90% Silver Dimes

There are two popular ways to collect silver coins: as proofs from a mint and as circulated coins with heritage.  For beginners to the coin collecting game, one of the most popular ways to get into the silver coin collecting market is through silver dimes.  Here at Coin Blogger, we know that 90% silver dimes are popular, so we thought we’d explore them a little bit.

Up until about 1964, most coins in the United States were minted from silver.  Most of thm were minted as 90% silver and 10% alloy (usually copper).  The most well-known of the 90% silver dimes that are collected are the Roosevelt and the Mercury coins.

Mercury silver dimes were minted from 1916 to 1945 and are a 90% silver.  Proofs were made until 1942 and then only circulated versions were made due to the war.  In 1946, the Mint then changed the design and minted the Roosevelt silver dimes, shortly after the President’s death.  It is, by the way, the Roosevelt 90% silver dimes that gave the March of Dimes its name.  Roosevelt, being a polio victim, worked hard to get the foundation into the mainstream.

Until 1964, the Roosevelt 90% silver dimes were made of 90:10 silver:copper.  That then changed in 1964-5 to become copper clad in copper-nickel.  New all-silver collector sets became available from the Mint in 1992.

The most popular, low-cost, and fun way to find silver coins is to buy bulk bags of circulated silver coins, which are usually sold by weight.  The coins have little collectible value and are sold mostly as silver alloy.  Many new collectors like to sort through the coins from the bag, however, to hunt for rare gems or to create bags of only dimes, only quarters, and so forth.  This is probably the best way for a newbie on a low budget to get started with silver dimes.

1885 Morgan Silver Dollars

Probably the most well-known silver dollar is the Morgan.  We here at Coin Blogger know that many of our readers are both newcomers to the coin game and collectors.  Today, we want to talk about not just the Morgan Dollar, but the 1885 Morgan Silver Dollars that are available for your collection.  These are definitely one of the more popular collector coins in the USA.

The Morgan Dollar got its name from George T. Morgan who designed the coins and were minted from 1878 to 1904 and then again in 1921.  One of the more commonly circulated and very collectible years of that production series is the 1885 Morgan Dollar.  It is also one of the most counterfeited of the Morgan dollar coins.

The Morgan Dollar came about after the Comstock Lode in Nevada flooded the market with low-cost silver.  Prices were on the rise again as the popular Morgan Dollar was introduced, but the demand for the coin kept it going.  The 1885 Morgan Silver Dollars were one of the largest runs in the series and were some of the first to be seriously collected by aficionados, which is why it’s more available today than some other years of the Morgan.

In fact, most 1885 Morgan Dollar coins are averaging MS-63 and 64 grades, making them very collectible.  A few 1885 Morgan Silver Dollars can be had at MS 67 and 68 grades, but at a much higher premium.   One MS-67 1885 Morgan Dollar sold for $10,500 in 2003.

Most proof 64 1885 Morgan Silver Dollars are selling for about $2,000 on average.  They become available regularly and many coin shops carry Morgan Dollar coins for sale, though MS-graded coins are not so often available.

Dollar Silver Certificate

The US Dollar Silver Certificate was issued in response to anger from many Americans that were against the United States’ currency being placed on the gold standard. This was done with the Coinage Act of 1873.

In response from the many Americans with interest in silver and silver mining, the US Mint stated producing silver certificates in 1878 and continued to do so until 1964. These certificates were redeemable for their face value in silver coins. In 1934 congress passed a law that permitted the silver certificate to be exchange for either silver coins or silver bullion. Once a certificate was redeemed for its silver value it had to be destroyed, because of the lack of silver being produced and received by the US Treasury Department.

By the 1960’s the worth of these silver certificates rose to $1.29 because of the increased value of silver. Americans started to turn in their silver certificates for silver bullion which in turn depleted the US reserve of silver. In March of 1964, the exchange of silver certificates to silver coins was ceased and in June of 1968 all redemption of silver for a silver certificate came to an end.

Today there are still silver certificates in $1, $2, $5, and $10 denominations in circulation, but most are snagged up by collectors when seen. The main difference in these notes are that the seal on the right side of the note is in blue and the bottom of the note are the words “in silver payable to the bearer by demand” also at the top is the words Silver Certificate rather than the standard Federal Reserve Note.

For many whom are into coin collecting, a Dollar Silver Certificate is still considered a part of their coin collection due to its uniqueness and rarity. But that has not helped to increase their value which at today’s auctions is still only $2.

Franklin Mint Coins

Do not confuse Franklin Mint Coins with those that were produced by the US Mint. It is true that these coins are crafted extremely well, when it comes to coin collecting, but their value is generally around the melt value of the metal used to mint them. The saving grace with these collectable coins is the value they posses if you find the right buyer that just have to have them.

