Selling Silver Dollars the Smart Way
Maybe you inherited a coffee can of old Morgan dollars, found a canvas bag in a relative’s closet, or are settling an estate with albums of Peace dollars and a few older coins nobody can identify. Either way, knowing how to sell silver dollars is the difference between a fair price and money left on the table. Silver dollars are easy to sell. Selling them well takes a little homework.
Founded in 1990, American Rarities has purchased more than $350 million in rare coins and collectibles, including hundreds of thousands of U.S. silver dollars. This guide walks you through the same steps we would follow if the coins were our own: figuring out what you have, separating melt-value coins from collector coins, protecting their condition, choosing the right buyer and getting paid safely. If you already know you are ready to sell, our Sell Silver Dollars page explains our offer process, and our guide to selling gold coins covers gold.
Step 1: Know Which Silver Dollars You Have
The United States has struck silver dollars since 1794, and each design is valued differently. Before you ask anyone for a price, sort your coins by type. A buyer who treats every old dollar alike is not looking closely enough. Our U.S. silver dollar information page covers the history of each design in more detail.
Early Dollars (1794 to 1803)
Flowing Hair and Draped Bust dollars are among the most sought-after American coins. Survivors are scarce in any condition, and even worn or damaged examples are valued as collectibles first. If you have one, do not sell it by weight.
Seated Liberty Dollars (1836 to 1873)
Gobrecht and Seated Liberty dollars were struck in small numbers compared with later dollars, and many dates are scarce. Look closely at the mint mark, too: Seated dollars from New Orleans (O), San Francisco (S) and Carson City (CC) are worth a careful appraisal.
Trade Dollars (1873 to 1885)
Trade dollars were made from 1873 to 1885 for commerce in Asia and often show small Chinese merchant stamps called chopmarks, which collectors value in their own right. They are slightly heavier than other U.S. silver dollars and say TRADE DOLLAR on the reverse.
Morgan Silver Dollars (1878 to 1904 and 1921)
The Morgan dollar is the most widely collected U.S. coin. Millions survive, so common dates in circulated condition trade close to their silver value, while key dates such as the 1893-S and high-grade pieces can be worth many times more. Our rare Morgan silver dollar page lists the dates to watch for.
Carson City Dollars (1870 to 1893)
The Carson City Mint in Nevada struck Seated Liberty, Trade and Morgan dollars, each with a small CC mint mark, and it made far fewer coins than the other mints. Carson City dollars carry a premium over most common dates. Between 1972 and 1980, the government also sold Carson City Morgan dollars from the Treasury in black plastic holders, known as GSA dollars. Keep those coins in their original holders, boxes and cards, because the original GSA packaging is part of what collectors pay for.
Peace Dollars (1921 to 1935)
Peace dollars were struck to mark the end of World War I. The 1921 high relief, the 1928 and several San Francisco and Denver dates bring strong premiums, especially in mint state.
Eisenhower Dollars (1971 to 1978)
Most Eisenhower dollars contain no silver, but the 1971 to 1976 collector issues from San Francisco are 40% silver, usually in blue or brown government packaging. Keep those coins in their original packaging, because collectors pay more for complete, original sets.
Step 2: Check the Date, Mint Mark and Condition
Two silver dollars of the same design can be worth very different amounts. The date and mint mark tell you how many were made and where, and the condition tells you how well the coin survived.
Find the mint mark. On Morgan dollars, the mint mark sits on the reverse, just below the wreath and above the letters DO in DOLLAR. On Peace dollars, look on the reverse at the lower left, below the word ONE and near the tip of the eagle’s wing. On Seated Liberty and Trade dollars, it is on the reverse, below the eagle. A coin with no mint mark was struck in Philadelphia. Pay special attention to CC (Carson City), which struck far fewer coins than the other mints, and to scarce San Francisco (S), New Orleans (O) and Denver (D) dates.
Morgan dollar mint marks, left to right: CC (Carson City), O (New Orleans), S (San Francisco), D (Denver) and no mint mark (Philadelphia).
