Selling Silver: What You Need to Know

Silver might not get as much love as gold, but it’s certainly still a valuable metal. If you have some old silver laying around, you may be wondering what it’s worth, and how you might go about selling it.

This article will dive into the logistics of selling silver, including how to ensure you get the most for your valuables. 

What You Need to Know When Selling Silver

Before you sell your silver, it’s important to have some basic knowledge of the value of your items, as well as the selling process. At a glance, here’s what you need to be aware of:

• The type of silver you have
• How much it weighs
• What it’s worth
• Where you will sell it
• How the selling process will work

We’ll discuss each of these topics in greater detail in the guide below. 

Note: If you sell to a trustworthy business, like Bellevue Rare Coins, you can simply bring in your items and we will explain how much they are worth, and why. If you sell to another business, we recommend learning more about your items to ensure that you get a fair deal. 

Know What You Have

Silver, or Ag, is a precious metal that is used in bullion products, old silverware (hence the name!), old coins, cookware, electronics, and more. 

Silver can take many forms, and its useful to know what you have — and what it’s worth — before selling. 

• Silver bullion takes the form of silver bars and silver rounds. It is usually pure silver (or very close to it). It should be worth close to the current spot price of silver. For instance, if you have a 10oz silver bar and silver spot price is $25 per ounce, a reputable dealer should pay you around $220 to $240 for it.
• Sterling silver takes the form of silverware, cookware and silver jewelry. It is 92.5% silver (commonly marked .925). Sterling silver is worth a bit less than its weight in silver (its “melt value”) because of the costs of refining it into pure silver. 

• Silver coins are actual currency that contains silver. All US silver coinage made prior to 1964 was made out of 90% silver. Old silver coins are worth close to their melt value, or a bit less.

• Collectible silver coins are coins that have some sort of collector value. They could be rare dates of old coins, or modern collectible coins. These coins will typically be worth more than their melt value, although it varies greatly depending on the coin and its condition.

• Silver jewelry is, well, silver jewelry! Usually this is made from sterling silver, which is around 92.5% pure silver. However, jewelry can also be made from lower concentrations of silver, or it may simply be plated (coated) in silver. Silver jewelry is typically worth a bit less than its melt value, although this can vary depending on the piece.

Know Where to Sell

It is very important to sell your valuables to a reputable, trustworthy company.

If you’re looking to sell silver in the Seattle area, the best place to sell silver near you is at Bellevue Rare Coins. We have locations in West Seattle, Bellevue, Lynnwood, Issaquah and Tacoma. 

Bellevue Rare Coins has been in the business of buying and selling precious metals for over forty years. We pay top dollar for silver, gold, coins and more – and our knowledgeable team members are happy to help answer any questions you may have.

Stop by today or make an appointment to see why Bellevue Rare Coins is the best silver buyer in the Pacific Northwest! 

Know How It Works

How does the process of selling valuables work? 

At Bellevue Rare Coins, selling silver is simple:

1. We explain the evaluation process
2. We examine, weigh, and verify the items
3. We assess the items, accounting for collectability, condition and other factors
4. We make an offer for the items

If you accept our offer, you can walk out in minutes with cash or check in hand. It’s that easy!

We always offer free evaluations, so you will never feel pressured to sell.