Where to Sell Silver Coins for Cash (8 Options)

Selling silver is not that straight forth as it seems. You have the egg white metallic in your hands be it a coins, bars, sterling, or just some scrap argent, but how do you get the best price possible ? And what ’ s the fastest way to get the cash in your hands without getting scammed ?
These are just a few questions we hope to answer in the stake below. We all stack silver for diverse reasons. I ’ d like to think most of you though see argent as an policy against all the crazy FIAT being printed around the earth and to protect yourself against the coming crash.

When I first started investing in ash grey, the immediate question that came to mind was “ how to sell silver for cash or money when I need to ? ” Granted my think has changed as silver is money and the whole distributor point was to exchange dollars for silver medal.
Cash in Hand
however, there may come times when you do need to sell for some quick cash for 1 reason or another. Hopefully this will give you some ideas if you have no clue where to begin 🙂

Know What You Have

Before you rush to sell, you first need to determine what you have and how a lot it may be worth. The day you sell, you will want to be armed with the spotlight price of silver. You can check the top justly of this site for the spot price or just go to kitco.com to verify. This will give you how much people are buying or selling at that clock time .
adjacent carry inventory and identify the character of silver .
Bullion Coins Bullion Coins BULLION COINS
Bullion coins come from politics mints as .999 very well silver and will normally sell at a bounty to the spot monetary value of silver. For exemplar, when you buy american Silver Eagles, they typically come $ 2- $ 3 over spot. But when you sell back to the dealer it may lone hold a $ 1 – $ 1.50 premium over spot .
Selling Silver Bars Selling Silver Bars ROUNDS, BARS, SCRAP
This type of eloquent is besides .999 fine argent but will not carry a eminent as agio as bullion coins. For the most separate this will credibly sell for point or melt value. Melt rate being if you have 10 ounces of silver, you will get only 10 ounces of the spot price of silver .
Sell Junk Silver Sell Junk Silver JUNK SILVER
This is a loosely named term for US coins issued before 1965 that contain 90 % silver. Dimes, quarters, half-dollars, and dollars all fall into this category. Expect melt rate or just below melt value for this type of silver. This silver is bang-up for preppers .
Sterling Silver Sterling Silver STERLING or FLATWARE
Sterling silver is an alloy of eloquent containing 92.5 % silver with 7.5 % of some other metallic such as bull. It has a long history in many countries being used as crockery or cutlery. It can be identified with a 925 mark or trademark somewhere on the alloy. Unless it is a rare antique or vintage sterling item, you can credibly expect just thaw value for this type of silver .
Slabbed Coins Slabbed Coins RARE COINS & COLLECTIBLES
If you have a slabbed or graded mint or was handed a coin solicitation from your grandparents, estate etc … you may have some valuable rare or numismatic coins in your possession. These can sell at a very high agio depending on the rarity, timbre, age, and hit of the coin. You will want to get these appraised by 2-3 professionals first before you attempt to sell .
If you believe you have a true rarity, submit it to PCGS, which is the standard Professional Coin Grading Service in the states. These guys will professionally grade your coin for a tip. This will let you know what kind of monetary value you can expect if you have no idea and armed with this you can command a much higher price when you ’ re fix to sell .

8 Options to Sell Your Silver

now it ’ second time to find out where to sell argent coins for cash ! Below are 8 options that you have to do this, while not exhaustive, they should be sufficient to get money in your pocket. The list is in no particular order .

1. Local Coin Dealers

Local Coin Dealers
Local coin dealers are the manner to go if you live near one. These shops are a debauched and convenient way to sell your eloquent coins. You can expect a decent price for your silver depending on how honest the workshop owner is .
Look for coin shops who have been in the business for awhile and didn’t open just last month!
It ’ s always smart to be on friendly terms with your local anesthetic coin shop as they can besides alert you when certain types of eloquent come in you ’ ra looking for specially if you ’ re a coin collector. We ’ rhenium building a national directory of coin dealers, so please leave a profile or get in touch if you want to get listed .
Quick Tip: Avoid Fridays when sell, mint dealers trying to make profits by flipping may not like holding their coins over the weekend when monetary value can be explosive. This is specially true with selling amber coins .
PROS

  • Convenient usually just a short drive from your home
  • Instant cash in hand after purchase, no waiting in the mail for a check or payment
  • Face to face dealing, usually more honest, upfront and easier to deal with problems
  • Fair price, also most have expertise on numismatic coins as well
  • Private, no electronic trace of transaction

memorize

  • May not have one nearby if in a small town, or limited options
  • Most coin shops buy to turn a profit, so most likely you will get melt value for your silver

2. Pawn Shops

Pawn Brokers
While instrument shops have constantly gotten reasonably of a bad rap because of their lend practices, they do have a invest in the cute metals world .
It ’ sulfur hard to say if there are more coin dealers or pawnbrokers, in the US there an calculate 12,000 pawn shops in operation. More than just buying and selling cute metals, pawn brokers besides buy, sell, & ‘ pawn ’ all sorts of items not precisely coins and bullion .
PROS

  • Pawn shops are all over the country in most major cities
  • Payment and cash is instant when selling your silver
  • Will accept most types of silver from coins, sterling, jewelry, and scrap

convict

  • You can prepare to get less at a pawn broker than a coin shop
  • Bringing a rare or numismatic coin ungraded to a pawn broker may not give you fair value