Understand melt value and collector premium. Morgan, Peace and earlier U.S. dollars are 90% silver, and each holds about 0.77 troy ounces of pure silver. That silver content sets a floor on value that rises and falls with the spot price. Our 90% silver coins value page explains the math. On top of that floor, collectors pay a numismatic premium for scarcity and condition. For a common circulated Morgan that premium may be small. For a key date or a coin with full mint luster, it can be the largest part of the value, often well above melt. Our U.S. silver dollar values guide and our Morgan silver dollar price guide show how date, mint mark and grade work together.
Look at the condition. Check the high points, such as Liberty’s cheek and hair and the eagle’s breast, for wear. Original luster, few bag marks and attractive natural toning all add value. Our coin grading guide explains the 1 to 70 scale that dealers and grading services use.
Note any certification. If your dollars are already graded by PCGS, NGC or ANACS, the grade and certification number are printed on the holder, which makes a sale simpler. You do not need to grade raw coins before you sell. We grade them as part of our free appraisal, and our guide to selling PCGS, NGC and ANACS coins explains when certification is worth it.
Step 3: Protect Your Coins Before You Sell
The most common way sellers lose money is by trying to improve their coins. A few simple rules protect what you have:
- Never clean silver dollars. Polishing, dipping or rubbing off toning leaves fine hairlines and strips the original luster, and collectors notice right away. A cleaned Morgan can lose much of its premium. Read why cleaning your coins is not recommended.
- Handle coins by the edges, over a soft surface, and avoid touching the faces with bare fingers.
- Keep coins in their holders, albums, flips, tubes or original packaging. Never break a certified coin or a GSA dollar out of its holder.
- Do not open original bags or rolls. An unopened mint bag or original bank-wrapped roll can be worth more intact.
- Save the paperwork. Receipts, certificates and old dealer invoices help us understand what you have.
Watch for counterfeits. Morgan and Trade dollars are among the most counterfeited U.S. coins, and fakes turn up in collections, online listings and even in holders that look official. Our fake coin pictures page and our guide to fake, counterfeit and altered coins show what to look for, and our Fake United States Rare Coins board on Pinterest collects more real examples. Authentication by an experienced dealer protects you as a seller, too.
Step 4: Make a Simple List and Take Photos
You do not need to be an expert to get an accurate appraisal. A short list helps any buyer give you a faster, more accurate offer. For each coin or group of coins, write down:
- The type, such as Morgan, Peace or Seated Liberty
- The date and mint mark
- How many you have
- Whether the coin is certified, and if so, the grading service, grade and certification number
Then take clear photos of both sides of each coin in natural light, without flash, with the coin filling most of the frame. For certified coins, a photo of the front of the holder is usually enough to get started. Our guide to which photos to take shows exactly what helps us appraise your coins.
Rolls, bags and large groups. You do not need to photograph every coin in a roll of 20 or a bag of 1,000. Tell us roughly how many you have, the types and any dates you know, and send a few sample photos. We buy single coins, rolls, silver dollar bags and complete collections.
Inherited collections. If you are settling an estate, a general description is fine to start, and you do not need to sort everything first. Our article on how to sell an inherited coin collection and our step-by-step guide on how to sell inherited coins walk you through the process, our guide on how to sell paper currency covers any old bills in the estate, and our estate appraisals and liquidation team can help with the rest.
Text your photos to 720-600-4740, email your list to staff@americanrarities.com, or send them with the form at the bottom of this page.
Step 5: Choose the Right Buyer
Where you sell matters as much as what you sell. Pawn shops, jewelry stores and many “we buy silver” storefronts price every old dollar by weight. That can be fine for worn common dates, but for a Carson City coin, a key date or a high-grade Morgan or Peace dollar, a melt-only offer can leave a large share of the value behind. Online auctions reach collectors, but they come with seller fees, photography, shipping risk and the chance of a non-paying buyer.
A specialist silver dollar buyer pays for collector value as well as silver content. Whoever you consider, ask these questions:
- Will they give you a written offer that lists each coin or group?
