How to Purchase Silver Dollar Coins
Silver and gold make good investments because they always hold some value. Typically, as the U.S. dollar becomes weaker, the value of precious metals goes up, making silver a good hedge investment. But silver also can be a good investment at any time and in any economy because it has various industrial applications. As demand increases, so does the value. Silver coins, in particular, present an easy way to invest in silver. They are also popular collector's items.
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Instructions
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Silver Coins
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Check your local newspaper's stock pages to determine the current price of silver per ounce.
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Learn the silver content of different coin types. For example, coins minted before 1964 typically contain 90 percent silver. A dime contains 7.2 percent of a troy ounce. A quarter contains 18 percent of a troy ounce. A 50-cent piece contains 36 percent of a troy ounce. A dollar's worth of mixed coins contains about 72 percent of a troy ounce. Silver dollars contain 77 percent of a troy ounce. Based on the current price per ounce of silver, you can determine a fair price for the silver coins. For example, if silver is $3.00 per ounce, a pre-1964 50-cent piece is worth 36 percent of that, or $1.08 (3 times .36).
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Find a local silver coin broker. These buyers and sellers are listed in directories under "Antiques and Collectibles" or "Coins." Call before traveling to their location to ensure that they have silver coins available for purchase.
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Check the U.S. Mint's silver coin releases. The U.S. Mint releases American Eagle Bullion coins in silver, gold and platinum. These are another good way to purchase silver coins and they are beautiful collector's pieces.
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Tips & Warnings
Sometimes silver coins are in short supply. Continue to call and check on availability with local dealers. If you find someone who has silver coins available when they haven't been for several days, it's a good idea to make time to purchase them that day.
The silver content in coins has differed in various time periods, so thoroughly research the silver content based on the year of minting for the coins in which you are interested.
