If you’re like all other coin collectors and investors then you want to buy silver, and you want to find the best deals. Plus, you want to know how to buy it cheap as possible. Here’s a few silver buying techniques I have learned over the years that I will share with you.
Coins with damage are often called culls, or “slicks” and usually have a lot of wear and no date. Culled coins sell for less than their better grade counterparts. The thought is that they have less silver because of the amount of wear, but most only weigh a little less than their mint specification.
As a matter of fact, percentage wise, they sell for less than their lack of silver content actually is. The reason is their poor eye appeal is lacking. In example, if the current melt for a uncirculated, 90% silver dime is $2.36, a cull, 90% silver dime can sell for as low as $1.00 and only weigh a two or three grains less than the unc example.
Now that’s a deal to be had!
The ugliest coins are the least desirable and this includes silver coins. Find the most ugly, marked up and scratched coins on the market for the best deals. When you approach a dealer’s table or shop, pick out their most damaged or cleaned coins and make them an offer lower than their asking price. You might be surprised when they accept it.
The crucial fact of this method is that most of these coins will still have the exact silver weight, as from the mint, just like the choice grade coins, but for a reduced price.
Common Coin Series/Dates:
The best example of this is comparing the final value, at ebay, of a roll of BU Franklin Halves to a BU Roll of 1964 Kennedy Halves. Guess which sells for lower? Guess which coin is more common? Yes, it’s the 1964 BU Kennedy Half Dollar roll.
You can find the best deals buying uncirculated rolls of the least common silver coin series, and even common dates. Roosevelt Dimes compared to Mercury Dime values is yet another example.
40% Silver Coins:
Buy 40% silver clad Kennedy Halves and Eisenhower Dollars is another cheaper way to acquire silver. These coins are not as popular as their 90% silver counterparts and can be purchased at more reasonable values. Most collectors over look 40% silver clad coins. In addition, look for circulated examples for even better deals.
World Silver Coins:
World silver coin collecting hasn’t really caught on in the general, since most collectors collect US silver coins, and this is to your advantage. World coins have less demand than US Coins and bargains can be found across the board.
However you should school yourself on what countries minted silver coins, and in what years, plus you want to know the exact silver content of each year and country. It’s not all the same, but a little research can go a long way, and the facts are not difficult to obtain from the Internet.
If the idea is just to amass silver holdings then it shouldn’t matter what condition or how popular a coin is, just buy it, because it’s silver!