Our Experts Discuss How to Properly Value Your Silver Coins or Bars
Silver coin value is determined by four factors...
rarity, grade, quality and popularity.
Rare coins have the highest value due to their rarity. The rarity can be due to the limited number of coins struck by the mint or the number of coins available or the number of coins in current circulation.
In the US, silver coins have often been melted down by governmental order for the silver content resulting in an increased value in the remaining coins. Morgan silver coins are an example of this.
The grade or condition of a silver coin also affects it’s value. Proof sets are special coins that have been struck to a higher quality than uncirculated and therefore have a greater value.
Brilliant uncirculated silver coins are worth more than circulated coins. Circulated coins generally have a very low value unless they are extremely rare and sought after.
The closer the coin is to a perfect uncirculated coin the higher the value. Silver coins should have a certificate from an independent grading service such as PCGS (Professional Coin Grading Service) or NGC (Numismatic Guarantee Corporation). Certified coins protect both buyers and sellers from counterfeit and fake coins.
The quality of a coin is important too. Some coins are considered more beautiful than others and although aesthetic appeal is very much a matter for individual taste, there seems to be a common agreement as to what is beautiful among coin collectors.
Some of the most popular silver coins are the traditional one troy ounce silver dollar, the American Silver eagle or the Canadian Maple Leaf due to the beauty of the coins.
The quality of the coin is very important when determining value. How well it is minted and presented. Also, the date the coin was minted can have a big bearing on value.
Other factors that may have a bearing on a silver coin or silver bars value are:
- Actual silver content in the coin
- Amount of coins struck by the mint
- Aesthetic appeal of the coin, and
- The value of silver as a precious metal
The more one learns about the various types of coins and the four factors of determining the silver coin or bar value, the more satisfaction one will get out of coin collecting.
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