Do You Want to Sell Your Silver Coin for Cash? A Few options You Have

It is not easy to sell your silver and get its right value in terms of cash. Whether you have silver coins, ornaments or bars or any silver in scrap form do you know how to get their right value?

Well, we shall discuss all these in this small write up. Most of you must be storing silver as an insurance against sudden cash crunch so that when you are in urgent need then convert it into a cash.

Following are few options that you have in order to convert your silver into cash.

  • Visit any local coin shop

I can visit any coin shop near me and they are usually very quick to pay cash against my silver coins. Therefore, you should be in friendly terms with them and they also let you know if they get any special coin if you are interested in coin collection.

Pros:

  1. Nearby to your home
  2. Get instant cash and no waiting
  3. Can deal face to face
  4. Private transaction and no records
  5. Offers fair price

Cons:

  1. Everybody may not have a shop nearby
  2. Coin shops too want to make profit and hence they may not offer more than melt value
  • Pawn shops

These shops are trading precious metals and in the USA there are about 12,000 shops.

Pros:

  1. Pawn shops are available in all major cities
  2. Instant cash payment
  3. Accepts coins, jewelries, sterling and scraps

Cons:

  1. Offers less price than any coin shop
  2. May not give fair value for any numismatic or rare coin
  • Coin shows

This is a great place where you can find plenty of coin dealers all in one place.

Pros:

  1. You can get lots of different opinion from experts
  2. In case you have any rare coin then there is a lot of demand

Cons:

  1. It does not happen too often
  2. You have to pay entrance fee ranges between $5 to $10.
  • Online dealer

These days this is the most popular way to get cash against your silver items where many dealers visit here and buy.

Pros:

  1. You can choose from plenty of reputed dealers
  2. No need to travel
  3. You may get best price offer

Cons:

  1. Transaction will be recorded
  2. Shipping the costly item is risky and also it is expensive
  3. Payment comes after few weeks

Nowadays you can bid in the auction for silver coins on Ebay where you may get much higher price too.

Post Author: Kacy Tami