- Do they pay for date, mint mark and grade, or only for silver weight?
- How long have they been in business, and what do their reviews say?
- Are they authorized dealers for the major grading services?
- How and when will you be paid?
American Rarities checks every box. We hold a 4.7-star Google rating and an A+ rating with the BBB, we are ANA Life Members, and we are an authorized PCGS, NGC and ANACS dealer. You can read what other sellers say on our customer testimonials page. Our articles on mistakes to avoid when selling rare coins and what to avoid when selling 90% silver coins cover other common pitfalls. Have silver dimes, quarters and halves too? See how we buy 90% silver coins.
Step 6: Get a Written Offer and Get Paid
Once we review your photos or list, we give you a free, no-obligation written offer. For scarce dates, Carson City coins and high-grade dollars, our offers are often well above melt, because we pay for the date, mint mark and grade, not just the silver. Prices for rare silver dollars fall in wide ranges depending on condition, which is why we look at every coin individually instead of quoting a flat rate. Common circulated dollars are priced from the current silver market, so you always know where the floor is.
When you are ready, there are two easy ways to complete the sale:
- Mail-in: Pack your coins securely and ship them to us, fully insured at our expense.
- In person: For larger collections, bags or estates, we can meet you at your bank, a safe and private setting for both of us.
When you accept our offer, we pay you immediately by cash, check, ACH or wire, whichever you prefer. If you decline, we return your items fully insured. There is never a fee for our appraisal.
Selling silver can raise tax and reporting questions, and the rules differ from state to state. Our guide to coin and bullion laws by state is a good place to start. If you need a formal valuation for an estate, a trust or a charitable gift, ask about our IRS-approved numismatic appraisals.
Ready to Sell Your Silver Dollars?
Whether you have one Morgan dollar or a full bag, the steps are the same: know what you have, protect it, document it and work with a buyer who pays for everything your coins are worth. We have helped families, collectors and estate executors sell silver dollars since 1990, and we would be glad to help you.
Ready to start your free, no-obligation appraisal?
- Text photos to: 720-600-4740
- Email an inventory list to: staff@americanrarities.com
- Submit our secure contact form below, or start with a free online coin appraisal.
Prefer to talk first? Visit our contact a rare coin buyer page.
How to Sell Silver Dollars: Frequently Asked Questions
What is the best way to sell silver dollars?
Start by sorting your coins by type, such as Morgan, Peace, Seated Liberty and Trade dollars, then get a written offer from a specialist dealer who pays for collector value as well as silver content. Comparing written, itemized offers is the best way to know you are being paid fairly.
Are my silver dollars worth more than melt value?
Often, yes. Common circulated Morgan and Peace dollars usually sell close to their silver value, while key dates, Carson City coins, early dollars and coins in high grades can be worth well above melt. We look at every coin before we make an offer.
How much silver is in a Morgan or Peace dollar?
Morgan and Peace dollars are 90% silver and contain about 0.77 troy ounces of pure silver each. That silver content sets the floor on their value, and collector demand can add a premium on top.
Do I need to get my silver dollars graded before I sell them?
No. We buy raw silver dollars as well as PCGS, NGC and ANACS certified coins, and we grade your coins as part of our free appraisal.
Should I clean my silver dollars before selling them?
No. Cleaning leaves hairlines, removes original luster and natural toning, and can sharply lower a coin’s value. Sell your coins as they are.
Do you buy rolls and bags of silver dollars?
Yes. We buy single coins, rolls of 20, original bags of 1,000 and complete collections. Leave original bags and rolls unopened, and send us a description and a few photos to start.
How do I get paid when I sell silver dollars to American Rarities?
When you accept our offer, we pay you immediately by cash, check, ACH or wire, whichever you prefer.
Can I sell silver dollars by mail?
Yes. You pack your coins and ship them to us fully insured at our expense. If you decline our offer, we return your items fully insured.
Free Silver Dollar Appraisal and Offer
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Email: staff@americanrarities.com | Text: 720-600-4740
