It goes without saying that if you’re considering selling silver dollars, your primary goal is to maximize the value for your coins. But in order to do this, you need to become familiar with the coin market and learn the best way to sell your silver dollars. Coin dealers are an ideal avenue to use as they often offer competitive prices for silver dollars, and if you choose the right one, you can rest assured that you’ll be making a safe and credible transaction. Here are a few useful tips on how to sell silver dollars:
Understand that seven issues/types of U.S. silver dollars exist
These include the Flowing Hair, Draped Bust Large Eagle/Small Eagle, Gobrecht Silver Dollars, Morgan Silver Dollars, Peace Silver Dollars, Seated Liberty Silver Dollars, and Trade Silver Dollars. The last U.S. silver dollar minted for general circulation was produced in 1935. Once you identify the type of silver dollars that you have, categorize them by date, condition and origin. There are many coin guidebooks, magazines, and online resources that can help you to obtain the estimated value of your silver coins.
Familiarize yourself with the coin grading system
In order to successfully sell your silver dollars, you need to familiarize yourself with the process of how coins are graded and how the grade translates into the estimated value of your coin. There is a specific ranking for each coin that is dependent on certain criteria. The grading scale ranges from Poor to Good to Brilliant Uncirculated. Once you’ve familiarized yourself with the grading process, attempt to grade your silver dollars and compare your efforts against industry leading grading guides for accuracy purposes. It’s ideal to use coin holders for the safekeeping and storage of your silver dollars.
Peruse your silver dollar collection for coins that stand out
Check for any special features or unique characteristics that your silver dollars might have. Conversely, be on the lookout as well for anomalies, scratches and signs of damage to your coins. As tempting as it may be, never attempt to clean your coins. This may end up greatly reducing or eliminating their numismatic value and can visually alter the coin in a negative fashion.
Visit a trusted and expert coin dealer
Once you’ve properly researched your coins and feel that you have a good idea as to their value, visit a coin dealer that has extensive experience with respect to grading and appraising the value of coins. This should also increase your chances of a successful transaction.
In summary, as you sell silver dollars, keep in mind that there are seven issues of U.S. silver dollars. Generally speaking, earlier issued silver dollars are more valuable than recently minted silver dollars, but that’s not always the case. Familiarize yourself with the coin grading system, peruse your silver dollar collection for coins that stand out, and visit a trusted and expert coin dealer when selling your silver coins.
Submitted by Guest Blogger:
Copyright Fine Rare Coins Blog 2010 at finerarecoins.blogspot.com
Source:
http://finerarecoins.blogspot.com/2013/05/the-ultimate-guide-on-how-to-sell.html
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