Tips on How to Sell Morgan Silver Dollars
If you're in the market to sell Morgan silver dollars, we recommend that you read the following article, which provides a bit of history on the coins as well as some helpful guidelines when selling your coins.
Morgan silver dollars were first minted in 1878 following the passage of the Bland-Allison Act, which was implemented for the purposes of establishing a new U.S. dollar coin. They were minted through 1904, and again in 1921, which was the last year of mintage. Designed and named after George Morgan, who oversaw the design and mintage of these coins, Morgan silver dollars are some of the most recognized U.S. silver dollars the world over, helping to make it a liquid market if you've made the decision to sell Morgan silver dollars.
All in all, there were five known mint locations for the Morgan silver dollar. These are San Francisco, Denver, Philadelphia, New Orleans, and Carson City. One of the first steps that you need to do when you decide to sell Morgan silver dollars is to try to determine the exact mint, date, and condition of the coins that you have. These are very important determinants for the coin's final sale value. For example, the 1895 Morgan silver dollar is one of the rarest silver dollars available so much so that some examples graded in MS68 condition are known to sell for as much as $120,000 in auctions.
While we're on the subject of 1895 Morgan silver dollars, two other mints, the San Francisco and New Orleans mints, produced Morgan silver dollars in the same year. These coins carry with them a premium over common date circulated condition Morgan silver dollars, but still fall well short of the type of demand and pricing that an uncirculated 1895 Morgan silver dollar from the Philadelphia mint has been known to command.
When you decide to sell Morgan silver dollars, take note of these tips to try and maximize your profit when selling Morgan silver dollars.
1. Always have your coins evaluated or appraised by an established coin dealer that conducts coin appraisals. He may do this for free or for a fee. The important thing is to get a realistic value for the price of your coins which will form the basis of your subsequent decision to sell. For the most part, many family-owned coin dealerships do appraisals for free.
2. Try to see if the appraised value is the same across several coin dealers. Don't be content by receiving only one quote - especially if it appears on the low side; rather, check with a few coin buyers to gain an idea of the approximate value of your Morgan silver dollars.
3. Another good option, especially with this day and age of the internet being so prominent in our lives, is to send your coins to an online coin dealer for an evaluation or appraisal if you're interested in possibly selling your coins online. If their offer is accepted, it's common for online coin dealers to reimburse you a portion of your shipping fees.
4. Try to avoid coin auction sites wherever possible. The listing fees are oftentimes too expensive to justify the transaction. In most cases, you get the same, if not a higher value for your coins by transacting with a local dealer.
With the demand for silver dollars, the decision to sell Morgan silver dollars could not have come at a more opportune time. Check to see if you have Morgan silver dollars in your coin collection, from an estate, or as an inheritance. Have them evaluated, select a coin dealer that offers competitive prices, and cash them out for top dollar.
Morgan silver dollars were first minted in 1878 following the passage of the Bland-Allison Act, which was implemented for the purposes of establishing a new U.S. dollar coin. They were minted through 1904, and again in 1921, which was the last year of mintage. Designed and named after George Morgan, who oversaw the design and mintage of these coins, Morgan silver dollars are some of the most recognized U.S. silver dollars the world over, helping to make it a liquid market if you've made the decision to sell Morgan silver dollars.
All in all, there were five known mint locations for the Morgan silver dollar. These are San Francisco, Denver, Philadelphia, New Orleans, and Carson City. One of the first steps that you need to do when you decide to sell Morgan silver dollars is to try to determine the exact mint, date, and condition of the coins that you have. These are very important determinants for the coin's final sale value. For example, the 1895 Morgan silver dollar is one of the rarest silver dollars available so much so that some examples graded in MS68 condition are known to sell for as much as $120,000 in auctions.
While we're on the subject of 1895 Morgan silver dollars, two other mints, the San Francisco and New Orleans mints, produced Morgan silver dollars in the same year. These coins carry with them a premium over common date circulated condition Morgan silver dollars, but still fall well short of the type of demand and pricing that an uncirculated 1895 Morgan silver dollar from the Philadelphia mint has been known to command.
When you decide to sell Morgan silver dollars, take note of these tips to try and maximize your profit when selling Morgan silver dollars.
1. Always have your coins evaluated or appraised by an established coin dealer that conducts coin appraisals. He may do this for free or for a fee. The important thing is to get a realistic value for the price of your coins which will form the basis of your subsequent decision to sell. For the most part, many family-owned coin dealerships do appraisals for free.
2. Try to see if the appraised value is the same across several coin dealers. Don't be content by receiving only one quote - especially if it appears on the low side; rather, check with a few coin buyers to gain an idea of the approximate value of your Morgan silver dollars.
3. Another good option, especially with this day and age of the internet being so prominent in our lives, is to send your coins to an online coin dealer for an evaluation or appraisal if you're interested in possibly selling your coins online. If their offer is accepted, it's common for online coin dealers to reimburse you a portion of your shipping fees.
4. Try to avoid coin auction sites wherever possible. The listing fees are oftentimes too expensive to justify the transaction. In most cases, you get the same, if not a higher value for your coins by transacting with a local dealer.
With the demand for silver dollars, the decision to sell Morgan silver dollars could not have come at a more opportune time. Check to see if you have Morgan silver dollars in your coin collection, from an estate, or as an inheritance. Have them evaluated, select a coin dealer that offers competitive prices, and cash them out for top dollar.
About the Author:
Looking to find the best deal when you sell Morgan silver dollars, then visit www.atlantagoldandcoin.com to find the best advice when selling Morgan silver dollars and how to receive the most for your coins.
posted by Vittoria @ November 26, 2011
0 Comments
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home