Buy Silver Coins
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Whether a person wants to buy silver coins as a collector, or his purpose is investing in silver coins, the supply seems to be very plentiful, if the number of dealers on the Internet is any indication. The variety of these coins is astounding. They can be purchased by the mint they came from, the years they were minted, or by certain classifications, such as the Peace Silver Dollars, or the Eisenhower Silver Dollars. Collectors often look for specimens of a certain time period to complete their goal of having one for every year from a certain date in the past to present. Coins have changed over time, so getting a sample of every coin design can be a challenge, especially when the design was used for a limited time, or a specific number were struck. Going after rare specimens can cost a collector substantial sums of money.
Investing in silver coins can be profitable, but like most investments, time is a person's best ally. Another reason for investing in silver coins is survival in the event of the devaluation of the paper dollar. Some people with that specific purpose in mind buy specific pieces by the bag full. Bags of pre-1965, 90% silver coins contain approximately 715 ounces of silver. If the precious metal goes up ten cents, a bag of 90% rises $70.00 or so. The condition of the pieces is important to their value, and collectors generally look for at least a very good ranking.
Someone can buy silver coins from many different eras or designs. Some of the more interesting pieces available are the "Big Easy" dollars minted in New Orleans, and the "Outlaw" collection that were minted between 1879 and 1882. One can also get the Eisenhower and Kennedy pieces that were minted for a limited time. A lot of history can be learned through dealing with this kind of money, because certain designs represent specific times in the history of the nation. This metal money isn't limited to the U.S., of course, and the serious collector may gather examples from other countries as well.
The presentation of these collector's items can take a number of different forms. One can buy silver coins where each is mounted in a watch case, sometimes they are mounted in a specially designed box, and sometimes each coin in a collection is encased in plastic for easy viewing and protection. An interesting fact about investing in silver coins is that a bag of these pieces has three values. One is an assessment of the content (i.e., silver), another is the age of the piece, and third, its face value. No matter how the other values vary, the piece can always be spent for the value stated. Money is very important to us, whether metal or paper, for just about everything in our lives. It's hard to imagine being told, as the apostles were by Jesus, to take none with you. "And commanded them that they should take nothing for their journey, save a staff only; no scrip, no bread, no money in their purse;" (Mark 6:8)
The worry about computers failing on January 1, 2000, caused a run on 90% pieces to be used as currency when the banks failed, which raised the value considerably. After that predicted event didn't occur, those purchasers began unloading the hoards they had acquired, which made the prices plummet. People buying at that time got a bargain. Large quantities of bags were refined into .999 fine bullion, so now bags of pre-1965 U.S. coins are scarce. Before Y2K, a person could buy silver coins in lots of 100 bags with a phone call to one of the numerous wholesalers. By the first half of 2002, an order for 20 bags could require two or three phone calls. Luckily, there isn't likely to be another Y2K event.
One of the more recent spurs to collection was the minting of the states' quarters, which began in the year 2000. The symbols of all the states have been imprinted on the money, and distributed both as money for spending, and as collectors' items. Some private distribution companies are selling them in individual boxes, while others are mounted on pages of a three-ring binder with a history of the state included. These pages include the state flower, major industries, and historical events in their texts. States' quarters have made collectors of people who otherwise never would have been. The lure of acquiring uncirculated pieces that are unique and limited is strong, and the fact that these reflect our country's history in this way adds to the attraction. Investing in silver coins has reached a whole new audience.
Anyone who wants to buy silver coins can do so without much difficulty. Most cities have sellers who are willing to part with their merchandise for a price, and if it is a particular coin or series of them a person is looking for, dealers will search the market to find them. Quite often, parents or grandparents will make gifts to children of the ones bearing the year of the child's birth. This makes a wonderful keepsake that will never be spent or given away.
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