If you are going to liquidate your silver coin holdings, then you need to deal with reputable silver coins buyers. Silver prices have been consistently rising in the 21st century, making it a good time to sell your silver coins. However, if you don’t deal with the right buyer, you may not get the maximum return on your holdings.
Before you try to sell your coins, however, you should familiarize yourself with their value. Note that there are two ways to value silver coins – their value as a commodity or as a collectible. When coins are valued as a commodity they are sold in bulk since it is only their silver content that makes them valuable.
On the other hand, a collectible coin has monetary worth beyond its silver content due to factors like rarity and historical value as well as its condition. Do your homework and buy coin collector’s guides or visit websites that identify valuable coins and offer pricing information.
Here are the Different Types of Silver Coins Buyers That You Can Deal With:
1. Coin dealers will buy coins with collectible value. If you have coins that you believe might be valuable beyond their commodity value, you can bring it to these dealers for an appraisal. Make sure that the dealer is a member of the American Numismatic Association since this will ensure that they are reputable and subscribe to the organization’s code of ethics. One tip: unless you’re in a hurry to get cash for your silver coins, visit at least two dealers to get valuations to ensure that you get the best price.
2. Auctions are a way of possibly getting a higher price for your collectible coins by taking bids from interested buyers. You can list your coins on auction sites such as eBay, but make sure that the opening bid for the coin is at least the market value of the silver content to ensure that you get a good price.
3. Scrap dealers will buy bulk holdings since they are interested in the commodity or market value of the coins. There are online silver coins buyers that you can deal with, such as the American Precious Metal Exchange (AMPEX), but you will have to sell a minimum amount of coins and may have to pay transaction fees as well as shipping costs.