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A Guide to Selling Your Junk Silver Coins for the Best Price Locally

If you have a bag of old dimes, quarters, and half-dollars dated 1964 or earlier, you're not holding onto just spare change—you're holding onto silver. These coins, often called "junk silver," are 90% silver and are actively bought and sold for their precious metal content. Selling them can be a great way to get cash, but it's crucial to know how to get a fair price. This guide will explain what junk silver is, how it's valued, and who the best local buyers are.

What is "Junk Silver"?

"Junk silver" is a term for common, circulated silver coins that have no collectible or numismatic value. Their value is based solely on the amount of silver they contain. The most common US junk silver coins are:

• Dimes, quarters, and half-dollars dated 1964 and earlier (90% silver)
• Kennedy half-dollars dated 1965-1970 (40% silver)
• "War Nickels" dated 1942-1945 with a large mint mark on the back (35% silver)

Who Buys Junk Silver Locally? The Best and Worst Options

You have several local options for selling your coins, but the price you get will vary dramatically.

• 1. Local Coin Shops ( Best Option )

  A dedicated coin and bullion dealer is, by far, the best place to sell your junk silver. Their entire business is based on buying and selling precious metals. They are experts who can quickly identify your coins and will offer the most competitive multiplier based on the live market price.

  Why they're the best: They offer the highest prices, the process is transparent, and they are knowledgeable professionals who provide instant payment.

• 2. Jewelers

  Many jewelry stores buy scrap gold and silver. They can be a decent option, especially if you don't have a dedicated coin shop in your town.

  Why they're second best: They are reputable, but their primary business isn't coins. Their payout multiplier will likely be slightly lower than a coin shop's because they are a middleman who will resell the silver.

• 3. Pawn Shops

  Pawn shops will buy almost anything of value, including junk silver. They are a fast and convenient option if you need cash immediately.

  Why they're a poor choice: You will get the lowest price at a pawn shop. Their business model requires buying low and selling high. They will offer a significantly lower multiplier on your coins' face value (sometimes as low as 50-70%) compared to a coin shop or jeweler. This should be considered a last resort.

• 4. "We Buy Gold" Stores

  These pop-up or strip-mall stores advertise heavily to buy precious metals from the public. You should be extremely cautious with these businesses.

  Why they should be avoided: Like pawn shops, their business model is based on a large profit margin. They are known for lowball offers and sometimes use high-pressure tactics. An established, permanent coin shop is always a safer and more profitable choice.

A Step-by-Step Guide to a Successful Local Sale

1. Sort Your Coins: Separate your coins by denomination (dimes, quarters, halves). Then, separate the 90% silver (1964 and earlier) from the 40% silver (1965-1970 half-dollars). This will make the process faster and show the dealer you've done your homework.
2. Know the Approximate Value: You don't need to be an expert, but have a rough idea of the value. Search online for "junk silver value calculator." Websites like Coinflation.com provide a live melt value calculator. This will tell you the base metal value, so you'll know if an offer is fair.
3. Call at Least Two Coin Shops: Before you go anywhere, call two different local coin shops. Ask them, "What is your current multiplier for 90% silver dimes and quarters?" or "What are you paying per dollar of face value for 90% silver?" One shop might be paying "18.5 times face" while another is paying "19 times face." This 5-minute phone call can make a real difference in your payout.
4. Visit the Shop with the Best Rate: Go to the shop that offered the highest multiplier. They will weigh your coins or quickly count the face value and give you a total. The transaction is usually quick, and you will be paid in cash or with a check. You will need to show your ID for the transaction.

Conclusion: Sell to an Expert for the Best Price

The old silver coins in your drawer are a valuable commodity, and selling them is a great way to unlock their value. While pawn shops and online marketplaces are options, they come with lower prices or higher risks. To ensure you get a fair, immediate payout based on the current market value of silver, your best and safest option is to sell directly to a reputable, local coin and bullion dealer. A little bit of research and a few phone calls can ensure you get the most cash for your coins with the least amount of risk.