For those of you that are into coin collecting a few facts should be made known. The US Mint strikes its silver coins from 99.9% pure silver bullion. The Franklin Mint uses sterling silver. This sterling silver is only 92.5% pure silver. The remainder is generally made up of copper, but other alloys have been known to be used including geranium, zinc and platinum. The minimum millesimal fineness of sterling silver should be 925.

When making a purchase of a US mint coin from the Franklin Mint, collectors might wish to check prices so they do not over pay. As an example the 2010 silver eagle from the US Mint is being offered at $25.95. This same coin from the Franklin Mint is $75, but comes in a nice wooden box and a certificate of authenticity.

The Franklin Mint does have a great selection and is a place where coin collectors can find coins that are already sold out by the US Mint, but they should not be the first choice for those coins still in production.

There are a few sites that specialize in the reselling of Franklin Mint Coins, but the price is dependent upon the demand. One fact is for sure, these coins are of a high quality workmanship.

2010 Gold Panda Coins

The 2010 Gold Panda Coins are now on sale. The denominations are the same since the change in 2001. These are 20, 50, 100, 200, and 500 Yuan. These represent 1/20^th ounce, 1/10^th ounce, ¼ ounce, ½ ounce, and the one ounce, respectively. Just like the American gold Buffalo, this coin is 99.99% pure gold. There are plans to have limited editions of these gold Panda Coins that are larger and in the shape of pucks. These will be in 5 ounce and 1 kilo weights.

As most golden panda coin followers know, the depiction of the pandas on the coin change every year. This year is the 28^th design and there are two pandas playing and rolling around.

These coins are a legal tender in China and are worth more than the gold from which they are produced. With the price of an ounce of gold presently over $1,100 an ounce, these coins are expensive for coin collecting. That has not diminished their popularity, though.

The current specifications of the one ounce coins are 31.103 grams with a diameter of 32.05 mm and a thickness of 2.70 mm. The gold content is guaranteed by the Chinese government to be 1 troy ounce.

The planned minting amounts of the panda coins for the year 2010 are as follows:

200 of the 1 kilo, 1000 of the 5 ounce, 300,000 of the 1 ounce, 120,000 of the ½ ounce, 120,000 of the ¼ ounce, 120,000 of the 1/10^th ounce, and 120,000 of the 1/20^th ounce.

For those that love the 2010 Gold Panda Coins, look around before you make your purchase. There are sites selling them for $1995 while others as low as $1395.

America the Beautiful Silver Bullion Coins

Even with the shortage of silver bullion blanks, the US mint will start producing the America the Beautiful silver bullion coins in 2010. This new quarter will have 56 different coins in all. This will showcase the American National Parks and other American National sites.

The first five coins of this set for coin collecting will have depictions of Hot Springs National Park in Arkansas, Yellowstone National Park in Wyoming, Yosemite National Park in California, the Grand Canyon National Park in Arizona, and Mount Hood National Park in Oregon on the tail side. The face side will have a restored version of George Washington from the 1932 John Flanagan portrait.

The Proof Silver coin itself will be made of 0.999 fine silver. The diameter will be 3 inches and each will weigh about 5 ounces. There will be an America the Beautiful Quarters Proof Set, America the Beautiful Quarters Silver Proof Set, 100-coin America the Beautiful Quarters Bag, and America the Beautiful Quarters Two-Roll Sets.

The first quarters to go on sale will be the Hot springs National Park that is scheduled for an April release. The Proof Set will become available in May. The Silver Proof Set will be available in May or June. The Yellow Stone Quarter will be released in June. Yosemite should be available in July or August. The Grand Canyon is scheduled for a September release, and Mount Hood is listed for a November release date.

To date, the US Mint still claim there is a shortage of silver bullion blanks so the mandated law of producing the Silver Eagle might be ignored for another year so the America the Beautiful silver bullion coins can be produced.

2010 Silver Eagles

The 2010 Silver Eagles coins will be available in two different forms. There is the American Eagle Silver Proof coins and the American Eagle Silver uncirculated coins. This is mandated by Public law 99-61 that requires the US Mint to produce these coins in sufficient quantities to fill the need and demand of the American public.

Unfortunately, the popularity of the Silver Eagle coins has overwhelmed the ability of the US Mint and the availability of silver bullion blanks. This was the reason there were no 2009 Silver Eagle coins produced of any version, proofs or uncirculated. The last Silver Eagle coins that were produced and available for purchase were part of the 2008 United States Mint Annual Uncirculated Dollar Coin Set that is priced at $37.95. The official web page for this product claims orders for this set will no longer be accepted after August 7, 2008, but they are still listed as being available. This is the only way to purchase a Silver Eagle coin. Both the individual proofs and uncirculated coins are being listed as sold out.

