Eric Sepanek
SBC Founder
Eric Sepanek is the founder of Scottsdale Bullion & Coin, established in 2011. With extensive experience in the precious metals industry, he is dedicated to educating Americans on the wealth preservation power of gold and silver.
Add SBC on Google as a preferred source to see more market related news like this when you search.
Nearly all silver investors decide between an American Silver Eagle and a Silver Britannia at some point in their investment journey. Whether you’re entering the precious metals space for the first time or topping off your silver stockpile, these benchmark coins always enter the discussion.
They’re backed by some of the most financially sound governments in the world, feature iconic imagery, and enjoy robust precious metals contents—highly sought-after characteristics for silver investments.
In this head-to-head comparison, we’ll dive into the features of both coins to help you decide if an American Silver Eagle or Silver Britannia should earn a spot in your portfolio.
| Silver Eagle | Silver Britannia | |
|---|---|---|
| Purity | .999 silver | .958 silver (1997–2012) .999 silver (2013–present) |
| Sizes | 1 oz | 5 oz, 1 oz, 1/2 oz, 1/4 oz, 1/10 oz, 1/20 oz, & 1/40 oz |
| Mint Years | 1986–present (bullion) 1986–2008, 2010–present (proof) 2006–2008, 2011–present (uncirculated) | 1997–present |
| Mintage Numbers | 691,159,387 | Hundreds of millions |
| Versions | Bullion & Proof | Bullion, Proof, & Special Editions |
| IRA Eligibility | Yes | Yes (from 2013) |
Historical Background of the American Silver Eagle vs the Silver Britannia
The American Silver Eagle: Born from US Silver Reserves
The Silver Eagle is the official bullion coin of the United States, establishing it as a mainstay investment for Americans.
Launched in 1986, the Silver Eagle was part of a broader move to gradually reduce the country’s massive stockpile of silver, which many saw as a threat to silver market stability.
The Liberty Coin Act of 1985 greenlit the Silver Eagle program, propelling these silver bullion coins to widespread recognition and popularity. If you’re weighing the Silver Eagle against other bullion coins, our Silver Eagle vs. Maple Leaf comparison is a good next read.
Silver Britannia: The UK’s Silver Bullion Response
More than a decade after the Silver Eagle’s release, the British Royal Mint introduced the Silver Britannia in 1997. Following the success of the Gold Britannia, the government wanted to offer a silver alternative.
It didn’t take long for the silver bullion coin to become a favorite among British and European investors and, eventually, Americans.
Purity Comparison: American Silver Eagle vs Silver Britannia
Typically, bullion coins are minted with significant precious metal content, given their investment priority. Both American Silver Eagles and Silver Britannias live up to this expectation with some important distinctions.
The official American silver bullion coin has always been minted with a .999 purity, meaning 99.90% of the coin’s weight is pure silver. Every mint date, size, and version of the coin reaches this level of purity.
Silver Britannias took a while to catch up. Between 1997 and 2012, these British bullion coins had .958 silver. Since 2013, the purity has reached the now standard .999.
Sizes and Weight Options: American Silver Eagle vs Silver Britannia
The American Silver Eagle is only released in a standard one-troy-ounce size. In contrast, Silver Britannias come in a lineup of fractional sizes and some even greater than 1 oz. This range of sizes offers investors various entry points for more flexible and incremental investments.
Silver Eagles
| Size | Face Value |
|---|---|
| 1 oz | $1 |
Silver Britannias
| Size | Face Value |
|---|---|
| 5 oz | £10 |
| 1 oz | £2 |
| 1/2 oz | £1 |
| 1/4 oz | 50p |
| 1/10 oz | 20p |
| 1/20 oz | 10p |
| 1/40 oz | 1p |
Coin Design: National Symbols on the American Silver Eagle vs Silver Britannia
These coins feature designs and themes emblematic of their country.
Patriotic Imagery on the American Silver Eagle
The American Silver Eagle features an image of Lady Liberty walking majestically towards the sun on the horizon with her right hand outstretched and her left clutching an olive branch.
Between 1986 and 2021, the reverse depicted a heraldic eagle behind a shield, clenching an olive branch and arrows in its talons. Since 2021, the design has been of an eagle landing with an oak branch.
