There is money to be made in reselling sterling silver jewelry, coins, and flatware.
If you're timing the market, now is as good of a time as any to sell silver, as prices have been strong through the spring and summer of 2023, as metals become attractive to investors as inflation, bank failures and debt ceiling debates send the stock market into tumult. Analysts1.
However, analysts predict silver will have slight gains throughout the rest of the year, as growing demand for solar panels requires more silver production2 — on top of ongoing demand from automotive and manufacturing industries — while trade associations warn of a silver deficiet. In other words, silver prices are strong now, but analysts predict strong silver prices going forward, too.
For everyday people who have some silver sitting around, this post will help you understand the value of your silver and answer common questions, including, “Where do I sell silver?” “How much can you sell silver for?” “What's the price of 925 sterling silver today?” and more.
How much can you sell silver for?
Silver prices have been very strong through the spring of 2023, as metals become attractive to investors as inflation and bank failures send the stock market into tumult.
As of , the silver resale value in the United States was at $ per ounce, or $ per gram.
What is the best way to sell silver?
Online silver buyers make it easy to get a quick quote for your 925 sterling silver jewelry, silver scrap, silverware, flatware or coins today.
Learn more in this post about the most common buyers of silver: pawn brokers, jewelers and coin dealers, and the top online silver buyers.
We have extensively researched the top silver buyers, and our recommendation is this:
If you need cash ASAP, research quality local pawnshops. The value is getting cash right away when you need it and working with a local business that you trust.
Typically, you will get less for your silver than if you sell to a legitimate online silver buyer. Based on our research, we recommend CashforSilverUSA. The family-run parent company CJ Environmental has an A+ Better Business Bureau rating. CashforSilverUSA pays within 24 hours and guarantees the highest price. No minimum.
Learn more about CJ Environmental and its sister sites in this review of CashforSilverUSA and CashforGoldUSA.
How much is silver worth? Value of silver today—check the price of silver:
As of , the silver resale value in the United States was at $ per ounce, or $ per gram.
Despite lower prices through most of 2022, silver prices spiked in the last quarter and are poised to continue climbing in 2023, with industry experts predicting an 18% increase this year3.
That said, not all silver is the same.
Silver that is stamped with the markings 950, 925, 900, 800, Sterling, or Coin all contain high amounts of silver and will be worth the most.
Items marked Plate will be worth the least — or nothing at all — as these items are not pure silver and only have a thin coat of silver on their outer layer. Most silver flatware, jewelry and scrap are worth the scrap value. Occasionally, very desirable silverware brands, some branded jewelry like Tiffany or collectible silver coins have a higher value.
This video goes into more detail about how to value silver:
Value of fine or pure silver vs. sterling silver
Sterling silver is an alloy of 92.5% pure silver and other metals (typically copper or nickel). Therefore, sterling silver is worth 92.5% of the spot price of fine, a.k.a. pure silver.
Learn more about the differences between sterling silver vs. silver.
Value of silver plated vs. sterling silver
Silver plating has no real silver value, while sterling silver is worth 92.5% of the spot price of pure silver.
Learn more about silver plated vs. sterling silver.
Value of silver vs. white gold
Sterling silver and white gold are both alloys made up of different metals:
- Sterling silver = 92.5% pure silver + other metals (like copper or nickel)
- White gold = 58.3%-99% pure gold (varies) + other metals (like silver, nickel, palladium, or zinc)
White gold is also usually plated with a layer of rhodium, which makes it appear white and prevents the gold from scratching.
Learn about the difference between sterling silver vs. white gold.
Value of argentium silver vs sterling silver
Argentium silver is a silver alloy developed in London in 1990. It is a mixture of 93.5% pure silver or 96% pure silver combined with germanium. Therefore, it is worth 93.5% or 96% of the spot price of silver.
Sterling silver, on the other hand, is made of 92.5% pure silver and 7.5% of other metals like nickel and copper. Its value is 92.5% of the spot price of silver.
Argentium silver is considered more durable, is fire-stain resistant, and has a higher melting point than sterling silver. It is also seven times more tarnish resistant.
How to sell silver in 3 easy steps
Just as you might sell gold or platinum, you can sell silver in a number of ways. The most common of these is to bring your silver to a local pawn shop, a silver exchange, a local jeweler, or through an online silver buyer.
