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1 Oz Silver Value

Quality and Grade

Some people may be interested in collecting silver coins as a hobby, while still others may use it as an investment which is a hedge against inflation. Whatever be the reason, you need to know 1 oz of silver value in order to pay the correct amount for coins or bars, without getting cheated. The 1 oz silver value will depend on the type of coins, its purity, quality and grade, as also the spot price of silver in the trading market on that day.

Collectible Coins

Silver coins are not absolutely pure and may have a purity level ranging from 90% and above. For instance, US silver dollars in the form of dimes, quarters and half dollars which were minted during the 1960s and before will have a purity of 90%, which means that you need to multiply 90% of the weight by the spot price of silver for a troy ounce in order to get the real value as well as calculate the 1 oz silver value. In case of the American Silver Eagle coins of silver, which is bullion produced by the US Mint, the purity is of 99.9%. There is also a markup or premium placed above the spot price and this premium will depend on the condition and rarity of the coin. A coin that is very rare and is in mint condition will have a higher premium, which may even exceed its silver value.

Junk Silver

Even non collectible silver coins, which have no particular mint marks or authenticated dates on it, known as junk silver, command some premium, which may be a smaller one. Many people may be having old silver coins, such as nickels, half dollars and dimes minted by the US government. If these coins belong to the 1940s, they usually contain about only 35% of silver. They have a certain face value and the 1 troy oz silver value in this case is not much above the face value. If the condition is good and it is uncirculated, then their worth is a little more.

It is important to know the difference between the different coins, as many of them may look similar but might vary in value by many hundreds or even thousands of dollars. You must first know that coins have a monetary value such as cents, nickels, dollars and half dollars, whereas bullion is silver in the form of coins or bars with no face value imprinted on it. They may look like coins but you cannot spend it like money, as the value can change according to the 1 oz silver value at any given point of time.

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