When selling silver dollars, it is in your best interest to become familiar with the process so that you can feel confident that you’re receiving the best prices when you sell your silver coins. Â While it may appear on the surface to be an overwhelming task, the process can be made much easier when working with a transparent and reputable coin dealer.
Before going further, let’s define what we mean by silver dollars and provide some additional information on these highly sought after coins. Â When mentioning silver dollars, we are generally referring to U.S. silver dollars minted from 1878 – 1935; although, there are certainly many other coins that fit this definition.
The most widely recognized silver dollars are Morgan silver dollars, which were minted from 1878 – 1921, and Peace silver dollars, which were minted from 1921 – 1935. Â Silver dollars minted prior to Morgan silver dollars are Trade Silver Dollars, Seated Liberty silver dollars, Draped Bust silver dollars, and Flowing Hair silver dollars, but these coins are typically more rare and sell at higher premiums than most Morgan and Peace silver dollars.
An important fact to remember about Morgan silver dollars is that those that display a “CC” stamp near the bottom reverse side of the coins indicates that they were minted in Carson City, Nevada. Â All of these coins were relatively low mintage coins (compared to other mints) and sell for a premium above and beyond the silver content of the coins.
Other popular and relatively low mintage Morgan silver dollars were minted from 1893 – 1895; however, there are also other notable dates and specific mint marks that sell at a premium over the silver content of the coins. Â Find a coin dealer that will share with you how they arrive at specific prices for your silver dollars to confirm that you’re being paid a fair amount for your coins.
Peace silver dollars, in general, were minted in higher quantities; therefore, there are only a few coins in this series that sell at a premium. Â The most notable key date Peace silver dollars were minted in 1921 (this is a high relief coin) and in 1928. Â While the 1928-S Peace silver dollars is considered a semi-key date, the king of Peace dollars was minted in 1928 by the Philadelphia Mint. Â Morgan and Peace silver dollars minted in Philadelphia don’t contain mint marks.
Before selling silver dollars, you should also note the condition of the coins. Â Even if you have relatively high mintage silver dollars, Morgan and Peace silver dollars in uncirculated condition should bring an additional premium, as most silver dollars were in circulation at one point in time. Â Prior to selling your Morgan or Peace silver dollars, confirm with the coin dealer that you’re considering that they pay a premium for brilliant uncirculated condition silver dollars.
While this article wasn’t meant to provide all of the nuances of selling silver dollars, we hope that you still found it beneficial and that you’ll feel better prepared when you approach silver coin dealers with a potential sale of your silver coins.
If you have any additional questions, don’t hesitate to contact Atlanta Gold and Coin Buyers via e-mail at firstname.lastname@example.org or via phone at 404-236-9744. Â We’re always happy to answer any questions that you might have.