Coin collecting has continued to gain widespread interest. Whether collecting for the history they hold or in hopes for a return on investment, silver coins are a solid addition to any collection. When purchasing, make sure not only to capitalise on monetary gain but also on storage space.
Ease of Storage
Storing silver coins proves easy, especially since they take up little space. If investing for the silver content they hold, then the condition of the coin is of little value. As such, they may be simply tossed inside a plastic bag, chest of drawers, or safe. On the contrary, if investing for other purposes, such as historical value or collection, keep in mind proper storage techniques, as condition is a major consideration to coin resale value. Coin sleeves, coin folders, and coin albums are all great ways to keep them looking their best. Coin slabs, or sealed hard plastic holders, also keep coins in mint condition but are typically reserved for the storage of extremely valuable coins.
The scrap silver content of coins often outweighs its intrinsic value. This is generally the case with coins that contain high volumes of pure silver, such as the Canadian Silver Maple Leaf and the American Silver Eagle. The former weighs about 28 g is minted from 99.99 per cent pure silver, while the latter is minted from 99.93 per cent pure silver. It is also important to note that older style British silver coins minted before 1947 had a higher silver content than those currently minted; all silver coins issued prior to 1920 are sterling silver, while coins issued between 1920 and 1946 contain 50 per cent silver. Similarly, older style US dimes, quarters, half-dollars, and dollars used to be minted with 90 per cent silver until 1964, while Canadian coins minted from 1920 to 1967 contained 80 per cent silver.
While the silver content of coins has dropped significantly throughout the decades due to the high cost of production, many older varieties are still accepted as legal tender. For example, the crown and sovereign were legal currency until 1971. Although not often found in circulation as of present, these silver coins are still considered legal currency in 2014 at a value of 25 pence and £1 respectively. Even if the price of silver drops, the investment is always worth the coin's intrinsic value as legal tender.