Silver coins say "$5 dollars" (or other values) because they are government-issued legal tender, meaning they're official currency, even if their metal content is worth much more, like the U.S. Silver Eagles or older 90% silver coins (quarters, dimes, half dollars) that had higher face values historically but now trade for their silver weight plus premium. The face value makes them currency, while the silver content makes them valuable for investors, with some countries like Australia also issuing commemorative $5 silver coins.
Specific issues are not rare at all; millions were minted and have survived, while some dates are incredibly scarce. A classic rare coin is the 1909-O Indian Head $5 gold piece, which had a mintage of only 34,000. Very few have survived, making it worth far more than common-date coins in typical condition.
The $5.00 coin struck by the Royal Australian Mint is not usually a part of circulating currency and is mainly minted for commemorative reasons and can take form in many shapes, with coins like the Triangular ANZAC series and AC/DC coins saw the $5.00 in a triangular shape.
Rarity and errors also impact a silver dollar's value. Older coins, such as those from the 1700s, tend to be rarer. A prime example is the 1804 dollar—of which only 15 exist, none minted in 1804. They were actually struck in 1835 and 1858 for diplomatic gifts and collectors, making them extremely rare and valuable.
Based on auction records, here are some of the most valuable silver dollars.
The rare Australian coin that sells for around $60,000 (or more, depending on condition) is the 1930 Australian Penny, an accidentally minted coin from the Great Depression era with a very low mintage, making it a "numismatic superstar" sought by collectors for its rarity and historical significance. Its value comes from being the lowest mintage pre-decimal Australian coin, with only about 1,500 believed to exist in circulation, notes 9News.com.au and Network Ten.
A 1980 Australian $200 Koala gold coin is worth significantly more than its face value, primarily based on its gold content (10g of 22ct gold) and current gold price, but also with some numismatic value, often trading in the range of AU$1,500 to over AU$2,000 depending on the market, condition (proof vs. uncirculated), and dealer, as it contains about 0.295 troy ounces of pure gold.
$5 Liberty Half Eagles
This coin exists in two distinct types, both highly valued by collectors and numismatists: the rare "No Motto" version (struck from 1839 to 1865) and the "With Motto" version (minted from 1866 to 1908).
To celebrate the opening of the Parliament House on 9th May 1988 the Royal Australian Mint struck Australia's first $5 coin. The reverse of this aluminium/bronze uncirculated coin features the outstanding architectural achievement of the new Parliament House designed by Mitchell/Giurgola and Thorp.
While the revenue generated from gold bars and silver coins is notable, Costco's foray into precious metals is about more than sales. It's a strategic move to strengthen its relationship with customers, particularly those who view gold and silver as long-term investments.
How to Tell If a Coin Is Silver
The calculation to obtain the silver value of your 90% silver dimes, quarters and half dollars is as follows:
The 50-cent coin that can be worth around $15,000 is the rare 1988 Australian 50c error coin, mistakenly struck with the standard Coat of Arms instead of the commemorative First Fleet design, with only a couple known, though more might be found; it's a "mule" error from the Royal Australian Mint, making it extremely valuable to collectors.
With a history spanning over 800 years, there are many rare and collectible Halfpenny coins. Even some of the most recent United Kingdom decimal coins are sought-after by numismatics or coin collectors, and can now sell for around £100. More historical Halfpenny coins have sold for well over £300.
Yes, many rare coins are worth over $1 million, with top examples like the 1933 Double Eagle (up to $18.9M), the 1794 Flowing Hair Dollar (up to $10M), and the 1787 Brasher Doubloon (over $9M) holding records, often due to extreme scarcity, unique errors, or historical significance, including some novelty gold coins like the giant Canadian Maple Leaf and rare U.S. patterns.
For Australian coin collecting, focus on low mintage, error coins, and historically significant pieces like the legendary 1930 Penny, the silver 1966 Round 50c, unique error dollars (like the 2000 Mule Dollar) and special commemoratives such as the 2012 Red Poppy $2 and 2022 Platinum Jubilee 50c, as these offer significant collector value beyond face value.
The Flowing Hair Dollar sold for $10 million at auction in 2013 to set a new world record for the highest price ever paid for a rare coin, CNN reported.
A 1964 Australian Penny is generally worth a small amount, around $1 to $5 for circulated coins, but its value increases significantly with condition, with uncirculated examples (especially those from Perth with rare varieties or errors) fetching from tens to thousands of dollars, depending on grade and features like red color (RD) or doubled dies, so condition and mint mark are key.
The Rarest and Most Valuable Silver Dollars
Look for a Silver or Copper Stripe
If your Ike dollar has an “S” mint mark on the obverse, it is silver clad, or 40% silver. You can also check the edge of the coin for a silver stripe. If you find one, you most likely have a 40% silver, or silver clad Eisenhower dollar.