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Are you getting ready to sell silver? It’s important to be informed in order to get the most cash for your silver items. Where should you even start?
These tips for selling silver will help you get the most money possible for your silver coins, silver bars, silver jewelry, and other bullion products. We’ll cover how to estimate your silver’s value, how to locate the right buyer, and more.
First, check the current price of silver online. The price of silver is listed in US dollars, and refers to the value of 1 troy ounce of pure silver. One troy ounce is 31.1 grams.
You may not yet know exactly how much silver you have, and that’s okay! We’ll cover that in more detail below.
Next, examine the silver item(s) you have to estimate how much silver they contain.
Some items are clearly marked. For instance, a 10oz silver bar will have a clear “10oz” mark on it, indicating that it contains 10 troy ounces of silver.
Other items will need to be weighed. For instance, scrap silver jewelry or silver flatware will need to be tested for purity and then weighed to determine its value.
The majority of silver bullion products will be nearly pure silver. However, a lot of silver cutlery and jewelry is made out of “sterling silver”, and may be marked as such. Sterling silver is 92.5% silver. So if you have 10 oz of sterling silver, you actually only have around 9.25 oz of actual silver.
Now it’s time to get your items evaluated by a professional. A local coin shop or jeweler is a good place to start. Or, you might ask a friend who is knowledgeable about coins or bullion.
In the greater Seattle area, Bellevue Rare Coins should be your trusted go-to. Bellevue Rare Coins has been buying valuables from Seattleites for over 40 years, and we have locations in Bellevue, Issaquah, Tacoma and Lynnwood. We’ve built our reputation on trust and integrity, and every client is treated with respect. We offer no-obligation evaluations, which means that you can bring your items in to have them evaluated for free. We’ll tell you what we could buy them for, and prepare a cash offer. If you accept, you can sell your items in just a few minutes. If not, no problem! You’ll leave more knowledgeable about what you have and what your items are worth.
If you’re not in the Seattle area, do some research online to find a reputable silver buyer in your area. Coin shops are usually a good bet – just make sure to check reviews. We recommend avoiding pawn shops and “we buy gold” businesses because they typically don’t pay what your items are worth.
When you identify a potential buyer for your items, do your homework to make sure you’re using someone reputable. Check the Better Business Bureau (BBB) website, or third-party websites like TrustPilot. And of course, read customer reviews on Google and/or Yelp.
If you’re selling to an individual and not a business, be very cautious. Remember that you’re dealing with high-value items, so there is a risk of robbery or scams. Make sure to meet in a very secure location with cameras, such as a police station parking lot.
Finally, it’s time to sell your silver! Any reputable buyer you find should be able to pay by check or bank transfer, and may or may not offer cash payouts. For private individual buyers, it’s best to only accept cash to avoid scams. We hope these tips for selling silver help you get more cash for your valuables!
Remember that there are many factors that affect the value of your silver items, including:
If you’re in the Pacific Northwest, stop into Bellevue Rare Coins for all your silver needs. We have locations in Bellevue, Lynnwood, Tacoma, and Issaquah, with knowledgeable silver buyers on hand ready to evaluate your items today!
