Our Experts Debate Diversification with Silver Coins

Silver coins are very popular with coin collecting enthusiasts, as well as the seasoned investor. With the recent spikes in silver, beginners are starting to heavily diversify into silver coins. Our experts take a look at the strategy that makes the most sense, regardless if you are a beginner or a seasoned professional.

There are many different types of silver coins one can diversify into. Which coins you choose will depend on your personal tastes as well as the reasons for collecting or diversifying. It is a good idea to study the various silver coins available and their specifications before you buy.

Some popular silver coins for diversification include:

The American Silver Eagle
The Australian Silver Kookaburra
Australian Silver Kangaroo
Australian Chinese Lunar Calendar Series
British Silver Britannia
Canadian Silver Maple Leaf, and the
Chinese Silver Panda

All the aforementioned silver coins are pure silver, refined to 99 percent or better. Our experts suggest purchasing proof coins rather than uncirculated, since proof coins retain their mint condition whereas uncirculated can possibly have scuffs and other marks on the coins.

Proof sets usually come packaged in a special plastic case to protect the surface of the coins. This protection should not be removed as it ensures the quality of the coin is unchanged and also serves as an authentication if the time ever comes to sell the coin.

Further, our experts advise clients to steer clear of the early nickels and dimes that contain silver. The silver content is usually never more than 40 percent and is not considered collector coins.

Lastly, our experts are always appraising silver coins or silver collections. There are dealers who will buy your silver coins, but our experts always provide caution here. They advise to never sell your silver to a pawn shop, or other small dealer as there exists too much risk for the seller. If you decide to sell, always read their terms and conditions before you sell to any dealer. There are a few companies that will purchase coins unseen. You would either have to send the coin in or, at least, provide a decent photo of both sides of the coin, including any original packaging if you have it. Always get a quote from two or more dealers. You might be surprised how they differ.

Collecting silver coins can be a fascinating, as well as a profitable pastime provided one follows some sensible rules. It is also a brilliant way to diversify your portfolio, provided you do your homework and build a relationship with a reputable advisor.