Selling your silver coins can be an exciting but scary endeavour. For centuries, silver coins have been traded and used in exchange for goods and services. This has continued to this century with silver still being used in the making of coins. Silver is not only beautiful and valuable, it can also be volatile when it comes to the precious metals markets.
Many people may have inherited medium to large-sized silver coin collections from a parent or grandparent, as silver coins were prevalent and readily available in the early 1900s up until roughly the start of 1965. No matter the method you used to accumulate your stack of silver or rare coin collection, there may come a time that you decide to sell silver bullion Brisbane. Here are some basics of how to sell silver like a professional:-
- Research your silver coins
- Compile a list of your silver coins, their purity and any other relevant specifications
- Compare the different silver dealer options around you. Beware of online sites like eBay, Some of these sites often lead new silver investors to obtain inaccurate, misleading information about silver coins
- Explore coin dealers and other local shops that buy and sell gold and silver coins and bars
- Watch the spot-price and sell when it is high
How much does a silver coin cost?
Silver prices fluctuate every day. When looking at the current value of your coins, it is usually best to look at the current price of silver (current market price) and the amount of silver as the actual weight of each coin. Besides weight and purity, there are other things to consider. The value of your silver coins could be affected by many factors, including their age, condition, rarity and where you decide to sell them.
Old silver coins, such as those made in 1892 and earlier, were also likely to be sold at a premium that exceeded their basic value of precious metals. The amount you earn when you sell a Brisbane silver product will depend on the year, mint mark, rarity, and condition of the coins.
How much do coin dealers pay for silver?
No two dealers are ever the same. Most precious metal dealers will use the same methods to evaluate your silver when you sell but how they come up with the final amount they will pay you when you sell silver bullion Brisbane can be incredibly different. Always keep in mind that precious metal dealers run a business with overheads and staff. They have and other costs of doing business that they have to factor into their prices. For this reason, most coin dealers pay below the spot-price for most silver bullion coins. There are some exceptions especially when it comes to popular sought-after coins like the American eagle silver coin which is very popular and almost always sells for higher premiums. You can expect to get 95-98 percent of the actual value of silver when you sell. These have been difficult times, but you can get through them if you have silver to sell.