Investing in Silver Coins: The Best US Coins to Buy (And What to Avoid)
Overview
Investing in silver coins can be a lucrative way to diversify your portfolio, but not all coins are created equal. In this blog post, we'll go over the best US silver coins to buy for investing, as well as the ones to avoid. We'll also debunk some common myths and give you some tips on how to avoid getting ripped off.
Silver Dollars
First on our list is the American Silver Eagle. Minted since 1986, the Silver Eagle is one of the most popular and widely recognized silver coins in the world. Its design, featuring a walking Liberty on the obverse and a heraldic eagle on the reverse, is both beautiful and iconic. Not only is it a great investment, but it's also a great addition to any coin collection. Be careful to keep an eye on the premiums on these, as they can be high depending on the dealer.
Next up is the Morgan Silver Dollar. Minted from 1878 to 1904 and then again in 1921, the Morgan Silver Dollar is a classic coin that's beloved by collectors and investors alike. With its intricate design and historical significance, the Morgan Silver Dollar is a must-have for any serious coin collector.
Another great option is the Peace Silver Dollar, minted from 1921 to 1935. Like the Morgan Silver Dollar, it's a classic coin that's highly sought after by collectors. Its design, featuring Lady Liberty on the obverse and a bald eagle on the reverse, is stunning and timeless.
If you're looking for something a bit more modern, the Silver American Eagle Proof is a great choice. These coins are minted in limited quantities and are specially treated to give them a beautiful, mirror-like finish. They're also certified by the US Mint, which adds an extra layer of authenticity and value.
Junk Silver
Investing in junk silver coins can be a smart way to diversify your portfolio. Junk silver coins are pre-1965 US dimes, quarters, and half dollars that contain 90% silver. These coins are also referred to as constitutional silver or 90% silver coins.
One of the benefits of investing in junk silver coins is their affordability compared to other silver coins. Junk silver coins are sold based on their face value, which means they can be purchased at a lower premium over the spot price of silver than other silver coins. This makes them a great option for investors who want to own physical silver without having to spend too much money.
Another advantage of junk silver coins is their liquidity. They are recognizable and widely available, which means they can be easily bought and sold at coin shops or online marketplaces. This makes it easy to convert junk silver coins into cash when needed.
Junk silver coins are also popular among survivalists and preppers. In times of crisis, physical silver can be used for bartering and buying goods and services. Junk silver coins are small, easy to carry, and can be easily exchanged for other goods.
Investing in junk silver coins can be a practical and cost-effective way to diversify your investment portfolio. However, it is important to purchase them from reputable dealers to avoid buying counterfeit coins.
When it comes to what to avoid, be wary of any coins that have been heavily circulated or damaged. These coins may be cheaper, but they're also less valuable and harder to sell. Additionally, be wary of any coins that have a high premium over the spot price of silver. While some premium is to be expected, excessive premiums can eat into your potential profits.
To sum up
Investing in silver coins can be a smart move, but it's important to do your research and choose the right coins. The American Silver Eagle, Morgan Silver Dollar, Peace Silver Dollar, Silver American Eagle Proof, and junk silver are all great options, but be sure to avoid heavily circulated or damaged coins, as well as coins with excessive premiums. Happy investing!
