What Should You Do with Your Old Silver Dollar Coins?

Silver dollars are an excellent way of building up a silver coin collection.

Old silver dollars have been increasing in value very well over the past ten years.

In fact, the general increase in value is something like 20 percent and can be much more in some cases.

Some rare silver dollar coins, such as the 1804 silver dollar for example, are worth literally millions.

Early American Eagles are sure to increase in value and are currently an easy buy. Common dated Morgan silver dollars in BU (Brilliant Uncirculated) condition can sell for less than $30 but, again, these are likely to increase as time wears on as they are no longer produced and more collectors demand to have their own.

It is always a good idea to buy the best quality coins you can afford. This means buying Proof quality or Brilliant Uncirculated coins.

Not long ago, in Dallas Texas, a very rare Nineteenth Century silver dollar, previously owned by a legendary banker known as the "King of Coins," was purchased for $3.3 million at auction. The coin is one of only five 1885-dated Trade Dollars made by the United States Mint. The anonymous buyer was a financial services executive and sophisticated art collector who is putting together one of the finest coin collections in the country.

The record price for a rare coin is $7.59 million paid by an anonymous bidder in 2002 for a 1933 Double Eagle $20 denomination US gold coin.

So, it can be possible that one day you might find an old coin worth millions, and when you do, you will be on cloud nine.

Remember, "Take care of your money and your money will take care of you."

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