Are Silver Coins Magnetic?

The obverse and reverse of a South African Silver Krugerrand

Is Silver Magnetic?

Silver coins are not magnetic. Ferromagnetism is found in other metals like iron, nickel, and cobalt and their alloys. Their magnetism is the result of an alignment of atoms that act like tiny electromagnets and is called ferromagnetism. 

Does Silver Display any Characteristics of Magnetism?

Silver is a diamagnetic metal. Silver will demonstrate a slight repulsion to magnets when exposed to a strong magnet or magnetic field. It lacks unpaired electrons and therefore is not attracted to magnets. 

Diamagnetism is a property of all materials and always influences a material’s reaction to a magnetic field. Metals that exhibit primarily diamagnetic behavior, like silver, do not have unpaired electrons. 

What is the Difference Between Diamagnetic and Ferromagnetic Materials?

Materials that display ferromagnetic properties have unpaired electrons in one of several periodic blocks. Unpaired electrons can attract magnetic fields. 

These electrons align themselves with a given magnetic field. The alignment results in a magnetic field of its own, which is attracted to forces like the field of a magnet. 

Are Any Coins Magnetic?

While some coins have magnetic properties, only one circulating American coin has enough ferromagnetic material to be considered magnetic. That is the 1943 Lincoln steel penny.  

This makes looking for Lincoln steel pennies and one and two-pence coins easy with a magnet. 

Quick Guides to Investing

Step 1:

Why Buy Physical Gold and Silver?

If you are concerned about the volatility of the stock market, you’re not alone. The extreme highs and lows of the stock market often lead investors towards safe-haven assets, like bullion. Historically, the Precious Metals market has an inverse relationship with the stock market, meaning that when stocks are up, bullion is down and vice versa.

Step 2:

How Much Gold and Silver Should You Have?

This question is one of the most important for investors to answer. After all, experts suggest limits on how much of any types of investments should go into a portfolio. After deciding to purchase and own Precious Metals and considering how much money to allocate, one can then think about how much and what to buy at any point in time.

Step 3:

Which Precious Metals Should I Buy?

With the frequent changes in the market and countless Precious Metal products available, choosing investments can be difficult. Some want Gold or Silver coins, rounds or bars while others want products that are valuable because of their design, mintage or other collectible qualities. Also, collectors may shop for unique sets and individual pieces for their collections.

Step 4:

When to Buy Gold & Silver

After considering why, how much, and what Precious Metals products to buy, an investor’s next step is when to buy them. This decision requires an understanding of market trends and the impact of economic factors on precious metal prices.

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