Silver Coin Auctions: Sell US Silver Dollars and Other Coins at Auction for Maximum Value
Morgan Dollars sold at auction from an East Longmeadow estate
Silver is the oldest and most common medium of exchange worldwide. Though the melt value of an individual silver coin isn’t particularly high, a large collection can fetch a nice sum.
Some silver coins are worth much more than their melt value. Many are exceptionally popular with collectors. Rarer varieties of silver coins will perform well at auction, bringing you a healthy profit.
At Central Mass Auctions we evaluate each coin we see. Our appraisal will give you a ballpark figure of what your coins are worth, and will help you make decisions as to how to proceed. Contact us today to auction your silver coin or collection of coins, or read on to find out more.
What determines the worth of a silver coin?
The value a collector will place on any given silver coin depends on:
- The rarity of the coin. Certain dates and mint marks are far harder to find and therefore are more valuable to collectors.
- The condition of the coin. Undamaged coins will always be more valuable.
- Rare errors or variations. For example, the 1880-O “hot lips” Morgan Silver Dollar contains a double strike error that makes Lady Liberty’s lips look larger. This silver dollar variety is worth as much as $20,000 or more in good condition.
- The popularity of the coin. For example, Morgan Silver Dollars are far more popular than Peace Dollars simply because most people prefer the design of the Morgan Dollar.
Don’t mistake coin age with coin worth. Some American Silver Eagles from years as recent as 1999 or 2000 have sold, and will continue to sell, for thousands of dollars.
Are silver dollars the best type of silver coin to sell at auction?
Generally, yes, but not always. Silver dollars are the most recognizable type of US silver coin, and so they have the largest base of collectors, which means (for one thing) that they’re somewhat more likely to be cared for in a collection and not at the bottom of a drawer or under a couch cushion. Of silver dollars, Morgan Dollars and Seated Liberty dollars tend to be most valuable individually or in a collection. Of course, certain other silver coins can perform well at auction, like the Franklin Half-Dollar or the all-silver Kennedy Half-Dollar.
Do I need to get my silver coins graded before auctioning them?
No. It’s a better idea to get at least a rough professional appraisal of your silver coin(s).
Coin-grading services cost money. They also take time. Allowing us to take a look at your coins prior to sending them off for a grade can save you some headaches.
We may not be able to give you a precise PCGS grade, but we can get you a “ballpark” number. We’ll also tell you whether grading and slabbing your silver coin will help it perform better at auction.
What are some examples of rare silver coin dates and mint marks?
Though there are other silver coin varieties that are valuable, Morgan Silver Dollars provide great examples. These five examples are all worth more than $150,000. Some are worth over $400,000.
- The 1901 Morgan Silver Dollar.
- The 1893 S Morgan Silver Dollar.
- The 1889 CC Morgan Silver Dollar.
- The 1884 S Morgan Silver Dollar.
- The 1893 O Morgan Silver Dollar.
Complete sets of silver coins are often even more valuable than individual silver coins.
The value of silver coins can add up. If you have inherited or collected multiple silver coins over the years you might have a nice small fortune on your hands.
How should I care for silver coins?
You can devalue your coins by handling them improperly. Always wash your hands before touching them. For the maximum level of care, handle your coins only with lint-free cotton gloves.
Always hold the coins on the edges, and never on the face. Even imperceptible oils from your fingers can cause damage to the coin’s surface. Store coins properly in display cases, and never put them in vinyl sleeves.
We hope it goes without saying that you should never clean coins. Even tap water can cause a significant amount of damage.
How well can you sell silver coins in an online auction?
Very well. As with so much else these days, many of our coin auctions are held online. A recent example was our highly successful October 2020 online auction of coins from an Orange, MA estate. Many of the coins we sold were silver pieces.
Contact Central Mass Auctions today
If you have any other questions, don’t hesitate to call us or to set up your appraisal today, so you can enjoy the maximum return for your silver coin collection at auction.
