As the experts say, “never keep all your eggs in the same basket”. Being an investor, you have to find ways to diversify your portfolio, and there are quite a few options beyond stocks and precious metals. One of the better ideas is to invest in old silver dollars and rare coins – both being items worth collecting, and typically, you can expect to get a better value when the time is right or when you find a genuine buyer. Thankfully, most of the known and reputable dealers deal in both silver dollar and rare coins, but as an investor, you have to be a tad more careful. Below are some of the aspects worth knowing about silver dollars.
Old silver dollars are similar to rare coins – They eventually appreciate in value with time. however, there are a few factors that you must consider. Firstly, the rarity of the silver dollar is an aspect you cannot afford to ignore. Rarity doesn’t necessarily refer to the date of the dollar. Instead, it is the availability that matters. A good example is the 1948 silver dollar, which is much rarer than the 1949 one, and therefore, even when two coins of different but close period are similar in condition, one might have better value than the other. The condition and history of the silver dollar also determines its price. In case of common silver dollars, you can expect to pay a price that’s slightly over the spot value of silver.
How to deal in old silver dollars?
As mentioned earlier, there are dealers who buy and sell old silver dollars on a regular basis, but it is best to do some initial research. For Key Date coins and silver dollars, you can expect to get a good price, if the dealer is fair enough with the process of evaluation. The condition of the silver dollar also determines the price you pay. One of the original coins that has never been in circulation and still has the mint luster will have more value than a circulated one of the same period. However, be careful of the coins that have been cleaned or polished, because the surface is no longer original, and therefore, any dealer will not value it like others. Take your time to check silver dollars for corrosion, dents and scratches, which can reduce the price.
Consider the eye appeal more than anything else.