Is now a good time to sell silver coins? How to decide for yourself

Start with what your coins are worth today

Before deciding when to sell, find out what you are deciding about. Work out the melt value of your silver coins at today’s spot price:

• 90% dimes, quarters and halves dated 1964 and earlier: face value x 0.7234 troy ounces x spot.
• 40% halves dated 1965 through 1970: count x 0.1479 troy ounces x spot.
• Morgan and Peace dollars: count x 0.7734 troy ounces x spot.
• Silver Eagles: about one troy ounce each, so count x spot.

Write the total down. If it is a figure that would make a real difference to you now, that matters more than any guess about next year. If it is small, there may be no reason to hurry either way.

Separate the coins whose value does not follow spot

Timing only matters for coins valued as metal. A coin with collector value, such as a scarce date, a well-kept silver dollar or a coin in a graded holder, is priced mostly on what collectors want, not on that day’s spot price. So sort your coins first: the common silver in one group, anything that might be collectible in another. Our guide on how to sell silver coins explains how to tell them apart, and where to sell silver dollars covers the coins where this matters most.

Questions to ask yourself

1. Do I need the money for something specific? A planned expense is a better reason to sell than a hunch about the market.
2. Am I holding the coins on purpose? If you bought silver to hold for the long term, a short-term move in spot may not change that plan.
3. Are these coins doing anything for me? Inherited coins in a drawer earn nothing and need safe keeping. Some people would rather have the value.
4. Would I regret selling if silver rose? Or regret holding if it fell? If both feel the same, consider selling part.
5. Have I sorted out ownership? Coins from an estate should be sold by whoever has the right to sell them.

Selling in parts

You do not have to sell everything at once. Some sellers sell part of their common silver, keep the rest, and take their time over the collectible coins. Selling in parts spreads your sale over different spot prices, so no single day decides the whole result. It also lets you test buyers on a small lot before you bring them the rest.

Taxes can matter more than timing

A profit on coins may be taxed as a capital gain. The IRS says net capital gains from selling collectibles, such as coins, are taxed at a maximum 28% rate (IRS Topic 409). Some larger sales of certain bullion coins and bars may be reported by the dealer on Form 1099-B; most small sales of single coins are not. How and when you sell can change what you owe, so ask a tax professional before a large sale.

What a good day to sell looks like

For most sellers, a good time to sell is simply a day when they are prepared. That means:

• Your coins sorted, with collectibles set apart.
• Your melt value worked out at that day’s spot.
• Two written offers on the same coins, close together in time.
• Photo ID ready, and no one hurrying you.

Spot will be whatever it is that day. What you control is knowing your numbers and comparing offers, and that is the part of a sale you can prepare for. The full checklist is in how to sell silver coins.

Where To Sell Silver Coins is an independent referral service, not a buyer, pawnshop or dealer. When you call or send your coin list, we pass your details to an independent buyer in New York, who makes any offer, and you are never obliged to sell.

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