There are numerous factors that influence silver coins’ worth. One important factor is the silver dollar value, which can range from $20 to thousands of dollars. The silver dollar is essentially a one-dollar coin and constitutes at least 90 percent silver. They portray some of the country’s highly respected symbols and serve as tributes to people, institutions, and various events. If you’re looking to trade silver dollars, read on to know more.

A silver dollar generally contains 90 percent silver and 10 percent copper. They are well-known for being premium collectibles and liquid coins available today. One of the main reasons for this is the variety of designs and the stories behind each unique coin.

Types of silver coins

Bullion coins

Coins made almost entirely out of a precious metal, like silver, are called bullion coins. They are thought of as investment-grade silver and are made of highly refined metal. They are commonly referred to as “sovereign” coins since the government both produces and backs them. Additionally, they have a face value.

Junk silver

Old quarters, dimes, Morgan dollars, and Franklin half dollars with dates of 1964 or earlier, with 90 percent silver composition, are referred to as junk silver.

Numismatic coins

Rare coins are referred to as numismatic coins that collectors buy and sell. Unlike bullion coins, their worth is not entirely determined by the amount of silver they contain. The value is mostly determined by their scarcity, condition, and demand. Compared to bullion coins, their premiums are often substantially greater and can reach thousands and even millions in a few cases.

Rounds
These round silver coins are made by a private mint. They have the same face value as that of government-made coins. They are typically of good quality and have lower premiums. Most private mints produce their coins, and many organizations will opt for a round.

Why should you buy silver coins
These are some of the benefits you can get from purchasing silver coins.

Tangible assets
Silver coins are tangible assets. They are not something that can be produced out of thin air, like paper money. This is why they won’t lose value over time like paper or digital forms.

No counterparty risk involved

You don’t need a third party to fulfill a pledge or contract if you own actual silver. Moreover, a person is not at risk of default. This cannot be said for investments like stocks, bonds, or other types of investments.

Liquidity

Almost anyone in the world can buy and sell silver coins. Nearly every significant city has bullion merchants trading in silver. Your silver coins’ worth are likely to remain high even during a crisis. Other collectibles, such as artwork, require a larger commission, take longer to sell, and may have a niche consumer base.

Tips to determine the silver coins worth and value
Only a physical assessment by an experienced coin dealer can help you truly identify the worth of your silver dollars. But by learning some of the fundamentals regarding silver dollars’ value and how these coins are evaluated numismatically, you can become better informed about the worth of your silver coins.

The year and the mint mark
The year and mint combinations are said to be highly popular among collectors. The entire value of a silver dollar depends on where it was cast and the mint mark, which identifies the country of origin.

The general state

A silver dollar with the same date and mintmark combination that has never been used as currency and is almost smooth will be worth much more than any other silver dollar. Uncirculated coins are always kept under the best conditions, which will increase their overall value. A coin that’s extremely well maintained will be higher in value than those that are below average in appearance.

Cleaned coins

It is important to note that cleaned silver coins can significantly reduce the value. The coin’s surface becomes more dull each time it is cleaned. This can reduce the coin’s appearance and lower its value.

Grading

There are two companies where you can get your coins professionally graded — the PCGS (Professional Coin Grading Service) and the NGC (Numismatic Guaranty Company). Your silver dollars value will depend on the grade assigned by these agencies. Coins graded by PCGS are known to have a relatively higher value, as the company is believed to have a stricter grading scale.