If you think about the jar of change sitting on your dresser or jangling in the glove compartment of your car, you may think it isn’t worth very much. These days, loose change doesn’t typically get you very far.
However, throughout United States history, several coins containing genuine silver have been minted. Some have been manufactured as collectibles while others are pure silver bullion, and no matter how much silver a coin contains, it’s still valuable as legal tender. So, the coins on your dresser or in your glove box could potentially contain raw silver that has even more value, and if you have inherited a coin collection from a relative or an estate sale, the chances are even higher.
If you suspect you may be sitting on valuable coins, it’s worthwhile to learn more about which U.S. coins contain silver and as well as the advantages of buying and selling U.S. silver coins.
The History of U.S. Silver Coins
The first thing beginners to coin collecting should understand is that some coins are worth more for their rarity, historic value, or collectible value than they are for the silver contained within them. Alternatively, the overwhelming majority of silver coins are not worth more than the value of their silver. That’s not to say that silver doesn’t have value, but it’s important to understand the valuation of some coins versus others.
The United States Mint began making coins in 1792, and since then there have been countless changes to the design, denominations, and variations of silver coins in the U.S. The first silver coin produced in the United States was the Flowing Hair silver dollar, which made its debut in 1794. Until 1964, all silver half dollars, quarters, and dimes were made from 90% silver, but as the price of silver increased, the compositions changed and by 1965 many coins were made from only 40% silver. By 1977, coins the United States Mint stopped making silver coins altogether, only to reintroduce them again in 1986 in the form of the American Silver Eagle, which was made from almost entirely pure silver. Today, the American Silver Eagle is still in production and has retained its value.
The Benefits of Buying U.S. Silver Coins
Oftentimes the main focus falls on gold when we talk about investing in precious metals, however, silver is also quite valuable and silver coins in particular are an excellent investment. In some cases, the coins are valuable for their raw materials, but in other cases, they are worth even more as collectibles.
Unlike jewelry or other forms of precious metal, silver coins are legally tender. No matter what happens to the price of silver, the coin itself would, at a bare minimum, be worth its face value. Furthermore, the fact that silver coins are both legal tender and material investments means that they hold value in multiple markets. Regardless of the economy’s fluctuations or trends, silver can be sold or used as legal tender. Additionally, coins hold their material value, so even if U.S. currency loses all of its value, you can still fall back on the value of the silver material.
If you’re just getting started, consider investing in the American Silver Eagle. The U.S. Mint has high standards for their weight and purity and since they are still being made today, they are plentiful and easy to find.
Gold Rush Denver Is Ready to Buy Your Silver Coins
By now, you may be thinking about your loose change or the coin collection you inherited a little bit differently. If you find yourself in possession of silver coins that you are interested in selling for cash, bring them to Gold Rush Denver. We’ll offer you the absolute highest payout for your silver coins, and our specialists will assess the value of your coins at no cost to you.
Our team is experienced and highly skilled, which is why Gold Rush has become Colorado’s most trusted source for selling gold, silver, diamonds, and other precious metals for the last twelve years. Visit one of our seven locations for your free evaluation and get the best possible payout for your silver coins.
