How to Sell Silver Dollars
There are eight types of American silver dollars:
- The Flowing Hair (1794-1795)
- Drape Bust Small Eagle (1795-1798)
- Draped Bust Large Eagle (1798-1804)
- Seated Liberty (1836–1873)
- Trade Silver Dollars (1873–1885)
- Morgan Silver Dollars (1878–1904; 1921)
- Peace Silver Dollars (1921–1935)
The most common that are traded for cash are the Morgan Dollars and Peace Dollars.
These dollars have a total weight of .86 ounces and are 90% pure silver, meaning each dollar as a silver content of .774 ounces, or just a little over 3/4 of an ounce of silver.
The process of selling silver dollars is really quite simple, certainly more simple than selling many other forms of gold and silver. All one needs to do is:
1) Determine that you have actual silver dollars. This can be easily done by comparing your coin(s) to pictures of silver dollars online. There are some generic 1 ounce silver bullion “rounds” that are similar in appearance to silver dollars. An easy way to tell the difference is that the silver rounds will display “One Ounce” on them and will not have any denomination, while the dollars will have the “One Dollar” denomination.
2) Determine how many dollars you wish to exchange for cash.
3) Determine the current value of your Peace Dollars or Morgan Dollars. This can be done by checking on various websites that advertise that they purchase silver dollar coins. A word of warning though… be sure that there are no “minimums” required in the fine print. Many buyers display prices based on a minimum purchase amount of $10,000 or more. It would be highly unusual for the average seller to sell that many silver dollars at one time.
4) Do due diligence on the buyer you have chosen. Are they accredited with the Better Business Bureau? What is their BBB Rating? Do they have a history of consumer complaints? Finding this out ahead of time can avoid a disastrous transaction.
5) Once you have chosen the buyer, complete the registration process and be sure you have a means to print a packing slip to include with your items. Pack the dollars securely in such a way that they will not move about during transit. We recommend taking advantage of the USPS Priority Mail Flat Rate Box program. We also suggest adding insurance to your package.
At the Silver and Gold Exchange, we purchase silver dollars in any condition. We publish our pricing on our live price chart and we are a Better Business Bureau Accredited, A+ Rated Buyer with zero consumer complaints ever. We have been purchasing Morgan and Peace Dollars since 2007. We do not have minimum purchase limitations and our process is fast, easy and private.
We are always happy to assist you in any aspect of the selling of your silver dollars and we also offer a Best Price Guarantee so you can rest assured that you are getting the very best price for your dollar coins.
Now you know exactly how easy it can be to sell silver dollars. If you have any questions whatsoever, please let us know. We are here to help!
Find out the current rates to sell silver dollars.