It can be difficult to know where to start. That’s why we’ve compiled some of our most commonly asked questions about selling coins so that you can sell yours confidently. Learn about the process for assessing silver coins, what to look for in silver coin buyers, and some of our best insider tips. Still have questions? Feel free to contact Luriya today and we’ll be happy to walk you through the process.
Are you looking to sell silver coins for cash? If so, then you’re probably wondering “Where can I sell silver coins?” Well, you have a few different options:
Auctions: you can sell silver coins at an online or in-person auction, but they may not sell for as much as they are worth. Plus, auctions can be timely processes as you must wait for the highest bidder.
Pawn shops: you can sell silver coins at pawn shops, but you should be aware of some issues before you do. Pawn shops are popular because they’re so common and an easy option for most people. However, they’re also notorious for underpaying sellers for what their valuables are worth.
Private buyers: selling coins to a private buyer is your best option. While it can be tricky to find one at first, once you find a silver coin buyer whom you trust, you will sell your silver coins with ease and for what they are worth.
It can be hard knowing how to sell silver coins. If you’re not very knowledgeable about the industry, navigating silver coin sales can be tricky.
First, it’s important to find a reputable established buyer whom you trust. Once you do that, the rest of your silver coin sale will be smooth sailing. You can be sure an honest buyer will give you the right amount of cash for your coins.
The second step is to get a silver coin appraisal. An appraisal will give you all the information that you need to know about what your silver coins are worth. If you’re interested in learning about the details of the appraisal process, keep on reading!
A silver coin appraisal is simple, and you don’t need to worry about your silver coins being damaged in the process. Choose an expert appraiser with years of experience and they’ll be sure to evaluate your silver coins properly.
An appraiser will determine what your silver coins are worth based on the following factors:
1. Rarity. Are your coins rare? If so, you’re looking at a larger cash payout.
2. Condition. Are your coins in pristine condition or are they looking worse for wear? The answer could influence their value.
3. Bullion value Regardless of the condition of your coins, the metal they are made from may still have value.
The most important thing about selling coins is to educate yourself. The more you know about your coins, the more success you will have while selling them.
Learn about your coins – do you have an Austrian Silver Philharmonic? What about a Silver American Eagle? Know which specific coins you have, and research what these kinds of coins sell for – having this knowledge will help you tremendously. It will also act as a safeguard against silver coin buyers that may try to take advantage of you, as you’ll already be aware of the average selling prices.
1. Know the dealer’s history! Make sure they’re legitimate and reliable. Read reviews on websites such as Yelp and Google+ to see what other customers have said.
2. Make sure all the testing equipment is certified by your state and properly calibrated. Don’t know how? Just ask! At Luriya, our scales are certified by New York State. Your buyer should be upfront with you about their measuring equipment.
3. Your silver coins should be tested in front of you. Here at Luriya, we evaluate your coins right where you can see them.