Buying Silver Coins

Video Transcript

"Buying and collecting silver coins have enjoyed a serious resurgence over the last few years probably due to the increase to the value of silver in the market. Hi I'm Rui and we are going to be talking about buying silver coins. There is almost an infinite choice of silver coins when it comes to collecting. If you are focusing on American coins obviously it makes it a lot easier if you live in the United States but there are incredible coins you can buy especially from various European countries. In American coinage silver was probably the most popular element used in producing coins until 1964 when the price of silver started skyrocketing it became too valuable to use in a common coin that was passed around ad currency in the United States so after 1964 the US government started mixing silver with other elements eventually phasing silver out of its coins. There are five things you should probably look at when you are looking to start buying and collecting silver coins. The first is decide the type of coin that you want to collect because there is such a huge type of coins that you want to collect you want to focus on one to begin with. The second is if you want to collect a rare silver coin it is obviously more expensive but it becomes more valuable than a common coin that was used in currency. The purity of silver counts, there are no pure silver coins. Probably the purest you will find is 0.99 % silver which is the closest you can get to a full ounce of silver in a coin. The grade of the coin matters. If it is worn down it is not worth as much as a proof or a mint type coin and the value of silver on the market it matters a lot as it fluctuates. If you want to have a look at these two coins here, these are two good examples of silver coins that you collect. You can collect the first is a 1927, 25 cent piece and it is kind of wore down on both the front and the back sides dropping the value of the coin dramatically. The second piece is a 1964 Kennedy half dollar which is in incredible condition. It is still made of silver and it is more valuable actually than the 1927 piece because of its condition. Your best bet is always to buy and collect high quality high content silver coins. Make sure that you make these purchases through a reputable dealer like an antique store or a coin shop and make sure that they have a return policy in case what they are selling you isn't exactly what you think it was. Again I am Rui and good luck collecting."