As of Sept. 18, 2014, the price per ounce for silver is $18.65, making the 0.999 silver coin worth the same amount. However, the coin's worth depends on the current market value of silver, which fluctuates rapidly and is updated by the minute. The coin value is also dependent upon the condition, rarity and face value, which is the monetary value stamped onto the coin, such as one dollar.Continue Reading
If there is no face value stamped on the coin, then it is considered a round or medallion rather than a coin. Most 0.999 fine silver coins are actually rounds.
An ounce in terms of silver trading refers to a troy ounce, which is 31.1 grams or 1.10 of a regular ounce. The term 0.999 silver means that the item is 99.9 percent pure silver. The value of the actual silver contained in a coin is known as its melt value. Silver is no longer used to make coins in the United States, and the melt value of old silver coins is often much higher than the face value of the coin.
However, a silver coin that has a lower silver content may actually be more valuable because of its collector value, which depends on the date it was minted, its mint mark and whether it was circulated.Learn more about Currency & Conversions
The price of silver in U.S. dollars, as of October 2015, is approximately $15.80 per ounce, according to SilverPrice.org. Silver is an extremely volatile commodities asset that is traded at a high volume in stock markets, so its price tends to change frequently throughout each day.Full Answer >
A few tips for buying silver coins are that the buyer should know the dealer, the buyer should not purchase exotic coins and the buyer should avoid buying premium, which is the cost per troy ounce charged by a dealer over the spot price of the metal used in the coin; these tips come from a list called the "Ten Commandments for Buying Silver and Gold," written by The Moneychanger. This advice applies to buyers in search of gold coins as well.Full Answer >
According to Antique Cupboard, the five primary buyers for silver are coin shops and jewelers, smelters, road show dealers, cash-for-gold operations, and silver matching services. Each method brings a different return, so choosing one depends on factors such as speed of sale and the rarity of the piece being sold.Full Answer >
The $20 gold piece was a coin minted in the United States from 1849 to 1933 that contains slightly less than one ounce of gold. Two versions of the $20 gold piece, which is also sometimes called the Double Eagle, were minted during its 84-year production run.Full Answer >