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How to Value Plain Silver Coins

Some people love collecting coins but are unsure of the value of their collection. The value of silver coins is highly dependent upon the collector or the investor. Rarity, grade, and demand are of importance to a collector. Popularity, quality, the quantity minted, and how many remain, are all of importance to an investor. Collectors purchase for their collections while investors purchase for resale purposes.

Things You'll Need

Silver coin
Independent grading service

Instructions

Coin Grading
- 1
  
  There is a scale for coin gradation.
  
  Identify the grade of the coin. Coin grading plays an important part in determining the value of a coin. Typically the rule is: the better the grade, the higher the value. Coins are usually graded on a zero to 70 scale that was created by Dr. William Shelby. He first devised the scale for his famous work, "Penny Whimsy." A great book that will be helpful for beginners is called the "Official A.N.A. Grading Standards for United States Coins" published by the ANA (American Numismatic Association). Most people can get within the ballpark of a coin's correct grade once they learn the scale.
- 2
  
  Coins in the Basal State are usually not worth much of anything.
  
  Match the numeric grade you believe your coin is with a letter code to form the grade. The highest grade of 70 is a rare find, and this is considered MS or Mint State. It is highly unlikely to find such a coin. More coins in the MS fall into the 60's. For example the typical, shiny, new penny from the store is MS-63. The next grade is AU-50, AU-55, and AU-58, or Almost Uncirculated, means there is a small trace of visible wear on the highest points. EF-40 and XF-45, or Extremely Fine, follows on the scale, meaning there is very light wear on only the highest points. VF-20, VF-25, VF-30, and VF-35 or Very Fine comes next on the scale, and it means that all major features are sharp with light to medium wear. Fine, F12 on the scale, has moderate to heavy, even, wear. The entire design is bold and clear. Then there is VG or Very Good, VG-8 on the Sheldon scale, expressing that the coin is well worn with a design, but it is flat and lacks detail. G, Good, is heavily worn with the design visible but faint in places. AG, or Almost Good, stands for an outlined design with parts of the date and legend being worn smoothly. Fair or F stands for being able to identify the coin as a type. The lowest grade is called the Basal State. This is for coins that are difficult to distinguish or do not really even look like coins.
- 3
  
  Coins can be certified, and this determines and proves a coin's value.
  
  Rare silver coins should be independently evaluated and certified for grade and authenticity by a trusted grading service. It is probably worth paying a small fee to get certification for your silver coins.

Coin Collecting