Investing in silver coins can be a good and sensible investment. The price of silver has tripled in just the past 5 years and the demand has typically been higher than the supply. It is entirely possible that silver could eventually reach prices of around $50.00 per ounce.
Use of silver coins has gained the popularity since a quarter of century. The United States government had, at one time, included these coins in daily commerce. These coins were manufactured in small amount and they contained ninety percent of pure silver. But due to scarcity of this metal and high rate the manufacture of such coins was reduced. Before the year 1960 no one knew the actual valuation of silver in the coins, the price of silver was less and the face value of the coin was more. But after that the price of silver started to escalate to a stage where the face value of the coin had become equivalent to the value of silver content used. Previously the price of silver was 37 cents per ounce but it was a critical stage where it reached $1.29 per ounce. The face value and melt value of the coin became the same.
Silver coins were first made by United States Mint in the year 1794. They kept manufacturing the coins in constant manner until it reached the point where it was difficult to include silver metal as it had reached the highest rates. The last silver coin was made in 1964 where it was ninety percent of pure silver and later the manufacturing was discontinued. Only 40 percent silver content coins were made from 1965to 1970 but later it was also stopped. The coins after this year were made of copper-nickel clad.
All the collector coins are made of forty percent silver that were made after 1976 but these were sold in sets and they were not placed for circulation. If you are very serious for investment then you can look for the coins that were manufactured before 1964 and silver eagles are the best choice to invest. These coins value more than any other coin of recent days. These were very pure that had ninety percent silver. These coins are one ounce in weight and bear the value depending on the manufacturing dates.
The coins that bear older manufacturing date can be priced for high rates. If the coin is less rotated and bear no wear and tear then the raring of the coin can be high. These coins can be sold for hundreds of dollars with more demand. You can check the current rates online and must bear the updates for the valuation. The coins that is high in silver content worth higher in rates. If you need to sell your coin online you must maintain the quality of the coin and must know the history behind it.
The coins that had face value of $1 can be sold for $5 or $10. The early coins with more silver content can be sold at the rate of melting refined value of metal. You can invest in these coins before the demand drives out or the rate reaches beyond the capacity of your pocket. Keep the coins in demand and increase its value by keeping them in airtight case to avoid the contact with the air. The coin may turn black due to its purity.
By Adam Brenner
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