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If you have old British silver coins dated 1919 or earlier, you’re holding genuine sterling silver—and at today’s prices, even worn coins have significant value. SMP Bullion and Diamonds in Birmingham’s Jewellery Quarter buys pre-1920 silver coins at competitive rates, paying for their true silver content rather than offering generic “face value multiples.”

Why Pre-1920 Coins Are Worth More

British coins minted before 1920 contain 92.5% pure silver—the same sterling silver standard used in hallmarked jewellery. In 1920, the Royal Mint reduced the silver content to just 50%, and from 1947 onwards, silver was removed entirely in favour of cupronickel.

This means pre-1920 coins contain almost twice as much silver as their 1920-1946 equivalents. A pre-1920 half crown holds roughly 13g of silver content, while the same coin from 1925 contains only around 7g.

Current rates (January 2026):

Coin type	Price per gram
Pre-1920 coins (92.5% silver)	£1.34-1.40
1920-1946 coins (50% silver)	£0.72-0.80

The difference is substantial. Your pre-1920 coins are worth significantly more than post-1920 equivalents of the same denomination.

Call Us For Live Rates

Pre-1920 Coin Values by Denomination

Here’s what we’re currently paying for common pre-1920 British silver coins in average circulated condition:

Denomination	Original weight	Silver content	Current value
Crown (5 shillings)	28.28g	26.16g	£28-30
Double Florin	22.62g	20.92g	£22-24
Half Crown	14.14g	13.08g	£14-15
Florin (2 shillings)	11.31g	10.46g	£11-12
Shilling	5.65g	5.23g	£5.50-6
Sixpence	2.83g	2.62g	£2.70-3
Threepence	1.41g	1.31g	£1.30-1.50

Note: These are approximate values for worn coins. Heavily worn examples weigh less and contain less silver. Coins in exceptional condition may carry numismatic premiums above their silver value.

Which Coins Qualify?

Any British silver coin dated 1919 or earlier qualifies for the higher 92.5% silver rate. This includes coins from the reigns of:

King George V (1910-1919) The most commonly found pre-1920 coins. Look for dates 1910-1919.

King Edward VII (1902-1910) Slightly less common but regularly encountered.

Queen Victoria (1837-1901) Including Young Head, Jubilee Head, and Old Head (Veiled Head) designs. Victorian coins spanning over 60 years of production are frequently found in inherited collections.

Earlier monarchs Coins from William IV, George IV, George III, and earlier are less common but all contain sterling silver. Very old coins may have numismatic value beyond their silver content.

How to Identify Pre-1920 Coins

Checking the date is straightforward—it’s stamped on every coin. Look on the reverse (tails) side, usually beneath the design or around the edge.

Quick identification tips:

• The date tells you everything. 1919 or earlier = 92.5% silver. 1920-1946 = 50% silver. 1947 onwards = no silver.
• Pre-1920 coins have a slightly different colour and “ring” when dropped compared to later coins, though dating by sound isn’t reliable.
• Worn coins where the date is illegible require closer examination—we can help identify them.

Coins to separate:

When sorting your collection, create three piles:

1. 1919 and earlier – Sterling silver (92.5%), highest value
2. 1920-1946 – Reduced silver (50%), still valuable
3. 1947 onwards – Cupronickel, no silver value

This sorting maximises your payout. Mixed batches take longer to process and some dealers may undervalue them.

Face Value Multiples vs. Weight-Based Pricing

Many coin dealers quote prices as “multiples of face value”—for example, “20x face value for pre-1920 coins.” This sounds generous but can work against you.

The problem with face value pricing:

A pre-1920 shilling has a face value of 5p (one-twentieth of a pound in old money). At “20x face value,” that’s £1.00 per shilling.

But a shilling contains approximately 5.23g of sterling silver, worth around £5.50-6 at current rates. Face value pricing would pay you roughly 17p per shilling—a massive underpayment.

Weight-based pricing is fairer:

At SMP Bullion and Diamonds, we weigh your coins and pay based on actual silver content. This transparent approach ensures you receive the true market value regardless of denomination.

If you have 500g of mixed pre-1920 coins, you’ll receive approximately £670-700 based on weight—far more than face value multiples would offer.

Worn Coins and Weight Loss

Silver coins lose weight through circulation. A freshly minted Victorian crown weighing 28.28g might now weigh 26-27g after decades of handling.

This weight loss is normal and expected. We weigh coins in their current state and pay for the silver they actually contain—not theoretical original weights.

Heavily worn coins with nearly illegible details are still valuable. The silver content remains even if the design has worn smooth. Don’t discard or undervalue worn coins—they’re worth selling.

