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Silver coins are the very embodiment of honest money. When the US Mint switched from 90% silver to copper clad coinage in 1965, existing silver coins began vanishing from circulation immediately. People saved the coins with intrinsic value and spent the nickel plated replicas issued in their place. They trusted the silver coins would retain value.
The trust, of course, was well placed. In 1965 a motorist could use either three 90% silver dimes or three of the newly minted clad dimes to buy a gallon of gas. Today the silver value in the pre-1965 dimes is enough to buy a gallon of gas with some change left over. The three clad dimes won’t even come close.
Honest money never goes out of style. Silver US coins are among the most popular products Money Metals Exchange carries. And demand is growing. The US Mint currently produces more than 40 million silver American Eagles, a $1 dollar coin containing one troy ounce of .999 pure silver, per year. Since the 2008 financial crisis awoke the world to the risks inherent in paper assets, a new production record has been set nearly every year.
Investors have two choices when buying bullion US silver coins:
Eagles carry the beautiful “Walking Liberty” obverse and they have been in continuous production by the US Mint since 1986. They are the most popular silver bullion coin in the world. You can buy silver eagles here.
Pre-1965 silver coins (aka “Junk” silver - an unfortunate moniker assigned because the coins have no collectible value) are sold in two price categories. Dimes and quarters offer a bit lower premium - primarily because more of them were minted. Half dollars command slightly higher prices. All three denominations contain .715 ounces of pure silver in any one dollar of face value. In other words, any two half dollar coins, any four quarters or any ten dimes contain .715 ounces of silver. This includes some allowance for wear as many of these coins circulated for decades.
Learn more about the Walking Liberty Silver coin.
There’s a huge range of silver coins available to buy. Whether you’re on the lookout for old or new, circulated or uncirculated, it’s never been easier to invest in silver at the click of a button.
However, wisely investing in silver coins requires a degree of forethought and planning, if you’re going to see the best possible return for your money.
Silver coins are traditionally seen as more attainable way of hedging against inflation and economic turmoil. Just like gold, silver has always had an intrinsic value and has been used as money for millennia. As a result, due to silver being a precious metal, silver coins will always hold value, even if it’s just the value of the silver itself.
Like gold, silver values fluctuate on global and domestic markets as measured against volatile fiat currencies. That’s why many investors buy with the intention of simply making a profit during favorable markets. Silver has enjoyed strong and growing demand not only as a result of its remonetization as a financial asset, but also because of it’s growing industrial applications in medicine, electronics, solar, and many other areas.
Meanwhile, unlike gold, silver coins have not been banned or expropriated by governments.
Coins and bars have their own advantages and disadvantages. Deciding which is the best investment comes down to your personal motivation for buying in the first place, the amount you’re looking to buy, and the resale value you want.
Many are willing to pay the generally higher premiums on silver coins over bullion bars or rounds because:
Coins have legal tender status, meaning they are generally more recognizable. And to the extent people actually trust the government, the weight and purity of coins are technically government guaranteed.
Coins are typically more collectible than non-coin alternatives, meaning at some point they can attain a higher premium over their melt value in the market.
At times, “Junk coins” can be actually purchased at or near the silver spot price. However, most other coins will cost more than other forms of silver.
Learn more about Junk Silver here.
Although purchasing larger amounts of silver generally means you will pay less of a mark-up to the dealer, it’s important to purchase within your budget. A lot of “silver stackers” start with small investments and build up steadily over time.
Many folks get on a monthly savings plan like that offered by Money Metals Exchange. This provides for dollar cost averaging and easy and automatic accumulation.
Silver coins are a great commodity to buy in smaller volumes on a regular basis as, broadly speaking, the value of silver is rising and retains its value well. Therefore, even over longer time periods, fluctuations in the cost and value of silver coins will balance out.
After obtaining a core holding, you may wish to expand into niche coins such as low-premium Morgan and Peace Dollar culls, 2 oz Queens Beast coins, and many other options.
Junk coins is a bit of a misnomer, as far from being “junk.” or worthless, a junk coin is simply a coin that has no numismatic or collector value but is instead valued based on its actual silver content. There is 0.715 troy ounces of silver contained in each $1 of face value of these pre-1965 U.S. dimes, quarters, and silver half dollars which are 90% silver by weight.
Because these coins have no collector value and are not often sought after by numismatists, they are an good choice for buyers simply looking for a cost-efficient investment, as you are often able to obtain the coins for only a small premium above their silver melt value.
You can order US silver coins quickly and conveniently right here at MoneyMetals.com. Or give one of our friendly and knowledgeable Specialists a call. They can answer your questions and take your order in just a few minutes by phone; 1-800-800-1865.