Silver coins occupy a unique space in the precious metals market — they're part numismatic collectible, part commodity, and part investment vehicle. Many Connecticut Shoreline families have inherited silver coin collections without knowing exactly what they have or how to value it. This guide walks you through the categories of silver coins we buy, how we test them, and how we price them.
Categories of Silver Coins We Buy
- Junk silver — US dimes, quarters, and half dollars dated 1964 and earlier (90% silver content). No collector premium, but significant metal value at current silver prices
- Morgan Dollars (1878–1921) — 90% silver, many dates command collector premiums beyond melt
- Peace Dollars (1921–1935) — 90% silver, popular with collectors, some key dates are very valuable
- Eisenhower Dollars (1971–1978) — standard business strikes are copper/nickel; 40% silver proofs and uncirculated S-mint coins exist
- American Silver Eagles (1986–present) — 1 oz .999 fine silver, extremely popular
- 90% silver commemoratives (pre-1954) — half dollars and dollars from special issues
- Foreign silver coins — many 20th century world coins are 80% or 90% silver, particularly Canadian, Mexican, and British issues
How We Test Silver Coins
For silver coins, our Sigma Metalytics scanner is the primary testing tool. The device identifies 90% coin silver, .999 fine silver, and 40% silver instantly and non-destructively — no scratching, no acid, and no risk of damage to potentially valuable coins. It also immediately flags counterfeit silver Eagles and fake Morgan dollars, which are unfortunately common in the collector market.
Counterfeit Morgan dollars and Silver Eagles are widespread — many are convincing to the naked eye. The Sigma Metalytics scanner identifies them in seconds, protecting you from unknowingly selling a fake (or unknowingly holding one in your collection).
How We Price Silver Coins
Pricing depends on the type of coin and its condition:
- Junk silver: priced at a percentage of spot based on the 90% silver content. At $63/oz silver, a $1 face value of junk silver contains approximately 0.715 troy oz of silver — worth roughly $44 in melt value
- Common-date Morgan and Peace Dollars in circulated grades: we compare melt value against current bid prices from major numismatic dealers and pay whichever is higher
- Key dates and high-grade examples: we assess collector value and pay the numismatic price if it exceeds melt
- Silver Eagles: priced at a strong percentage of spot, typically 95–97% of live spot
Key-Date Morgans Worth Knowing
- 1893-S — the most valuable Morgan dollar, worth $6,000+ even in heavily worn condition
- 1895 (Proof only) — no business strikes made, among the rarest US coins
- 1889-CC — Carson City mint issue, very scarce in all grades
- 1879-CC — first year of Carson City Morgan production, low mintage
- 1892-S, 1893-O, 1893-CC — all considered key dates with strong numismatic value
Bringing in Your Coin Collection
Bring coins in their current storage — albums, tubes, flips, or loose. Do not clean your coins before bringing them. Cleaning reduces collector value dramatically and permanently. We assess coins in the condition they arrive. Large collections can be brought in and we'll sort and test them on-site, typically within 30–60 minutes depending on volume.
Get a free appraisal on your silver coin collection in Old Saybrook. We test every coin with the Sigma Metalytics scanner, identify any key dates, and pay collector prices when they exceed melt value.