Buying silver - coins or collectibles?
Posted 03-14-2010 at 01:38 AM by Andyhenry
In my opinion, buying silver collectibles is not effective. There are a few reasons why I feel that way, but the main one is, generally speaking, when you buy collectibles people want to get more money for the item as they are somewhat "prettier" and more unique than regular silver. The fact is that silver is a metal, and you don't need to store it in the form of coins, silverware, bars or any other item for it to be valuable. On top of that, collectibles are harder to sell than regular silver because you need to find a buyer who values its collectible nature and you have to demand higher prices to get a decent return on your investment.
You should instead focus on buying silver based on its purity and weight. Whenever you try to invest in silver, you should be presented with the "price per ounce" and you should be given information as to how pure the silver really is.
It is good to remember that pure silver (about 99.9% pure) is very difficult to handle as it easily bendable and it's impossible to make large objects with it. That is precisely why when people make collectibles they include a certain amount of copper or some other material to give the silver some strength and make it possible for them to create full works, spoons, and other items of everyday use.
Such mixing of materials will of course result in decreased value of the silver you are trying to sell. Remember, the more pure your silver is, the more money you can ask for it.
When you invest in silver, the percent and the weight are what matter. Of course the numbers minted on the coins indicate how old the coin is and when exactly it was minted, but it has very little significance to silver investors.
You might want to focus on this if you want to sell your coins to coin collectors, but silver investors don't care about the age of the coin at all. What they do care about is as I mentioned the quality of silver as well as how much they're getting.
Obviously if you have a coin that's a really, really old, then you should think about what to do with it, but in general, the numbers that are minted on the coin don't really matter as far as a silver investment.
Andy Henry is the author of 'Now Invest In Silver' a beginners guide to investing in silver and the owner of Now Invest In Silver and Selling Your Silver the new auction site dedicated to silver buying and selling.
You should instead focus on buying silver based on its purity and weight. Whenever you try to invest in silver, you should be presented with the "price per ounce" and you should be given information as to how pure the silver really is.
It is good to remember that pure silver (about 99.9% pure) is very difficult to handle as it easily bendable and it's impossible to make large objects with it. That is precisely why when people make collectibles they include a certain amount of copper or some other material to give the silver some strength and make it possible for them to create full works, spoons, and other items of everyday use.
Such mixing of materials will of course result in decreased value of the silver you are trying to sell. Remember, the more pure your silver is, the more money you can ask for it.
When you invest in silver, the percent and the weight are what matter. Of course the numbers minted on the coins indicate how old the coin is and when exactly it was minted, but it has very little significance to silver investors.
You might want to focus on this if you want to sell your coins to coin collectors, but silver investors don't care about the age of the coin at all. What they do care about is as I mentioned the quality of silver as well as how much they're getting.
Obviously if you have a coin that's a really, really old, then you should think about what to do with it, but in general, the numbers that are minted on the coin don't really matter as far as a silver investment.
Andy Henry is the author of 'Now Invest In Silver' a beginners guide to investing in silver and the owner of Now Invest In Silver and Selling Your Silver the new auction site dedicated to silver buying and selling.
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