Tuesday, April 23, 2013

Should I Buy Silver Dollar Coins?

My love of silver dollar coins started when I was little: when I’d lose a tooth, the tooth fairy would bring me a silver dollar. And that’s where my collection of silver dollar coins began. Now I’m older and the tooth fairy doesn’t bring me coins any more – of course, I’m not losing teeth, either, so maybe that’s a good thing. But I’ve been thinking about that childhood passion and wondering: should I buy silver dollar coins? And if I should, why?

I started my research at Wikipedia (http://en.wikipedia.org/wiki/Dollar_coin_(United_States)) learning about the history of silver dollar coins. And I did learn a lot, but what I gathered was that it’s only the old silver dollars that are worth any money, and then that’s basically for collectors, who are looking at the rarity of the coin and the condition, not really the silver in the coin, itself. So part of the answer to my question about buying silver dollar coins is that it depends on why I’m buying them.

Next I went to Silver Coins Today (http://www.silvercoinstoday.com) and read about the current silver dollar coins being minted in the U.S. In 2012, the U.S. Mint produced two types of silver dollars for collectors: the Star-Spangled Banner Silver Dollars and the Infantry Soldier Silver Dollars. Also, the Mint produces four silver dollar coins each year that have four different presidents on them. All of these are sought by coin collectors, which helps me to answer the issue of whether I should buy silver dollar coins with the conclusion that if I’m interested in building-up a collection, then I definitely should.

Also at Silver Coins Today, I was able to research some of the silver dollar coins that I’d received as a child, including the Peace Dollars and the Morgan Dollars. Those, apparently, are worth some money to collectors, which is good to know, should I ever decide to part with them.

I think that I am going to add to my collection of silver dollar coins, because I like the idea of having a collection that spans my lifetime; and should I ever need to sell them, there are collectors avidly seeking at least some of what I already own. 

So my conclusion to the question of should I buy silver dollar coins is an unqualified yes. Now I just need to decide which ones I will buy and how many I will purchase. I’m going to have fun doing more research and gradually building-up my silver dollar coins collection.

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