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Types of Silver Coins

We price and buy silver coins using two main categories: fine silver coins and circulating coins. We have separate silver coin price tables on this page which you can use to determine the approximate value of what you have to sell. A third group of silver coins are commemorative coins, such as those issued for the 1976 Olympics in Montreal. These coins typically have silver contents similar to circulating coins and we buy them the same way – by weight.

Fine Silver Coins

Fine Silver coins and rounds are typically 99.9% pure silver which is also written as .999 silver. Some coins like the Royal Canadian Mint Silver Maple Leafs are four 9s or 99.99% pure silver.

The primary difference between silver coins and rounds is that coins are made by government owned or controlled Mints whereas rounds are made by refiners or privately held mints. Coins have a face value and are legal tender in their country of origin, although the value of silver in the coins is far greater than their face value.

We purchase most Fine Silver coins at a price per coin. In some cases, where a coin is damaged, heavily discoloured, or otherwise not ready for resale we will purchase it as melt silver.

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RCM Silver Maple Leaf

Asahi Silver Round

US Mint Silver Eagle

Perth Mint Koala

Circulating Silver Coins

The use of silver for trade dates back thousands of years, with ancient civilizations like the Lydians, Greeks, and Romans minting silver coins for trade and commerce. Silver’s unique combination of rarity, durability, and ease of divisibility made it an ideal metal for crafting coins, and its intrinsic value has stood the test of time. Throughout history, countries around the world have minted circulating silver coins to facilitate transactions, with designs that often represent the culture, history, and values of their issuing nations.

Popular examples of circulating silver coins include the U.S. dimes, quarters, half dollars, and dollars minted between 1796 and 1964, which contain 90% silver. In everyday life, these coins played a significant role in commerce and were used for transactions ranging from small purchases, like groceries and household items, to larger transactions like land or property.

Other well-known silver coins include the British pre-1947 silver coins like the Half-Crown (1920-1946) and the Florin (1920-1946), which contained 50% silver. These coins were widely used in the United Kingdom and its colonies, facilitating trade and commerce throughout the British Empire.

Canadian circulating silver coins, such as the dimes, quarters, half dollars, and dollars minted between 1920 and 1967 contained 80% silver. Earlier coins, starting in 1858 were made with 92.5% silver. These coins were an integral part of daily life in Canada, used for a variety of transactions from buying a cup of coffee to paying for public transportation.

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These coins were once used for daily transactions but have since been replaced by modern base metal coins which are more cost-effective coinage materials. Today, many circulating silver coins are recycled for their intrinsic silver content. They are also collected for their historical significance and for the glimpse they offer into the economic and social aspects of everyday life during their time of circulation.

Commemorative Silver Coins

Many coins are made every year, by both government Mints as well as refineries and private mints, to celebrate events, anniversaries, places, and groups. These coins vary a lot in their design and purpose however they generally all contain silver.

The coins are bought by collectors, group members, tourists, as gifts and as mementos. After their value as a keepsake or a piece of art have diminished their silver value remains.

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How to Tell if a Coin is Silver

Determining if a coin contains silver can be done through a combination of methods. Here are some common ways to identify silver coins:

1. Date and Mint Mark: Research the specific coin and find out which years and mint marks are associated with silver content. For example, U.S. dimes, quarters, half dollars, and dollars minted before 1965 contain 90% silver. Knowing the history and specifications of the coin in question can help you determine if it contains silver.
2. Sound Test: Silver coins produce a distinctive, high-pitched ringing sound when gently struck or dropped on a hard surface. This is often referred to as the “silver ring” or “ping” test. Be cautious not to damage the coin while performing this test.
3. Magnet Test: Silver is non-magnetic, so it will not be attracted to a magnet. If a coin sticks to a magnet, it is likely made of a different metal or alloy. Keep in mind that some non-silver coins may also be non-magnetic, so this test should be used in conjunction with other methods.
4. Weight and Dimensions: Genuine silver coins have specific weight and dimensions based on their denomination, design, and minting specifications. By comparing the weight and dimensions of a coin to the known specifications, you can help determine if it is made of silver. A digital scale and calipers can be useful tools for this purpose.
5. Tarnish and Patina: Silver coins often develop a gray or black tarnish (also known as toning or patina) over time due to exposure to sulfur compounds in the air. While the presence of tarnish can be an indicator of silver content, it is not a definitive test, as some other metals can also tarnish.
6. Acid Test: A silver acid test involves applying a small amount of acid specifically formulated to test silver content on the coin’s surface. If the coin is silver, the acid will not react or will produce a specific color reaction. This test can be accurate but may cause damage to the coin’s surface and should only be used as a last resort or on coins with low numismatic value.
7. Professional Appraisal: If you are unsure about a coin’s silver content, consult a reputable coin dealer or numismatic expert. They can often provide an accurate assessment of a coin’s composition, as well as information on its rarity and value.

It is important to remember that no single test is foolproof, and combining several methods will provide a more accurate assessment of whether a coin contains silver. Always exercise caution and care when handling coins, and consider seeking expert advice for valuable or rare specimens.

All of the prices on the Circulating Silver Coins table are PER GRAM of gross weight.