Even though junk silver coins might be a perfect solution for your wallet, sold at a price above 100 ounces per silver bar, junk silver coins have a better upside down price than 99.9 sterling silver bars. Scrap silver, on the other hand, is usually sold at a much lower premium than rare coins or bullion. While the premium for these coins always changes, depending on the spot price of silver, it's not uncommon to find these coins available with premiums of 10% or less, depending on the size of your purchase. In contrast, silver bullion coins can exceed the silver content of coins by up to 20% or more.
The main difference between investing in bullion instead of scrap silver is solving the problem of space. Scrap silver requires much more storage space than bullion because of the purity of the ingot versus scrap silver. Scrap silver is usually 90% silver, while ingots can be 100%, thus saving space. In the most basic sense, you can usually determine whether a dime, quarter, half dollar or dollar coin is coated or silver based on its date.
But with silver coins? You can do all those things and much more because they are real and hard money. This online calculator will calculate the value of silver coins in any amount entered in the online interface. For the sake of clarity, we will classify scrap silver as something other than investment grade, high purity silver bullion. But it is the historical case that 90% of silver coins have performed quite well for many people who have invested in them.
Unlike many forms of precious metal investments, such as gold or silver bars, selling scrap silver is as easy as buying it. That is much heavier than the amount of pure silver in a dime, quarter, half dollar, or even a standard silver dollar before 1971.When it comes to investing in silver, sometimes it's not just about stacking the highest silver pile at the lowest price. The US government stopped making silver coins for circulation because it became too expensive. Choosing between junk silver coins or bullion is largely a matter of investor's goals and resources.
In addition to accumulating or selling it? Well, a lot of people melt their scrap silver to sell it as scrap metal or use it to make other silver products. Since you can't buy dimes in tenth increments, it's better to buy 14 silver coins if you want to have at least one troy ounce of silver in ten cents. Unlike bullion or collectible coins, you can buy scrap silver at a very low premium, the perfect strategy for the cost-conscious silver investor.
