Whether you’ve inherited a collection of old British silver coins, accumulated bullion Britannias as an investment, or simply found some pre-decimal coins in a drawer, selling silver coins in the UK can put significant money in your pocket—if you know what you’re doing.

This guide covers everything from identifying what you have to finding the right buyer and getting the best possible price for your silver coins.

Types of Silver Coins You Can Sell

Silver coins fall into three main categories, each with different valuations:

1. Bullion Coins

Modern investment coins struck by government mints, valued primarily for their silver content:

• Silver Britannias – The UK’s official silver bullion coin, struck by the Royal Mint since 1997. Contains 1 troy ounce of .999 fine silver (earlier versions from 1997-2012 were .958 purity).
• Canadian Silver Maple Leafs – 1oz coins with .9999 purity
• American Silver Eagles – 1oz coins from the US Mint
• Austrian Philharmonics – Popular European bullion coins
• Australian Kangaroos and Kookaburras – Perth Mint silver coins

These coins are typically bought and sold close to the silver spot price, plus a small premium.

2. Pre-Decimal British Silver Coins

Historic British coins containing real silver, minted before 1947:

Pre-1920 coins (92.5% sterling silver):

• Crown (5 shillings)
• Half Crown (2 shillings 6 pence)
• Double Florin (4 shillings)
• Florin (2 shillings)
• Shilling
• Sixpence
• Threepence

1920-1946 coins (50% silver): The same denominations as above, but with reduced silver content to help repay war debts.

Post-1946 coins: Contain no silver at all—made from cupro-nickel. These have only minimal face value unless rare.

3. Numismatic and Collector Coins

Coins with value beyond their metal content due to rarity, condition, or historical significance:

• Proof coins with limited mintages
• Error coins
• Rare dates or mint marks
• Coins in exceptional condition
• Commemorative issues

Current Silver Coin Prices in the UK

As of January 2026, here’s what UK dealers are typically paying:

Bullion coins:

• 1oz Silver Britannia: approximately £45-56 per coin
• 1oz Silver Maple Leaf: approximately £44-54 per coin
• Other 1oz bullion coins: varies by type and condition

Pre-decimal British coins:

• Pre-1920 silver (92.5%): approximately £1.45-1.55 per gram
• 1920-1946 silver (50%): approximately £0.72-0.80 per gram

Individual pre-decimal coin values (approximate, based on worn examples):

Coin	Pre-1920	1920-1946
Crown	£29	£16
Half Crown	£14-15	£7-8
Florin	£11-12	£6-7
Shilling	£5-6	£3-4
Sixpence	£2.50-3	£1.50-2
Threepence	£1.30-1.50	£0.70-0.90

These prices fluctuate daily with the silver spot price. Coins in better condition or with rare dates may be worth significantly more.

How Pre-Decimal Silver Coin Values Are Calculated

Understanding how dealers calculate prices helps you spot fair offers:

The weight method:

Each denomination has a standard weight when newly minted. Worn coins weigh slightly less due to years of circulation.

Denomination	New Weight	Typical Worn Weight
Crown	28.28g	~27.1g
Half Crown	14.14g	~13.6g
Florin	11.31g	~10.9g
Shilling	5.65g	~5.4g
Sixpence	2.83g	~2.7g
Threepence	1.41g	~1.3g

Dealers multiply the weight by the silver content percentage (92.5% or 50%), then by their buying rate per gram of silver.

The face value multiple method:

Some dealers offer “multiples of face value”—for example, “20 times face value for pre-1920 coins.” This can be convenient but often results in lower payouts than weight-based calculations. Always compare both methods before selling.

Tax Benefits of UK Silver Coins

One significant advantage of British silver coins:

Capital Gains Tax (CGT) exemption:

Silver Britannias and other UK legal tender coins are exempt from CGT for UK residents. This means any profit you make when selling is tax-free, regardless of the amount.

This makes Britannias particularly attractive compared to silver bars or foreign coins, which are subject to CGT on gains above the annual allowance (currently £3,000).

