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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With silver coins scarce nowadays in your pocket change, the traditional ways of beginning a collection are now lost. In the old days, kids interested in coin collecting could simply go to grandma and ask for a few coins, usually of one denomination or another. Today, kids who want to start collecting coins of a certain vintage, minted before the government removed the true silver coins from daily circulation, may have to find a piggy bank that an old relative hid in the attic. Of course, you should always have permission to take silver coins.  

They have value far beyond the coins you dump into the vending machine.  For those adults who are more solvent, there are several places to located silver based coinage, but these grab bags of coins are likely to be more expensive and also likely to have no rare dates.  Those are likely culled from any seller’s offerings.  The obvious place to look is on an on-line site.  Several well-known ones may be safe, but you never can be sure what you will receive in the mail from an online purchase.  Make sure they have a solid return policy in place. 

Let’s face it: you will want to look at the silver coins before you fork over your paper cash to purchase coins.  It is highly likely you will be able to determine if the coin meets your needs.  If you are a total newbie to the concept of coin collecting, you will want to check for a reputable dealer who is offering assorted silver-based coins for sale.  You may find specific dates, whether dimes, quarters, halves, or dollars, but these will surely cost a premium, even if the date and mint markings are not rare or collectible.  And, if you do find some silver coins, please do not use them to buy a snack in the vending machine.  So, don’t carry your genuine silver coins in your pocket–ever. 

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