Italy 500 Lire 1961

Yes, your coin is made of silver, Marty. That fact gives your coin intrinsic value, even though it is a fairly modern coin. The catalogs say that the coin contains 0.295 troy ounces of pure silver which, today, is selling at $22.50 US dollars per troy ounce. So the base value (BV) of your coin is 0.295 x $17.70 = $6.64.

The value of silver changes every day. Look it up at kitco.com and then compute BV using the formula above.

In addition to the base value, there are other more subjective factors such artistic beauty and sentimental value. Unlike standard collectible coins, there is no value from rarity. The same catalog says that 27+ million of these coins were minted.

worn: BV
average circulated: BV
well preserved: BV + $5 US dollars
fully uncirculated: BV + $10 US dollars

If you were to sell your coin to a collectibles dealer, he or she must make a profit to stay in business. Figuring that a coin like this would require a 100% markup, the dealer would probably pay between one-half to two-thirds of BV for it.
cqLastNotify

Coin: 1518, Genre: Central Europe North South, Timeline: Modern
Created (yyyymm): 200909, Last review: 201504
Appearance: Normal round coin Metallic gray Letters: Latin
Years: sort: 1961, filter: 1961 to 1961
Image: italy_500_lire_1961.jpg
Tags: hood rider bride twigs lire republicas hat prance trees reipvblicae dom equestres god sit republik headdress female seated deum twig diety sprigs woman galloping 4th deo limb womans italians equestrian buggy branch repub republique helmets italiana sitted deus horse ride chariot sitting mountie piller deity star repvbliqve seat starburst goddess sprays stool columns upright women sticks ladies repbulique helmit headband sprig sits repvblique dei branched fez pillar repvblica branches italiane fem hooded starrs itali republicans italian tree stick prancing caps ditalia horses italy stallion 500 pillars mounted ladys cap stars quadriga mount femal feminine divine bonnet horseman republicia horsehead republika riding pony stalk spray repvbblica branching republiek females republican reins italia devm rebublique rein helmeted dios horseback column elm womens burst helmet buggies godess lyre lady charioteer lira princess republ gods stalks republica republiove republic