Last Updated : 08 December 2011 at 08:30 IST
'Best way to convert junk silver into bullion'
To successful convert junk silver coins into bullion, one has to use a calculator first so they can know how much bullion they will receive once the silver is converted at a refinery. The calculator usually has specific types of junk silver such as a Kennedy half-dollar or a Washington Quarter where it assesses the value of the silver coin.
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Junk silver is a name given to any piece of silver based on its condition. The particular condition of the coin must be deemed fair or rough. Junk silver usually offers no real value to a collector of silver coins exceeding the bullion value. This is what makes old silver coins collectors convert the silver into bullion. Commonly collected forms of junk silver include mercury dimes and Roosevelt dimes. In general collectors and investors sell the silver coins via a coin dealer, through a site such as Craigslist or eBay, or through classifieds as this allows for them to reap the benefits from the silver coins.
To successful convert junk silver coins into bullion, one has to use a calculator first so they can know how much bullion they will receive once the silver is converted at a refinery. The calculator usually has specific types of junk silver such as a Kennedy half-dollar or a Washington Quarter where it assesses the value of the silver coin. From there, one would enter the number of coins into the calculator and hit the calculate button.
The calculator will then show the gross value associated with the junk silver noting how much bullion one will get if converted. There is always room for error in this process, as with any process, yet it is the most efficient way of converting your coins. Many refineries provide the varying percentages as to how much they will pay for your junk silver. The amounts they pay range depending on whether the particular refinery considers the silver pure. Junk silver coins are typically positioned in bags when they are converted into bullion or when they are sold to private collectors or dealers.
Silver has emerged as one of the more popular forms of investing in precious metals. Although, not as popular as gold, silver, is steadily rising in popularity due to its aesthetic value and appeal to collectors and investors. Silver produces some of the best returns in bull markets. Silver is often pricier than gold because of this. Silver has more uses than its gold, palladium or platinum counterparts. When investing in silver coins, the investors have three distinct options to choose from ranging from Ben Franklin quarters to Walking Liberty half dollars. Some coins carry large premiums, which is often the case with half-dollar coins.
Premiums on these particular coins fluctuate due to the demand of silver in the marketplace. Silver coins bags typically yield 715 ounces of silver when they are refined. Many collectors opt not to convert them into bullion due to their little value. Junk silver coins are usually coins that were in print prior to 1965. Silver is considered and known as money in many worldly languages. Silver offer a certain appeal to collectors seeking enduring pieces. Conversion from coins to bullion using a calculator is simple, if that is what is desired by the investor or collector.
Source: Ezine Articles
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