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Silver Coin Collecting

 
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New Member
United States
10 Posts
 Posted 07/10/2019  9:23 pm Show Profile   Bookmark this topic Add Dan John Longano to your friends list Get a Link to this Message
I'm new to this forum so I hope my post is in the right place. My question is, some people make a big deal when they discover a silver coin. It doesn't seem to matter if it's a nickel or a half dollar. I think some coins are ninety or forty percent silver. Is this a good investment, do they melt the coins down? Please explain, I'm very new to this hobby. Thank you in advance.
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United States
13579 Posts
 Posted 07/10/2019  9:29 pm  Show Profile   Bookmark this reply Add Spence to your friends list Get a Link to this Reply

Quote:
some people make a big deal when they discover a silver coin


I'm definitely one of those people. I get excited not because I'm making money, but because I'm finding a part of history.
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12596 Posts
 Posted 07/10/2019  9:41 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
Most of the time when people get really excited they had found it in change or for face value. Any of those found for face value are worth more than face value hence the excitement. There are a percentage of collectors that think that real money has to be silver or gold which is a different dicussion, but the short answer really is just they are excited they found something worth more than they paid
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 Posted 07/11/2019  03:39 am  Show Profile   Check spruett001's eBay Listings Bookmark this reply Add spruett001 to your friends list Get a Link to this Reply

Quote:
the short answer really is just they are excited they found something worth more than they paid


That's mostly it. However, I don't think many people are melting and refining war nickels or 40% coins. It can be a hypothetical excitement in some cases.
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Valued Member
United States
184 Posts
 Posted 07/11/2019  07:37 am  Show Profile   Bookmark this reply Add Ariette to your friends list Get a Link to this Reply
Nothing like finding some hard money in circulation. I can't say it's ever happened to me, but I certainly would be delighted if it did.
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11865 Posts
 Posted 07/11/2019  08:06 am  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply
In this day and age finding a silver coin 1964 and earlier is very exciting simply because they are no longer made for circulation .Plus their silver value makes for a real nice find . For some of us old timers using silver in every day exchangers prior to 1965 was never an excitement . But stop making a coin with intrinsic value and after 40 or 50 years they become sort after just like 90% silver is today .
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United States
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 Posted 07/11/2019  08:07 am  Show Profile   Bookmark this reply Add tdziemia to your friends list Get a Link to this Reply

Quote:
I can't say it's ever happened to me, but I certainly would be delighted if it did.


I hven't found a silver dime or quarter in circulation for a long time, but I still find a couple of war nickels a year. One of the places I work has a cash register, so that helps.
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United States
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 Posted 07/11/2019  08:24 am  Show Profile   Bookmark this reply Add Dan John Longano to your friends list Get a Link to this Reply
Some collectors want to collect for the history, but they are just collecting silver. I see some people buying boxes of rolled coins from banks, sorting through and picking out the silver. Do they hoard the coins, or do they sell them somewhere because of the silver content?
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Belgium
1011 Posts
 Posted 07/11/2019  1:19 pm  Show Profile   Bookmark this reply Add 1c5d7n5m to your friends list Get a Link to this Reply
today with the relatively low silver price, buying post WW2 silver coins is indeed a good investment
holland (guldens, rijksdaalders) france (5 fr semeuse) and switzerland (2 fr 5fr)

for coin collecting I agree with Spence; history is very interesting
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10967 Posts
 Posted 07/11/2019  2:53 pm  Show Profile   Bookmark this reply Add Dorado to your friends list Get a Link to this Reply
To the Forum.
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United States
10 Posts
 Posted 07/12/2019  06:23 am  Show Profile   Bookmark this reply Add Dan John Longano to your friends list Get a Link to this Reply
Thanks for the answers and warm welcome.
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United States
5722 Posts
 Posted 07/12/2019  2:34 pm  Show Profile   Bookmark this reply Add Finn235 to your friends list Get a Link to this Reply


It's anyone's guess what will happen to silver. Historically, silver value mostly kept pace with face value until the early 60s, when it began to sneak past, culminating in the removal of silver from circulation almost worldwide. It crept up slowly until the Hunt brothers attempted to corner the market in the early 80s. During that time, nearly all circulating silver was removed, and a pretty large percentage of it was probably melted. It held fairly steady at about $5/oz from the mid 80s until the mid 2000s, where it shot up to almost $50/oz again in mid-2011 (still kicking myself for not offloading all of my silver then!) and has been slipping ever since. It has been pinballing between $14 and $17 for the last few years, and hasn't gone below $13 in over a decade. Thanks to inflation, I don't think it's possible for silver to ever go below $10 again. I'm sitting on several ounces that I intend to offload if it ever hits $25 again. If I'm lucky, that will let me buy a new TV or a nice grill; certainly nothing to retire on.

With few exceptions, coins are a poor investment. As far as hobbies go, they are highly liquid and at least shouldn't lose much value, but precious few coins gain value at all, let alone ahead of inflation. A much better bet would be to buy coins to flip for a quick and modest profit, and then invest that money (or even just the profit) into stocks, or if you are brave enough, crypto.
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18670 Posts
 Posted 07/13/2019  08:05 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Keep on looking.
just carl
New Member
United States
10 Posts
 Posted 07/13/2019  08:31 am  Show Profile   Bookmark this reply Add Dan John Longano to your friends list Get a Link to this Reply
" I'm sitting on several ounces that I intend to offload if it ever hits $25 again. "

Are these old silver coins that you have, and if so, who would you sell the coins to?
If you decide to sell when the price is higher, who would want to buy it?
This is all new to me. I purchased a metal detector, and have found coin collecting
and metal detecting are made for each other.
Valued Member
United States
431 Posts
 Posted 07/13/2019  09:10 am  Show Profile   Bookmark this reply Add srcliff to your friends list Get a Link to this Reply
Chances are that silver coins even in low grades will always be worth more than their face value in our lifetime so if you get one in your regular change or find one searching rolls from the bank it's a win. I own a retail business that still does a lot of cash transactions so I tend to find more than most people but even so I might find a dime every month or 2 and a quarter a couple times a year. Funny that last week I found 1 of each but that is rare.

There is a mixture of opinions on the wisdom of buying silver for an investment but collecting it from circulation is basically free (or rather very cheap) money.
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