Bent, damaged, or cleaned coins are also worth their silver content. Condition only matters for numismatic (collector) value. For scrap purposes, a bent sixpence contains the same silver as a pristine one.

Coins With Collector Value

While most pre-1920 coins trade at silver value, some command premiums from collectors:

Key dates and rarities: Certain years had low mintages, making them scarce. For example, some Victorian shillings from the 1860s are surprisingly valuable.

Exceptional condition: Uncirculated or near-uncirculated coins—those showing minimal wear with sharp details—may be worth more to collectors than their silver content.

Proof coins: Special collector editions struck with polished dies. These are rare in pre-1920 denominations but command significant premiums.

Errors and varieties: Die cracks, double strikes, or design variations can add value for specialist collectors.

We examine every coin and identify those with potential numismatic value. If your coin is worth more than its silver content, we’ll tell you.

Calculating Your Collection’s Value

By weight (most accurate):

1. Sort coins into pre-1920 and post-1920 piles
2. Weigh each pile on kitchen scales (grams)
3. Multiply pre-1920 weight by £1.34-1.40/g
4. Multiply 1920-1946 weight by £0.72-0.80/g

By count (approximate):

If you can’t weigh coins, use the denomination values above, reducing slightly for wear:

• Count each denomination
• Multiply by the values listed
• Reduce total by 5-10% for average wear

Example calculation:

You have:

• 3 pre-1920 half crowns (3 × £14.50 = £43.50)
• 8 pre-1920 florins (8 × £11.50 = £92.00)
• 15 pre-1920 shillings (15 × £5.75 = £86.25)
• 20 pre-1920 sixpences (20 × £2.85 = £57.00)

Approximate total: £278.75

Actual payment depends on exact weights, but this gives you a realistic expectation.

Selling Pre-1920 Coins at SMP Bullion and Diamonds

When you bring your coins to us, the process is straightforward:

1. Sorting If you haven’t already separated pre-1920 from later coins, we’ll do it for you. Pre-sorted coins speed up the process.

2. Weighing Coins are weighed by era (pre-1920, 1920-1946) on calibrated scales. You’ll see the readings clearly.

3. Inspection We check for coins with potential collector value. Anything worth more than silver content is identified and valued accordingly.

4. Calculation Weight × current rate = your offer. The calculation is transparent and explained.

5. Payment Accept and receive same-day payment—cash or instant bank transfer. Decline and take your coins with you, no obligation.

The entire process typically takes 15-30 minutes depending on quantity.

What to Bring

Your coins – Any quantity, any condition. We have no minimum.

Photo ID – Passport or driving licence required under anti-money laundering regulations.

Sorting (helpful but not essential) – Separating pre-1920 from later coins speeds up processing. If you can’t sort them, we’ll handle it.

Common Questions

Are all pre-1920 coins sterling silver?

British coins yes. Foreign coins from the same era vary—some countries used different silver standards. We can test and value foreign silver coins appropriately.

What if I can’t read the date?

Bring them anyway. We can often identify dates from other design elements, or test silver content directly using XRF analysis.

Do you buy Maundy money?

Yes. Maundy coins (1p, 2p, 3p, 4p denominations given by the monarch on Maundy Thursday) are sterling silver and often carry collector premiums. We assess these individually.

What about silver pennies?

Medieval and early silver pennies exist but are rare. If you have them, they likely have significant numismatic value beyond silver content. We can advise or recommend specialist dealers.

Can I sell just a few coins?

Absolutely. Whether you have three coins or three hundred, you’ll receive fair weight-based pricing.

Are 1920 coins worth more or less than 1919?

Significantly less. The changeover happened during 1920, so most 1920-dated coins contain only 50% silver. Only coins dated 1919 or earlier are guaranteed 92.5% sterling.

Why Sell Now?

Silver prices are currently strong, making this an excellent time to convert old coins into cash. Pre-1920 silver coins that might have fetched £0.80/g a few years ago now command £1.34-1.40/g.

If you have inherited coins, accumulated collections, or simply discovered old money in a drawer, current market conditions offer genuine value.

Of course, if your coins have sentimental significance or you’re building a collection, there’s no pressure to sell. Silver maintains its intrinsic value over time.

Visit SMP Bullion and Diamonds

Located in Birmingham’s historic Jewellery Quarter, SMP Bullion and Diamonds has the expertise to properly value your pre-1920 silver coins.

We pay based on actual silver content—not arbitrary face value multiples that undervalue your coins. Our transparent, weight-based approach ensures you receive fair market value for your genuine sterling silver.

Bring your pre-1920 coins for a free, no-obligation valuation. We’ll weigh them, check for rarities, and make you a fair offer based on today’s silver price.

Same-day payment. Honest valuations. The true value of your silver.