Understanding The Value Of Silver Coins

Novice and expert collectors alike are interested in silver coins around the world. Silver coins can be found for sale in collector shops like Beaverton Coin & Currency, garage sales, as well as on many online sites. Many wonder how a coin gets its value. Why is one coin worth $18 while another coin is worth several thousand? Surprisingly, there are several factors involved in determining the value of silver coins.

How Rare Is It?

A rare silver coin for sale will retail for much more than a very common coin. Interestingly, the age of the silver coin has very little to do with the value associated with it. Most assume that if a coin is very old, it should be worth more money. However, there are other more important factors at play. 

Consider the Condition

The condition and grade of the silver coin is very important. The grade refers to the amount of wear and tear that has occurred since the coin's striking. There are several things that can impact a coin's grade. These can include scratches, corrosion, and gouges in the metal. Inexperienced coin collectors may attempt to incorrectly clean the coin, which can result in discoloration. 

The eye appeal is also an important factor in the silver coin's value. Is it aesthetically pleasing? If the coin has crisp and distinct lines and details, it is often considered more valuable. A unique, artistic design will make the coin stand out among other coins that are more dull in design. 

What is the Metallic Content? 

Coins can be a compilation of a couple different types of metal. Coins that are richer in the most valuable metals, such as silver and gold, are going to be more desirable. The value of silver, and other precious metals, change over time depending on the current market value. Interestingly, coins that were created to be used in circulation as tender have, historically, been made with different compilations of metals, as opposed to those coins that were created for collectible purposes only. The coins that were intended for circulation are often less valuable than those that were created for collectible purposes, according to Science Made Simple.

Demand

And finally, without a collector wanting a silver coin, the demand goes down. If demand goes down, so does the value of the silver coin for sale. The coin is ultimately worth what someone is willing to pay for it. Collectors will drive up the value of a rare silver coin simply because so many people find it desirable.