Thursday, 4 June 2015

What are the Procedures for Determining How Much Silver is in a Silver Dollar

Silver coins are always considered to be a prized possession. This asset is valuable, and depending on it rarity, condition and various other parameters, it can be a good means to make some quick bucks. When it comes to determining the value of your silver coin, here are some procedures that can help you ascertain the quantity of silver in the coin.

First and the foremost thing to do in this regard is to determine the melt value of your coin. Using numismatic scale or coin scale as it is commonly know, can help you determine the exact weight of silver coin.

Once you are done weighing and scaling your coin on numismatic scale, research about the prevalent silver prices in the market. As silver is a traded commodity, its prices can vary sharply from one moment to another. When its about determining how much silver is in a silver dollar, major business media websites can help you with the exact prices.

Another way of discovering the value of silver dollar, is to look for the year in which the coin was minted. There are variety of US silver coins that range from most common to least valuable in general. The varieties of silver dollar include Bust dollars, Seated Liberty dollars, Morgan silver dollars and Peace dollars.

The last step of determining how much silver is in a silver dollar, is to ascertain the condition and market value of the coin. Examining the coin carefully while using a guide available on net, will easily help you determine the exact value of your silver coins accurately.

After you have followed the steps given above, all that’s left for you is to verify the prices with latest updated price guide for silver coins. Once you have the final value of silver dollar in your possession, go to a few coin dealers and get the best possible price. A few extra dollars in wallet is always fun! Isn’t it?

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