You can pick up a coin book from your local bookstore or even the library and start flipping through it to get an idea of coin values. That’s why educating yourself on coins and coin values is so important.
Just because some of them look like the coins we still use today doesn’t make them worthless! You don’t want to pay premium prices for regular silver coins!Īlso, be careful of people trying to pay you almost nothing for your coins. Be wary of “amazing” deals offering “rare” coins for high prices. When you start trying to buy or sell silver coins, remember that there are a lot of scammers out there who will try to trick you. It’s very hard to beat the premiums on buying and selling silver coins in a short amount of time! What to Keep in Mind When Buying and Selling
#Silver coins value free
Because junk silver coins aren’t tied to the US dollar anymore, their value is free to fluctuate independently of what the dollar does.Įven if you’re not worried about economic collapse or inflation of the dollar, other people are! There’s a real benefit to investing in things that people panic-buy, and you’re unlikely to lose money in the long term with junk silver.Īs with other precious metals, you should invest in silver with the plan of making this a long-term investment. A general trend is that as people fear the economy failing, they buy junk silver as a means of insurance against financial collapse. Junk silver coins not only reflect the day-to-day silver market price, but also peoples’ fears about the economy.
#Silver coins value how to
Yes, silver coins make great investments! But as with any investment, you need to research and learn how to invest wisely. You have to be wary of scams and shady deals though! Do They Make Good Investments? There is more selection available online, and it’s easier to shop around and compare prices. That’s why many investors turn to online stores to get their silver coins. They also sometimes have a more limited selection of coins than what many investors are looking for. However, they often charge a premium on their coins. These also have their own pros and cons.Īn LCS can give you a lot of good information on coins and be a great resource for starting out. Many people will shop online or at their Local Coin Shop (LCS) for junk silver coins. Don’t be fooled into thinking all your coins are valuable because they’re silver-colored! The best way to tell if a coin is silver is by looking at the date to see if it’s from 1964 or earlier.
Many people buy rolls and boxes of coins from the bank for this exact purpose! However, it takes a long time to find many silver coins, and many folks find that their rate of return isn’t worth the effort.Įven if you don’t buy rolls to search through, it’s always worth looking through your change for the occasional silver. The cheapest but most time-consuming method of getting junk silver coins is to search through change for the occasional silver coin. Each method has its own drawbacks and benefits, including the costs and time involved. There are a few key ways you can get junk silver coins to add to your collection or investment portfolio. However, because they’re so easy to identify and have set amounts of silver in them, they’re great coins for investments! How Can You Get Them? They’re often relatively newer and in poor condition, making them not very valuable to coin collectors. These are known as “numismatic” coins, which means they have value because of their year, condition, design, and other features, in addition to their silver value.Ī junk silver coin is still silver, but it doesn’t really have any additional value. Many of these older coins are worth a lot to collectors today, such as a rare silver dollar sold this year. The first thing you should know is that the term “junk” doesn’t mean the coins are worthless! Rather, these are coins that aren’t worth much more than their inherent silver value.Īll quarters, dimes, half dollars, and dollars minted before 1965 were silver. There are a couple of key things that will put a coin in this category, though sometimes the definition can be a little fuzzy depending on who’s classifying the coins.
The term junk silver can be confusing to a lot of people. So what makes a junk silver coin, and are they good investments for you? Read on for everything you need to know about these silver coins! What Are Junk Silver Coins? In fact, many people saved these so-called junk silver coins, and even today, people still buy and sell them. But even though those silver coins were no longer made, they didn’t go away! Gone were the days of silver and gold coins, and in their place came coins made of copper and nickel. With the Coinage Act of 1965, United States coins were changed forever. Are Junk Silver Coins a Good Investment? A Closer Look April 19th, 2022
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