Silver coins have been a part of the U.S. currency system since the Colonial era.1 Back then, a range of coins, both domestically produced and from overseas, were in circulation.
There is a category of silver coins often referred to as “junk silver.”2 These coins do not hold collectible value. But it’s important to note that junk silver coins are not worthless. Their worth is determined by their face value or melt value.
If you possess silver coins you want to sell, we can provide a free professional appraisal and present you with a competitive offer. To request your complimentary, fully insured Appraisal Kit, please fill out the following form:
Understanding the Value of Silver Coins
As a coin seller, you aim to attain the highest possible payout based on the silver value and the demand associated with the coin’s condition, scarcity, and grade.
The value of silver coins can range quite significantly. At the very least, any silver coin will be worth its “melt value” — the market value of its silver content at any moment. However, other elements can augment the worth of a specific coin.
So, how can you determine the worth of your silver coins (or gold coins) without being a professional coin collector?
Factors Influencing the Worth of Your Silver Coins
Key factors influencing the worth of your silver coins include:
Silver Content: The higher the silver content compared to other metals, the more valuable the coin.
Mintage Number: This refers to the number of coins the mint produces, although this might not reflect the number of surviving coins.3
Existing Coin Number: This is the number of coins that still exist. Given the historical trend of melting down silver coins for their bullion value, some coin issues are scarcer than their mintage number indicates.
Unique Characteristics: Coins minted with errors often fetch significantly higher prices.
Physical Condition: What is the coin’s present condition? (Avoid cleaning old collectible coins, as this can reduce their market value.)
Buyer Demand: The number of collectors interested in the coins can influence their market price.
Coin Grade: Coin grading is a standardized method for determining a coin’s condition. It can be employed by both amateur and professional coin collectors. You can use grading scales like The American Numismatic Association’s (ANA) to research and compare your coin’s characteristics, flaws, and conditions.
Premium: Premium coins, like the Morgan and Peace silver dollars, hold a value beyond their silver content.
Identifying Where Coins Were Minted
The mintage of a coin can impact its value. Some coins are in higher demand and are rarer than others because fewer were minted in certain years.
Almost every coin will have a mint mark, indicating the location of the mint that produced it. A total of six mints were accountable for the production of all U.S. coins:4
- Carson City – CC (not operating)
- Denver – D
- New Orleans – O (not operating)
- Philadelphia – P
- San Francisco – S
- West Point – W
If you are unsure about the value of your silver collectibles and whether they hold any significant worth, it would be beneficial to consult a professional appraiser or coin dealer. We can assist you with this process. You are welcome to send your coins to us for evaluation. Our team of certified appraisers will assess your coins at no cost and provide you with an offer.
Common Silver Coins
Here is a list of just some of the common silver coins that Cash for Silver USA buys:
|
Common Silver Coins: Silver American Eagles5 Silver American Eagle Dollars Silver Australian Kookaburra6 Silver Australian Kangaroo7 Silver Austrian Vienna Philharmonic8 Silver British Britannia9 Silver Canadian Maple Leafs10 Silver Chinese Panda11 Silver Gibraltar Dogs12 Silver Isle of Man Cats Silver Mexican Libertad13 Silver New Zealand Kiwi Silver Russian Sable Silver U.S. Buffalo Nickels Silver U.S. Coins (Pre-1965) (90%) Silver Kennedy Half-Dollars (40%) Silver Vienna Philharmonics Silver Zambia Elephant We Pay Cash for Silver Bullion & Ingots .999 Fine Silver Bars such as Engelhard and Johnson Matthey or other Silver Ingots. |
More American Coins We Pay Cash for: 1942-1945 War Nickel 1916-1945 Mercury Dime 1946-1964 Roosevelt Dime 1932-1964 Washington Quarter 1916-1947 Walking Liberty Half Dollar 1948-1962 Franklin Half-Dollar Pre – 1964 Susan Anthony Dollars Pre – 1969 Presidential Dollars PR69 Pre – 1969 Sacagawea Dollars 1878-1921 Morgan Dollar 1921-1935 Peace Dollar 1971-1976 Ike Dollar (40%) 1976 Silver Bicentennials More Canadian Coins We 1920-1967 Canadian Dime 1967-1968 Canadian Dime (50%) 1920-1967 Canadian Quarter 1967-1968 Canadian Quarter (50%) 1920-1967 Canadian Half Dollar 1935-1967 Canadian Dollar |
If your coin is not listed above, don’t worry — we buy silver coins from every country.