VAT considerations:

Unlike gold bullion (which is VAT-exempt), silver products carry 20% VAT when purchased new in the UK. However, you don’t pay VAT when selling—the buyer absorbs this into their margin. Pre-owned silver often sells under the VAT margin scheme, reducing the effective tax burden.

How to Identify Your Silver Coins

Before selling, you need to know exactly what you have:

Checking British pre-decimal coins:

1. Look at the date – This is crucial. Pre-1920, 1920-1946, and post-1946 coins have dramatically different values.
2. Check the monarch’s portrait:
   • Victoria (1837-1901)
   • Edward VII (1901-1910)
   • George V (1910-1936)
   • George VI (1936-1952) – coins dated 1947+ contain no silver
3. Note the condition – While worn coins are still valuable for their silver, coins in excellent condition may have collector premiums.

Identifying bullion coins:

Modern bullion coins clearly state their specifications:

• Weight (typically 1oz)
• Purity (.999 or .9999)
• Face value
• Country of origin

Silver Britannias display “1oz Fine Silver 999” and “£2” face value.

Spotting fakes:

Unfortunately, counterfeit bullion coins exist. Warning signs include:

• Wrong weight (invest in a precision scale)
• Poor strike quality or blurry details
• Incorrect dimensions
• Magnetic attraction (silver isn’t magnetic)
• Suspiciously low prices when buying

Reputable dealers have testing equipment to verify authenticity, so don’t worry if you’re uncertain—just be cautious about where you originally purchased coins.

Where to Sell Silver Coins

Specialist Bullion Dealers

The best rates typically come from dealers who focus exclusively on precious metals. They have:

• Direct relationships with refineries
• Lower overheads than high street shops
• Expert knowledge and testing equipment
• Transparent, weight-based pricing

In Birmingham’s Jewellery Quarter, you’ll find numerous specialist dealers competing for your business.

Online Dealers

Many reputable UK bullion dealers offer postal selling services:

• You receive a price quote based on current rates
• Send your coins via insured, tracked delivery
• Receive payment upon verification

The convenience is appealing, but you can’t negotiate face-to-face, and there’s always some risk in posting valuables.

Coin Dealers and Numismatists

If you suspect your coins have collector value beyond their metal content, a specialist coin dealer may pay more than a bullion dealer who only considers scrap value.

Signs your coins might have numismatic value:

• Rare dates or low mintage years
• Exceptional condition (uncirculated or proof)
• Unusual varieties or errors
• Historical significance

Auction Houses

For genuinely rare or valuable collections, auction may achieve the best prices—but commissions and fees eat into proceeds, and there’s no guarantee of sale.

Places to Avoid

Pawnbrokers: Primarily in the lending business; outright purchase rates are typically poor.

“We buy gold” shops: Often pay 50-70% of what specialist dealers offer.

Online “free envelope” services: Heavily advertised but consistently offer the lowest rates. Their business model relies on customer convenience and ignorance.

Social media and marketplace sales: Risk of fraud, no authentication, and potential legal issues around precious metals trading.

Tips for Getting the Best Price

1. Know Your Coins Before You Go

Sort your coins by:

• Bullion vs pre-decimal
• Pre-1920 vs 1920-1946 (for British coins)
• Denomination
• Condition

This preparation shows dealers you’re informed and makes the valuation process smoother.

2. Weigh Your Collection

Use digital scales to calculate an approximate value before visiting dealers. For pre-decimal coins, multiply total weight by the appropriate silver percentage and current rate. This prevents surprises and helps you spot lowball offers.

3. Get Multiple Quotes

Dealer rates vary significantly. Visit or contact at least three buyers before committing. In the Jewellery Quarter, you can compare offers within a short walk.

4. Sell In Person When Possible

Face-to-face transactions let you:

• Watch your coins being tested and weighed
• Ask questions about the valuation
• Negotiate if appropriate
• Receive immediate payment
• Walk away if the offer seems unfair

5. Check the Live Silver Price

Before any appointment, check the current silver spot price. Dealer buying rates typically run at 85-95% of spot for bullion coins, somewhat less for pre-decimal coins after accounting for refining costs.

