If you are looking for a tangible investment that isn’t as expensive as gold, silver may be the solution for you. Silver is considerably less expensive than gold and is fairly easy to purchase. If you’re new to the world of investing in coins and precious metals, you will want to do some research to find out what are the best types of coins to buy, and where you should buy them. Some of the most valuable and ideal silver coins to purchase are listed below.
American Silver Eagle
This coin was first minted in 1986 and is currently minted still today. American Silver Eagles are 99.9% silver. If you purchase this silver coin, make sure that you receive the paperwork and proof of their authenticity from the seller to prove that the coin is real. All original coins came with this information when they were first sold from the treasury.
Canadian Silver Maple Leaf
Similar to the American Silver Eagle, this coin is 99.9% silver. It is fairly easy to purchase an uncirculated coin, but finding proof sets that are more valuable will help to make sure that your silver coins retain their value better.
British Silver Brittannia
This is a very popular coin that is also 99.9% silver. Because the queen is stamped on the coin, this specific coin has always been a big seller. This coin weighs in at one troy ounce and is fairly easy to find.
Determine The Value Of A Coin
Several different things determine the value of a coin. If you are new to the world of coin collecting and investing and are hoping to buy silver coins, you’ll want to brush up your coin examining skills to determine the value of your coin on your own with the following things.
- The condition of the coin. This is especially an issue if the coin is uncirculated.
- The age of the coin and the rarity of the coin. Obviously, coins that are more rare are worth more money, and coins that are older and still in good condition are typically worth more money.
- The demand of the coin. Demand increases value, and the more people there are looking for the coin, the more your coin will be worth.
- The beauty of the coin. This doesn’t always affect the value of the coin, but for those who are looking for a pretty coin to add to their collection, this may be a concern. Coins that are well protected and look good will typically be worth more money to coin collectors.
Set The Groundwork
Before you set out to purchase silver coins, do some shopping around and take some time to educate yourself on the intricacies of the world of coin collecting. While there are many honest coin sellers in the world, there are also those who will sell you a fake coin without batting an eye. It’s your responsibility to make sure you know what you are buying, and to make sure that the coin has the value you expect it to. A good coin buying experience can quickly turn negative if you discover that the coin is a fake. Save yourself time and avoid stress by making sure you know how to spot a fake before you start purchasing silver coins.
Sarah Trell is a marketing specialist for a rare coin and precious metals firm. She keeps her readers informed on all things business and finance.