How to Sell Silver Coins
When choosing to sell silver coins, you are presented with two primary alternatives. You can either sell silver coins online or sell your silver coins within your local community.
How to Sell Silver Coins “Near Me”
To find where to sell silver coins “near me,” search these terms: “places that buy silver coins,” “buyer of silver coins,” or “best place to sell silver coins near me.”
Find those businesses that buy silver coins in your area, and determine if you want to go drag your coins around the city to the local silver buyers. If you choose to sell to a local establishment, here are 7 steps about how to sell silver coins:
- Organize Your Silver Coins: Make sure to separate the coins by type, year, and mint mark. This organization will ensure a smoother selling process.
- Calculate Your Coins’ Value: Research the current price of silver and calculate the melt value of your coins based on the silver content. Remember that coins with rare dates, mint marks, and high grades might be worth much more than their melt value.
- Determine Which Coins to Sell: You can sell your entire collection at once or keep any coins with extra collectible value to sell separately. When making your decision, consider your financial goals and the current silver market.
- Consider Getting Coins Appraised: A knowledgeable coin dealer or professional grading service can help identify any particularly valuable coins and give you a realistic idea of the worth of your collection.
- Compare Multiple Offers: Contact multiple potential buyers and get quotes for your coins. Pay attention to factors such as reputation, professionalism, and the prices offered. You are not obliged to take the first offer you receive.
- Negotiate Your Price: Once you have the offers, negotiate for the best price for your coins. Highlight any key selling points like rare dates or mints, or exceptional conditions. Don’t hesitate to walk away if the offer doesn’t meet your expectations.
- Close the Sale: After agreeing on a price, complete any required paperwork and arrange for secure payment, delivery, or pickup of your coins. Always request a detailed receipt for your records.
You have to do so much when you choose to “sell silver coins near me.” Selling to a local silver coin buyer might not always be the best decision. Here’s why: Stores have overhead that the online buyers do not. Also, they will likely want to resell the coins, so they will have to lower your offer to make a profit they are comfortable with. When you compare multiple offers, include online buyers of silver coins, like Cash for Silver USA.
How to Sell Silver Coins Online to Cash for Silver USA
Remember how you searched for a local buyer of silver coins? Do the same for online buyers of silver coins. Search for these terms: “sell coins online for cash” or “sell silver coins online.”
When you find a trustworthy online buyer of silver coins, the process to sell silver coins online should be a simple one like this:
- Request a free Appraisal Kit.
- Send your valuables in (no need to sort or clean).
- Accept or decline your cash offer.
Where to Sell Silver Coins
Naturally, anyone would want to sell silver coins if they have value. However, selling them to a reliable and knowledgeable buyer is important.
The positive aspect is that numerous options for selling your silver coins are available. However, it’s important to note that not all these options are equally beneficial.
Local Coin Dealers, Pawn Shops, or Jewelry Stores
An easy way to sell your aged silver coins is to approach a local pawn shop or jewelry store, as these businesses are typically interested in purchasing such valuables. But, these establishments might not offer you an amount that reflects the market value of your coins.
Multiple reasons contribute to this, the main one being the necessity to balance the costs associated with operating a physical store, including rent, utilities, insurance, and security. Unless the business specifically deals with coins, their offers are often inadequate.
