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Any Tips About Collecting Silver Coins?

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JulioEC's Avatar
Argentina
44 Posts
 Posted 03/07/2023  11:02 pm Show Profile   Bookmark this topic Add JulioEC to your friends list Get a Link to this Message Number of Subscribers
I suppose you can collect whatever you want. Any coin whatsoever that you can grab. Coins minted in Egypt. Copper coins. Coins with lettered edges. Coins depicting elephants...

In my case, I started buying a gold coin I liked or found interesting every now and then. And then boom! I discovered silver coins. That's my thing. That's what I like as a collector.

I found a couple of books about collecting silver coins specifically, but they were about rare silver coins, particularly old German ones. There are some guides to collect US silver dollars, etc.

My question here is broadly referring silver coins. Anything in particular that a collector of silver coins should now? Any advice, or interesting / vital info about grading, toning, prices, storage, chemical reactions, tiny green Martians coming during the night in order to steal them and bring them to their planet, anything.

I want to know! I deserve the truth! I am entitled to the truth! I can handle the truth about silver coins! So please tell me everything about silver coins.
New Member
JulioEC's Avatar
Argentina
44 Posts
 Posted 03/07/2023  11:26 pm  Show Profile   Bookmark this reply Add JulioEC to your friends list Get a Link to this Reply
I forgot to add, there are many guides online about bullion silver or silver stacking. Which is fine. But I was more looking for advice about collection pieces, older coins, which ones to choose, etc.
Valued Member
United States
283 Posts
 Posted 03/07/2023  11:29 pm  Show Profile   Bookmark this reply Add Nycstlrr to your friends list Get a Link to this Reply
You can listen to the so called experts on what to buy, what to invest in but it all comes down to what you like.

Myself, I collect all the Canadian 80% silver I run across.
Edited by Nycstlrr
03/08/2023 02:55 am
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sel_69l's Avatar
Australia
21786 Posts
 Posted 03/07/2023  11:42 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
I don't collect new proof NCLT silver.
My experience is that new NCLT is sold by the Mint at the highest price that the market will bear;
performs poorly in the secondary after market.

If you are keen on proof silver NCLT
look for it at reduced prices in the secondary aftermarket; you are much more likely to find good common sense bargains in this market.
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jacrispies's Avatar
United States
3848 Posts
 Posted 03/08/2023  01:11 am  Show Profile   Bookmark this reply Add jacrispies to your friends list Get a Link to this Reply
Sounds like you need to complete a type set to find your niche! I filled out a Dansco 7070 type set to discover that I love early US half dollars, particularly the capped bust lettered edge series.

I store my nice ($400+ coins) in airtites. If you keep them in sulfurous envelopes, they will tone.

With copper, surface preservation and corrosion are big deals. Silver is less reactive with the environment so you do not need to worry as much with corrosion.

I am a sucker for old thalers as well. Giant silver coins are really neat.

Silver is my bug too. Surprisingly, gold does not appeal to me as much as silver. I am not a fan of the color yellow Copper is too reactive with the environment.
Suffering from bust half fever.
Want to learn how to attribute early half dollars by die variety? Click Here: http://goccf.com/t/434955
Shoot me a PM if you are looking to sell bust halves.
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PlumCrazy814's Avatar
United States
883 Posts
 Posted 03/08/2023  05:43 am  Show Profile   Bookmark this reply Add PlumCrazy814 to your friends list Get a Link to this Reply
1. Buy low, sell high

When buying silver, you should know the composition and weight of the coin you are buying so you have a better idea of the market value of the silver content. This helps you determine how much over the silver content value you are paying for the coin. I search for the current price of silver and research the silver content of the coin I am interested in.

The amount you are willing to pay over the current silver value is (obviously) determined by your personal interest in the coin. Personally, I find collecting series a bit frustrating, so I tend to focus on interesting commemoratives. I will buy common silver coins if I find a good deal and may keep those, and ones found in circulation, but tend to not retain worn finds.

I try to keep all my silver coins at least in 2x2 cardboard flips. If they get cloudy in original packaging, I have no issues with breaking them out and trying to get rid of that using acetone.

