Silver Coin Buying

Freshly minted coins have a luster that makes them look beautiful, but freshly minted coins are not of much use to a collector, as the value of a coin increases with age. If you find a coin which is a few years or decades old, it would most certainly have lost its luster, but collectors value it much more than a freshly minted coin, although it does not look half as beautiful. The value of a coin is not in its luster and shine but in its vintage.  

If a vintage coin gives a lustrous look, in all probability it has been cleaned. Cleaning a coin is the surest way to kill its value to a numismatist. When a coin is minted, because of the pressure applied, on the planchet some molecular changes take place resulting in a flow of the metal which gives rise to a pattern on the surface of the coin called cartwheels. These are extremely delicate line patterns which are formed and are clearly visible under a microscope. Some of these cartwheel patterns get damaged due to natural use of the coin, however they are not totally destroyed.  

If a coin has been cleaned, it is a sure shot way to destroy the entire pattern and thus the value of the coin. Numismatists do not mind if the coin is covered in dirt and grime and has stains and does not have the looks of a new coin, as long as the cartwheel patterns are present. The older the coin, the more valuable it is but if it has been cleaned, then it will at best fetch the intrinsic value of the coin and will not classify as a collector’s object. 

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Collecting coins is a great hobby and many people are engaged in it.  A few people are very interested in collecting rare coins.  Many people are engaged in collecting gold and silver coins.  They tend to resell it when the market rises or after a few years go by.  Silver coins are often found mixed with copper and nickel.  So those who are often engaged in silver coin collection need to look into the purity of the coin first before buying or resale.  The common question is how to tell if the coin is of pure silver?  There is also a question as how to find out the coin is silver?  The best thing to do is to make sure the coin has a certification.

There are a few test people like to do “ring test”, “Tissue paper test” and “specific gravity test” to find out whether its a silver coin or not. Many use the date and denomination mentioned in the coin to determine if its silver.  The coins like dimes, quarters, halves and dollars minted before 1965 are found to contain 90% silver.  Half dollars have found to contain 40% silver.   The coins dimes, quarters and dollars minted after 1965 have no silver in them.  They have only copper and nickel in them.  Cents have never been made in silver.  All cents are made using copper and steel.  Foreign coins are very difficult to deal with.  We can use the date and denomination as a clue in the deal.  

One Test Method:  Carefully balance the coin flat on the tip of one finger, then use something like a pen to gently strike the edge of the coin. We will hear a melodious ringing sound which should gradually fade away. If the material is copper etc we will get a higher pitched ‘tinny’ sound which doesn’t last as long. Obviously it helps to have something to compare the sounds with. I tried this method with two coins. One was a 1964 with 90% silver content, and the other was a 1980 with 0% silver content. Both coins looks the same (except for the metal color) but there was a very noticeable difference in the ringing sound produced. The method isn’t foolproof, but it doesn’t cost anything and is easy to do. 

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Hobbies are something which makes us forget about time and other problems for the moment.  Writing, Singing, Dancing are common hobbies and only a few convert those hobbies into a career.  Like wise coin collection is a great hobby.  We go in search of coins and we research about coins.  We create a showcase for all the coins we collected. There are many steps you have to take to preserve the coins you collected.  The coins must be kept in a protected wrappers or something like that.  

Protecting your coins is as important as collecting them.  There are many albums and flips available to store your coins.  There are many people who have turned their coin collecting hobby into an career just like a writer or singer. Internet has helped to helped to enhance their career.  Many coin collectors share their knowledge in their websites so that new enthusiasts learn much more about it.  Many resell the rare coins they collected for a higher price in sites like eBay and others.  Thus they turn their coin collection into a ebusiness. 

No matter where you purchase your coins from, make sure that you select coins that will hold your interest.  Don’t just loose yourself in the investment, but have fun while doing it.  These are going to be coins that you may pass down through your family tree if some have not been passed on to you already.  Lastly, you’ll want to set aside an area in your house to keep all your coins.  Make sure that you read up on how to store them and clean them.  Remember, it’s not always the bright and shiny new penny that you want.  So take extra care before you clean any coins because you may decrease their value. Enjoy!

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