Investors, who like to maintain diversity in their profile, often like to include silver dollars in their collection. Old silver dollars are definitely worth buying, primarily because the price is always higher than the actual market price of silver. In recent years, the demand for silver dollars has only increased, and as a result, prices tend to be high. Before you consider silver dollar as an investment, here are some of the aspects you need to know.
What determines the price?
The price of silver dollar is dependent on several factors, including the condition and history of the particular one. Rarity and demand are other critical aspects. When it comes to silver dollars, the price is often determined by the date. A good example of that would be the silver dollars minted between 1948 and 1949, which can be priced differently, primarily because more coins were minted in 1949 than 1948. The condition of a silver dollar is also important. For example, a coin that hasn’t been circulated at all or is in a better condition with limited scratches will always fetch a better value. It is also important to understand that silver dollars always appreciate in value, especially the ones with historic significance. Some silver dollars have sold for millions at auctions.
Where to buy?
Much like any rare coin, you have to acquire or buy your silver dollar from a dealer you can trust. We would highly recommend that you skip all those pawn shops and independent dealers, because it is hard to verify authenticity. You are also never sure if the coin was cleaned or polished, as many sellers want to make the coin appealing to buyers. An old silver dollar will have a few aging marks, and that’s normal. Find a dealer who deals in silver dollar and has a good collection. The dealer should offer a certificate of authenticity and must buy back rare coins and silver dollars when required.
Things to check for
If a silver dollar is rare and in demand, expect to fetch a good price for it. Steer clear of any seller who doesn’t talk of the source or isn’t sure why the product is priced higher. Secondly, do check the condition of the coin. It should not look in mint condition, but you can always discuss the price and other aspects if the silver dollar has too many dents and marks.
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