The Best Way to Sell Silver Coins

By Meredith Jameson
Certain silver coins, great value
old silver coin of russia image by Kostyantyn Ivanyshen from <a href='http://www.fotolia.com'>Fotolia.com</a>

Silver coins have been in circulation for hundreds of years and many coins are now considered to be collectors&rsquo; items, based on their history, condition and rarity. The United States mint continues to issue silver coins as commemorative items, and silver coins can be purchased online or through coin collectors or shows. Selling silver coins can potentially offer significant profit for the seller, and there are several different methods of selling silver coins, although the best way to sell the coins is online.

Step 1

Learn about the silver coins in your possession prior to selling to understand the history and value of the coins. Use reference books, such as &ldquo;The Comprehensive U.S. Silver Dollar Encyclopedia&rdquo; by John W. Highfill, that provide detailed photographs and information to become knowledgeable about the coins.

Step 2

Take the coins to an authorized coin dealer to get an appraisal. Locate a dealer who is a member of the American Numismatic Association at Money.org (see Resources). An accurate appraisal will help you determine the value of your coins, which will help you set a listing price.

Step 3

Watch online auction websites, such as eBay.com or Bonanzle.com to see what similar coins are selling at to get an approximate estimate of current market value. This will help you price your coins appropriately, which will help them sell faster.

Step 4

Create a posting on classified websites such as Craigslist.org, which offer online classified ads by city. Click on the desired city, then &ldquo;Post to Classifieds,&rdquo; then &ldquo;For Sale&rdquo; and then &ldquo;Collectibles.&rdquo; Include detailed information and photographs of the coins. When speaking with potential buyers, do not release any personal identification or financial information beyond what is absolutely necessary, and only meet buyers in a public place. Bring someone with you for additional safety.

Step 5

Post the item on an online auction such as eBay.com. Click on &ldquo;Sell,&rdquo; and then &ldquo;Sell an item&rdquo; followed by &ldquo;Start Selling.&rdquo; Create an account if you do not already have one, and then begin creating your post by entering in three keywords about the coins, such as &ldquo;rare silver coins.&rdquo; Select the correct categories that apply to your coins and then click &ldquo;Continue.&rdquo; Fill out the listing form, which will ask for a title, strike type, whether the coin is circulated or uncirculated, mint, certification number and grade. Upload detailed pictures of the coins and add a thorough description of the coins. Set your auction dates, price range, shipping costs and accepted payment forms. Click &ldquo;Continue&rdquo; and then confirm the post.

Step 6

Consider adding a refund or satisfaction policy for potential buyers, as this will increase interest and may result in more offers.