The Definitive Guide on Where to Sell Silver Coins

The Definitive Guide on Where to Sell Silver Coins
The value of a silver coin depends upon many factors, the top being when and where the coin was minted. When trying to figure out where to sell silver coins, it’s essential to know the value of your pieces. There is a market for whichever kinds of silver coins you have, and the best place to sell is where your coinage inspires heightened interest.

If you have commemorative coins, such as a Statue of Liberty Anniversary coin, be aware that they are oftentimes made with non-precious metals. You can determine whether your commemorative coins contain silver by reading the accompanying documents. If, on the other hand, you have a coin that doesn’t include paperwork, inspect the coin for an indication of the purity of the coin or round. Oftentimes coins that are pure silver, such as American silver eagles and Canadian silver maple leafs, include a stamp indicating the purity or weight of the coin. The percentage of silver content in your coins is the type of information you need to become familiar with, going into the selling process.

Rare Coin Auction

If you have a rare silver coin collection, you may choose to sell at a rare coin auction, possibly as a way of widening the audience of potential buyers. Two large auction houses that sell rare coins are Heritage Auctions and Stack’s and Bowers. Participating in a coin auction is costly, however. The fees tied to selling coins at an auction can cut into your profits significantly.

Coin Shows

Many coin dealers attend conventions at various locations across the U.S. At these gatherings, which range from small to very large, there will usually be at least a couple of dealers who have an interest in a particular type of coin. As to the question of whether a coin show is where to sell silver coins, it’s a toss-up. These events, especially local or small regional shows, are oftentimes focused on dealer-to-dealer transactions.

Coin Dealers

If you decide to sell your silver coins to a coin dealer, there are a few things to know which will help to ensure that you are selling to someone reputable who can reasonably be trusted to deal fairly with you:

•The dealer should evaluate the individual coins, taking rarity, mintage, and coin condition into consideration. If a buyer makes you an offer for your collection without inspecting the coins separately, it is safe to say that the dealer lacks ethics or expertise in silver coins. It would be best to take your business elsewhere.

•Coin buyers who are members of the Professional Numismatists Guild (PNG) or the American Numismatic Association (ANA) have shown a commitment to furthering their knowledge in the industry and to be bound by strict ethical stands established by the respective organizations. Such coin dealers are also typically well established with a proven track record, which means that they are interested in establishing repeat customers and are therefore motivated to offer fair deals.

Other possible options of where to sell silver coins include jewelry stores, pawn shops, antique stores and “We Buy Gold” stores; but they do not typically offer the most competitive prices. This is especially the case if you have old or rare coins that may be worth substantially more than the precious metals value of the coins. Atlanta Gold & Coin Buyers