What About Silver?

Back in the early ’80s, the price for silver hit almost $50 an ounce. Over the next few decades, silver prices fell dramatically, but they have lately been trending upward again. And that could be a great opportunity for you.

The cause of silver’s resurgence is twofold. With the volatility of the dollar, foreign countries are investing more in precious metals, which lowers the supply of silver and drives up its price. In addition, industrial demand for silver is strong, with the precious metal being used in everything from coins and jewelry to photography and disinfectants.

We all have some silver lying around our houses, either in the form of jewelry, sterling silver or even silver coins or silver bullion. And with the current high price of silver, it’s a great time to consider selling. However, the increased popularity of silver also makes investing in silver worth thinking about.

At West Seattle Coins and Bellevue Rare Coins, we buy silver and sell silver every day. Here are a few tips to help you evaluate whether now is the time to turn your unwanted silver into cash — or make an investment in the future.

Selling Silver

• Sterling silver isn’t pure silver. In fact, it’s only about 92.5% silver, which will affect the value of your sterling silver place settings, collectible plates or jewelry.
• If you’re selling silver jewelry with precious stones, it’s best to take out the stones before getting your jewelry appraised by a silver buyer. A silver buyer is only interested in the value of the silver, and you can often get more money for your gems by selling them independently. However, you don’t need to do this at West Seattle Coins and Bellevue Rare Coins because we have certified gemologists on staff. Read more about how our appraisal process works.

Buying Silver

• The best way to buy silver as an investment is by buying silver rounds or silver bullion bars produced by mints. Each piece you buy should be marked with its weight and purity.
• You can also buy certificates or silver funds on the market if you don’t want to store and sell the silver yourself.

Whether you’re buying or selling silver, it’s essential to have a trusted partner. The experts at one of West Seattle Coins and Bellevue Rare Coins three locations in West Seattle, Bellevue and Lynnwood will discuss your options with you and help you decide whether it’s time to invest in silver — or sell your unwanted silver for some cold, hard cash.

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