I also try to store them in a relatively cool (54-68 DEGF) dry (50% or less relative humidity) space to slow oxidation.

You may have discovered that silver prices tend to be more volatile than gold and silver generally doesn't perform as well as a long-term investment. If I would have converted all of my silver to gold in 2000 I would have arguably more value today. Lucky for me, I didn't want to turn my hobby into a business and...I like being able to obtain the greater variety that silver allows within my budget constraints.

Good luck with your silver adventure. Hope you have as much fun as I do.
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tdziemia's Avatar
United States
7934 Posts
 Posted 03/08/2023  07:42 am  Show Profile   Bookmark this reply Add tdziemia to your friends list Get a Link to this Reply
I think the truth about silver coins is that there are MANY attractive types that you will want to have in your collection (it sounds like you are a true collector, and not just buying to re-sell).

Every country, every era, standard circulation coins, commemorative coins, etc.

20th century coins will be the least expensive to acquire in high grade, of course, and there are many nice types, both large and small.
I don't have many 20th century coins in my collection, but some that I like and are affordable are:
- United States Walking Liberty half dollar https://en.numista.com/catalogue/pieces4455.html
- South Africa 5 shillings https://en.numista.com/catalogue/pieces11621.html
- Panama 1 Balboa https://en.numista.com/catalogue/pieces18304.html
- Egypt 10 Piastres (sphinx) https://en.numista.com/catalogue/pieces22666.html

What about going for one silver coin from each country?

And put them in 2 x 2 holders and then don';t worry about them... Just have fun.

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KenKat's Avatar
United States
4085 Posts
 Posted 03/08/2023  10:38 am  Show Profile   Bookmark this reply Add KenKat to your friends list Get a Link to this Reply
I can only say what I like, but I enjoy buying older silver coins that many consider junk silver or melt value but may contain some nicer examples mixed in - i.e., I like Mercury dimes over Roosevelt dimes or Barber quarters and halves or Walking Liberty halves over Washington quarters or Kennedy halves. Oftentimes there will be a few coins in there that have a little collectible value that you kind of get as a bonus when buying in bulk. Or it has some potential to appreciate in value over the years. I know you are in Argentina but I am sure there are equivalent coins that would fall into the same category as the US examples listed.
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JulioEC's Avatar
Argentina
44 Posts
 Posted 03/08/2023  10:44 am  Show Profile   Bookmark this reply Add JulioEC to your friends list Get a Link to this Reply
Hi KenKat! We have less variety regarding old silver coins. In the 19th century they were only minted between 1881 and 1883, 10, 20 and 50 cents (same module as proportion as the US dollar, so our 50 cents is just like your half dollar). I collect 50 cents coins, but you have to be very picky here because they're not generally in good condition. Finding a coin that, not being perfect, is good enough to have some numismatic value is not so easy! But yeah, I chose that coin and I was looking for advice about storage, grading, how silver reacts to certain things, etc. Were I American, I suppose I'd collect Barber halfs, I like its design very much, it's an old coin, a classic, and it seems quite affordable. Cheers!
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Sap's Avatar
Australia
16809 Posts
 Posted 03/08/2023  8:45 pm  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
Silver has been used in coins since the invention of coins, nearly 2700 years ago. Up until the 20th century, most countries regularly used silver as the mainstay of everyday circulating money.

Silver is a "noble" metal, meaning it does not readily react with the environment to corrode. Unlike gold and platinum, however, silver can and does tarnish, or turn black. The culprit is not oxygen (which is what causes copper and other more base metals to corrode) but sulfur; silver's affinity for sulfur and propensity to form black silver sulfide, yet be resistant to most other chemical agents, is highly unusual. This has ramifications for preserving silver coins: you need to keep them away from sulfur. And there's sulfur hiding in lots of things you might not expect, like rubber, cardboard, certain kinds of wood, dyed paper, and various foodstuffs such as eggs, garlic and onions. Do not store your silver coins in the same locations as these items, unless you want them to turn black.

