There are several reasons why people choose to buy silver coins, many purchase silver coins for investment purposes, others buy silver as a hobby, and some purchase silver coins in order to construct a collection that they can pass down to future generations. Before making a silver purchase it is wise to know the value of the coin first. Silver coin content: The value of silver coins minted prior to 1964 that contain 90% silver will vary depending upon the activity that is going on in the silver bullion market. Rare silver coins on the other hand receive very little of their value from their metal content. Find out how many copies there are of that particular coin: Locate the mint mark on the coin, the mint mark on coins minted prior to 1968 can usually be found on the reverse side of the coin while the mint marks of coins minted after 1968 can usually be found on the obverse side of the coin. mint marks indicate where the coin was minted.
Another thing you will want to pay attention to is the year the coin was minted, which can be found on the obverse side of the coin. By knowing the date the coin was minted and where it was minted you can find out how many copies of the coin were minted. A coin price guide and coin encyclopedia can provide you with this information. Coins that have fewer copies tend to be the coins that are more valuable. Consider the coins condition: Does the coin have luster, luster is when light reflects off of the silver ira coins surface. A coins luster diminishes as a coin goes through wear and tear.
Consider the color of the coin, does it have a natural hue of silver, is the color vibrant? The color of a coin can be altered by being chemically cleaned or by being handled. See if the coin has any detracting marks that have come from improper handling or packaging and consider the coins overall eye appeal because the less attractive the coin is and the more detracting marks the coins has the less valuable the coin is likely to be. Consider the rarity and demand of the coin. Coins that are rare and are in high demand tend to be more valuable. Coins can also have an increased value if they carry historical significance.