6. Consider Timing

Silver prices fluctuate constantly. If you’re not in urgent need of cash, monitoring prices for a few weeks might help you sell at a more favourable moment. That said, trying to “time the market” is notoriously difficult—if you’re happy with the current price, there’s no guarantee it will be higher next month.

7. Bring Proper Identification

Anti-money laundering regulations require dealers to verify your identity. Bring a valid passport or driving licence to avoid delays.

What to Expect When Selling

A typical transaction at a reputable dealer:

1. Initial Assessment The dealer examines your coins, sorting by type, date, and condition. They’ll identify anything with potential collector value.

2. Testing and Weighing Bullion coins may be tested for authenticity using electronic testers or XRF analysis. Pre-decimal coins are typically weighed in bulk by category. You should be able to see the scales clearly.

3. Calculation The dealer calculates their offer based on current rates. Reputable dealers explain this openly—weight × purity × their buying rate per gram.

4. Offer and Negotiation You’ll receive a figure. For bulk quantities, there may be room for negotiation. You’re under no obligation to accept.

5. Payment If you agree, you’ll complete paperwork (including ID verification) and receive payment—typically cash, bank transfer, or cheque.

Selling Silver Coins in Birmingham

Birmingham’s Jewellery Quarter offers significant advantages for coin sellers:

Expert knowledge: Over 250 years of precious metals trading means genuine expertise.

Competition: Multiple specialist dealers within walking distance keeps rates competitive.

The Birmingham Assay Office: One of four UK offices authorised to hallmark precious metals, ensuring local dealers have access to expert verification.

Immediate payment: Sell face-to-face and walk away with cash the same day.

At SMP Bullion and Diamonds, we buy all types of silver coins—from single Britannias to large collections of pre-decimal silver. Located in the heart of Birmingham’s Jewellery Quarter, we offer transparent valuations based on the live silver price, with no obligation to sell.

Whether you’ve inherited your grandmother’s coin collection or you’re liquidating an investment position, we provide honest assessments and fair prices.

Frequently Asked Questions

Should I clean my silver coins before selling?

No—and doing so could actually reduce their value. For bullion coins, cleaning causes hairline scratches that affect eye appeal. For collectible coins, cleaning removes the natural patina that collectors value and can turn a rare coin into a damaged one. Sell coins in their current state.

Are tarnished coins worth less?

For bullion purposes, tarnish doesn’t affect value—the silver content is identical. For collector coins, original toning is often desirable, while harsh tarnish or corrosion can reduce numismatic premiums.

Do proof coins fetch higher prices?

Proof coins—those struck with special dies for collectors—often carry premiums above their silver content. However, condition matters enormously. A proof coin that’s been handled, scratched, or removed from its case may be worth only its metal value.

What about foreign silver coins?

Many foreign coins contain silver and are worth selling. Common examples include:

• US silver dollars, half dollars, quarters, and dimes (pre-1965)
• Canadian silver dollars and smaller denominations (pre-1968)
• Swiss francs (various dates)
• German marks (various dates)

A good dealer will assess foreign coins and pay based on their silver content.

Can I sell just a few coins?

Yes—reputable dealers have no minimum quantity. That said, the economics of small transactions mean you might receive proportionally less for a single coin than for a larger collection.

How quickly will I be paid?

For in-person sales, same-day payment is standard—either cash, bank transfer, or cheque. For postal sales, most dealers process and pay within 1-3 working days of receiving your coins.

What if I’m not happy with the offer?

You’re never obligated to sell. If an offer seems low, ask the dealer to explain their calculation. If you’re still unsatisfied, thank them and try elsewhere. Legitimate dealers won’t pressure you.

Ready to Sell Your Silver Coins?

If you have silver coins to sell in Birmingham, SMP Bullion and Diamonds offers competitive rates based on the live silver price. Visit us in the Jewellery Quarter for a free, no-obligation valuation.

We buy all types of silver coins:

• Bullion coins (Britannias, Maples, Eagles, and more)
• Pre-1947 British silver coins
• Foreign silver coins
• Collector and proof coins

Contact us today or drop in during opening hours. No appointment necessary.

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