Variety is the spice of life. It is for that reason that there are so many different types of restaurants, music, literature and more. While that is one of the reasons the United State Mint has produced so many different US gold coins, it is not the only.

That is not the only cause for the variety of US Gold Coin. Once upon a time America was nothing more than 13 colonies fighting for independence. It was during that time period when nearly any minted gold coin could be used for commerce. In circulation with the various European gold coins in use, there were actually gold coins that were minted for the wealthy using their own gold  for the currency. That changed with the Coinage Act of 1792; it was that law that helped established the United States Mint and put them in charge of regulating the variety of coins out there.

But wait, there is more. Since the creation of the federal authority on gold coin and currency, there have been dozens of people in charge. While some wanted to make their mark on the world by designing their own gold coins, others such as Mint Director, Robert W. Woolley, believed it was his legal responsibility to change the design of US Gold Coins that had existed for more than 25 years.

Here is another for reason for so many US Gold coin varieties. Gold coins were no longer to be used as legal tender thanks to the 1933's Executive Order 6102 that made it illegal to hoard gold as a response to the Great Depression. That made the previous gold coins no longer of use, making  US Gold Coins such as the Saint-Gaudens double eagle and a three-dollar piece a part of our nation’s history and another variety of US Gold Coin.

Now, it is a marketing plan that fuels the recent crop of  US Gold Coin options. While a gold investor may not necessarily care about the variety of US Gold Coin they have (as they buy gold thinking about purity and weight) coin collectors get excited every time a new US Gold Coin is struck. Numristics collect coins not just for the gold content, but for beauty, history and rarity; each new US Gold Coin may be of interest to them.

“Buyer beware” are not just words of wisdom from Mike Brady, but an important strategy for shoppers to implement regardless of the purchase in question. No matter if you are thinking about grocery shopping, buying or car or looking for silver coins for sale, the burden of protecting one’s investment falls directly onto the consumer.

Within the precious metal industry, there are plenty of silver coins for sale. Some are centuries old, others just rolled of mint lines weeks ago. Individuals trying to navigate the sea of silver coins for sale while trying to buy need to first figure out the goals surrounding their silver investment.

If you decide that you are looking for silver coins for sale as you are interested in numismatics then your needs will be very different than someone looking to diversify an investment strategy with precious metals. Coin collectors at silver coins for sale using a different perspective. That view often involves thought processes surrounding age, condition, history, number of coins minted, and even mint mistakes. When it comes time to look at silver coins for sale with intent of collection, silver content is not as an important consideration.

That perspective is very different of individuals looking for silver coins for sale for silver investment purposes. When it comes to buying silver for this goal, weight, purity and silver content are the most important features as the silver coins for sale are typically being sold at a cost per 1 oz silver, not for additional factors like ornamentation, detailing or a great story.

Once that decision has been made then the process of what silver coins to buy are easier. Collectors will simply make a decision on what must have pieces are worthy of their purchasing power while silver investors will more than likely focus on how many 1 oz silver bars they can afford at any particular time.

Regardless of why you are looking for silver coins for sales, relying on a reputable coin dealer is the smartest buying option. Once a silver shopper expresses what their goal is in regards to buying silver, a professional coin dealer can offer advice and tips in order to narrow down the selection process.

I’ve been thinking about diversifying my investment portfolio for sometime; according to my financial advisor and retirement planner, this is a good idea for everyone, but is especially recommended in times of fiscal and political insecurity on a national level and also on an international level. After doing some research, I’m thinking that I want to purchase some silver US coins. Specifically, I want to purchase some silver bullion United States coins that I can use as part of a silver individual retirement account (IRA).

In order for coins to be included in a silver IRA, they need to be silver bullion and they need to have been minted in the U.S. After doing some reading at the US Mint website – http://www.usmint.gov – it turns out that only the American Eagle Silver Bullion Coins are allowed in a silver IRA. These silver US coins – the American Eagle Silver Bullion Coins – “contain a minimum of one troy ounce of 99.9% pure silver.” 

(http://www.usmint.gov/mint_programs/american_eagles/index.cfm?action=american_eagle_silver)                                         

Now, I’ve also been thinking about buying some other silver US coins, as part of my overall investment strategy, not just for a silver IRA, and the U.S. Mint offers a collection called “American the Beautiful” which are five ounce silver US coins that commemorate national parks. According to the Mint’s website, “these coins are made of .999 fine silver, have a diameter of three inches and weigh five ounces.” That means they weigh more and have more silver than the American Eagle Silver Bullion coins!

(http://catalog.usmint.gov/webapp/wcs/stores/servlet/CategoryDisplay?langId=-1&storeId=10001&catalogId=10001&identifier=8305)

The Mint also produces silver commemorative coins in the form of silver dollars, and there are historic silver US coins, too, some of which are only valued for their melt value (how much silver they contain) and others that appeal to collectors because of historic value, rarity, and condition. And then there are the coins that are only 90% silver, such as the Peace Dollars, the Morgan Dollars, Washington Quarters, Roosevelt Dimes, and Jefferson Nickels.

Are silver US coins a good investment? I think so, especially if you keep in mind what kind of coins you are buying and why you are buying them in the first place. If you’re looking at diversifying your portfolio or starting a silver IRA, then the American Eagle Silver Bullion Coins are the way to go. If, on the other hand, you are looking to build a silver coin collection, there are plenty of silver US coins that can – and should – be included in that collection.

IMAGE SOURCES:

American Eagle Silver Bullion Coins images: http://www.usmint.gov/mint_programs/american_eagles/?action=american_eagle_silver_proof

America the Beautiful coin images: http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?catalogId=10001&storeId=10001&productId=16564&langId=-1&parent_category_rn=48501

Silver Jefferson Nickels images:
http://coins.silvercoinstoday.com/silver-jefferson-nickels/