Silver Coin Appraisal

As an investor or as a collector, silver coin appraisal tops the list of importance. Appraising the coins ensures the real and true value of the silver coins–especially if a coin is rare and, or unusual.

In you have a significant silver coin collection then a regular appraisal is important for insurance purposes. A loss through fire or burglary can be devastating both financial as well as emotionally and, while insurance cannot compensate for the emotional loss, at least it can compensate you for the financial loss you may suffer.

Therefore it is quite important that a proper appraisal of your silver, and indeed, any other valuables you may have, is done to establish the true value of your coin collection. Remember, value is determined by demand, scarcity, and condition—not your personal opinion.

Have a professional coin dealer, who is also a member of a respected coin association in your country, to appraise the coin or coin collection. A professional is usually the best option. However, there are now several coin appraisal websites that will give you a rough estimate.

In this particular instance, using an online resource like eBay is extremely helpful. Search eBay for a similar coin such as yours, look for year, condition, and other similarities as close to your coin as possible. Then look for the bid prices to see what your coin may be worth.

Another on-line resource is on-line coin dealers; sometimes you can find the coin(s) you have online and see what online dealers are charging for them. This gives you some idea of its value. Keep in mind, however, that dealers will add her own mark up to the price, so you won’t get the some amount a dealer asks for.

But, for an off-line option go to the library. Coin appraisal books are available at most local libraries. While the books maybe out-of-date, the coin appraisal books will still offer a close rough estimate.

You will have to pay for a professional coin grading service, but the small amount you pay is worth it to get a proper assessment of the value. You’ll need to ensure that you get a written statement from the professional service that fully describes each coin and the estimated value as of the date you have grading done.

Another aspect to be mindful of is the condition and quality of the coin. Silver coins are graded according to a specific system and your coin will fall somewhere on that grading system. This system is also easily found on the net.

Lastly keep in mind that coins in sets of coins and proof coins generally are worth more than single coins.

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Silver Coin Grading

An important part of determining the value of any silver coin–particularly a rare or unusual one–comes from silver coin grading. Some of the factors used to determine the value of a silver coin include, the quality leaving the mint, the weight, the content of silver, the original seal, and the certificate.

The quality of the silver coin when it leaves the mint determines a lot of the coins value. In fact, it’s possible that even proof coins can have very tiny imperfections that result during the striking process at the mint. So, when a coin struck at the mint an imperfection will be left even from a tiny hair or hint of dust between the coin and the die.

Indeed, the same goes for the weight of the coin, and along with weight is how much silver a coin contains. Meaning, what percentage of silver it has. Most silver coins will be around 99.99 percent silver. Certainly, with the silver content, the weight specifications should also be known, such as grams or ounces. The weight and purity of silver in each coin largely determine the value, or grade of the coin.

Oils, bacteria populations, and just plain dirt sit on your hands. So, if the coin is in its original seal or bubble, that seal saves the coin from all the oil, bacteria and dirt from hands. Definitely, the less exposure to air and accidental touching the higher value the coin will remain.

As an additional note, proof silver coins are struck in a special way with extra attention to the striking process and sealing process. These silver coins, primarily meant for collectors, could be an investors dream because of the special care taken during minting and sealing: it keeps the coin far more valuable.

Among other factors, a certificate of authenticity proves the value of the coin in question. If a certificate comes with the coin describing the qualities and specifications of the coin keep it with the coin. Certificates verify a coins value.

Another important point to consider about certified silver coins is the idea of protecting both the buyer and the seller. Certificates provided protection, an agreed grading, and value for the silver coin for all parties involved.

As rule of thumb, all—indeed all, rare silver coins should be independently certified for grade and authenticity by a leading independent grading service.

So when you first receive a coin fresh from the mint do a careful examination of both sides of the coin to ensure there are no imperfections. This should be done while the coin is in its protective holder or bubble and should–under no circumstances, ever be removed and handled because of the oil, bacteria populations, and dirt we talked about earlier: the coin could be devalued from your hand.

Check for hairline cracks created just by handling a silver proof coin. Handling the coin remains why many silver coins are downgraded to Proof-63 and Proof-64 instead of Proof-69 or Proof-70. Anything that touches the surface of the coin can leave hairlines. Sorry for the repetition, but touching the coin devalues the coin.

In addition to never handling the coin, silver coins should never be cleaned. Even cleaning a silver coin can adversely affect its grading. In rare cases, coins should be cleaned, but even then, cleaning silver coins should be left to a professional.

As chemicals clean the silver, the chemicals can sometimes remove a layer of silver leaving a bright surface underneath. Or, a second method of cleaning uses mechanical cleaners where abrasives are used and will commonly scratch the surface of the coin. Either chemical or abrasive cleaning can reduce the grading and therefore the value of the coin.

Simply put, it’s almost certainly wiser to avoid any cleaning whatsoever as cleaning may decrease the grading of the silver coin.

To conclude, silver coin grading is very important to ensure you can demonstrate the true value of your coin collection and well worth the small amount it costs to obtain certification. Get it graded.

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