Are You Looking to Buy a Bag of Silver Coins?
Here's What You Should Know
A popular way of buying silver is in the form of the "Bag of Silver Coins."
US coins had silver in them prior to 1964 and these coins have suddenly rocketed in demand for their silver content.
These silver coins were once called ‘junk silver’ but are no longer considered ‘junk.’ The silver content in each coin is around 40-90 percent - making a bag of silver coins worth considering!
As an example, $1.00 face value silver dimes weigh the same as $1.00 in silver quarters, and has the same silver content. The dime also weighs the same as $1.00 in silver half dollars. For example, 10 dimes, 4 quarters, or 2 halves all have the same weight and are 90% pure silver composition. A typical dollar face value in US silver coins will contain about 71% of a troy ounce of pure refined silver.
At a time when paper money is worth less and less, these coins are retaining their value and, with the increase in value of silver, increasing in value almost daily.
Remember, these coins are legal tender and still have purchasing power!
Bags of silver coins, or so-called junk silver, are also a good way of investing and diversifying into silver. If the value of silver did drop, then the proportionate loss of value of the bag of silver would be less.
Many dealers sell bags of silver coins up to a face value of $1,000 per bag. However, one can get smaller bags from various established and reputable dealers provided one does some due diligence. GMRgold.com is one of these companies.
It is quite possible to get face value bags down to $200, $100 and even $50 dollars face value. A fifty dollar face value bag would cost you around $400 dollars and would have a mixed collection of pre-1964 silver coins with a silver content of around 90 percent.
For a collector that ‘knows his coins’, there might even be a valuable silver Morgan in the bag. Which makes purchasing these bags all the more fun - you never know what you’re going to get!
Collecting bags of silver coins can also be a rewarding and fun activity, and who knows, you might find that elusive coin worth thousands!
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