How to Tell if Your Silver Coins Are Valuable (2024)

FAQs

How to Tell if Your Silver Coins Are Valuable? ›

The weight of your coins is probably one of the most accurate ways to tell if your silver coins are valuable. Since the silver market is measured by weight, you can look at the current price of silver and use that to determine your coin's value based on how much your coins weigh.

The value of silver coins depends on factors like silver content and current spot price of silver. Junk silver coins have value due to their silver content despite the “junk” label. The worth of collectible silver coins is determined not only by silver content but also by rarity and demand among collectors.

Year and Mint Mark – The year and mint mark of a coin go a long way in determining value. There are many year/mint combinations of various coins that are either extremely popular with collectors or extremely rare (low population).

Another very simple method for testing silver is to determine the weight with a precision scale. For example an ounce of fine silver must not weigh significantly more or less than 31.1 grams. You can also use a digital caliper to determine the correct dimensions (thickness and diameter) of silver coins.

Coin Tester is the first app that uses artificial intelligence to verify the authenticity of 1-ounce gold and silver coins.

Their value depends on if your silver coins are junk or collectible. If you have silver coins then they will be worth money. How much they are worth is dependent on if they are junk or collectible. You can sell junk silver coins at most local coin dealers.

The value of a coin is based on its date & mintmark, its rarity, and its condition. Run an online search to identify what coin type you have, then contact a local coin dealer to assess your coin value.

Coins with mistakes, such as a double die or missing letters, can be worth significantly more than their regular counterparts. Another way is to look for specific years known to be scarce or have low mintage numbers. Collectors also value wheat pennies with a high level of detail and minimal wear.

What is the easiest test for silver? ›

The Magnet Test

"If your magnet sticks strongly to the piece, it has a ferromagnetic core and is not silver." Fake silver or silver-plated items are generally made of other metals. This is an easy test that can give you a good idea of whether your item is real silver.

Multiplying your collection's weight by the current price of silver will yield the total value of your junk silver. For example, if you have 71.5 troy ounces of silver, and the current spot price is 32 dollars, then your junk silver is worth (71.5 * 32) or $2288.

The Magnet Test

Since real silver is paramagnetic in nature, it won't be attracted to a magnet if it's legitimate.

CoinFacts (PCGS mobile app)

Many coin collectors say the first place to start for any coin collector or enthusiast is with PCGS — offering a variety of different coin-collecting apps for both iOS and Android. PCGS claims they're the industry standard for grading and valuing coins.

Silver is not magnetic, not even with the strongest magnet. However, silver is diamagnetic. If you hold a silver coin at 45 degrees a suitable magnet will slide down it slowly. This is because the moving magnet sets up an 'electrical field'* that slows its fall.

She says that true sterling silver jewelry is marked with a 925 stamp, showing that the piece is made with 92.5% pure sterling—"about as close as you can get to a pure metal as possible,” she says. The piece may also be stamped with the word “sterling” to show its value.

What year silver coins are valuable? Some of the most valuable silver coins based on year include Morgan silver dollars minted from 1878-1904, Mercury dimes from 1916-1945, and Walking Liberty half dollars minted from 1916-1947. Key dates from those series in pristine condition can be worth thousands.

1776-1976 S SILVER Eisenhower Dollar Value

According to the NGC Price Guide, as of September 2024, a Eisenhower Dollar from 1776-1976 S in circulated condition is worth between $9.50 and $10.75. However, on the open market 1776-1976 S SILVER Silver Dollars in pristine, uncirculated condition sell for as much as $7000.

To calculate the value of a silver dollar, you multiply its fine silver content by the current spot price for silver. A silver dollar contains 0.7735 troy ounces of pure silver, so at the time of writing a silver Dollar would be worth over $17 on metal value alone.