Silver coin value is determined by four factors, rarity, grade, quality and popularity.
Rare coins have the highest value of course due to their rarity. The rarity can be due to the limited number of coins struck by the mint and or the number of coins available or in circulation.
In the US silver coins have often been melted down on governmental order for the silver content resulting in an increase value in the remaining coins. Morgan silver coins are an example of this.
The grade or condition of a silver coin also affects it’s value. Proof sets are special coins that have been struck to a higher quality than uncirculated and have a greater value therefore. Brilliant uncirculated are worth more than circulated coins and circulated coins generally have a very low value unless they are extremely rare and sought after.
The closer the coin is to a perfect uncirculated coin the better the value. Silver coins should have a certificate from an independent grading service such as PCGS (Professional Coin Grading Service) or NGC (Numismatic Guarantee Corporation). Certificated coins protect both buyers and sellers from counterfeit and fake coins.
The quality of a coin is important too. Some coins are considered more beautiful than others and although aesthetic appeal is very much a matter for individual taste, there seems to be a common agreement as to what is beautiful among coin collectors.
Some of the most popular silver coins are the traditional one troy ounce silver dollar, the American Silver eagle or the Canadian Maple Leaf for example due to the beauty of the coins.
Important also is the quality of the coin, how well it is minted and presented. Also the date the coin was minted can have a big bearing on the price.
Price is always a vital factor. How much can one afford. Unlike gold coins, silver coins are quite affordable and one can start a collection off with just a small funding.
Other factors that may have a bearing on silver coin values are:
Silver content in the coinBrowsing the dealers and finding out what coins to buy is part of the fun of being a coin collector.
Amount of coins struck by the mint
Aesthetic appeal of the coin
Value of silver as a precious metal
The more one browses and learns about the various types of coins and the four factors of determining the silver coin value, the more satisfaction one will get out of coin collecting.