Collecting Silver Coins

As this recession gets worse and worse, many people are starting to feel the pinch, and many are noticing that stocks that they may have are starting to dwindle quite quickly. As a result, many people are looking at other ways to invest their money. Some are even just pulling their money out of their portfolios and putting them in the sock drawer, and while this may be a surefire way of not devaluing the money you have, it is also an invitation for someone to come in and take everything you have. Others are looking at investing in things other than the stock market, for example, some are putting their money into collections of rare and antique goods, at least until the worse of this financial crisis is over. One such collectible item that people are turning to is coin collecting, and in particular, collecting silver coins.

Silver has been around for a long long time. Well, technically, silver has been around for ever, but human beings have been using it as a form of currency and wealth for over four thousand years now, and it continues to be just as valuable now as it was back then. The first historical record of silver coins goes way back to an entry in the first book of the Christian bible. In Genesis 23:15 it says "My lord, listen to me; a piece of land worth four hundred shekels of silver, what is that between me and you? So bury your dead.". Silver coins are believed to have been the first type of currency that humans used, and although it is not used widely in currency anymore it is still held in just as high regard. The British pennies were made of silver all the way up to 1797, and US Dimes, Quarters and Half Dollars were 90% silver right up to 1964. Although silver coins are not manufactured for the general population anymore, silver itself is still used widely, and can be found in most of the electronic items we use everyday, from mobile phones to computers, there is a certain amount of silver being utilised.

There are two main reasons why silver coins are being collected these days; for investment, or just for the pure joy of collecting. Silver coins make a great investment, as they remain just as valuable today as they ever have. As stock prices go down and down, the value of silver remains steady. In fact, silver has done more than just remained steady, it's value has kept growing along with gold, making it a very secure investment. The price of silver has risen over 300% in just the last 10 years.

Some people are just born collectors. We all know someone who is incredibly passionate about their collection hobby, and people seem to collect some really strange things. From old bottles to old airplanes, there seems to be a collector out there for every item. If you have found yourself with the collectors itch, why not make it worthwhile and profitable at the same time by collecting silver coins? There is a whole community of people coin collectors out there, and many forums on the Internet that deal with just that, it is well worth doing a little research to see what knowledge is available out there,

Where To Buy Silver Coins

There are a few different ways that you can start to look at buying silver coins. If you look in most magazine publications, you will probably find a classifieds section or something similar, and there will usually be a category for coin collectors. Many people are willing to trade or sell items that they have as they continue their pursuit of that special coin. Silver coins are also auctioned off online at places like eBay, but I would be careful going down this road, as there are many people out there who will try and sell something that is really not that valuable, or worse still, just plain fake. The best place to start off is to find a local coin collector shop, if you look around you'll be amazed at just how many there are. Wherever you decide to purchase silver coins from, be certain that you are getting the real deal, get it checked by a professional if you are just starting out, and as your portfolio grows, you will begin to get a feel for what is legitimate and what is not.

Once you start getting a nice little collection of coins, you are going to want to invest in a couple of coin albums to store them. Coin albums are great, as they will usually have individual sleeves for each coin, with a space for you to note specifications for each coin, for example, where you bought it from, and what its value is. Coin albums will also protect your silver coins from the elements and keep them in mint condition for as long as possible. You may also want to keep a database of what coins you have collected so that you don't lose track of your collection.

What Makes A Silver Coin Valuable?

The silver coins that are of the highest value usually share one of four common traits..

• They are very old - old coins hold a lot more value than newer ones, and tend to be a lot more valuable
• Limited Editions - Quite often a mint will roll out a limited number of coins, these coins are worth more simply for the fact that there are less of them
• Errors in Printing - Sometimes the mint will make a mistake on a limited number of print runs. If you come across a silver coin with, say, a picture of an airplane upside down on it, it may be worth a bundle purely because of this flaw.
• Historical Value - Many times a run of coins are made to commemorate an historical event, for example, the passing of Princess Diana. These coins are bound to increase in value as the years go by.

Whatever your personal reason fro wanting to start a collection, you will find a great deal of satisfaction in doing so. You will make new friends that share your passion, and hopefully have a solid investment portfolio into the future, regardless of what the stock market does.