My grandparents just sold their house and moved into a “senior living” apartment complex. In helping pack up the house, my dad came across a box full of silver dollars – a couple dozen, ranging from 1888 to 1934 (there are about 10 from 1921), which my grandfather had evidently collected during his days running a general store. Some of them are worn fairly badly, others are really pretty pristine. Does anyone have any advice on how to value these things? Should we sell them? Will they increase in value as quickly as another type of investment? What should we do with these (really cool) old silver dollars?
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- I got a silver one from --ehhhh… 1927, I think, when I was working at a gas station. The guy at the local coin shop said they bought for ~$5 and sold for ~$10. For $20 he had some from the same era, uncirculated–in perfect condition, when mine was obviously less-than-perfect. So for the most part, you’re not going to find a silver coin worth “X” and be able to selll it for “100X”, or probably even “10X”. Gold coins are worth much more, as gold is.
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- And nowadays, the easiest way to value anything common is to watch Ebay auctions.
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Few silver dollars are worth anything, unless you have a rare date. Check the mintage numbers to see if you have any that had very limited production runs, even then, it would have to be in very good shape to be worth anything, if it is badly worn, there is no market for those.
(even older) Silver dollars were in general circulation until 1965, you could go to the bank, or las vegas and get all you wanted for a dollar.
I agree, gold coins are much better, and prettier.
Apparently you have never actually looked into this. The silver content alone will insure a value greater than the face value of the coin. Collector vaqlues may be substantially more particularly if the coin is in good shape. Learn, THEN comment
I found a local coin dealer who offered to rate my inherited collection for free. Check the yellow pages, you should be able to find someone who can give you expert advice. Most of the experts are honest, but get two opinions anyway.
Bad news for you. They’re absolutely worthless. Just get rid of them. . .
I’ll even compensate you for the postage.
Apparently you misunderstood what I was trying to say. I didnt mean they were totally “worthless”, like in “zero”. I meant they were worthless as far as being “rare coins”. Most silver dollars are NOT rare coins. In the coin store where I buy gold, you can buy almost any date from 1878 to 1934, for $9 each. If the coin store DID buy your dollars, they would only give you about $5 a piece. Silver dollars are pretty much a commodity that trade on silver content. Only those silver dollars which had low production runs, are “worth” anything as a collectable.
Go to the bookstore, and look in the shelves set aside for hobbies. There are numerous books out there that help the inexperienced collector identify and estimate the value of old coins.
Thisis a pretty good place where you can get an idea what your dollars are worth. Lot of info on coins.
We currently buy common dollars for $6.50 each. As a matter of interest, they contain $3.75 worth of silver at todays silver spot of $4.50/ounce.
All of your 1922-1926 dollars are worth $6.50. Period. That’s it. These are the most plentiful. Your 1921’s are also worth $6.50 each, assuming you don’t have a 1921 that looks different. You need a 1921 that looks like one of your 1922’s. Then it’s worth $20-50.
If any of your coins from the 1800’s has a “cc” mintmark(located above the “D and O” in the word dollar down at six o’clock on the eagle side), then they are worth $20 or more in poor condition. $80 and up for new ones. Some dates are much rarer.
If you have an 1893 or 1895, even in worn condition, then you have a good coin. Maybe worth only $50, but sometimes into the hundreds in better conditon.
If you have a 1928, and it does NOT have a mintmark(at 8 o’clock near the rim on the eagle side) then it’s worth over $100 in any condition.
try ebay.com & see what people are paying for them.
samclem, that’s exactly what I was looking for. Thank you!
(And thank you too, handy, very helpful!)
Pre '65 silver coins essentially sell by weight based on a “bag” of coins, which is a nominal $1000 face value, and is priced based on the silver content. . More likely the coins you have are worn and worth only the solver content. Of course, there is always a small chance you have a rare coin. Unlikely, but possible. It doesn’t hurt to have an appraisal done. Get at least three.