If you find yourself in need of extra cash or would like to rearrange your coin collection, you might want to sell silver dollars to receive the funding to do so. With the high price of silver, and the strong performing silver coin market, you might be surprised how much cash you can receive these days when selling silver dollars. If you haven’t been following the precious metals market lately, you might be shocked to know that the price of silver has nearly tripled over the past three years, making it an ideal time to sell your coins to an ethical silver coin dealer.
However, before you make the decision to sell silver dollars, it would be helpful to have a general idea of the value of your coins. While common date average circulated condition silver dollars are likely to fetch a set rate from a silver coin buyer, some silver coins have additional value based on the year that they were minted, where they were minted, the number minted, and the condition of the coins. Coins that have a lower mintage or that contain additional value due to the condition of the coins are commonly referred to as numismatic or collectible coins. These coins can sell for many times the price of the underlying silver metal value of the coin.
Once you have a general idea of the value of your coin, it’s now time to find a coin dealer that will treat you fairly, patiently answer any questions that you might have, and provide you the rationale for how they determined the offering price when you sell silver dollars. Consider the following guidelines to help you narrow down the silver coin dealer that is right for you:
1. The most reputable coin dealers typically also pay the best prices for your coins. Obtaining more than one quote, especially if the initial quote appears to be on the low side, will help you maximize the price that you’re able to receive when selling silver dollars.
2. If you want to be able to sell silver dollars on a regular basis, you will need to partner with coin dealerships with a solid reputation. These companies value their relationship with their clients. You can ask for feedback from other coin sellers as to how a coin dealership is doing and this should be able to give you an idea of the soundness of the business that you are dealing with.
3. When searching for reputable coin dealers to whom to sell your coins, consider looking first at family owned and operated coin dealers. These individuals tend to place a high priority on building relationships and operating in an ethical manner. Forming a strong partnership or working relationship is key for future transactions.
Another option is to use auctions or online auction sites, but we recommend against doing so. Not only do the expenses of selling coins through auctions tend to be cost prohibitive, but you also don’t know who you’re selling your coins to – which is especially true with online auction sites. If you’re dealing with a less than ethical person on the other end, you could potentially lose hundreds, if not thousands of dollars.
Should one want to sell silver dollars online, some silver coin dealers offer a service that allows sellers to send the coins via the US Postal Service straight to the dealership and if bought, the coin buyer will occasionally reimburse their shipping expenses. The package should always be insured ensuring that both parties are protected and properly compensated. This system will allow those selling silver dollars to conduct business from the safety of their own homes while still generating significant profit from the sale. In that regard, this can be one of the best methods to sell silver dollars and sellers should look to explore this option wherever possible.
Learn more about the best way to sell silver dollars. Stop by Atlanta Gold and Coin Buyers’ site where you can find out all about selling silver dollars for top dollar.