Are There Best Coins for Investment?
Well, yes and no. It all depends on your budget. If you have millions and money is no object (no pun intended) there are several coins that are definitely the best coins to invest in. We have selected five as examples.
U.S. Silver Eagle Dollar - The U.S. mint began producing these one ounce coins in 1986. They are .999 percent pure silver, and are the only coins whose weight, content and purity is guaranteed by the United States government. Uncirculated (see below) 1986 Eagles sell for about seven dollars above the price of silver (called spot) which at this writing is right at $45 an ounce. An Eagle proof coin (see page 2) will go for about $52 from the mint. From dealers some are selling as high as $111.
Canadian Silver Maple Leafs - With much of the same type pedigree as the Eagle, the Maple Leaf offers a bit more. For one, it is .9999 pure silver, and numismatists consider it one of the finest examples of the engravers craft. It also has been produced in fewer numbers since its introduction in 1988. Still, it is selling for just around three dollars over spot.
Morgan Silver Dollars - These dollars were minted from 1878 to 1921 at five different U.S. mints, including Carson City (see below), Denver and San Francisco. They were designed by George T Morgan, and his initials appear near Lady Liberty’s neck. Overall, the Morgan’s are valued at about $160, but at least one has sold for $66,000.
Dahlonega Gold Pieces - In 1837, gold was discovered about 100 miles north of a town then called Marthasville - it’s called Atlanta now. The town near where the gold was discovered was Dahlonega, GA. It was a rich find. So rich the U.S. decided to establish a mint in Dahlonega to produce gold coins from the gold mined there. From 1838 until the beginning of the Civil War in 1861, the Dahlonega mint produced four types of gold coins: the $5 half Eagle, the $1 coin, the $2.50 quarter eagle and a $3 coin. All Dahlonega coins were stamped with a ‘D’ mint mark (the D belongs to the Denver mint now). An 1861 Half Eagle recently sold for $207,000. Another D coin went for $57,500. Note the D coins are the only gold coins in our ‘money is no object’ selections That’s because gold’s inflated price now skews the prices of other gold coins beyond their normal numismatistic value. The D coins however are so popular their numismatistic value exceeds their gold value.
Carson City Mint Coins - In 1859 two prospectors just outside Virginia City, NV hit it rich. They found gold. But another miner named Henry Comstock insisted their claim was on his property, and convinced them to let him join the partnership. As they mined the gold, they had to slog through some awful blue gray mud that slowed production. Comstock had the mud tested. It turned out to be silver ore. He had been slogging through the first and biggest silver find in U.S. history. It became known as the Comstock Lode. As it had done in Dahlonega, the U.S. Mint eventually built a mint nearby, 15 miles down the road in Carson City, NV in 1870. Note this is the beginning of that short period of history often referred to as ‘the wild west.’ That is part of the reason CC coins are so popular. Collectors are owning a part of one of the most exciting times in our history. The CC mint produced five types of silver coins: a dime, a 20 cent piece (the most sought after), quarters, half dollars and silver dollars. It also produced some gold coins but these do not have the numismatistic value of the silver ones. It is estimated fewer than 20 of the 20 cent coins exist today. An 1876 20 cent piece recently sold at auction for almost $300,000.