Sell Silver Coins in NYC

Determine the Value of Your Silver Coins

A few ways exist to determine the value of silver coins before you put them up for sale, if you wish to have a rough idea of what you will receive.

First, Determine if Your Coins Are Bullion or Numismatic

The type of coin you have will help you figure out its value more clearly. Your coins are usually either bullion or numismatic. Bullion coins are straightforward in terms of value since there aren’t many factors that affect their price. They are mainly used for investment purposes because they have a set monetary value. On the other hand, numismatic coins are more for collectors and hobbyists.

Silver Bullion Coins: How to Know If They’re Valuable

Because bullion coins have a numerical value based on their weight and silver content, determining their value is slightly easier than with numismatic coins.

Purity

Your silver coins will typically be marked with stamps such as 800, 900, 925, 958, or 999. These numbers indicate the purity of the silver in your coin. For instance, a 999 stamp means the coin is 99.9% pure silver, whereas an 800 stamp indicates 80% silver content. Generally, the higher the purity, the more valuable the silver coin is.

Weight

The weight of your coins is a key indicator of their value, especially since silver is traded by weight. You can check the current price of silver and calculate the value of your coins based on their weight. Silver is measured in troy ounces, a unit specifically used for precious metals like silver and gold. Unlike the standard ounce, which has 16 ounces per pound, a troy ounce uses 12 ounces per pound and is equivalent to 31.1034768 grams.

Identifying The Value Of Your Numismatic Coins

Numismatic coins are valued as collectibles, meaning several specific factors contribute to their worth. Experienced collectors often have a good sense of their coins’ value, but if you’re new to collecting, you might not know what details to consider. Unlike bullion coins, you can’t determine the value of numismatic coins by weight alone. Instead, you’ll need to do some research on your coins to understand their value.

Number Minted

The term “number minted” refers to the total amount of coins that were produced originally, indicating their availability in the market. Coins with fewer units minted are often more valuable due to their rarity.

Grade and Quality

The grade or quality of your coin significantly influences its value. Coins in better condition are typically more valuable than those with damage or imperfections. It’s important to note that the grade does not relate to how clean your coins are, and you should avoid cleaning your coins before selling them.

Demand

Finally, it’s crucial to assess the demand for your coins when determining their value. Coins that are highly sought after are usually more valuable. You can conduct a simple online search to gauge the demand for your coins. While it’s not advisable to sell your coins on platforms like eBay, you can use such sites to get an idea of the current going rates and demand levels for your coins.

At Sell Coins NYC, we specialize in providing expert appraisals that reflect the true value of your silver coins. Whether you have American Silver Eagles, Morgan Silver Dollars, or any other type of silver coin, we consider both their numismatic and bullion value. When you are ready to sell coins for cash, schedule an appointment with us or contact us if you have any other questions.

How to Sell Silver Coins

Selling silver coins can be a straightforward process if you understand the best practices and avenues for sale. Here are essential steps to ensure you get the best value:

1. Assess Your Coins: Identify the type, rarity, and condition of your coins. Consider professional grading for authentication.
2. Research Market Values: Stay updated on current silver prices and the selling prices for similar coins. Prices can fluctuate based on economic factors and collector demand.
3. Choose a Selling Venue:

• Coin Dealers: Local or online dealers can offer quick sales, but prices might be lower to cover their overheads.
• Auctions: Auction houses or online auction platforms can be suitable for rare or highly valuable coins, potentially fetching higher prices due to collector interest.
• Online Marketplaces: Websites like eBay allow you to reach a broad audience, but require good marketing and awareness of seller fees.
• Coin Shows: These events provide access to many potential silver coin buyers and experts but might involve travel and entry costs.

1. Prepare Your Coins: Clean them properly (seek professional advice) and prepare detailed information for buyers.
2. Set Your Prices: Base them on your research and be open to negotiations.
3. Legal and Tax Implications: Understand any legal requirements or taxes involved in your sale.
4. Secure Transaction: Use trusted payment methods and consider escrow for high-value deals.

Silver Coins We Buy

At Sell Coins NYC, we are interested in purchasing a variety of high-quality silver coins, including:

• American Silver Eagles: Popular for their purity, these coins are minted from one troy ounce of .999 fine silver.
• Chinese Silver Pandas: Collectible coins that feature a new panda design each year, struck in .999 fine silver.
• Australian Silver Koalas: Known for their annually changing koala designs, these coins are also minted in .999 fine silver.
• Australian Silver Kookaburras: Feature unique, annually updated designs of the Australian kookaburra in .999 fine silver.
• Mexican Silver Libertads: These coins display iconic Mexican imagery and are available in various sizes, made from .999 fine silver.