Your silver might be worth more than you think it possesses. Even though it was prevalently used during the earlier civilization as their medium of currency, it has been later degraded in terms of its use and practicability. Its contemporary function has been limited and categorized as a material used for electrical components, medical applications, and even in other non-currency related uses.
However recently with the recent economic recession, the value of dollar has been found to be very volatile and is highly to depreciate on the coming years. Thus, it would no longer be practicable to keep your cash in your bank account, as it is no longer considered to be a wise investment. Thus, it is greatly recommended to also invest his portfolio on diverse industries so that it would provide them with lesser risk should a specific industry would fail. It is true to €never place all your eggs in one basket€.
Contrary to popular belief, silver is now being considered to be a wise form of investment as the worth of silver nowadays is very favorable. In fact, the value of silver appreciates yearly thus more and more people have sought to invest in silver.
One might ask then, how much is the worth of silver now? On an average, the silver's dollar value is set at USD 22.99. This is based on the 1880 Morgan silver applying the principle of conservatism. But to be realistic, given the following requisites and conditions, the typical value of silver would range between $35.00 to $55,000.00 given that it is in its €perfect€ condition.
Factors to Determine Silver Dollar Value:
€ Is it uncirculated?
If the said silver is in its Mint State, the dollar value of specifically the 1880 Morgan silver is categorized under €Uncirculated€. This means that its condition is in its brand new state since the process involved in minting leaves that fresh luster onto the coin's surface thus bearing its quality condition.
€ Check the mintmarks
Mintmarks are those, which are located on the coin's reverse side. If it is minted in San Francisco, it has a mark €S€, if in New Orleans, €O€ and €CC€ if it is Carson City mint. These marks do affect the worth of your silver.
€ Is it extremely fine?
If your silver is in this condition, it means that your silver is a bit showing some signs of wear. Even though the condition of this coin is still clear and hard, some slight yet noticeable flaws can be observed which would affect its dollar value.
€ Is it fine?
This means that the condition of the coin especially its detail is already losing its crisp feature. Moreover, the sign of wear is already clear and visible yet the original details of the coin are still intact and clear.
€ Is it good?
A €good€ condition coin means that it is able to survive extreme deterioration or wearing away. The original detailed feature of the silver coin is no longer present yet the major design is still visible.
Indeed, silver nowadays is a growing demandable commodity. Know your silver and its worth by being well aware of its intricate and visible features.