Nov 21, 2012 11:00 pm
Selling your silver coins can be difficult when there are so many types and aspects to consider. From various years and proof sets to U.S. mint coins and bullion coins, it’s important to find the right gold and silver buyer that is knowledgeable about silver coins. So what should you know about the types of coins that you can sell?
When you’re considering the value of certain years of a coin, some are more valuable than others. For example, coins minted before 1965 are 90% silver while 1965-1969 with only 40% silver. This is important especially if a year is rarer and more valuable than others.
If you have a proof set, made of proof coins (coins made using a high-quality minting process and made especially for collectors) from one particular year, certain sets can be more valuable than others. A 1936 U.S. Proof Set is worth thousands of dollars, which can be more or less than other years.
Mint coins can vary in value as well, and offer a special symbol (mintmark) corresponding to the branch that the coin was minted at. Prior to 1909 (except 1838-39) the mintmark appeared on the reverse of the coin but coins minted 1968 and later, the mintmark appeared on the obverse side of the coin. A set of mint coins includes each denomination produced by one particular mint.
A bullion coin is kept as a store of value or as an investment and varies in weight, metal (gold, silver, platinum, or palladium), and type. These coins have a purity that is greater than 0.900 and sell for a premium over the market price of the metal on the commodities exchanges. There are various years that produced coins at a heavier weight. The premium of the coin value is also affected by the demand for the coin.
Each coin differs with each type, year, weight, and purity level and produces a unique value. It is best to look into the particular coin that you would like to sell and find a gold and silver buyer with the experience to handle the value of your coin.
At Global Gold and Silver, our experts have years of experience and understand what your coin can mean to you. Whether you would like an appraisal online or in-person, our knowledgeable staff will help you to sell your silver coins at the price it deserves.