Buying Old Silver Coins

Video Transcript

"Buying and collecting silver coins have enjoyed incredible resurgence over the last few years probably due to the high price of silver recently. Hi I'm Rui and today we are going to be talking about buying old silver coins. Silver was the primary element used in producing American coins prior to 1954 but as silver became much more valuable the American mint started using other elements and alloys along with silver finally phasing silver out of coins that are basically put in use in American currency. There is quite a variety of currencies, types of coins, ages, styles, so probably the best thing to do if you are looking to buy any certain coins is decide which year and/or pattern you want to start collecting and from that point you want to make sure that if you are looking for rare coins, rare coins are always much more valuable than the common coins used in change so you can do that. The purity of the silver matters. There is no pure silver coin. The finest silver coin has 0.999 silver content so you want to look for coins of that magnitude. Also you want to make sure that you protect the coins when you buy them and when you collect them because they are pure silver and there are a couple things that you can look at in collecting coins for instance this 1908 Liberty 25 cent piece, you can see it pretty well is worn down. It was used a lot in the American public so you can tell that the worth of it probably wouldn't be as much as if it were in great shape. Now this 1964 Kennedy half dollar is in incredible shape, worth more even though it is quite newer than the Liberty piece it is worth more because of its condition. There is a complete, like I said there is a complete variety of American silver coins and then we can talk about coins from all over the world. Again I'm Rui. Good luck collecting."