Selling silver well comes down to one habit: know your melt value before anyone makes you an offer. Run your coins through the calculator first — that number is your negotiating floor, and every venue below is judged by how close to it you net.
Your five options, compared
| Venue | Typical net vs melt | Speed | Best for |
|---|---|---|---|
| Local coin shop | ~95–100%+ | Instant cash | Junk silver, common bullion |
| Online bullion buyers | ~95–100%+ | 3–7 days | Larger lots; locked-in prices |
| eBay / auctions | 85–110%+ after fees | 1–2 weeks | Collectible coins, key dates |
| Refiners | 85–98% | 1–2 weeks | Sterling scrap, large mixed lots |
| Pawn shops | 50–80% | Instant cash | Last resort only |
Local coin shops
The default choice for junk silver: instant payment, no shipping risk, and competitive bids because shops resell at a markup quickly. Call ahead and ask their buy price “per face dollar” of 90% — comparing it to melt takes one division. Visiting two shops routinely adds several percent to your net.
Online bullion dealers
Most major online dealers run buyback programs: lock a price by phone or web, ship insured, get paid after verification. Competitive on quantity, and the locked price protects you from spot moving while the package travels. Mind minimums and insure the full value.
eBay and auction sites
The only venue where collector value gets discovered. Common junk silver nets about the same as a dealer after ~13–15% fees and shipping — not worth the hassle. But key dates, graded coins and attractive type coins can sell well above any dealer bid. Sort first: see the date warnings in quarters and dimes.
Refiners
For sterling flatware, weighted pieces and big mixed lots — they pay on assayed content (85–98% depending on volume). Overkill for recognizable coins, which sell at full melt without an assay.
Pawn shops and “we buy gold” kiosks
Built for sellers who don’t know their melt number. Offers of half of melt are routine. Use only when you need cash today — and still get a second quote.
Before you sell: a five-minute checklist
- Sort — 90% / 40% / war nickels / sterling are priced differently (refresher: junk silver, 90 vs 40).
- Scan dates for key coins worth more than melt.
- Don’t clean anything. Ever.
- Compute melt at the live spot — US, Canadian, sterling.
- Watch the units at the counter — a buyer quoting per pennyweight or avoirdupois ounce can make a low offer sound high (the unit trap).
Finally, keep records of what you sell and what you paid — precious-metal gains are taxable (collectibles rules apply in the US), and documentation only helps you.
Frequently asked questions
How much under melt value do coin shops pay for junk silver?
In normal markets, expect bids within a few percent of melt — sometimes at or even slightly over it when retail demand is hot. An offer 15% or more below melt is a signal to get a second quote.
Is it better to sell silver on eBay or to a dealer?
eBay grosses the highest prices but fees around 13–15% plus shipping eat the difference, and you carry fraud risk. For common junk silver, a dealer is usually the better net. For key dates, graded coins or anything collectible, auction exposure can be worth the fees.
Should I clean my coins before selling?
Never. Cleaning destroys collector value — a scrubbed key-date coin can lose most of its premium. Dealers prefer original surfaces, even ugly ones. Sell coins exactly as you found them.