Silver coins can also be sold to pawnshops, silver exchange houses and silver buyers, each of whom will give you money in exchange for your coins (depending on the weight of the coin) and then proceed to melt them. Pawn shops often have a bad reputation. You can go to a highly respected pawn shop and get the best deals. Research which pawn shops deserve your effort.
You can pawn your silver coins or sell them. If you sell them immediately, you get a better price than when you pawn your items. When I started investing in silver, the immediate question that came to mind was “how to sell silver for cash or for money when I need it? Okay, my thinking has changed, since silver is money and the goal was to exchange dollars for silver. However, there may be times when you need to sell for quick cash for one reason or another.
I hope this gives you some ideas if you have no idea where to start ???? ROUNDS, BARS, SCRAP This type of silver is also. For the most part, this will likely be sold for spot or merger value. The melting value is that if you have 10 ounces of silver, you will receive only 10 ounces of the spot price of silver. JUNK SILVER This is a loosely called term for US coins issued before 1965 that contain 90% silver.
Ten, twenty-five cent, half dollar and dollar coins fall into this category. A melt value or just below the melt value is expected for this type of silver. This silver is ideal for preparers. STERLING or FLATWARE Sterling silver is an alloy of silver that contains 92.5% silver with 7.5% of some other metal such as copper.
It has a long history in many countries being used as crockery or cutlery. Can be identified with a mark or mark 925 somewhere on the metal. Unless it's an antique or antique item, you can probably expect the melting value of this type of silver. Local coin dealers are the way to go if you live near one.
These stores are a quick and convenient way to sell your silver coins. You can expect a decent price for your silver, depending on the honesty of the store owner. While pawnshops have always had a bad reputation because of their credit practices, they do have a place in the world of precious metals. It is difficult to say if there are more coin dealers or pawnshops, in the United States there are about 12,000 operating pawnshops.
More than just buying and selling precious metals, pawnbrokers also buy, sell, %26 'pawn' all kinds of items, not just coins and bullion. Probably the most popular way to buy %26 sell silver is through online distributors. There is no shortage of bullion and precious metals dealers who operate online and have silver buying programs. Auctions are another way to sell your silver for money.
Increasingly popular, silver bars, coins and products are being sold daily with more than 33,000 listings on ebay for silver coins at the time of writing. Ebay's biggest concern is seller fees that will end your profit margins. Standard rates are 10% and increase from there. This does not include insertion fees, upgrades, shipping costs or PayPal costs, which is another ~ 2%.
So, when you add all this up, you wonder how many people are still buying and selling on Ebay? In addition to online distributors, community forums are another way to sell your silver online. If you don't know any, it's probably best if you don't go this way. I would suggest doing this locally as well and trying to avoid mailing your silver if you sell it to a smelter or refinery. Also, many of these companies won't want to mess with a small amount.
If you have 5 to 10 ounces, you will want to sell, look elsewhere. Sir old coins for sale please contact me 'coins are silver. Anyone interested in buying please contact me I have the Liberty Gold 1795 coin. I have 64 oz of mercury dimes that I've sold on Ebay before, but with a 13% +shipping fee, you'll end up getting below the point.
You can sell your gold and silver near you at a local coin store. The advantage of a local coin store is that you can receive money more quickly. The downside is that they may not offer the best price since their expenses are higher. And a small store may not be able to handle large repurchase orders.
Silver is an incredibly valuable metal, so sometimes the amount of silver in a coin can be worth more than the face value of the coin. There are coin buyers who will pay you for the amount of silver in the coin and then melt it to extract the silver. However, selling your coins to melt them isn't always a good idea. Before you sell your silver coins for their fusion value, here are a few things you should know, brought to you by the precious metals experts at First National Bullion, the silver and gold dealers that San Diego collectors trust for their excellent quality and service.
The amount you will earn from selling those same coins could be between 20% and 50% lower than the prices indicated in those guides, depending on the currency given and its status. Why? This is because dealers buy at wholesale prices, allowing them to pay the company's operating costs, such as overheads and salaries. For example, if your currency contains half an ounce of gold in metallic content, its spot value is 50% of the value of one ounce of gold, the most commonly cited unit of measurement for gold (and silver) prices. This is where you need to know the current prices of metals.
You will know roughly what to expect from an offer when you are going to sell coins with precious metals. Top 13 Error Coins Worth Money - Price Guide. You can learn more about this step in a previous article, How to determine the value when selling silver coins. Whether you want to take advantage of a strong silver market or have recently inherited a coin collection, it's worth not to rush the selling process.
It's devastating to exchange money for silver coins and finding out later that they were worth more. To avoid going through my painful experience, let's take a look at the different types of silver coins that exist;. A dollar of “junk silver” contains 0.715 ounces of silver (at least when it was new, some people calculate it at 0.71 because it's worn out). This is, of course, a question that all silver coin sellers would like to answer in order to maximize the value of their transaction.
Morgan and Peace silver dollars are also 90% silver coins, but they are bought and sold for a premium, above the spot price of silver, due to their numismatic or collectible value. Collecting sets of silver coins requires previous series to raise their values above the values of the underlying metals. Another thing to consider before selling your silver coins for their merger value is that many scrap shops have the potential for unethical behavior. I ended up selling my silver coins that date back to the First World War of 1916 for money worth a bag of peanuts.
They are silver dimes, quarter and a half dollars minted in 1964 and before, Morgan and Peace silver dollars minted from 1878 to 1935 and American silver eagles. Of course, these shows are more for buying silver or collectible coins and bars from the public than selling. Whether you're a veteran coin collector or just looking to sell your antique silver coins, contact the experts at First National Bullion. Many of your old coins are mostly valued for their silver content, a dynamic market with prices that change daily.
Before you try to sell silver coins, you'll need to organize your collection into collectible and rare coins; commonly known as “numismatic coins”, and those that will be sold primarily for their silver value. . .