If you’re saying to yourself, “Self, we need to sell some coins…the silver kind. From before 1965…when they were still made of silver, at least 90%…” then I know the feeling.
It happens all the time. You’re rummaging through the grandparents stuff, playing in the attic and you stumble upon a cache of coins worth perhaps thousands. “Where do I sell my silver coins you wonder?
You wouldn’t be the first to wonder where the best place to sell silver is. But truthfully, there just haven’t been that many times in history when the question of how to sell silver has come up. Because the prices haven’t been this high in several decades. So here’s a good way to check.
If you go want to get a good deal on your coins, first you’ll need to do your research. The first step is to use what’s called the Official Red Book. It’s a price guide for retail costs of all coins minted in the United States.
Once you check the Red Book for pricing, you’ll be able to determine whether there is numismatic value or metal value for your coins. Most coins are worth more for their metal value. But occasionally, rarely you’ll find coins that have numismatic value that exceeds the metal value.
In either case, you can still sell your silver coins at Houston Gold Merchants, but if the numismatic value exceeds the metal value you’ll want to have your coins graded. Grading is the process of assigning a value to a coin based on its condition, mintage location, and mint date. Only a certified numismatist can grade coins.
It normally costs about $60 to have a coin graded. So it has to be a pretty exceptional coin in order for you to send it off. But if you have questions you can always contact Houston Gold Merchants and we will help you sell your silver coins.