Why collect silver coins?
Collecting Silver Coins – Then & Now
Coin collecting is something man has done since the Lydians invented currency back around 640 BC. This is not just about hoarding money for its own benefit. The collectability also comes from the intrinsic beauty of the design, and the rarity of the coins. Also the metal they are made from. Some gold coins, silver coins, and even ancient Chinese iron coins, have a value way above their worth in metal. Coins made of base metals like iron coins or zinc are good examples.
We can find coin collectors worldwide – along with coin dealers. World coins are big business – with coins trading on a daily basis.
Professional organizations grade coins to ensure consistency. Bullion coins are particularly sought after and no coin collection is complete without a smattering of these. Silver dollar coins, particularly Morgan silver dollars, are prized as collector’s items, especially in the United States.
We know the study of silver coins and their alloys, their appearance, their patina – or luster – and their rarity, as “numismatics.”
Numismatics – The basics
The Merriam-Webster dictionary defines numismatics as “the study or collection of coins, tokens, and paper money and sometimes related objects (such as medals)”
Merriam-Webster goes on to say “Sometimes called “the hobby of kings,” numismatics is not the act of hoarding cash. It is about appreciating the history and craftsmanship involved in the creation of coins and bills. Numismatics might collect copper pennies, for example (pennies are no longer 100% copper), or money printed during the Civil War when the South had its own currency. The hobby requires knowledge of rare metals, minting processes, and, of course, history.”
It further says “People who enjoy numismatics often have rare coins that can be quite valuable. But not all numismatics fans have to have money to keep collections. Using a fun site such as wheresgeorge.com, which lets people track the paths of dollar bills (using the bills’ unique serial numbers), is free and can help people develop an appreciation for the more creative aspects of money.”
Silver coin collecting can be addictive. We know entire websites and forums devoted to all aspects of collecting. You can find hundreds of books written on the subject across every language and type of currency.
One fascinating book that we would highly recommend for anyone starting out on this numismatic adventure is titled “Fiat paper money – The history and evolution of our money.” Written by Ralph T Foster, who was a coin dealer in San Francisco. This book traces the history of currency across times and cultures. From China in 1024 A.D. through Venice in 1298, Sweden in 1644, France in 1720, the United States in 1779, and Europe throughout the 1920s. It explains what money is – and what it is not.
Coining it in
The key to numismatics is the disconnect between the worth of the physical metal in front of you, in terms of materials, and it’s worth as a collector’s item.
Why collect silver coins in today’s world is imperative?
Collecting American silver eagles, Canadian maple leafs, or other types of bullion coins? Collecting comes down to the money you can spend on your hobby. It also depends on the prices, and finding good dealers.
Buying and selling are key ingredients in collecting coins. You should learn how to research and gain knowledge about the history and the opportunities out there. This will build wealth and profit from your free time – and will pay big dividends.
Over the next few weeks, through this blog, we hope to introduce you to the world of numismatics. We will show you ways in which you can develop your newly found hobby into something absorbing and satisfying.
You will discover silver eagles, St Gaudens, US coins in general, and other useful, well-researched knowledge here.
Historic Silver Coins hope to be a big part of your numismatic journey going forward.
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The Morgan Silver Dollar is an essential part of American History. The first was released in 1878 and became an immediate success. We have sourced 3 different versions of this iconic coin. These will be an investment as well as a family heirloom for generations to come.
Morgan Silver Dollar
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