Silver Coin Collecting for Beginners

Silver coin collecting is an interesting hobby, for not only are silver coins valuable, but all kinds can be collected, and from various centuries. Silver coins date back to Roman times. Silver has been chosen throughout the ages for making coins because of its malleability, and availability as a natural precious metal. Silver coin collections are valuable because they are a solid investment, depending on what types of silver coins are collected. Serious coin collectors are called numismatists.

Step 1

Look through piles of coins. Go where people are selling silver coins, and look for lots. These would be bagfuls of silver coins, or coins in general sold for one price. Sometimes there are good silver coins in the mix. American silver dollars are ninety percent silver and ten percent copper. Most types of silver coins found today are the easily accessible American Silver dollar with the mix of alloy metals, which are easily obtainable compared to expensive silver dollars and rarities that are one hundred percent silver. The most collectible and easily obtainable US silver dollars are the Morgan 1878-1921, Peace 1921-1935, and Silver Eagles, beginning in 1986 and still being minted today. Check out The Official Blue Book Handbook of United States Coins, 2010 edition.

Step 2

Buy directly from a mint that issues new silver coins, and start a silver coin collection as an investment. Just because a coin is very old, doesn't make it valuable, especially if there were many made. Silver bullion coins may be worth more in the long run than inexpensive antique silver coins. Limited edition silver bullion can be quite collectible, and will rise in value over time, generally within ten years. Silver coin collecting is great for children for this reason.

Step 3

Go to advertised sales, garage sales, estate sales, thrift stores, flea markets, and coin shows, anywhere one can find old silver coins being sold.

Step 4

Study the mint marks and dates. No one is ever prepared for the day they might come across a rare silver coin. Rare coins would have misplaced marks or mistakes on a coin. For example, a reversed eagle. Purchase a powerful microscope to look at faded old marks.

Step 5

Clean silver coins, but take caution. Patina is part of the value on certain old coins, and any type of causative chemical may strip the top alloy layer off. When in doubt, use old fashioned water on a damp, soft cloth, and gently rub. First try dusting with a soft brush. Store your silver coins in mini plastic baggies; the types used for storing jewelry beads, or encase them under glass in a case with a velvet lining, something generally air tight.

Reference

CanupnetAmerican Numismatic Organization