The "SML" designation refers to the three-coin fractional set issued that year in small, medium, and large weights — a marketing format the Royal Canadian Mint had been refining since the early 2010s as collector demand for fractional silver grew sharply against bullion premiums. The .9999 fineness was the RCM's standard by this point, achieved through electrolytic refining processes the mint had long mastered at its Ottawa and Winnipeg facilities. Selective gold plating on fractional silver was introduced partly to differentiate set pieces from standalone bullion strikes and justify the collector premium over spot.
The "SML" designation refers to the three-coin fractional set issued that year in small, medium, and large weights — a marketing format the Royal Canadian Mint had been refining since the early 2010s as collector demand for fractional silver grew sharply against bullion premiums. The .9999 fineness was the RCM's standard by this point, achieved through electrolytic refining processes the mint had long mastered at its Ottawa and Winnipeg facilities. Selective gold plating on fractional silver was introduced partly to differentiate set pieces from standalone bullion strikes and justify the collector premium over spot.