January of 2013 saw a small growth in the value of silver, around 3.7%. During the same period gold actually dropped by 0.8% but analysts seem to agree that gold will see a steady rise overall.
Today silver is at $31.78. You can buy one dollar face value of circulated 90% silver US coins for around $30 including postage. How much you might spend will depend upon where and how you make your purchase as well as your level of knowledge on the subject. But, at the time of this writing I can easily find junk silver coins for that price range even when buying very small quantities at a time.
Those who know little about coins and precious metals but who are interested in the idea of collecting are likely to fall victim to the highly over priced “collectable” coins seen in some markets. Television, newspaper and magazine ads are notorious for over pricing and you can literally wind up paying double or triple the price you should have AND that is NO investment.
But sometimes we can find good opportunities when it comes to silver. Yesterday I found a coupon in the mailbox for a 2013 American Eagle coin for thirty bucks, and that includes postage. I feel like that is an excellent deal myself.
During January 7,498,000 2013 minted American Eagle silver coins were sold, an all-time high record month for that coin! In addition to the American Eagles 28,960 American the Beautiful 5 Ounce Silver Bullion Coins were sold in January. There is no doubt that interest in silver is stirring.
I like the American Eagles for silver but I prefer the so-called ‘junk” silver coins. The pre-1965 90% silver coins in average circulated condition. In nearly all instances you can obtain these coins at a much lower premium than other forms of silver. I mentioned the coupon for $30 and free shipping I have on a 2013 Silver Eagle and you can sometimes find deals like that. You will be much more likely to pay at least $38 but probably more for a Silver Eagle of any year.
The Silver Eagle coin isn’t just about silver and neither is its value. Various mintage numbers throughout the years means that some are more rare than others and collectable value can factor into it. It isn’t much different with circulated “junk” coins. a bag of Barber Halves would bring a higher premium than 1963 Kennedy Halves although containing the same metal.
Roosevelt dimes and quarters are some of the best forms of physical silver to have. When we get to the point that average people will be using silver to barter with a dime or quarter dollar would often be a much more handy unit than a full ounce coin.
Collectors use American Eagle coins, silver bars, and/or pre-1965 90% silver coins as a means to build a silver holding. Some collectors concentrate on one form while others maintain a variety.
The important thing is to become informed and able to make the best decision when you get to that purchasing decision. Buy what is right for you and beware of what premium you might pay.
D Slone, Copyright 2013 CoinCollectorGuide.com