#1 Silver Coins Buyer in Las Vegas
The silver coin is considered the most produced and mass-delivered type of coin. Selling silver coins is never a challenge if you know silver coin buyers that you can trust. If you sell your silver coins today at Nevada Coin Mart, you will have a free verbal appraisal and evaluation with no obligation to sell! Nevada Coin Mart uses an X-Ray Spectrometer that tells the exact amount of silver in your coin before it is weighed and paid according to its current spot price.
Silver Coins We Buy
- Mexican Silver Libertad
- Chinese Silver Panda
- American Silver Eagle
- Canadian Silver Maple Leaf
- Australian Silver Kookaburra
- Australian Silver Kangaroo
- British Silver Britannia
- Austrian Silver Vienna Philharmonic
- Russian George the Victorious
Background of Silver Coins
Silver coins were used since the time of the Greeks. Silver coins were made centuries ago as trade coins to keep the market going since silver was the main ingredient of coins before because of its availability.
Silver coins are traded according to their face value and content or purity. Their value depends on rarity, condition, demand, and the number initially minted for collectible coins. Always, buying and selling of these coins depend on the its current spot price in the market.
History of Silver in Coinage
The concept of coinage was conceived around 600 BC when stamping metal lumps became popular in early trading. In Lydia’s kingdom in Asia Minor, now known as Turkey, coins were made of electrum, a natural alloy of gold and silver and widely available in the territory. Greek coins, on the other hand, were made of silver. With the development of Lydian and Greek coinages, China developed its own using another metal known as bronze.
Since silver is widely available, the Greek coins were issued and accepted by many city-states.
In the United States, silver coins were the first everyday coins circulated to boost the economy. They were made as legal tender way back in 1789, and making fake of them was a crime that constitutes death. Silver coins were used for the first 175 years until 1965 when the Coinage Act of 1965 was enacted.
The Coinage Act of 1965 eliminated silver in US dimes and quarter dollars. It reduced the silver content of the half dollar from 90% to 40% because beginning 1959, there was an increase in silver for both coinage and industry, putting pressure on the price of silver. The effects of inflation caused silver to disappear from circulation by the 1960s quickly. In 1970, cupronickel coinage was manufactured and circulated by the US government.
Silver coins, like gold, are now widespread in commemorative souvenirs.