One of the most frequently asked questions at Cash for Gold USA seems to be “How and where should I sell my silver coins if I want to get the most money?” If you are asking the same question, you’ll find all the information you need in our ultimate guide.
Examples of Common Silver Coins
Certain silver coins are worth more than others, simply because of the amount of silver they contain. This isn’t the only aspect of a coin’s value; the higher the market demand for a particular coin, the more value it will hold.
In the United States, there are 3 types of silver coin that are both prevalent and popular:
- American silver eagle
- Morgan and Peace silver dollars minted between 1878 and 1935
- Half-dollars, quarters, and dimes minted in 1965 and before
American Eagle Coins
American silver eagle coins are in high demand by collectors and investors alike because they are the USA’s official silver bullion coin. Available in two versions—the proof silver eagle and the standard bullion coin—American silver eagle coins are legal tender.
Each version has a face value of $1, and both coins are guaranteed by the United States government to contain one troy ounce of silver.
Morgan and Peace
At 90% silver content, Morgan and Peace coins are also highly sought after and have high collectable value. These coins are bought and sold for above the silver spot price because they’re in demand among collectors.
Pre-1965 (Constitutional) Coins
Several coins fall under this category, and all of them contain 90% silver. Therefore, they have high value, whether in terms of silver price or precious metals. Also known as “junk silver,” these coins include:
- 1964 Kennedy half dollars
- 1964 and earlier Washington silver quarters
- 1964 and earlier Roosevelt silver dimes
- Franklin half dollars
- Walking Liberty half dollars
- Mercury silver dimes
Silver Coin Premiums
Currently, the premiums on the three main coin types above are at their highest. However, it’s important to understand that the premiums and prices of silver undergo daily fluctuations. Therefore, these prices and premiums may be different at the time you decide to sell your coins.
Organize Your Coins Before You Sell
If you have a silver coin collection you wish to sell, organizing coins according to their type, and then conducting a thorough inventory is strongly encouraged. Doing this will make it far easier for your coin dealer to appraise and evaluate your collection. When conducting your inventory, be sure to record the mint mark and year of each coin type.
As well, having your inventory in electronic form as a JPEG, PDF, Word doc, or spreadsheet will give your dealer the information they need to appraise your collection. It will also eliminate them needing to document everything before it can be appraised.
When it comes to the proper appraisal of your coin collection, condition will definitely matter. Therefore, we also recommend that coins be separated according to the condition they’re in.
While it’s true that the value of a coin may not always be affected by its condition, older silver coins like those from Morgan and Peace, along with any coins minted in 1892 and prior, will fetch lower values if their condition is fair or poor.
Identify Where Coins Were Minted
The mintage of a coin can definitely affect its value. Some coins are in higher demand and are rarer than others because smaller amounts of these coins were minted during certain years.
Nearly every coin will have a mint mark, which indicates the location of the mint that produced it. A total of six mints were responsible for the production of all the coins we’ve mentioned thus far. These are their names and marks:
Carson City – CC (no longer operational)
Denver – D
New Orleans – O (no longer operational)
Philadelphia – P
San Francisco – S
West Point – W
Identifying Premium Silver Coins
After you’ve organized your coins according to their mint location, condition, and type, what comes next? Figuring out which coins in your collection are premium. Remember that coins considered to be premium have a value that’s beyond that of their silver content, such as the Morgan and Peace coin.
Coins of older mintage, such as Seated Liberty and Trade silver dollars, are also of a higher premium, as are the Flowing Hair, Draped Bust, and Capped Bust coins.
Our Ultimate Guide to Rare Coins is a great resource if you want to be able to tell which of your coins may sell at premium. It’s also very useful to review before you make an appointment with any coin dealer.
Choosing the Right Coin Dealer for You
After taking the time to organize and inventory your coin collection, your next task will be to find the right coin dealer. Not only will this increase the chances that you’ll receive full value for your coins, but it will also ensure they are someone that can be trusted to be transparent, reputable, and honest.
One way to spot a reputable dealer is to search for their name and rating at the Better Business Bureau. You can conduct research into their experience and quality of customer service.
Why Work with Cash for Gold USA?
There are many coin buyers who will be happy to provide you with a payment for your old silver coins, which is why we strongly suggest doing your due diligence.
Cash for Gold USA maintains an A+ rating with the Better Business Bureau.
With decades of experience in buying and selling silver coins, jewelry, and much more, Cash for Gold USA has been rated by Top Consumer Reviews as the #1 cash for gold company since December 2022.
Our family-run business is dedicated to providing our clients with payments that exceed those of our competitors. It is because of the extensive experience at CJ environmental for precious materials refining that we are able to continuously achieve this goal.
A History of Successful Transactions
How Does It Work?
We have designed our process to make it easy to get full value for your silver coins. All you have to do is request your Appraisal Kit, and we will send it to you at no cost whatsoever.
Place your silver coins inside, seal and send your Appraisal Kit back to us. It will be carefully and thoroughly appraised by industry experts in just 24 hours using the latest methods and technologies.
Finally, we will send you our offer and, if accepted, your payment will be rushed to you by Paypal or check.
Cash for Gold USA Is North America’s Most Trusted Silver Buyer
Our customers place their trust in us because they know we are experienced and well-qualified to appraise all the silver they send us for its full value. Every Appraisal Kit is fully insured against loss and damage. If you choose not to accept our offer, we send your silver back, no questions asked.
Are you ready to sell silver coins online? We assume all of the risk and offer full value; request your free Appraisal Kit today!