3. Coin Shows

Coin Shows
Coin shows are a fun and capital place to browse collectible coins and bullion products. Depending on the size of the picture, you can have anywhere from 30-40 to over 100 unlike coin dealers all in 1 place at 1 time !
Granted these shows are more for the buying silver or collectible coins and bullion from the public than selling. You will want to get respective quotes from dealers before you end up deal and it possibly a starting point in getting to know some of the local dealers .
You can find out when the future coin show in your area by going here .
PROS

  • Lots of dealers and experts in 1 place to get multiple opinions or appraisals
  • If you have a rare coin, you can also get these graded at these coin shows

convict

  • Only happen periodically from a couple of weeks to a couple of months
  • Usually cost a fee for entrance to the convention ($5 – $10)

4. Online Dealers

probably the most popular way to buy & sell ash grey is through on-line dealers. There is no dearth of bullion and cute metallic element dealers that operate on-line and have silver buy programs .
One can browse some of our bullion dealer reviews and see the positivist or negative feedback received. Most of the major precious metals dealers are actively buying from the populace. The biggest downside is the ‘ ship ’ share, particularly when its a high dollar come, I ’ ve constantly been reasonably uneasy shipping thousands of dollars of silver or aureate .
If you ’ ve buy from an on-line dealer in the past, and had a good experience, inaugural check to see if they buy back their own products. many dealers are happy to buy back product they ’ ve sold in the past .
hera are a few reputable dealers that you could use :
PROS

  • Many reputable online dealers to choose from
  • Can be done from the comfort of your own home
  • Some of the best prices paid can be found from online dealer sites, usually you just give them a call and they will quote you a price

victimize

  • Not a private transaction and will be recorded and electronically stamped
  • Shipping precious metals carries risk of loss or delay, as well as the extra cost
  • Payment is not instant, and can take weeks after the dealer has your metals (horror stories abound)

5. Ebay & Auctions

Ebay Selling Coins
Auctions are another means to sell your argent for cash. Becoming more and more popular, flatware bullion, coins, and products are being sold daily with over 33,000 listings on ebay for silver coins at the time of this write .
This biggest concern about Ebay is the seller fees that will eat away at your net income margins. Standard fees are 10 % and go up from there. This does not include interpolation fees, upgrades, ship costs or paypal costs which is another ~ 2 %. so when you add all this together you wonder how so many people continue to buy and sell on Ebay ?
good, apart from bullion products, you will find a batch of numismatic and collectible coins on the site. These coins command higher premiums and may be well worth trying to sell on Ebay. If you ’ re just selling a copulate of standard American Silver Eagles, this may not be the best option .
You will besides find a batch of good handmade or hired hand poured silver bars. Since these are custom-made made they sell a lot more than the fade price of eloquent .
There are many early auction agencies online, but most of these cope more with numismatic and rare coins that sell for extremely high premiums. If you have a coin solicitation or rare mint you may possibly want to go this path .
Great Collections Great Collections Ebay logo Ebay logo Heritage Logo Heritage Logo

PROS

  • Lots of potential buyers on sites like Ebay
  • Auction style bidding can drive the price up higher than normal
  • Good for rare and numismatic graded coins that command high premiums

memorize

  • If you list it auction-style, your silver could undersell for less than you hoped for
  • Not very good for selling bullion and fine silver products
  • Shipping charges will eat into your overall margin when selling gold or silver
  • Fees, fees, fees

6. Forums

Community Forums
Apart from on-line dealers, community forums are another direction to sell your silver on-line. If you don ’ t know of any then it ’ s credibly you ’ rhenium best bet to not go this route .
2 forums that are active in this sphere are silverstackers and reddit .
Silverstackers, has a section on Buy, Sell, Swap ; with Australia & New Zealand having the most active threads .
Reddit has a train of thought PMSforSale where you can buy, sell, or trade your aureate or eloquent with other residential district members .
PROS

  • If your active in the community easier to sell and be trustworthy
  • Possibly find local buyers and save on shipping and sell in cash
  • Build feedback and a reputation for ongoing buying/selling

con

  • Limited number of buyers to forum users
  • More easier to scam with no recourse than other avenues
  • Payment and shipping can be a hassle when buyer is in another state

7. Smelters & Refiners

Smelter
Lastly, you have the option to sell silver heterosexual to the refiner or smelter. By selling to a smelter you are cutting out the middle world particularly if it is jewelry or greatest that will be melted down for the message value .
Selling to a refiner or smelter is more directed at scrap ash grey and less bullion coins. You will get basically mellow value or potential a little under .
I would suggest to do this locally a well and try to avoid shipping your silver in the mail if you ’ ra deal to a smelter or refiner. besides lots of these businesses won ’ t want to mess with a little amount. If you have 5 – 10 ounces you will want to sell expect elsewhere .
PROS

  • Good for jewelry, cutlery, or sterling silver you have in your possession

CONS

  • Most like to deal with large amounts of silver and focus only on silver content
  • Expect to get melt value or just under melt value for your silver
  • Bullion coins and numismatics are out of the question

8. ‘Cash for Gold / Silver’ Mail-in System

If you ’ re wondering … two words, stay away !
so that ’ s a wrap. If you have a place that you ’ ve sold eloquent that ’ s not listed please let the community know in the comments below !

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