We’re always on the lookout for silver coins, and we can offer great prices to customers who want to sell silver, relinquish their collections. However, there are some significant differences between minted silver coins (of recent manufacture) versus antique silver coins. So, what are they, and how do you know what sort of value your items might hold? To answer this and many more questions, we’ve assembled an article with a few key points.
First, it’s important to note that many venues in which you sell silver in NYC are looking for the scrap value (barring cases in which you’re selling a luxury brand name silver item). This is relevant because in those instances, the buyers might not have much interest in the historical value of a silver coin collection! When the transaction is valued based on the current spot price for silver troy ounces, plus the weight of your item, chances are good that it’s meant for silver scrap sales.
So, what’s the difference here? To start, let’s consider that historically, silver has been used as currency throughout both Europe and the Americas. As such, many people own collections of silver coins that might date back to the Spanish empire, or Silver Dollars from the US mint dating back to the early part of the 20th Century. You don’t want to sell silver in New York like these for scrap! They’re worth more than their metals alone, by virtue of their history.
By comparison, if you’re looking to sell recently minted silver coins (of American, British, or South African manufacture), there is little expectation of a cultural or historical value—these are simply worth their weight, and you can take confidence in selling them along these lines alone.
Similarly, if you’re selling silver jewelry in NYC or elsewhere, you want to consider both the antique and historical value of the items as well as their potential for resale. The fact is, most silver sales aren’t going to result in a profitable resale. When you speak with a silver buyer, they’re likely intending to scrap the item and sell its precious metals only. It’s useful to bear this in mind when looking at prices.
That said, if you selling silver jewelry in NYC is from Tiffany or a similar luxury brand, there’s always a possibility of a higher purchase price based on the fact that it’s likely to be resold. Older or less recognizable jewelry, on the other hand, will most likely retain value only based on the metal (and the current spot price for that metal).
If you have any questions about the value of your silver collection, whether it’s antique silver items, coins, jewelry, or more, you should give our experts a call at 646-736-7321. We can help make the process easy.