiums have blown out to 30%+ over spot while Maple Leafs stayed in the 12–15% range.
Resale recapture. This cuts the other way. US dealers will typically buy Eagles back at 1–2% higher premium than Maple Leafs, so part of what you pay on the way in, you get back on the way out. Not all, but some.
In the US, Silver Eagles are easier to sell. Every coin shop knows the design, the year, the premium. You can walk in anywhere and unload a tube of Eagles in five minutes. Maple Leafs are widely accepted too, but you may get a slightly lower buy-back simply because of American stackers like their eagles, thus the demand is higher.
Internationally, the Maple Leaf has the edge. Outside North America, the Eagle is recognized but not always preferred, the RCM's purity reputation travels well, and Maple Leafs trade more uniformly in European and Asian markets.
Ultimately, if you're in North American, both are widely recognized and held in high regard. Long story short, if you live in the U.S. buy ASE. If you live in Canada, "God save the Queen" or King, now…
The hidden costs (same as any silver purchase)
Payment method. Listed prices on every major bullion site assume wire transfer. Credit cards typically add a 3–4% surcharge that compounds on top of the premium. We covered this in Wire Transfer vs Credit Card.
Shipping. Most dealers offer free shipping above a minimum order. A single tube of either coin will easily clear that threshold.
Sales tax. Several states still charge tax on bullion below a certain order size; California, for example, exempts orders over $2,000. A 7–9% sales tax bill can erase years of premium savings. Check your state.
So which one should you actually buy?
Three honest recommendations depending on what you're optimizing for:
If you want the lowest premium government silver: buy Canadian Silver Maple Leafs. You'll save 2–4% on every ounce versus the Eagle, and across a meaningful stack that compounds into hundreds of dollars.
If you want the easiest US resale and the strongest premium recapture: buy American Silver Eagles. You pay more up front, but you sell for more, and the liquidity in any US coin shop is unmatched.
If you can't decide: buy both. Most experienced stackers I know hold a mix; Eagles for US-side liquidity, Maple Leafs for the volume play. They go on sale at different times, so buying both lets you grab whichever has the lower premium each week.
Frequently asked questions
Frequently asked
Is a Silver Maple Leaf really better silver than a Silver Eagle?
It's purer — .9999 versus .999 fine — but the practical difference is negligible. A Maple Leaf has one troy ounce of pure silver; a Silver Eagle has 0.999 of an ounce plus a trace of copper for durability. For investment purposes the metal content is functionally identical.
Why is the Silver Eagle premium so much higher?
Two reasons. The US Mint charges authorized purchasers a higher premium per ounce than the Royal Canadian Mint, and US retail demand for Eagles is structurally stronger. Both push the Eagle premium 2–4% higher in normal markets and much higher during demand spikes.
Do Maple Leafs really milk-spot more than Eagles?
Historically yes. The RCM's 2018 coating treatment has reduced the issue significantly, but pre-2018 Maple Leafs are still more prone than Eagles. If cosmetic condition matters for long-term storage, factor this in.
Which one holds its value better?
Both track spot almost identically over the long run. Eagles tend to hold a higher resale premium in the US. Outside the US, Maple Leafs often trade closer to or above the Eagle.
Can I mix Eagles and Maple Leafs in the same stack?
Absolutely, and most experienced stackers do. They store identically and the mix gives you flexibility on the resale side depending on which buyer you're working with.
The bottom line
For pure cost-per-ounce of recognizable government silver, the Canadian Silver Maple Leaf is the better buy in 2026. For US resale liquidity and premium recapture, the American Silver Eagle is still the standard. Neither is wrong... they solve different problems.
