With the price of silver rising, silver dollar values are also rising. Silver is trading at over $28 an ounce currently and has been above $20 for several weeks. Together with the continued decline in the dollar, the increasing value of silver is making silver investing a popular choice. Collectible coins are especially popular investments for the collector. Have you checked your silver coin collection lately to see what is there of real value?
When going through your collection, there are things that you should check to determine the value: date, mintmark, grade, and condition. Below are a few valuable silver dollars.
Draped Bust Dollars
These early silver dollars struck from 1795 – 1804 are beautiful pieces. They are worth several hundred dollars and for certain dates and grades, are worth several thousand dollars. A 1796 coin with a grade of MS-60 or higher may be valued in the tens of thousands.
Seated Liberty Dollars
This is the classic silver dollar but is very rare and hard to come by. It was minted from 1836 – 1873 and had three different reverse images during this time. Due to the low mintages and the incidents of melting silver coins, these are all usually desirable. The value depends on the grade of the coin and the year.
Morgan Silver Dollars
These are now highly sought after coins and easily worth more than their silver content which is 90 percent. Minted from 1878-1904 and again in 1921, these coins were disliked at the time of circulation. Rare dates and mintmarks bring higher prices. The Carson City coins are all considered rare and bring high prices.
Peace dollars, minted from 1921-1935 and in 1964, are also composed of 90 percent silver. There are some rare dates and varieties. These are not necessarily as popular as the Morgan silver dollar, and the irony is the opposite was true at the time of their circulation. However, these coins are still excellent investments.
All silver dollars are worth at least their melt value in silver, which is one of the reasons silver coins have been melted in large quantities over the years. Coins should be carefully examined, but not handled too often or cleaned in any way unless you are a professional. Any kind of cleaning will usually lower the grade of the silver dollar and, consequently, the value. A coin dealer can help you determine the true value of your silver dollar.
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