The use of silver coins can be tracked back right to the kingdoms of Asia Minor in the year 600 BCE. This practice quickly out grew its boundaries with the Greeks and later other European kingdoms coming in the act. Due to its durability, light weight and its rareness, using silver for coins only had to become ever more popular all around the world. Today, even though the silver coins themselves have changed a lot in form, silver coins still have a very high market value as people are still selling silver coins.
Collecting Silver Coins
Silver coins are very much collectible. Due to their high monetary value and durability, one can collect the coins over a very long period of time without to much fear of rust. Also, the older the coins, the more monetary value it has, as people are always in search for that very rare piece of material. Whilst collecting them, proper attention should be paid as dented coins may lose some market value or even be rejected; unless the dent occurred during a historic moment. Firstly, you need to separate the ‘good’ coins from the ‘bad’ ones, and the new ones from the old ones after which you should be able to evaluate their worth. The amount of silver found in a coin is very much responsible for the price you’ll get for that coin and the price for silver changes very regularly; so you need to get some update about the current price for silver in the market.
Selling Silver Coins
– Silver coins made in the U.S and dates before 1916 carries a silver value premium i.e. can be sold above the current price of silver in the markets.
– Coins which date from 1916 to 1940 are also very much valuable, as they contain a rare and common silver mixture.
– Other silver coins like the Roosevelt dime, Washington quarter and the Franklin halves are very much sold at a good price and carry dates which are premium.
– Silver coins made from 1916 to 1930 of the Standing Liberty Quarter seems to be losing its base value, hence most of them are valued higher.
– There is about 90% of pure silver in US dimes, half dollars and quarters made before 1965.
Where To Sell Silver Coins?
Haven divided your coins into most and least valuable, you may then look for buyers. The least valuable ones can be sold at a local coin shop at a price that is usually 3% or 5% of the current price of silver in the market.
Next are the more valuable ones. Paying attention is very important as after all it is business; searching online, auctioning them, or even exposing them in coin shows may give good value for money.
So, selling silver coins isn’t easier said than done. A lot of research as to the current price of silver in the markets, the dates and the types needs to be done.