Here are the steps to increase your chances of selling your silver for the highest price:
1. Understand how metals dealers work
Before selling your silver, it’s important to understand how businesses that buy and sell precious metals work.
It is very simple: Metals dealers like to buy low, sell high, and make as much money as they can.
A gold or silver buyer of any type will weigh your silver, note any markings to understand its purity, and then calculate its value based on that day's spot silver price.
You’ll never get the full spot price (the buyer needs to be able to make money reselling it, after all), but you can shop around to find the buyer who is willing to give you as much as possible for your metal. Expect to pay a commission of 20% (online silver buyer) to 50% (local pawnshops and metals exchanges).
Kitco's exchanges provide a widely accepted market spot price for precious metals, including silver prices. Silver prices are also updated daily here on Wealthysinglemommy.com:
As of , the silver resale value in the United States was at $ per ounce, or $ per gram.
Keep in mind that local buyers tend to have high overhead including rent and staff, and less ability to sit on any inventory to wait for silver prices to go up before selling, when compared with online silver buyers which can run larger businesses at scale, and pass along those efficiencies to sellers.
2. Check the markings on your silver to understand its quality
Silver markings, called stamps or hallmarks are small marks left in silver objects by the silversmith who created the item. They are typically required by law for commercially sold silver goods. These marks indicate how much silver is in the metal (for example, 925 for sterling silver and 900 for coin silver). Sometimes, the markings may also indicate the region or country of origin.
This is our complete guide to jewelry stamps and markings.
Briefly, here is what you need to know about silver markings:
- Sterling silver (marked 925): Sterling is the standard for silver, and requires the metal be at least 92.5% silver mixed with copper (or another metal) for strength. Marks on these pieces include 925 or Sterling.
- Brittania silver (stamped 950): Brittania silver is an alloy made of 95% silver, which is actually more than the requirement for sterling silver, and qualifies as sterling.
- Coin silver (marked 900): Since it is only 90% silver, this coin silver alloy cannot be referenced as sterling. Items made from this alloy may include marks Coin, and Standard.
- European silver (marked 800): A.K.A. “continental silver,” this is type of silver alloy may have marks including 800, 825, 830, or 850, indicating 80, 82.5, 83, and 85% silver content.
- Silverplate: A silverplate marking is sometimes incorporated into a manufacturer’s mark, and indicates that the item was made by electroplating a base with a thin coating of silver. Sometimes items are marked “Quadruple Plate,” indicating four layers of silver were applied to the item over the base metal. Buyers rarely buy plated silver.
3. Find a reputable buyer
Where you sell your silver depends on a few personal preferences:
- How fast you need cash (if you need it within 1-2 days, go for a pawnshop)
- If you have a local company you like to do business with (pawn, local jeweler, coin dealer, etc.)
- You like the privacy of doing business online, from home and have a few days to spare (online silver buyer)
CashforSilverUSA is a reputable buyer and our top choice. Here’s why we recommend using this online silver buyer:
- A+ BBB rated
- Pay within 24 hours — by Paypal, print-at-home check, direct deposit, personal check by Fedex or First Class USPS or Virtual Visa credit card
- Trackable, free FedEx or USPS shipping
- In business since 2005
- Insurance up to $100,000
- No minimum weight or value
- Also buys diamonds, gold, coins, fine watches
How much do you get for selling silver?
How much you will get for selling your silver depends on the quality of your silver (sterling, or plated), whether your item demands a premium price or will be sold for melt value, the price of silver the day you sell, and the offer you agree to.
Silver flatware and service pieces
You can sell your silver flatware and service pieces by either bringing it to a pawn shop, coin dealer or reaching out to an online buyer. Each of these buyers will pay you based on the purity and weight of the silver that you are exchanging; the purer and heavier your items, the more you will receive.
Learn more about selling sterling silver flatware, where we outline the going rate for various silver brands, and how much you can fetch for a full, 32-piece set of sterling silver at melt — which will be about $800 to $1,500.
Silver flatware is usually 90% sterling silver, though that percentage can vary substantially. Silver-plated flatware will contain much less silver has very low resale value — just what you could get for the piece at a thrift, consignment or antiques store.