Additionally, difficulties may arise if your silver coins are in a deteriorated state. Many dealers might decline to propose an offer on damaged or otherwise defective coins.
Sell Silver Coins Online
Using an online buyer like Cash For Silver USA enhances the probability of receiving the payment you’re entitled to, with minimal effort required. Advantages of selling silver coins online include:
- Larger Payouts: Online buyers typically provide larger payouts as their business expenses are fewer, permitting them to dispense more money without impacting their profits.
- Free Appraisals: Online buyers, especially those specializing in valuable metals, are more likely to offer free, current appraisals than pawn shops that often rely on outdated market data.
- Quick Cash: One key advantage of dealing with an online coin buyer is the speed of the transaction. An offer is often made within 24 hours of your silver coins’ receipt.
- Access to More Dealers: Online trading also broadens the selection of dealers you can access. Online buyers can be located virtually anywhere. Physical stores restrict you to a specific geographic area.
- Greater Opportunities: Also, online dealers frequently accept coins that jewelry shops commonly reject, such as those with severe damage, thus giving you expanded selling options.
- Simple Process: Selling to an online buyer is remarkably convenient. The entire transaction can be conducted from the comfort of your home, eliminating the need for travel or time spent in traffic.
Cash For Silver USA is the perfect buyer for your silver coins. So far, we have assisted thousands of customers and disbursed millions of dollars. We also deal in gold, platinum, and palladium valuables.
Sources:
1. Federal Reserve Bank of Philadelphia – Money in Colonial Times, https://www.philadelphiafed.org/education/money-in-colonial-times. Retrieved March 18, 2024
2. Wikipedia – Silver as an investment, https://en.wikipedia.org/wiki/Silver_as_an_investment. Retrieved March 18, 2024
3. American Numismatic Association – Mintmarks on U.S. Coins, https://blog.money.org/coin-collecting/mintmarks-on-united-states-coins. Retrieved March 18, 2024
4. Wikipedia – United States Mint, https://en.wikipedia.org/wiki/United_States_Mint. Retrieved March 18, 2024
5. Wikipedia – American Silver Eagle, https://en.wikipedia.org/wiki/American_Silver_Eagle. Retrieved Jan. 12, 2024
6. Wikipedia – Australian Silver Kookaburra, https://en.wikipedia.org/wiki/Australian_Silver_Kookaburra. Retrieved March 18, 2024
7. Wikipedia – Australian Silver Kangaroo, https://en.wikipedia.org/wiki/Australian_Silver_Kangaroo. Retrieved March 18, 2024
8. Wikipedia – Vienna Philharmonic (coin), https://en.wikipedia.org/wiki/Vienna_Philharmonic_(coin). Retrieved March 18, 2024
9. Wikipedia – Britannia (coin), https://en.wikipedia.org/wiki/Britannia_(coin). Retrieved March 18, 2024
10. Wikipedia – Canadian Silver Maple Leaf, https://en.wikipedia.org/wiki/Canadian_Silver_Maple_Leaf. Retrieved March 18, 2024
11. Wikipedia – Chinese Silver Panda, https://en.wikipedia.org/wiki/Chinese_Silver_Panda. Retrieved March 18, 2024
12. Gibraltar National Mint — The Royals (Dogs), https://www.gibraltarnationalmint.gov.gi/the-royals-dogs-silver-5.html. Retrieved March 18, 2024
13. Wikipedia — Libertad (coin), https://en.wikipedia.org/wiki/Libertad_(coin). Retrieved March 18, 2024
ABOUT CASH FOR SILVER USA
Cash for Silver USA is a prominent online buyer of silver, gold, platinum, and palladium in the United States. Since 2005, we have paid tens of millions to tens thousands of customers for their unwanted or broken precious metal jewelry. We offer a quick and straightforward selling process, ensuring customers receive prompt and competitive offers for their items. Learn more about us or request your free Appraisal Kit now: