Q:

How do you determine the value of silver coins?

A:

Quick Answer

To determine the value of silver coins, consider the coin's grade, the supply of the coin in that specific grade, the surviving population of that particular coin and the demand for that coin. The price may also be influenced by the spot price of silver at the time.

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Full Answer

It is important to note that the "value" of silver coins refers to the price that a dealer would pay to buy it, rather than the "price," which is what a customer would pay to buy the coin from a dealer. To determine the value of a silver coin, research the value of identical coins in the same condition. You may wish to have your coin graded by a professional to determine an accurate value.

Trends can influence the price of silver coins. If a particular coin becomes popular throughout the numismatic community, its value may increase. The value of a silver coin may also vary depending on how many of that specific coin the dealer has on hand. Experts recommend getting quotes from multiple dealers in order to get the highest value. Time also plays a major influence on the value of silver coins, as old coins tend to be more rare. Scarcity often creates value, especially when it comes to numismatics.

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