I guess its official now. Nobody really trusts fiat currency and gold and silver collecting has hit the mainstream. Be fair warned this is most likely a time when we will get a steep correction, or shakeout. Naturally it will correct through time and price but should soon continue to strength. So time your purchases, don’t do big size or price buys when the value is up. Don’t get married to your silver there may be a time when you need to sell it or there may not, remember it is a backstop in times of financial meltdown but it also will not be liquidated for the best value after you are dead, will your descendants know the real value of that error or rare gem? Make sure you have an exit plan and part of that plan is documenting your collection and acquiring additional information about the issues you collect.
Melt Silver is a good way to collect if you know how and what you are looking for. Coin is issued by the trading banks and the Reserve Bank to their customers in exchange for bank notes or cheques. From time to time the Reserve Bank, which holds the main stocks, advises the Treasury of estimated requirements and the Treasury, acting on behalf of the New Zealand Government, orders from the Royal Mint. From 1933 to 1946 all silver coin, and the 1949 crown, were composed of 50 per cent silver and 50 per cent alloy. From 1947 they have been of cupronickel; that is, 75 per cent copper and 25 per cent nickel. Copper coin (penny and halfpenny) which was first authorized in 1939 to replace the Imperial bronze coinage hitherto in use, and first issued in 1940, consists of 97 per cent copper, ½ per cent tin, and 2½ per cent zinc. The issue of cupro-nickel coins, which were given equal status with silver coin as legal tender under section 31 of the Finance Act 1947, followed similar action taken in the United Kingdom as a result of high prices for silver and increased minting charges.
The standard size and weight of New Zealand coins issued prior to the introduction of decimal coinage and the remedy allowance, that is, the allowed margin of error in weight, were as follows:
of Coin
Standard Weight (grains)
Remedy Allowance (grains)
Crown
1.525 inches Diameter
436.36363 Weight
2.000
Half-crown
1.272 inches Diameter
218.18181
1.216
Florin
1.126 inches
174.54545
0.997
Shilling
0.931 inches
87.27272
0.578
Sixpence
0.765 inches
43.63636
0.346
Threepence
0.642 inches
21.81818
0.212
Penny
30.8 mm.
145.83333
Not exceeding weight of one piece in 40 pieces.
Halfpenny
25.5 mm.
87.50000
Purchasing junk silver coins on Ebay or at your nearest coin shop is probably the simplest tactic to obtain these coins. The terms “face” is used when quoting you a price, this is a common expression when buying in a coin store. A silver coin like Kennedy Half Dollar worth .50 will then be called 15 times face. Face is the similar as face value and if you take 50 cents and multiply it with 15, you will have .50. Be conscious of the spot value and do not pay more than 15% premium over the spot value. Investigate the spot value before you make any deal, the spot value can be checked with a junk silver calculator and the premium will be determined.
Junk silver coins sellers are hugely present on Ebay and Trade Me. Silver coins that contains silver is referred as junk silver coins or junk silver, this is coins issued by national governments. There is no country today that mints coins that contains silver and is used for common circulation and exchange. However, countries like Canada, USA, Germany, Britain, France, Australia, New Zealand, Mexico and Italy have in specific periods all produced coins with silver matter for general circulation and exchange. Mercury Dimes, Walking Liberty Quarters, Kennedy Half Dollars and so on is examples of this in the USA.
As a silver investment these coins have become a great way. One of the advantages with junk silver is that they have small degrees of pure silver and is therefore significantly cheaper to purchase than full ounces of silver. Additionally, silver coins collecting gives yourself a considerable insurance through financial collapse – junk silver coins are handy because they are very effective means to barter with silver.
They are a great way to invest in silver but you should know a little about the different coins before buying them. This information below should help you also calculate Silver Dollar Coin Values and other Junk Silver Prices
Junk Silver Coin – Silver Content per ounce.
-Dimes Seated Liberty – 1837-1852 – 0.07726
-Seated Liberty – 1853-1873 – 0.07205
-Seated Liberty – 1873-1891 – 0.07234
-Barber Dime – 1892-1916 – 0.07234
-Mercury Dime – 1916 to 1945 -0.07234
-Roosevelt Dime – 1946-1964 – 0.07234
-Quarters Barber Quarters – 1892-1916 – 0.18084
-Standing Liberty Quarters – 1916-1930 – 0.18084
-Washington Quarters – 1932-1964 – 0.18084
-Half Dollars Barber Half Dollar – 1892-1915 – 0.36169
-Walking Liberty Half – 1916-1947 – 0.36169
-Franklin Half Dollar – 1948-1963 – 0.36169
-Kennedy Half Dollar – 1964 – 0.36169
-Kennedy Half Dollar – 1965-1969 – 0.14789
-Silver Dollars Trade Dollar – 1873-1885 – 0.78761
-Morgan Dollar – 1878-1921 – 0.77343
-Peace Dollar – 1921-1935 – 0.77343
To calculate the value of each coin get the current silver price in my home page and then multiply that by the silver content in each coin. So for example if the Silver Price is $25 then the value of a Morgan Silver Dollar is 25×0.77343=$15,47.
Remember that when you go and buy these coins the dealer may quote the price in terms of “face” (i.e. face values) in the above example he might quote you 12.3 times face. It is always handy to know the spot price of any coin before buying it so you know how much premium you are paying. For these kind of coins in small amounts it is not unreasonable to pay up to 20% and this premium will get less the more you buy.
Good Luck!