Silver bullion
Silver bullion is typically 99.9% pure silver.
As of , the silver resale value in the United States was at $ per ounce, or $ per gram.
A 10-ounce silver bar goes for about $240 (September 2023 prices).
Silver bullion can be sold in the same places as silver jewelry, flatware, or coins. Pawn shops, silver exchanges, and online silver buyers like CashforSilverUSA will give you cash for your silver bullion.
CashforSilverUSA recently paid $4,290 for these fine silver bars:
Silver coins
Silver coins can also be sold to pawn shops, silver exchanges, and online silver buyers, each of which will give you cash in exchange for your coins (based on the weight of the coin) and then proceed to melt them down.
Most silver coins contain 90% silver. Learn more about selling your silver coins.
CashforSilverUSA recently paid $300 for these silver American Eagles:
This collection of Kennedy silver half dollar coins sold to CashforSilverUSA for $1,956:
Silver jewelry
If your silver silver rings, necklaces, bracelets and jewelry are mass-produced (vs. hand-crafted or by a known brand) or simply do not have value outside of the silver it contains, then you will want to find a silver buyer who will pay the melt value of your silver.
Who you sell your silver jewelry to will depend on a few factors. If the jewelry is by a famous designer, is an antique, or is truly unique, then it might be of interest to a estate jeweler or antique dealer, or someone shopping on Facebook Marketplace, ebay or another online consignment platform.
What is the best way to sell antique silver?
Depending on what you're trying to sell, an antique dealer, coin dealer or jewelry store that deals in antique jewelry may be the best option to sell antique silver.
However, very few silver pieces, no matter how old or how sentimental they are to you or your family, are worth more than their scrap value. So be prepared to be paid a fair price based on the purity of the silver x the spot price of the day, minus any buyer's commission. For this reason, an antique dealer is not always the best place to sell your antique silver — a pawn broker, online sliver buyer or other trusted metals buyer is just as likely to give you a fair, legitimate price for your silver.
Collectible silver coins sold to a coin dealer or private collector are the most common exceptions to this scrap silver rule-of-thumb.
Where to find antique silver buyers near me?
You can Google “antique silver buyers near me” to find local pawn shops, antique stores or dealers, and jewelry stores that deal in antique jewelry.
Frequently asked questions about the value of silver
Below are some frequently asked questions about silver that can help you better understand whether you can and should sell your silver.
How much does silver sell for? What is the melt value of silver?
As with platinum and other precious metals, the price of silver can fluctuate widely. This is due to the fact that silver has two primary uses: As both a store of value and as an industrial commodity. While silver often trades in line with gold, silver melt value can be sensitive to industrial demand, rising during times of economic prosperity and falling when consumer demand falls.
What silver is worth money?
All silver is worth money, but that doesn't mean you'll get a lot of money for any silver item. The purer your silver, the more you'll get for it. The markings that your silver is stamped with will tell you how much silver it contains.
The most valuable silver will be stamped with one of the following markings:
- 950: 95% silver
- 925: 92.5% silver
- Sterling: 92.5% silver
- 900: 90% silver
- COIN: 90% silver
- 800: 80% silver
Silver-plated items, on the other hand, do not contain a lot of silver and merely have a thin coat of metal on top. These items are commonly marked with the stamp “PLATE” and are not worth much money.
How much is silver bullion worth?
Silver bullion is silver that is in the form of either coins, bars, ingots, or rounds. Like all other silver, its value or price is determined by its weight and purity.
How much is silver worth per gram?
As of , the silver resale value in the United States was at $ per ounce, or $ per gram.
How much is silver worth per ounce?
Silver prices have hovered at record highs this month. As of , the silver resale value in the United States was at $ per ounce, or $ per gram.
How many grams are in an ounce of silver?
Silver is typically measured in something called a troy ounce, which is slightly heavier than a standard ounce (imperial ounce) used to measure a substance. This means that there are 31.10 grams of silver in a troy ounce, compared to 28.35 grams of silver in an imperial ounce.
What is the finest grade of silver?
Fine silver is 99.9% pure and is the purest grade of silver.
Is Argentium silver real silver?
Yes. Argentium silver is an alloy of 93.5% or 96% pure silver combined with other metals like germanium.
Is sterling silver real silver?
