Silver Coins- Current Ways On How Silver Coin Prices Are Determined

Aug 03

Silver coins can be more than just a lucky charm. It can also be form of investment for companies and even average American families. Silver coin prices are undoubtedly lower than the price of gold coins, thus many individuals are able to purchase them and consider them as wise investments.

Throughout history, people have been using silver for their currencies. This is why a lot of collectors in recent years have started searching for silver coins to add in their vast and interesting hobby. The rich history and rarity of coins is what makes silver coin prices high when melted or appraised. Silver coins in the United States are either bullions or from the coins series of earlier years. Some art collectors prefer collecting them rather than melting them for profit.

There are also a lot of countries aside from the United States which produces high-grade coins using silver as the material for their currency. Our neighboring country, Mexico has these coins which are 90% silver. Canada on the other hand has their Silver Maple Series which is 99.99% high investment grade. They can retail at $29 per piece. Our very own silver bullion, the American Silver Eagle has a face value of $1.00 and is priced at $29.31.

The current prices for other types of vintage coins can be sold and exchanged for our usual currency. The price is highly dependent on the year the coin was issued and the silver concentration of the coin. Most of these coins have a 90% proof and sell for $1.65 for a $0.05 face value to $22 for a $1.00 face value. Another criterion that adds up to the worth of a silver coin is its rarity. The rarer a coin is the more valuable it is.

The prices can also depend on a collector’s take on them. There are several collectors which sells some vintage coins dated 1932 for $5 for 10 pieces. This is a good bargain for starting coin collectors. Old-time coin collectors sell their excess coin collections for several reasons. Some may find them invaluable or they already have a bunch of coins with the same year and denomination.

Silver as a commodity still proves to be valuable metal in the market today. This is the main reason why silver coin prices are still high compared to other forms of investment. It is then an assurance that when you invest in coins, you can surely gain back good profit from it.