If you’re looking to sell some of your silver coins, knowing what factors are used to determine their value will help you fetch competitive rates. Silver buyers assess the coin’s gram weight, actual silver weight (ASW) and overall condition, among other characteristics. The following guide will provide helpful insights for you before closing the deal on your silver pieces. 

How Silver Coins Are Valued

Nickels

Most nickels, even Buffalo nickels, do not have any silver content. However, if your collection includes Jefferson War Nickels, these coins were produced with some silver. The coins were minted during World War II when nickel was in heavy demand for artillery and weapon production. These war-time coins contain just 35% of silver. War Nickels will be dated 1942-1945 with a D, S, or P mark over the dome of Monticello on the back of the coin, which stands for Denver, San Francisco, or Philadelphia respectively, which shows where the coin was minted or produced. In circulated condition these coins are darker in color than other nickels that do not have silver content.

Dimes, Quarters, and Half Dollars – “Junk Silver”

Prior to 1965, quarters, dimes and half dollar coins were made of 90%  silver. Rare dates/mint marks on these coins carry additional financial leverage such as the 1916 – D dime, the 1932 D & S Washington quarter, or the 1938 D walking Liberty half dollar and a handful of other key dates, which had a low mintage and are more desirable coins for collectors. Depending on silver prices at any given time, the melt value of these coins (what we call “junk silver”) will be higher than the actual face-value of the coins by several times.

Silver Dollars

Morgan and Peace Silver Dollars dated 1878-1904 and 1921-1935 are made of 90% silver with an approximate actual silver weight of ¾ of an ounce. The real value of these coins is based on mint mark, year, condition, and rarity – called numismatic value. Pricing for these coins, buying or selling, is based on the numismatic value rather than simply the intrinsic value of the coin. Dollars minted in the early 1970s do not contain any silver –they are usually copper/nickel clad (unless they come in a special packaging saying so) Eisenhower dollars (or Ike dollars) are just face value – $1 each.  

For those interested in owning pure silver, the American Silver Eagle coin minted each year is one troy ounce (31.103 grams) of .999 fine silver. Owning a group of American Silver Eagles could bring a premium when you need to sell them. They are generally a bit more expensive to buy as they are popular coins to collect. Other non-government issue silver bullion that is marked .999 fine silver will be worth the trading value of silver on the open market. You can usually purchase silver from a local dealer for a few dollars over spot and can expect to receive a dollar or two back of spot when selling to a dealer. 

Since 1987, Ashmore Rare Coins & Metals in Greensboro, NC, has provided professional buying and selling services. Serving the Triad area, the company has extensive experience and knowledge of silver coin values. The team is committed to securing favorable deals using industry certifications and appraisal standards. If you’re wondering about your silver collection’s worth, stop by the center or call (336) 617-7537 with your questions. Visit the website for the full lineup of products and services.