I Have Old Silver Coins – Where To Sell Them For Cash With Best Gain?

Old Silver Coins

If you are a proud owner of old silver coins and willing to sell them for cash, you are in luck. The price of silver has reached almost all time high at almost $40 per ounce in mid September of 2011. All those who had an extensive silver investment portfolio or a collection of silver coins and purchased these years earlier definitely were able to sell some of their silver coins for a profit.

Though the prices of silver started slowly coming down at the end of September 2011, you can still sell your junk silver dimes or silver coins of different kinds for the best return possible. In order to maximize your cash pay outs from your coin collecting hobby, you must shop around. There are a number of silver coin buyers online that have excellent reputation and pay top dollar amounts for silver coins and silver jewelry. Another excellent place to sell your old silver coins is through your local coin shops, but make sure that they are associated with American Numismatic Association that obliges all of its members to adhere to the best business practices and the code of ethics.

Be careful about inspecting your old silver coins in case you happen to have a few rare coins that might be worth much higher than silver coin melt value.

Some people report to finding unique silver coins even in seemingly low priced junk silver bags. Look through your old silver coins to determine which coins could be sold as scrap silver and which ones might have significant numismatic value. If you are unsure about the value of your old silver coins, take them to a professional coin dealer.

Before you sell your old numismatic silver coins, research is the utmost important thing to do. Even if you are not numismatic savvy, you can still research your individual old silver coins through various online coin auctions and see how much these are going for. You can also check out the American Coins Red Book that lists values of all coins that were minted in the US. The old silver coins value will be ultimately driven by coin’s grade or the condition it is in. American Numismatic Association recognizes 13 coin grade variations ranging from Perfect Uncirculated (MS-70) to About Good (AG-13). If you are not able to determine the exact coin grade, you can always have a professional do it for you for a small fee. Coin’s rarity and scarcity are other two determining factors that go into the value calculation of your old coins. Even if a coin is in a MS-70 grade but is not scarce, its value is not going to be high. And vice versa, if a coin is in a lower grade but of much higher scarcity level, its value is going to be much more superior.

If you determine that some or your old silver coins are not worth much that their value in silver, you can still get their melt value. To get the best value out of your non-numismatic old silver coins is knowing the spot price of silver on a given day and contacting a number of scrap silver buyers for an estimate. You will not want to sell your scrap silver coins for lower than 90% of the actual silver value. Midwest Refineries LLC is one of the best choices when it comes to selling your scrap silver. This precious metals refiner pays one of the highest cash payouts on the market. Another good choice to consider is US Gold Buyers who have an excellent reputation and best same day cash pay outs.