Before you sell silver coins, whether they’re from a collection, estate, or inheritance, we recommend that you do some research so that you can increase your chances of success. Considering that the price of silver has nearly tripled over the past three years, now may be an excellent time to cash in your silver coins, but not all silver coin dealers are created equal, so take your time and consider following these steps before selling silver coins.

* While we’ve already mentioned that not all silver coin buyer are created equal, the same goes for silver coins. In particular, low mintage or rare U.S. silver coins tend to sell for quite a premium due to their collectible value. While the silver content of the coins certainly doesn’t hurt, the primary factors affecting the coin are its scarcity and condition. Not all coin buyers appreciate or are willing to pay a premium for key date coins, so it’s important that you have a good idea of the type of coin dealer you’re considering prior to selling silver coins.

* When you sell silver coins, each type of coin you’re selling requires a slightly different strategy. For example, rare coins such as 1895 Morgan silver dollars will need to be sold on a per coin basis, due to the rarity and demand for these coins. You will need to do your homework by obtaining quotes from more than one coin dealer until you receive a price that meets your expectations. Also remember that the prices of these coins are driven by their low mintage status, which means price quotes can vary greatly depending on who you talk to. Consequently, you stand a better chance of getting a good deal when you talk to more than one coin dealer.

* Another type of silver coin, which is the most commonly purchased and sold coin in the U.S. is the 90% silver, or junk silver coin. These are U.S. coins minted prior to 1965. While plenty of these coins have been minted, as they were circulated as standard currency up until 1965, that in no way devalues these coins. In fact, there are coin buyers that specialize in buying and selling junk silver coins, so it’s important that you don’t accept less than you’re entitled to when you sell these coins.

* The bottomline of any decision to sell silver coins is to find a reputable silver coin buyer that you can do business with on a continuing and regular basis. The success of your efforts will be dictated by establishing a sound partnership with an established company. If you are only starting out, get in touch with local coin dealerships that are known for their transparency and honesty. Research their backgrounds, feedback from previous clients, and business history, as well as getting quotes for specific coin types. This will help you narrow down your options for coin buyers when you decide to sell silver coins.

The coin and precious metals industry offers some tremendous opportunities to reap substantial rewards when you sell silver coins, but it can be challenging – especially when you’re first starting out, so make sure that you do your homework and find the right business partner for you.

So the next time you decide to sell silver coins, make sure that you know exactly what types of coins sell best for which types of coin buyers. Obtain quotes and evaluate them so that you receive the best price for your silver coins. But most importantly, find a reliable business partner that you establish a long term relationship with, which will serve you well no matter the environment when you sell silver coins.

Learn more about the process to follow when you sell silver coins. Stop by Atlanta Gold and Coin Buyers‘ site where you can find out all about the guidelines to follow when selling silver coins.