Don’t Judge a Silver Dollar by Its Weight

There’s more to these coins than meets the eye
The price on silver is currently near its all-time highThe price on silver sits near an all-time high, and millions of Americans are thinking about trading in their old coins to take advantage of it. However, the value of a silver dollar—and any other coin made from the material—is dependent on far more than the intrinsic worth of its components. Before you sell your silver dollars to the nearest pawn shop for a fraction of what they could be worth, consider the factors that may enable you to maximize your investment.

What’s the Current Price on Silver?

Although the price of silver fluctuates on a daily basis, it has been trending upward for some time. Over the past several years, it has ranged around $20 per ounce and remained far above its long-term levels. This has created opportunities for owners of silver currency, including silver dollars. There’s always some uncertainty in the market, and silver’s price could decline in the coming years. However, experts don’t believe that this is likely.

Common Types of Silver Coins

There are several common types of silver coins:

• Peace silver dollars were minted between 1921 and 1935. They feature a distinctive bust image on the front and a bird image on the back. As we’ll see, the price of these coins is highly dependent on their condition, mint date and potential rarities.

• Morgan silver dollars were minted between 1885 and the 1930s, but the most valuable were generally produced before 1921. Due to the Morgan dollar’s long production window, it’s imperative that owners speak with an expert to determine the value of their holdings.

• Other types of silver dollars and silver coins may have value beyond their component materials as well.

Rarities and Special Dates

Coins made in specific years or with specific features can be shockingly valuable. For instance, Peace coins from 1921 and 1928 are very rare and thus highly valuable. A 1934 Peace coin with a distinctive “double die” minting error is quite valuable too, and the uncirculated 1934-S version is nearly priceless.

First Among Coin Shops in the Buffalo, NY, Area

Whether you’re looking to determine the value of a potentially priceless coin or wish to learn more about the family heirlooms that you’re just getting around to archiving, at Premier Gold Silver & Coins, we’re happy to put our combined decades of gold, silver and antiques experience at your service. To learn more about how to get the most for your precious metals collection, take advantage of the current price on silver or see some of Buffalo’s finest valuables, call (716) 204-8800 or visit our Cheektowaga location today.