Selling silver coins can be profitable, depending on when you sell your silver coin collection and which silver coins your collection contains. Some silver coins are more valuable than others, and the condition of your silver coins will be a factor in the price that you get for them.
When selling silver coins you have several options. The first is to visit a coin dealer, but remember that the coin dealer needs to make a profit when he is the one selling silver coins. This means that you will not get the retail price for your silver coin collection. You can sell your silver coins online through eBay or Overstock coin auctions, but it will take more time and effort than if you sell them to a dealer.
Selling Silver Coins – Valuation
Visiting a coin dealer or coin show can often be the most accurate way to determine the purchase price you can expect to get when selling silver coins. Having your silver coin graded by one of these professionals also will confirm both the authenticity and grade of your coin, which will make other collectors more likely to purchase if you decide to try and sell on eBay or another similar website.
Also note that a set of silver coins from the same series, such as a group of silver half dollars or dimes, will sell for a much higher price than separately. When selling silver coins, then it is important to do so strategically.
Half Dollar Silver Coins
The most valuable silver coins will be those that actually contain silver. Half dollar coins minted up until 1970 have silver in them, but the most valuable ones are those minted in 1964 or earlier because they contain 90% silver. Half dollar coins that were minted from 1965 to 1970 contain 40% silver, which still makes them valuable.
Proof half dollars are still minted today, and continue to contain 90% silver. Often proof sets are purchased already enclosed in protective plastic cases to maintain the coins’ value. Silver half proofs will be especially shiny, almost to the point of being reflective. They also will have no copper color when you look at the edge of the coins.
While any dime that was minted before 1965 is considered valuable because they were all minted out of silver, the 1965 silver dime is considered to be highly valuable. This is because 1965 was when the U.S. Mint began to make dimes out of nickel and copper, which means that silver dimes made in 1965 were done so in error.
Though only a few of these silver dimes have been found, they are valued at $9,000 or more. You can tell easily if you are in possession of a 1965 silver dime by checking the edge of the coin. Silver coins have silver colored edges, while copper and nickel dimes have a ring of brown around the edge. Coin experts will also weigh dimes to authenticate them since a silver dime weighs 2.5 grams, but a copper and nickel dime will weigh only 2.27 grams.
The Price Of Silver And Selling Your Silver Coins
The price that you receive for your silver half dollar coins will vary based on the silver spot price. This is the price of silver as a commodity. If you are not in a hurry to move forward with selling silver coins, and can wait, you may want to monitor the silver market prior to putting your silver coins on the market.
Keeping Your Silver Coins Valuable
When selling silver coins, the dealer or purchaser will be concerned with the condition that your coins are in. It is important that you never, under any circumstances, clean your silver coins. To the untrained eye, the colors that may develop on the surface of your silver coins may appear to be unattractive and the sign of defects. In fact, however, it is those very colors, which range from yellow to purplish blue, that confirm the authenticity of your coins and add to their value.
You can make it even easier to go about selling your silver coins by storing them in specially designed cases that will protect them both while you own them, and when you mail them to their new owners. Made out of heavy gauge clear plastic, these cases may be one-size-fits-all cases that fit single coins, or cases that have been made especially for specific coin sizes.
After all, a tiny silver dime will look odd in a case that has been sized for silver half dollars. Once you put a coin in its case, it should remain there to avoid unnecessary touching. Because the coin cases are clear, both you and any future purchasers will be able to examine the coins that they contain easily.
Selling Silver Coins – Seller Beware
While you may be dismayed to realize that selling silver coins to a reputable dealer may mean getting a lower price, this is often the best option. Although websites like Craigslist are excellent places to buy and sell many items, such as snow blowers, old furniture, and even baby clothes, they are not great places to buy and sell valuable silver coins. When you mail your coins to someone based on a response to an ad, you run the risk that they will fail to pay you for it.
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