Since the US Mint has already broken the law that mandates them to produce this coin in 2009, they might do the same for 2010. The US Mint claims they will start producing these coins as soon as sufficient silver bullion blanks are accumulated to meet the current demand for all three Silver Eagle coin products.

For those into coin collecting, this could mean there might not be any again this year. I wonder how the mint is judging what the demand is if they are not offering any 2010 Silver Eagles for sale. Once again, too much bureaucracy when it comes to dealing with the US Government.

Boy Scouts of America Centennial Silver Dollar

The Boy Scouts of America Centennial Silver Dollar is being produced in 2010 by the US Mint to commemorate the 100 years of the BSA. The public law that authorizes the production of this coin is 110-363.

The final coin design was approved on September 16, 2009 by the Secretary of the Treasurer Timothy F. Geithner. The depiction on the head of the coin is the upper torso of a Cub Scout in front followed by a Venturer and then a Boy Scout, all saluting. To the left side is the years it is commemorating 1910 to 2010. Encircling the figures on the edge is a message about Scouting, “Continuing the Journey” on top and “God We Trust and Liberty” on the bottom.

The tail side of the coin is of the Boy Scouts of America’s universally known emblem with the Eagle with a star below each wing. The top is inscribed with United States of America, with Boy Scouts of America just below it. The bottom is the numerical value of the coin which is One Dollar, with ”Be Prepared” to the left side and “E. Pluribus Unum” to the right side.

For coin collecting, this commemorative coin will be issued in mint proofs and uncirculated versions that will become available in 2010 for the US Mint. The coin itself will be 90% pure silver and 10% copper.  The total of all types and versions of this coin are limited to 350,000 minting.

All surcharges that the mint receives from the sales of this coin will be distributed to the different Boy Scout councils across America by the National Boy Scouts of America Foundation.

The announcement of the Boy Scouts of America Centennial Silver Dollar was posted on the US Mint web site on December 17, 2009. This coin will not be available for the anniversary date on February 8, 2010, but will become available in March of 2010 if the current schedule is kept.

Dateless Buffalo Nickels

The many dateless Buffalo Nickels are the result of a poor design of the coin. The date was placed on the raised portion of the shoulder of the Indian. Because this placement is on an exposed part of the coin, the date simply got worn off from constant handling during circulation.

The first series of buffalo nickels also had this problem but it was the word “five cents” that wore off. The source of this problem was that the value was placed on a raised area just below the bison on the tail side of the coin. This was seen and corrected within the first year of its minting by the chief engraver Charles E. Barber. But there was an oversight and the date was not corrected to prevent the same problematic wear.

 The dateless nickels were mostly made before 1926. The minting of the buffalo nickel began in 1913 and ended in 1938. Most of these coins were removed from circulation in the 1950’s and 1960’s. It is said that 1 in 25,000 nickels in circulation today is still a buffalo nickel.

For coin collecting purposes, the dateless buffalo coin is not worth more than 5 to 20 cents, because of the condition of the coins. If you own a dateless nickel, an experiment can be done to verify if what you have is an authentic dateless buffalo coin. By placing a drop of ferric chloride or other weak acid on the dated area, the date may be revealed. In many coin collecting stores it goes by the trade name of “Nic-a-Date”. After this is used, most coin collectors consider the coin valueless because of the modification that was done to the coin.

But if you own dateless Buffalo Nickels, the choice is yours. The difference between 5 cents and no cents is not enough to worry about.

Gold Coin Investing Tips

The best gold coin investing tips are to know what you are doing and know the source from where you are making your purchases.

Knowing what you are doing takes time and knowledge on the subject. Most Gold coins are not pure gold, except for the American Gold Buffalo which is purely 24K gold. The rest like the Gold Panda from China, the American Gold Eagle Coin, and the Krugerrand are all 22K gold. There is still a difference between these in which most 22K gold coins have a mixture of the metals silver and copper. The Krugerrand only has cooper in it. This gives the coin a distinctive color no other gold coin has. It is true that each of these 22K gold coins do contain 1 troy ounce of 22K gold. This makes each of these coins weigh more than a troy ounce because of the alloys added to it. If the coin you are looking at weighs exactly 1 troy ounce, it better be a Buffalo or it could be a fake.

The reason most gold coins have silver and copper is to help it be durable for coin collecting. Gold is a very soft metal and the edges and detail of the coin will be lost if handled too much.

When it comes to the grade of your coin, know the major players. This includes the ANACS, NCG, PCGS NCS, and ICG. If an alternative grading is given, be suspicious of it.

If the price of the gold coin is near the price of gold bullion, it probably is not that rare or is in poor condition. The value of these coins will fluctuate with the price of gold bullion. A rare gold coin will hold its value above the price of gold on the open market.

Coins with a grade MS-62 and higher are the best ones for investment. These will hold their value over time and is just one of the better gold coin investing tips I can give.