There are several reasons why people choose to buy silver coins, many purchase silver coins for investment purposes, others buy silver as a hobby, and some purchase silver coins in order to construct a collection that they can pass down to future generations. Before making a silver purchase it is wise to know the value of the coin first.
Silver coin content: The value of silver coins minted prior to 1964 that contain 90% silver will vary depending upon the activity that is going on in the silver bullion market. Rare silver coins on the other hand receive very little of their value from their metal content.
Find out how many copies there are of that particular coin: Locate the mint mark on the coin, the mint mark on coins minted prior to 1968 can usually be found on the reverse side of the coin while the mint marks of coins minted after 1968 can usually be found on the obverse side of the coin. mint marks indicate where the coin was minted.
Another thing you will want to pay attention to is the year the coin was minted, which can be found on the obverse side of the coin. By knowing the date the coin was minted and where it was minted you can find out how many copies of the coin were minted. A coin price guide and coin encyclopedia can provide you with this information. Coins that have fewer copies tend to be the coins that are more valuable.
Consider the coins condition: Does the coin have luster, luster is when light reflects off of the coins surface. A coins luster diminishes as a coin goes through wear and tear.
Consider the color of the coin, does it have a natural hue of silver, is the color vibrant? The color of a coin can be altered by being chemically cleaned or by being handled.
See if the coin has any detracting marks that have come from improper handling or packaging and consider the coins overall eye appeal because the less attractive the coin is and the more detracting marks the coins has the less valuable the coin is likely to be.
Consider the rarity and demand of the coin. Coins that are rare and are in high demand tend to be more valuable. Coins can also have an increased value if they carry historical significance.
Silver Eagles
One of the most popular silver coins is the 1 oz American Silver Eagle. The American Silver Eagle is the official silver bullion coin of the United States. It was first released by the United States Mint on November 24, 1986. It has a nominal face value of one dollar and is guaranteed to contain 99.9% silver. The front design features Adolph A. Weinman’s “Walking Liberty” and the rear design is a heraldic silver eagle behind a shield, grasping an olive branch in one talon and arrows in the other. It is certified by the US Mint and has been produced at the Philadelphia, San Francisco and West Point mints.
Silver eagles are very popular among investors becoming the best-selling coin in the world and are one of the easiest and most affordable ways to invest in precious metals. As silver prices have risen, so has the value of silver eagle bullion coins. The silver eagles cost more than similar bullion products, but they sell back for more usually having the highest bid price for silver bullion in North America. American silver eagles are minted and guaranteed by the US government and are legal tender at $1 USD. Also, US law allows them to be included in an IRA retirement account. All of these factors make the American silver eagles very attractive to any silver buyer.
There are both advantages and disadvantages to owning American Silver Eagles. Advantages include protecting your savings against a world financial crisis, they have worldwide recognition, are highly liquid and easy to sell. However, while silver will likely never lose its appeal, you can’t sit down at your computer and sell your silver within seconds like you could a normal stock.