How to Tell if Your Silver Coins Are Valuable
You may find yourself with an excess of silver coins. Or, maybe you’ve been keeping an eye on the silver market prices and you’ve been waiting for the perfect time to sell your coins. Either way, how do you tell if your silver coins are valuable? If you want to be able to have an idea of how much you’ll get for your silver coins before you go to sell them, there are a few ways you can determine their value. Always talk to your CPA or Financial Advisor before making investments.
First, Figure Out if Your Coins Are Bullion or Numismatic
The type of coin you have will help to give you a more accurate idea of how much your coins are worth. Your coins will often be bullion coins or numismatic coins. If you have bullion coins, there are fewer factors that go into determining the value of the coin. This means that it will be easier to get an accurate measure of their value. Bullion coins are purely for investing since they themselves hold a numeric value. On the other hand, numismatic coins are more often collected by collectors and hobbyists.
How to Tell if Your Silver Bullion Coins are Valuable
Silver bullion coins are slightly easier to determine their worth than numismatic coins because bullion coins have a numeric value based on their weight and how much silver they contain.
Purity
Your silver coins should have a stamp on them that says 800, 900, 925, 958, or 999. This stamp will tell you how much silver is in your coin. 999 is 99.9% pure silver while 800 is 80% silver. The higher the purity, the higher the value of your silver coins.
Weight
The weight of your coins is probably one of the most accurate ways to tell if your silver coins are valuable. Since the silver market is measured by weight, you can look at the current price of silver and use that to determine your coin’s value based on how much your coins weigh. Silver is measured in troy ounces, which is a special unit of measurement for gold and silver. Troy ounces are based on 12 ounces to a pound instead of 16 ounces to a pound. One troy ounce is equal to 31.1034768 grams.
How to Tell if Your Numismatic Coins Are Valuable
Numismatic coins are collectibles, which means that there are very specific things that go into the coin’s value. While most collectors will already have an idea of what their coins are worth, people new to collecting may not know what to look for. Since you can’t simply just weigh numismatic coins, you’ll have to do a little bit of research on your coins to tell if your silver coins are valuable.
Number Minted
The number minted refers to how many coins were originally made and therefore how many are on the market. Coins with a lower mint number may be more valuable since they are rarer.
Grade and Quality
The grade or quality of your coin also plays a part in determining how much your coins are worth. Coins in better condition are often more valuable than ones that are damaged or flawed. The grade and quality of your coins is not equal to the cleanliness of your coins, and you should never clean your coins before you sell them.
Demand
Lastly, another important thing to research when figuring out if your coins are worth anything is to check their demand. Coins in high demand will be more valuable than those that are not in demand. You can easily do a quick online search to see if your coins are in demand. While you don’t ever want to sell your coins on websites like Ebay, you can use the website to see how much the coins are going for and if there is a high demand for them.
We Buy and Sell Silver Coins
We buy and sell many different kinds of silver coins. Silver coins of note that we are currently buying are:
Silver Dollar Coins
- Morgan
- Peace
- American Silver Eagle.
- Silver Eisenhower Dollars (Blue Ike or Brown Ike – however, they must be in this special set)
Wartime Silver Nickels
We buy wartime silver nickels. We buy coins in the years 1942-P and 1942-S to 1945. Wartime silver nickels look dirty and are 35% Silver.
Silver Coins We Do Not Buy
We do not buy Susan B. Anthony, Sacagawea, or Presidential Dollar Coins.
Silver Coins We Sell
We currently have a stock of 2023 Silver Britannia with Kings Charles coins for sale.
Ready to Buy or Sell?
If you are ready to buy silver coins or sell your silver coins, you can schedule an appointment with us. Please don’t hesitate to contact us if you have any other questions.
