Lets face the reality of the situation, our economy is in deep water. The dollar is pretty much worthless. What do we do, is there any way we can survive let alone prosper, in this growing economic crises? There sure is and I am going to show you how. The goal of this article is to show you how to buy silver coins.
The first thing a person needs to realise is; silver is a precious metal. Historically, the basis and strength of our economy has relied upon precious metals. It was not until the 1970s when, Richard M. Nixon took us off the gold standard. From that day forward our economy would never be the same.
Investing in silver coins allows a person to build an economy of their own so to speak. Precious metals are the only wise choice as an investment. One of the best ways to invest in silver is through the buying of silver coins. Its very exciting if you think about it. What a person needs to decide is what type of silver coins are they going to buy.
Are you going to invest in the historical coins, like the ones your father and you collected? This is fine if you are doing this type of coin collecting. But as an investment this would not be the wisest choice. Old coins do have a precious metal content but they also have a numismatic value as well,all coins do. But with old coins, numismatic value is the deciding factor. Here is an example. Lets say you have a 1916 Barber quarter, that is worth say; $150.00 because they did not mint that many. Now what would happen if they discovered more was minted than what they thought? Well the value of the coin would come down. You would still have a great coin for your collection.
But as an investment, numismatic value does not cut it. As far as the precious metal content of that quarter? The Barber quarter is 90% silver and 10% copper and it weighs 6.25 grams. If a person wanted to collect historic coins as an
investment, proof sets would be the way to go. Proof sets are put out by the U.S. mint. Proof sets are for each year the coin is minted as well as each denomination. They are uncirculated never been handled by human hands. Once again it is the numismatic value that decides the historical coins worth so keep that in mind.
The only historical coins that I would consider as a sound investment would be the Morgan Dollars. Minted from; 1878 through 1904 when production ended because of a silver shortage. Very few have survived as a result of the; Pittman act of 1918, when nearly 270 million Morgan Dollars were melted down into silver bars for export. The Morgan Dollar was also minted in 1921 but that was the last year.
Very true the Morgan Dollars are historical and I did say the historical coins were not generally the best investment. The Morgan Dollars had a very high silver content as well as a high purity of silver, they do make a great investment.
The Morgan Dollar, 1878 through 1904 and 1921
Gross weight: 26.73 grams
Silver content: 0.77344 oz.
Composition: 90% silver, 10% copper
Silver purity: .900 fine
As you can see, even though the Morgan Dollar is an historical coin, the silver content and purity of the silver causes this coin to be a great investment.
The U.S. mint also puts out commemorative coins made of silver. These coin sets usually are minted with the investor in mind. The silver content and purity is usually very high. And by contacting the U.S. mint or going on line there are many sources to purchase these sets. Also; it would be wise to get the; price guide of U.S. coins, also known as the Red book of U.S. coins and their prices.
Gold coins are also a great buy. If silver isn’t your thing, research different ways to invest in gold and buy gold coins.
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