How to Sell Old Silver Dollars

Old silver dollars appeal to collectors.

There are coin collectors who focus entirely on silver dollars. Those numismatists can be a ready market for the silver dollars you'd like to sell. You have a variety of options for selling those old coins, but there are several things to consider before you can complete a satisfactory sale.

Instructions

1. Contact a local coin dealer. Ask him to evaluate the type, grade and worth of the silver dollar. Request an offer from the dealer. He will not pay the full retail value but will generally give you a fair price.

2. Sell old silver dollars at online auctions. Get an account with a service such as eBay. Take pictures of the coins, note their grade, condition, year and mint mark, then list the coins for sale. Take into account any fees the auction site or payment processor charges. These can eat into your profits.

3. If you know your silver dollars are exceptionally valuable, contact an auction house. Ask about their process and fees for selling silver dollars. You probably will have to send your coins to the company. Send the coins through registered mail and purchase insurance from the shipper.

Tips & Warnings

• Coins are sold by grade and type; their worth will vary widely, even for the same exact coin. For example, the prices for two1902 Morgan silver dollars could range from $17 to $1,500.

• Many coin dealers will pay in cash; others will pay with a check, especially for higher value coins. Silver dollars are generally worth more than their silver value.

• You may get a better price by selling your silver dollars through an online auction than selling to a coin dealer.

References

• Rust Rare Coins: Coin Dealer
• EBay: Online Auctions
• Heritage Auctions: Collectible Auctions