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Buying and Selling Used US Silver Coins

By Edited Nov 13, 2013 0 1

Tools of commerce from days gone by, used to be that of the US silver coin, but obviously now no longer considered regular everyday money.

However, they are now bought and sold within the silver trade and used as a scorecard of sorts that follows the daily spot price of silver.

Numismatic collectors have long sought out these precious metal discs to add to their collections. A global collector base supports a strong market and the supply and demand principles have pushed certain coins to unimaginable price levels

Now due to the rapid increases in the value precious metals, it has attracted many new investors into the mix. Silver US coins are usually traded in one hundred and one thousand dollar bags and are priced according to their weight, and in line with the spot price for silver.

Dealers across the country will offer a 'buy price' and a 'sell price' for these bags of obsolete silver coins and large amounts of precious metal containing silver coins, that are traded each day. This is accomplished with the aid of the Internet and electronic transactions that see millions and millions of ounces of silver coins trade hands.

Buying silver circulated coins can be done through various methods, it can be done via online sites such as eBay, which will provide you with the auction action that goes along with that.

There are also Online brokers that will sell you bags of used silver US coins, they can be easily found with a simple search term on a search engine, such as 'Buy Bags of Silver Coins'.

Another great source for bags of used silver coins can be your local numismatic coin dealer.  Even some jewellers will deal in buying and selling silver coins.


What's in a Bag of Used Silver US Coins?

US silver coin bags will usually consist of silver Washington quarters and Kennedy half dollars. Also silver Roosevelt dimes from the 50's and 60's will make up some of the bags.

These coins are added up by their face value. Bags are listed on the major markets and investors can track their holdings at any given time, simply by checking the tickers for the spot silver prices. 

Silver has a great potential for upwards price moves and when thinking about gold verses silver as an investment tool, there is much more room on the upside for silver.

Commodities have always been a popular place for people to put money in hard economic times. Silver and gold are a historically safe place to run to, when the markets get volatile. 

A hedge against inflation at times and a bull move to make fast money at other times. Used US silver coins, have and are likely to remain a strong asset in many savvy investment portfolios.

If you are interested in buying or selling used US silver coins, be sure you conduct an appropriate amount of research before hand, so you realise exactly what you are doing and the consequences and risk you could potentially be exposed to. 

So to get started on your research I would recommend books such as 'A Guide Book to United States Coins' and try to participate with Online forums that specialise in Silver coins also.


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Comments

Oct 22, 2011 7:03am
KrisSigeti
I just found found 4 1964 half dollars in two boxes of halves I picked up from the bank! While not the best score, it beats my last four boxes of halves.
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