Royal and Mythical Symbols on the Silver Britannia
All Britannias feature the British monarch on the obverse. Queen Elizabeth graced the silver coin until her passing, when the bust of King Charles III took over. The reverse side depicts the eponymous Britannia—the personification of Great Britain. She stands tall with a shield in one hand and a trident in the other, signifying strength and protection.
Security Features: Anti-Counterfeiting in the American Silver Eagle vs Silver Britannia
Silver Eagles and Silver Britannias are commonly targeted by counterfeiters because of their high mintage numbers and widespread demand. To protect investors and limit the number of fakes, the American and British governments equipped these silver bullion coins with advanced security in recent years.
The Royal Mint began producing Silver Britannias with latent images, textured patterns, and micro-text in 2021. That same year, the Silver Eagle received a missing reeded edge portion along with micro-engraving.
The Value of American Silver Eagles vs Silver Britannia
Silver Eagles and Silver Britannias closely track the spot price of silver due to their high precious metal content and lack of numismatic value.
For instance, a 1-oz version of each coin would be worth around $35 if the silver price were $35. In other words, both bullion coins tend to derive the majority of their worth from their silver content.
Their primary status as bullion investment coins and high mintage numbers limit the extent to which value can be derived from historical significance, scarcity, or other numismatic features.
Interestingly, Silver Eagles tend to attract higher dealer premiums, owing to their extreme popularity stateside.
Mintage Numbers: American Silver Eagle vs Silver Britannia Availability
Governments tend to mint bullion coins in large quantities because they’re primarily used to encourage precious metals investments. As a result, both American Silver Eagles and Silver Britannias exist in considerable numbers.
To date, 691,159,387 Silver Eagles have been minted. That includes bullion, proof, and uncirculated versions.
From 1998 to 2010, the Royal Mint published annual mintage figures, showing limited production runs each year. However, starting in 2013, Silver Britannias shifted to a “mint-to-order” model, after which the Royal Mint stopped publicly disclosing production numbers.
Despite the lack of recent official data, it’s widely accepted that hundreds of millions of Silver Britannias have been minted, given healthy original production records and growing popularity.
Coin Versions: Bullion, Proof, & Special Editions Compared
Both the American Silver Eagle and Silver Britannia are so popular that their respective mints have released them in various versions, giving investors more choices to fit their specific needs. This variety allows for a broader range of investment options, catering to everyone from standard bullion buyers to collectors looking for something special.
The Silver Eagle has been produced in bullion, proof, and uncirculated versions, with mintages of 657,646,982; 28,724,812; and 4,787,593, respectively.
The Silver Britannia also comes in bullion and proof versions, with special editions often created to commemorate important events, people, or dates. Again, the Royal Mint doesn’t publish mintage numbers like the US Mint, so exact numbers are difficult to determine.
IRA Eligibility: Can You Use Silver Eagles and Britannias in a Retirement Account?
Many precious metals investors make the mistake of keeping physical metals out of their nest egg. Contrary to popular belief, there are eligible precious metals for IRA investing.
Through a special self-directed retirement account, commonly known as a silver IRA, investors can put tax-advantaged dollars toward physical silver assets.
Every Silver Eagle is permitted in a precious metals IRA due to their high precious metals content. However, only Silver Britannias minted in 2013 and after are allowed since earlier versions failed to meet the Internal Revenue Service’s requirements of 99.9% purity.
If you’re deciding between other IRA-eligible coins, see how the Silver Eagle stacks up in our Morgan Dollar vs Silver Eagle guide.
Silver Eagles vs Silver Britannias: What’s the Better Investment?
The Silver Eagle and Silver Britannia are exemplary bullion coins, featuring official government backing, high precious metals content, tax advantages, exceptional standards, and high popularity. However, choosing between these silver assets ultimately depends on your specific financial goals.
Still deciding on the right format for your silver holdings? Our Silver Coins vs. Bars guide can help.
Speaking with a precious metals advisor can ensure your precious metals assets align with your investment objectives. An advisor at Scottsdale Bullion & Coin would be happy to discuss your unique situation to offer tailored advice. Contact us today by calling toll-free at 1-(888) 812-9892 or using our live chat function.