How to Sell Old Coins: Where and How to Get Fair Value

To sell old coins for a fair price, first figure out what you actually have, then work out each coin's melt value, set aside anything that might be worth more to collectors, and get at least two written offers before you agree to anything. Most old US coins sell for their metal, so knowing melt value is your floor. The better pieces sell on date, mint mark and condition, and those deserve a specialist.

That's the whole game in four moves. The rest of this guide walks through each one, with the numbers you need and the mistakes that cost sellers the most money.

Step 1. Sort what you have before anyone sees it

Spread the coins out on a towel at the kitchen table. Don't rinse, polish or rub them. Cleaning a coin can wipe out most of its collector value in seconds, and dealers spot it immediately. Our guide to coin cleaning mistakes that destroy value explains why.

Now make four piles:

• Gold. Any US gold coin, plus bullion like Gold Eagles, Buffalos, Maple Leafs or Krugerrands.
• Silver. Dimes, quarters and halves dated 1964 or earlier, 1965 to 1970 Kennedy halves (40% silver), 1942 to 1945 war nickels, Morgan and Peace dollars, and silver bullion.
• Old copper and nickel. Wheat pennies, Indian Head cents, Buffalo nickels and similar.
• Modern clad and zinc. Post-1964 dimes and quarters, post-1970 halves, small dollars and post-1982 pennies. These are usually worth face value.

If you aren't sure whether a coin is silver, check the edge. A solid silver-colored edge points to 90% silver; a copper stripe means a clad coin. Our quick silver tests cover weight and other checks.

Step 2. Work out the melt value of each pile

Melt value is the floor. It's what the metal in a coin is worth at today's spot price: weight × fineness × spot. Dealers buying for metal usually pay somewhat below melt, and nobody sensible should sell a silver or gold coin for less than a reasonable share of it.

Here are the per-coin figures for the most common old coins at today's prices:

For a mixed pile, the fastest route is our calculator. Pick each coin type, enter how many you have, and it totals the metal value at live spot prices.

For a bag of mixed 90% dimes, quarters and halves, think in face value. Every $1 face of 90% coins holds about 0.715 troy ounces of silver once you allow for wear, which is worth about $37.23 at today's price. The coin melt value calculator handles that maths for you.

A worked example

Say your grandfather's cigar box holds $10 face value in 1950s silver quarters (40 coins), four Morgan dollars and a roll of wheat pennies. For round numbers, say silver is $40 an ounce.

• 40 quarters × 0.18084 ozt = about 7.23 ozt, worth about $289 in metal.
• 4 Morgans × 0.77344 ozt = about 3.09 ozt, worth about $124 in metal.
• The wheat pennies are copper, so their metal value is small. Their value, if any, comes from dates and condition.

So the box holds roughly $413 of silver in this example. If a dealer offers 90% of melt for the quarters, that's about $260 for those. You now know that a $150 offer for the whole box is far too low.

Step 3. Pull out coins that could beat melt

Some old coins are worth well beyond their metal. Before selling anything as "junk," look for the signs of a collectible:

• Sharp detail, original luster and little wear.
• Scarcer dates and mint marks. A small letter such as CC, O, S or D can change a coin's value a great deal. Morgan dollars struck at Carson City (CC) are a well-known example.
• Errors, such as a 1943 penny that is copper colored and doesn't stick to a magnet. Most are fakes, so get one authenticated.
• Gold coins in nice condition, which often carry a premium over melt.

We don't list collector prices here, because they shift and depend heavily on grade. For a real number, look the coin up in a current price guide or show it to a reputable dealer. Our list of coins worth checking before you sell for melt shows what to look for.

For most people, the right split is simple: worn, common silver sells by weight; anything sharp, early, or with an unusual mint mark gets a second look from a specialist.

Step 4. Choose where to sell

Different buyers suit different coins. Here's a quick map:

Our breakdown of where to sell silver coins compares coin shops, online dealers, pawn shops and marketplaces in more detail.

Step 5. Get quotes the right way

Dealers buy below what they sell for. That gap, the spread, is how they stay in business. Your job isn't to eliminate it; it's to make sure it's reasonable. Our explainer on how coin dealers price coins shows where offers come from.

1. Bring an itemized list. Coin type, date, mint mark and count. It shows you've done your homework.
2. Ask for an offer per coin or per category, not one lump sum for everything. Lump offers hide lowball pricing on the good pieces.
3. Ask how they priced it. For silver, "what percentage of melt?" is a fair question.
4. Get at least two quotes. Prices move through the day, so compare quotes taken close together.
5. Don't feel rushed. A good dealer will let you walk out and come back.

Stay safe and keep records

Selling coins means handling cash or valuables, so treat it like any large transaction:

• Meet buyers at a shop or a public, well-lit place, never your home.
• Don't announce what you're carrying on social media or to strangers.
• Get a written receipt listing every coin and the price paid.
• Keep any records of what you or the original owner paid.

Coins are treated as collectibles by the IRS, and a gain may be taxable. Dealers may also have to report some sales. Read our guide to taxes on selling coins and confirm your situation with a tax adviser.

Your selling checklist

• Sort into gold, silver, old copper/nickel and modern clad. Don't clean anything.
• Total the melt value of the silver and gold at today's prices.
• Set aside sharp, early, error or unusual mint mark coins for a collector look.
• Pick the right venue for each pile.
• Get two or more itemized quotes, compared against melt.
• Sell somewhere safe, get a receipt, and keep your records for tax time.