The process of selling silver dollars in Atlanta may at first appear to be an overwhelming endeavor, but with a little bit of knowledge and some helpful tips, you can learn how to sell silver dollars in Atlanta for top dollar like a well versed coin collector.
There are many different types of silver dollars in existence, but for the purposes of this article, we’re referring to U.S. silver dollars minted from 1878 – 1935, as these are the most common silver dollars bought and sold by investors and collectors alike. Morgan silver dollars were minted from 1878 – 1921, while Peace silver dollars were minted from 1921 – 1935.
The first observation that you’re likely to make is the condition of your silver dollars. Are the coins in circulated or uncirculated condition? Coins that are in circulated condition were in general circulation and used as currency; whereas, coins in uncirculated condition were primarily bought and preserved for collectible purposes. While not all uncirculated silver dollars are incredibly valuable coins, they are more valuable than circulated coins and should be bought and sold at a premium.
Once you’ve determined if you have circulated or uncirculated coins, the next step is to determine where your silver dollars were minted. The “mint mark” on the coin will reveal where your coins were minted. The mint mark can be found on the reverse side of both types of silver dollars; below the eagle’s tail feathers on the Morgan silver dollar and below the word “ONE” on the Peace dollar. Some mints were known for producing fewer coins than other mints, and in some cases, the amount produced were in such limited number, that the coins are considered to be key date or low mintage coins.
The five mints that produced silver dollars are Philadelphia, New Orleans (O), Denver (D), San Francisco (S) and Carson City (CC). All of these mints, with the exception of one, “stamped” the coins with letters to identify where the coins were minted. The only silver dollars that don’t contain mint marks are those that were minted in Philadelphia. All Carson City minted silver dollars are lower mintage coins that sell at a premium – even in circulated condition. A number of San Francisco minted silver dollars are also lower mintage coins, while silver dollars minted at the other three mints are typically common date coins; although, there are certainly exceptions.
Once you’ve identified the type of silver dollars that you have, the condition, and where they were minted, the next step is to determine the number of coins produced and if they warrant a premium. While there are no hard and fast rules, typically speaking, coins with a total mintage of a million coins or less sell at a premium. This is more applicable to Morgan silver dollars than to Peace silver dollars, but all Peace dollars in uncirculated condition with a mintage of a million or less will sell at a premium. A reputable and knowledgeable silver coin dealer should be able and willing to share with you the mintage of any silver dollar that you have available for sale.
In summary, knowledge is power, so the more time you take educating yourself, the more likely you are to learn how to sell silver dollars in Atlanta for top dollar. Once you’ve identified the type of silver dollars that are in your collection, assessed the condition of the coins, determined where they were minted, and obtained the mintage of your coins, you’ve be well on your way to receiving the full value of your coins. Lastly, you should only deal with reputable silver coin dealers, as these individuals are most likely to be transparent in their dealings, offer you a fair price for your coins, walk you through the entire process, and answer any questions that you might have.