Another chemical you do not want to be using around silver coins is chlorine, which forms insoluble silver chloride on contact with silver. Silver chloride is white, but turns black on exposure to sunlight. Lots of silver compounds turn black on exposure to sunlight, so it's generally a good idea to keep your silver coins out of the sun. Free chlorine, like you find in chlorinated swimming pools or household bleach, will react with silver and cause irreversible discolouration (tarnish remover will not remove silver chloride). But so long as you don't store your coins in a swimming pool or try to clean them with bleach, your coins should be safe from chlorine damage. Chloride, the most common form of chlorine found in salt and seawater, generally does not react quickly with silver; it takes centuries for chloride to form "horn silver" deposits on coins, so it's not something you need to worry about happening to your coins.

You are unfortunate to be both a collector of silver coins, and to be from Argentina. I have always found it sadly ironic that Argentina - whose name translates to "the Land of Silver" - was one of the first countries to abandon the use of silver in coins; it is impossible to obtain 20th century circulating silver coins from Argentina, because none were issued. Most other countries continued issuing silver coins until at least the start of World War I in 1914, with many continuing to issue silver coins for circulation up until the mid-1960s.

Only one country has issued "circulating silver coins" since the late 1960s price spike: Mexico issued silver-cored bimetallic coins in the early 1990s, in an attempt to stop the peso from declining in value. It didn't work; the peso declined, the coins became worth more in silver than their face value, and people promptly punched out the silver core and melted them.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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JulioEC's Avatar
Argentina
44 Posts
 Posted 03/08/2023  9:17 pm  Show Profile   Bookmark this reply Add JulioEC to your friends list Get a Link to this Reply
Sap! Thank you for your complete answer! I still have a small doubt: I have a silver proof coin I'd like to dip into something. To remove fingerprints. As sadly acetone is not easily available were I am, I wondered if alcohol could do the trick, even if it's not as strong as acetone?
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HondoB's Avatar
United States
24992 Posts
 Posted 03/08/2023  9:31 pm  Show Profile   Bookmark this reply Add HondoB to your friends list Get a Link to this Reply
Julio, alcohol is an acceptable although less effective solvent than acetone. Because it is usually mixed with water, make sure that the coin has completely dried before storing it.
If the fingerprints have been on the coin for a while, they are now a permanent feature of it.
Inordinately fascinated by bits of metal with strange markings and figures
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JulioEC's Avatar
Argentina
44 Posts
 Posted 03/08/2023  9:44 pm  Show Profile   Bookmark this reply Add JulioEC to your friends list Get a Link to this Reply
Thank you, Hondo Boguss! If it can't damage the coin, I will at least try and inform you guys later about the result! Thank you for all your answers, everything has been incredibly interesting and helpful to me!
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Slerk's Avatar
Russian Federation
1557 Posts
 Posted 03/09/2023  04:08 am  Show Profile   Bookmark this reply Add Slerk to your friends list Get a Link to this Reply
If you do not plan to make money by buying junk silver, then I would advise you to buy coins on global trading platforms like ebay. you can buy coins in a high degree of safety or with a low circulation to compensate for your money that you paid for the coin in excess of its silver price.
Right now I'm busy collecting Roosevelt dimes, Mercury dimes and Washington quarter. They are relatively inexpensive compared to other older and larger US coins. I'm just trying to collect a collection of dimes and quarters by dates and mints, I'm not in a hurry and I won't spend on this series, it will be a small inexpensive collection of silver coins of small denomination. I keep the collection in 2x2 cardboard flips.
Valued Member
United States
59 Posts
 Posted 03/31/2023  5:14 pm  Show Profile   Bookmark this reply Add Anthony86 to your friends list Get a Link to this Reply
I would buy Dansco albums of silver dimes, quarters and half. Sometimes you can get rolls from ebay and online dealers at a reasonable price. The dates you don't use, you can put in a tube and either resale or 2nd hobby of silver stacking.
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TinyRetreat's Avatar
United States
345 Posts
 Posted 07/12/2023  11:55 pm  Show Profile   Bookmark this reply Add TinyRetreat to your friends list Get a Link to this Reply
Enthusiasm ... I love to see it ! I was lucky enough to meet a "pawn guy" who sold me a bucket of morgans and Peace dollars at a reasonable price. That got me interested at a deeper level. Keep your eyes open and your niche will emerge. Best of luck - Tiny
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