Silver coins have been used pretty much since the discovery of silver. Silver coins, the earliest versions known today come from a place called Efesos, an ancient trading city off the coast of Asia Minor. Early silver coins were made up from from electrum, a natural occurring alloy of gold and silver. The origins of early silver coins can be traced back to Lydia. Silver coins have come a long way from their electrum prototypes. Today’s silver coins are designed to perfection, displaying a high luster and shine and made from the finest silver on Earth. Perfectly refined to a .999 quality.
Almost every country and location through out the world has used silver in some form of a coin. Compared to today’s modern currency structure, silver value was a real physical asset. Not based off of a promise that gold or silver would back a basically worthless currency.
Although most silver coins are absolutely beautiful there are some disadvantages to silver coins. For one they are heavy, imagine carrying 100 silver dollars in your pocket to go out on a date and buy dinner with. Then maybe use the remaining 60 silver dollars in your pocket to go see a movie and put some gas in your car. The practical use of a silver coin is not that great compared to paper bills.
Another disadvantage is silver will tarnish and get ugly if not taken care of properly. Coins, silver or other wise tend to wear fairly easily. While they are not great for every day use, silver coins are a wonderful item to collect, store and trade for paper bills when needed.
Silver Coins and their advantages
Silver coins have many advantages above just looking pretty. Silver value tends to rise and fall with economic times. If you own a 90% silver dollar and it has a face value of a dollar, the value of that silver coin will never be below face value but it can always rise above that. Through out the last hundred years, there have been times when the silver spot price of a silver coin has reached well over $20. This was a fantastic opportunity for investors to cash in on their silver coin supplies. You will never own a dollar bill that you can resell for $20. Unless of course it is a very rare bill, but the odds of that are not very high.
Silver coins vs silver bullion
Silver bullion is pure silver placed in to a mold to create a silver coin or bar. While not recognized by the United States government as a legitimate form of currency, bullion bars hold their weight in metal content. Predetermined molds or casts create the silver bullion item, you can find silver bullion coins from a 10th of an ounce all the way up to 20 troy ounces. Silver bullion rises and falls with the market. A few advantages silver coins have over bullion is that they have a face value, recognized in our current monetary system. Meaning that you can buy and sell in open markets with them, where taking a silver bullion bar to the grocery store will leave you walking out with nothing.
Silver coins have a collector value. Based on the year, minting location and other factors such as errors and condition. A silver coin can be worth hundreds of times the face value to a collector. Bullion is bullion, where each silver coin is unique.