Rare Coin Dealer

A lot of people would be very interested in buying silver coins at a discounted price. The good news is that there are some silver coins that you can actually do this with. These are 90% silver coin bags, which are commonly referred to as “junk silver bags.”

What Junk Silver Bags Are

Junk silver bags really aren’t junk. The term “junk” simply means that these silver coins have been circulated and thus they’re only in average condition. Therefore, these coins are only valued for the amount of silver they contain (usually around 90%), not for their collectible value. Usually these coins were made in or before 1964 when the amount of silver in coins was reduced to 40%. Some examples of these coins include Kennedy half-dollars, Roosevelt dimes and Washington quarters. Most dealers charge 1% under spot for these coins.

What To Expect From Junk Silver Coins

You should expect junk silver coins to look worn. They will usually have nicks and scratches on them too. However, you shouldn’t expect anything less from coins that are at least 40-years-old. This shouldn’t worry you though since it’s what’s inside of these coins that actually counts. Most of the time you will find that these coins are actually 99% silver, which is great news for any investor.

Where To Buy Junk Silver Coins

Junk silver coin bags can be easily purchased from a large, reputable online coin dealer. Of course, you should also be able to buy various sizes and denominations of these junk silver coin bags from your local coin shop too. As a final resort, you can try online auction web sites, which may save you even more money if you are careful.

Conclusion

Now that you know all about junk silver coins, the choice as to whether to purchase new coins (i.e. a newly minted, pristine condition American Silver Eagle coin) or to buy a bag of junk silver coins. Most of the time you’ll find that new coins actually cost 9% more than spot price while junk silver bags cost 1% under spot. Another consideration to make here is that whenever you do purchase junk silver bags you are actually getting 10% more silver than you’d get with the newly minted coins. This is great news for a lot of people who wish they had enough money to purchase and invest in silver coins.

Collecting coins is a popular hobby, and it can be quite lucrative. Stories abound of people who find rarities in their penny jars or their pockets and who then turn around and sell them for thousands of dollars. These fun stories don’t happy to everyone of course, but it is possible to find a valuable coin in some unexpected places. Where are all the great rare coins? You will find quite a few different places that you will be able to find coins to add to a collection. Of course, some of these places are more reliable than others are. Let’s consider some of the best places to locate these coins so you can start your own collection.

Around the House

Chances are that you aren’t going to find a rare coin around your house, but you never know until you look. Start looking through the coin jars that you have, and any other little nooks and crannies where hidden coins might lie. Look for older coins and things that seem out of place. Once you find a few coins, you will be able to start looking them up on the web to see if they might have value.

At the Pawnshop or Garage Sale

Once you know a bit more about coins, you will likely want to take your search to other locations. One of those locations could be the local pawnshops. In many cases, the owners of the shops might not realize just how valuable some of the coins they have are going to be. You should check them out to see if they might have anything worth your while. You will strike out most times, but you never know what you might find.

Local Rare Coin Dealers

This is where most people start looking for the first rare coins they want to add to their collection. It’s natural to want to look inside a coin shop, and you should. However, you shouldn’t feel too much disappointment that the shop might not have the types of coins you want to buy.

Go Online for Your Rare Coin

Most coin collectors today are finding the coins they want to own on the web. It’s a fast and easy way to check the inventory of the shops that might have coins you want. You can place your orders online and over the phone, and it’s far easier than other methods of finding and starting a coin collection.