Starting A Silver Coin Collection
Starting a silver coin collection is a great hobby that you will quickly find yourself addicted to. There are numerous different coins that can be collected so it is a good idea to pick something like silver coins to focus on when you are just getting started. This will prevent you from getting overwhelmed.
When most people think about silver coins they assume this includes all nickels, dimes, quarters, half dollars, and dollars. They are all silver in appearance so it is not hard to imagine why people would think of them in that regard. In reality, many of these coins are not really silver at all. In fact, most of the coins produced today do not contain any silver at all. Because of a critical silver shortage in 1965, Congress passed the Coinage Act of 1965, which authorized the removal of silver content from circulating coinage (except for the Kennedy half dollar) minted after December 31, 1964, replacing it with a clad composition of 75 percent copper and 25 percent nickel.
In order to determine the types of silver coins for your collection that are available you will need to do a little research first. Spend some time getting to know the different types of coins that are out there and then learn the details connected with each one. Understand the levels of grading that are associated with each coin to help you get a better understanding of the overall value that each coin has.
Different Types Of Silver Coins You Can Collect
Half dollars are great silver coins to collect. The United States Mint began producing this coin way back in 1794 which were then called the Flowing Hair Half Dollars. Several different varieties of the half dollar were minted between 1794 and 1964. During this time period these coins were made out of 90 percent silver.
Many people will find that collecting the earliest half dollars will not be an easy task. Coins from the 1700s and 1800s are likely to be pretty worn out which decreases their value. Even in this worn out condition old silver coins like this can still cost a small fortune.
Another popular silver coin to collect is the dollar. Just like the half dollar, production of the silver dollar began in 1794. There are a variety of different versions of the dollar and up until 1971 they were produced with a large amount of silver in them.
When the United States Mint began producing the Eisenhower Dollar in 1971 they stopped using silver as its key ingredient. There were a few years where the mint produced special versions of this dollar but they were limited in release and aimed specifically towards silver coin collectors.
