If you decide to sell your silver coins, then you will need to organize them first. While it may sound like a lot of hassle, the process entails splitting the coins into two groups, namely coins with numismatic value and coinage you will sell for their silver value. If you’re done with organizing your collection, then you’re ready to learn more about the best places to vend your pieces.

• Coin dealers

Coin dealers remain the most popular choice among investors and collectors alike. Then again, keep in mind that not all coin dealers play by the same rules. Finding the contact details of such brokers is as simple as performing a Google search. However, coming across one that is qualified and honest is, in all fairness, a bit trickier. To avoid inconveniences, it would be prudent to conduct several small transactions with the dealer of choice prior to attempting to sell the bulk of your silver coin collection. This way you can learn if the dealer is transparent, experienced and whether he offers competitive rates for your coinage.

• Online brokers

Online brokers have the advantage of ensuring all transactions are simple. However, since the internet is jam packed with unscrupulous individuals, remember to do your homework and make sure the online dealer is reputable. The best approach in this case is to find an online broker who also owns a brick and mortar storefront. You should also come to an agreement regarding the fees in advance, in order to avoid unpleasant surprises.

• Coin collectors

If your collection includes numerous rare silver pieces with numismatic value, then you can try to sell them directly to a coin collector. A quick search on specialized forums and online communities reveals that there are numerous numismatists interested in acquiring specific coins. The advantage of selling directly to a coin collector is that you will bypass dealer fees and get a higher price.

However, unlike a dealer whom you can verify, this option implies the risk of conducting transactions with a person you know nothing about. In addition, if the buyer is from a foreign country, then the process can take a while.

• Scrap dealers

Scrap dealers are the best alternative if you want to sell the junk silver coins primarily. In case your silver coin collection is not extensive, then it would be wise to try to sell the most valuable pieces separately. Without the rare coins to boost the value of your collection, you are better off selling the rest of the pieces for the melt value of the silver. Don’t forget to shop around and find a scrap dealer who can offer good rates.

• Auctions

Online and live auctions seem like the ideal places to sell individual coins as well as completed collections. The disadvantage of auctions is that they can be cost prohibitive sometimes. Moreover, there’s no guarantee that you will manage to reach the target price for your items. Therefore, only use auctions to sell your silver coins as a last resort.