Silver coins are among the most valuable of the coins people collect year to year. There are a few different reasons for this. Knowing the reasons for the silver coin value to go up will help you to understand whether you are getting a good deal on a coin you are looking to purchase or if you are purchasing something which is overpriced. You will also be able to determine whether your collection is of extreme value to other collectors or just to yourself.
Rare Coins Are Worth More
Coins which are rare will go up in value by a considerable amount. You can find out how rare a coin is by checking to see how many there are known to exist. The lower the number of coins that exist, the more valuable the coins are likely to be worth in the long run. Reasons for limited numbers can be for reasons of limited production, recalls or simply being a coin which was heavily used so it was heavily lost as well. Coins like the 1804 silver dollar have less than 20 in existence and have extreme silver coin value as a result.
The Purer the Coin
Most silver coins are not made with pure silver. This is because silver has always had value. To make sure that the coins were not originally worth more than what they were struck as, they were melted and struck with other metals mixed in. These were usually sandwiched between silver layers. The more silver there is in a coin, the more it will be worth. This is both because the purer coins are rarer as well as the fact that the higher the purity of the coin, the more the silver coin value.
Grading is Very Important
One of the best ways to determine the silver coin value is to determine the grade of the coin. In general, all things being equal the grade of the coin from one level to the next will cause the value to jump two to three times. This is taking into account mars and markings which the coin might have picked up along the way. The closer the coin is to Mint State, the more it is worth. The most expensive coins are those which appear as if they have never been touched or damaged.
The Value of the Metal Itself
There are times when a coin has been forged or it has been used so heavily that it has no trade value at all. The only silver coin value you will be able to find is in the bullion market itself. This means that the coin will only be worth its weight. This is still a pretty good way to get some cash because the best forgeries still use pure silver as a way to make it appear as if the coin is worth a lot more than it actually is. While you might not have a $10 million piece, you might still have something worth a few hundred.
Photo Credits: kevindooley
Originally posted 2010-09-03 09:17:02. Republished by Blog Post Promoter
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Coin Collecting, Coin Value, Rare Coins, Silver Coins, Silver Dollars
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