Coin dealers typically offer retail prices slightly below the spot price of precious metals, but this can change dependent on market situations. Keep in mind that this won’t necessarily be reflective of what offers you’ll receive when trying to sell your coinage. Just multiply the ASW by the live spot price and you’ll have the bullion coin’s melt value. When you know the current spot price of silver and a coin’s ASW, the calculation is simple. For example, an uncirculated Morgan dollar which weighs around 26.73 grams and has a fineness of. Finally, divide that total by 31.1034768 – the number of grams in a troy oz. Then, you take the weight of the coin and multiply it by the coin’s silver purity. You can use a gram scale to get an accurate weight for your silver coins or use a reputable resource to get an accurate idea. This is defined as the raw weight of a coin multiplied by its silver purity. Actual Silver Weight (ASW) is a key metric to understand when determining the real value of silver coins. The heavier a coin and the more silver it contains, the higher its value. The value of a silver bullion coin is largely determined by its weight and purity. It’s the same when you’re purchasing silver because of the premiums dealers charge to cover overhead costs. You can expect to receive an offer slightly below the spot price of silver when selling your coinage. Checking the current spot price of silver will help give you a close idea of how much your silver coins are worth right now. The price of silver is in constant fluctuation as with any other asset. With fewer factors affecting the value of bullion, the calculations are much more straightforward. You’ll have an easier time judging the value of your silver bullion coins than numismatic coinage. Determining the Value of Bullion Silver Coins The range of offers you receive will give you an accurate idea of the value of your silver coins. You can start locally before expanding your search online to professionals across the country. As a result, the more precise way of evaluating the value of your coins is to shop around for different offers from precious metals experts, professional coin dealers, and other specialists. No matter what books or websites might say, a silver coin is only worth what someone is willing to pay for it. Get Your Free Report Speak with an expert Unlock Silver Investor Trade Secrets in our Investor Report. Just make sure you’re using an up-to-date source for the most accurate assessments. For foreign coins, there are comparable books and websites providing the estimated value of silver coinage. There are some excellent resources you can consult such as The Official Blue Book Handbook of United States Coins which lists the wholesale prices of nearly all major US-minted coins. That’s why low-mintage years often confer more value.įortunately, you don’t need to have an encyclopedic knowledge of collectible coins to get a rough idea of the value of your silver coins. Scarcity – The fewer copies in circulation, the more sought-after the coin.Demand – If there’s a high demand in the numismatic coin market, the value of the coin will be higher.Condition – Coins in better condition can yield higher prices, although the age of the coin is taken into consideration too.In general, there are three factors that influence the value of silver collectible coins: Determining the Value of Numismatic Silver Coinsįiguring out the value of numismatic silver coins requires more research and expertise than their bullion counterparts simply due to the number of components influencing their worth. Separating these two different types of silver coins can make it easier to accurately determine their value. While silver bullion coins are typically only worth their weight in silver, numismatic coinage contains external value due to rarity or exclusivity. Separate the Numismatic and Bullion CoinsĪll precious metals investors need to understand the difference between bullion and numismatic coins. Before deciding what to do with your coin collection, take the time to determine its true value. Understanding the value of silver coins is the first step to making smart financial decisions in terms of investing, buying, or selling. Whether you’ve accumulated silver coins over the years or recently inherited a coin collection, you’re probably wondering how much the coinage is worth.
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