If you are planning of investing in silver, it is obvious you are either looking to buy more or manage what you already have. It can be anything that you possess, which is mostly either jewellery or coins. However, it may also be that old dollar coin which you think is more of memorabilia. But it is actually worth more than that, a whole lot more than that.
Silver Liberty Coin Value
You may think a dollar is worth what it says, a dollar. But is it, really? A silver liberty coin value is much more than a dollar even if it is written so on the coin itself. A silver liberty coin is a dollar made out of silver, which are obviously quite out of fashion now since as we have evolved as a society, we have stopped dealing with precious metals. Those kinds of transactions just do not exist anymore. However, that does not mean that the silver liberty coin you have does not have its own value today. It most definitely does, especially as the silver prices are rising every day.
The value of silver liberty coin is not only limited to the silver it is made of but also every coin has its own historical importance and of course, value. The silver liberty coin value can be ascertained in various ways, the first way is to determine what period it belongs to.
Now, this can become a long history lesson, so, to simplify it we will walk you through the coins that seem to have the most weight when it comes to historical significance.
The Bust Dollars are the most collectable and quite rare. They can go for hundreds of dollars each depending on who is buying. They were made during colonial times and are, of course, are the very fists to be made from 1794 to 1804.
Then come to the Seated Liberty Dollars coins (1840 – 1873). They are perhaps the rarest due to their low mintages and even lower survival rate. They are hard to find hence if you have one in a good condition you can make hundreds out of it.
Then there are Morgan Silver Dollar coins that do not sell for hundreds but can fetch you at least 20 times of what they are originally worth. Similarly, Peace Dollar coins also go for 18 times of the original value of one dollar and are definitely a collector’s item, though most of their value comes from the silver content and not really any other attached value.
The Date, Mintage and Grading of the Coins
If it is not obvious already, the earlier the date of production the more expensive the coin gets in the market. Few coins can get really rare just because of the year they were produced in, especially during war years.
Next comes where your silver dollar was minted. During late 18th century, many mints were constructed all over the USA and evidently, if the coin was minted in New Orleans you will see an ‘O’ on the bottom of your coin along with the year of its mintage. Some mints are popular among collectors than the others, so where your coin got minted is also a great way determining its actual value.
Next comes the grading. Everyone has their own ups and downs, and so does the coins; a good way to find out when is to see how the coins are graded. Some coins you will find are graded very finely and others you will find are rough when you touch them. Some of these are production issues others are mostly just how much that coin has been used.
The condition of the coin is definitely a very important factor to consider if you are setting out to sell it. Collectors normally like a coin free of wear and tear, a rough coin may not extract the value as a fine on.
However, if there are some errors in your coin that is rare, that may also affect the value.
The real silver liberty coin value can only be determined by an expert, however, these few features you can identify yourself and ascertain a rough value of how much your old dollar can actually go for.