Tuesday, January 11, 2011

Silver Investing - Buddy, Can You Spare A (Silver) Dime?

If you have read my article on Mercury Dimes, you know this is one of my favorite 90% silver coins. Officially known as the Winged Liberty Head dime, this U. S. silver coin was minted from 1916 through 1945 by the Denver, Philadelphia and San Francisco mints.

The Mercury Dime contains .0715 troy ounces of silver. With spot silver at $29.71 at the time of this post, the silver in that lowly dime is worth $2.12. In 1980 with silver at around $50 per ounce, a 90% silver dime was worth $3.57. No wonder some gas station operators were selling a gallon of gas for a silver dime. Could those days be in our future?

With silver again knocking at the $30 door plus the high premiums being charged for popular silver bullion coins, don't overlook investing in some of these affordable silver coins. They could come in handy for you someday. Before I leave the Mercury Dime discussion, let me say that some of these dimes are worth a lot more than others due to their scarcity. By far, the most valuable Mercury dime is the 1916D. So if you inherited some old coins, look for this dime and you could be several hundred dollars richer.

So far in January, 2011 the U.S. Mint reports producing 3,357,000 Silver American Eagles. The 1,696,000 Silver Eagles they reported on January 3rd certainly weren't produced in January but rather December. If this was done to keep the Silver Eagles totals down for 2010, it couldn't have been more obvious.

Thanks for reading.

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