WikiCoins:What You Need To Know Before You Start Selling Silver Coins

Silver coins are valuable in today’s market not only because of the intrinsic value of silver, but also because many silver coins being sold and collected today are collectibles, which means that they are hard to find and they have historical relevance and value. The mass production of silver coins can be traced back to ancient times. Greeks used them to trade goods, particularly the silver drachmas. Persians also used silver coins as a form of currency during their peak.

Today, selling silver coins is one of the fastest ways to earn money. Silver historically has been viewed as money and is currently one of the most sought after precious metals in the market. Essentially, silver coins come in four varieties and it is important to know what these are if you plan on selling silver coins in the future.

High Value Collector’s Items

Numismatic silver coins are produced and sold primarily for coin collectors. They come in limited quantity and are often produced for commemorative reasons, such as a famous personality’s anniversary, an important event, etc. Silver bullion coins are great for beginners because they are relatively inexpensive to invest in, especially when compared to gold. Semi-key date silver coins are also valuable because of their precious metal content, and while they contain some collectible value, they typically are bought and sold for less than key date coins. Finally, junk silver is a common term for silver that has no collectible value; rather, junk silver coins are primarily bought and sold for their silver content. 90% dimes, quarters, and half dollars minted in 1964 and earlier are commonly referred to as junk silver coins.

Rare Silver Coins

If you are planning on selling silver coins, it’s important to identify what type of coins you have available in your collection. Are they valuable enough to fetch a higher price in the market? Many coin dealers and collectors prefer silver coins that are of limited edition and that contain rare dates and mint marks. For example, selling silver coins that predate 1916 and that are in high end condition are typically more valuable than coins produced after 1916. Silver coins such as US dimes, quarters and half dollars minted before 1965 are 90% silver. Knowing the current spot price of silver will allow you to estimate the silver value of each type of silver coin that you have available. Once you’ve grouped your silver coins into numismatic and bullion, or non-numismatic coins, you can proceed to your local coin dealer to sell your silver coins. Of course, with local coin shops, expect to sell your coins at wholesale rates or below retail value, as coin dealers are a business and need to produce reasonable returns to stay in business. Numismatic periodicals are also a great way to find a buyer once you start selling silver coins. Auctions and coin shows are other avenues that you may want to explore to make the most out of your investment when you begin selling silver coins. Even online coin dealer sites are great ways to find a buyer. As with all other avenues, you have to be cautious. While many of the aforementioned options provide the opportunity for a quick payout, it’s important that you do your due diligence and only conduct business with trustworthy and reputable businesses. Atlanta Gold and Coin Buyers Selling Silver Coins