Yes, sterling silver is real silver. Sterling silver is an alloy of 92.5% pure silver combined with other metals like nickel and copper.
Frequently asked questions about selling silver
Can you make money selling silver?
No matter the price of silver, you are almost guaranteed to always be able to find a buyer who will be interested in giving you cash for your metal. This means that yes, you can always make money by selling your silver — though the actual profits depend on how much you paid for your silver, and what the current market price is.
Where can I get the most money for silver?
CashforSilverUSA.com is our top choice if you want to get the most money for silver since they offer a highest price guarantee.
However, if you have antique silver that may be worth money based on its craftsmanship and history, you may be better off selling to an antique dealer or antique jeweler.
When should I sell my silver?
In choosing when to sell your silver, timing is everything.
Silver prices rise when there is increased demand for the metal, either because investors are fleeing riskier investments (such as stocks) and seeking safer investments, or because consumers are purchasing more items that require silver components. Silver prices typically fall, on the other hand, when investors seek growth, or when consumers are purchasing fewer items made out of silver.
To get the most money for your silver, you should sell it when demand, and prices, are at their highest.
That said, if you have silver jewelry or flatware that you do not use or enjoy, selling it now for cash is better than those items cluttering your drawers. Money in hand now can be used to pay bills, invest, or otherwise enjoy.
How can I sell my silver?
Silver can be sold to a pawn shop or jeweler near you, a local gold or silver exchange or metals recycler, or a quality online jewelry or metals buyer. We recommend CashforSilverUSA.
Get an offer for your silver from CashforSilverUSA now >>
Bottom line: Is it a good time to sell silver in 2023?
Both silver and gold prices have fallen since May thanks to rising inflation that makes bonds and treasury notes more attractive investments.
Silver is predicted to reach 9-year high in 2024 and beyond, due in part to its role in solar energy, which is positioned to grow long-term.
Sources
- “Gold prices slump as global bond yields rise, U.S. dollar strengthens,” by Joseph Adinolfi, MarketWatch, Aug. 7, 2023 https://www.marketwatch.com/story/gold-prices-slump-as-global-bond-yields-rise-u-s-dollar-strengthens-5efd6b50
- “Silver prices will spike as record solar demand strains silver supply through 2026,” by Ernest Hoffman, Kitco News, Aug. 2, 2023 https://www.kitco.com/news/2023-08-02/Silver-prices-will-spike-as-record-solar-demand-strains-silver-supply-through-2026-Metals-Focus.html
Online silver buyers make it easy to get a quick quote for your 925 sterling silver jewelry, scrap, silverware, flatware or coins. There are quality options that provide free insurance, shipping and pay within 24 hours.
As of Sept. 5, 2023, the silver resale value in the United States was at $24.03 per ounce, or $0.85 per gram.
All silver is worth money, but that doesn't mean you'll get a lot of money for any silver item. The purer your silver, the more it's worth. Bullion, coins and silver flatware offer the highest resale price for silver.
No matter the price of silver, you are almost guaranteed to always be able to find a buyer interested in paying you cash for your metal. This means that yes, you can always make money by selling your silver — though the actual profits depend on how much you paid for your silver, and the market price.
Silver can be sold to a pawn shop or jeweler near you, a local gold or silver exchange or metals recycler, or a quality online jewelry or metals buyer.
Fine silver is 99.9% pure and is the purest grade of silver.
Yes. Argentium silver is an alloy of 93.5% or 96% pure silver combined with other metals like germanium.
Yes. sterling silver is an alloy of 92.5% pure silver combined with other metals like nickel and copper.
Have you actually dealt with them as a customer? They have terrible reviews online, I’m afraid to send my stuff to them.
I. Want. To. Sell. All. My. Silver. Could. You. Help.
CashforGoldUSA will buy your silver.
The customer has to pay a premium yet when we go to our local coin store they only want to pay me a dollar under spot shouldn’t they be paying a premium as well?
“Silver prices are reaching record highs,…” Get a GRIP!!! Silver is nowhere CLOSE to record highs. In the 1970’s, back when you could actually buy things for a nickel or a dime, Silver was at $48.79. It is NOWHERE NEAR THAT now. This is deception for marketing, not accurate information provided for informed decision making.
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I have to sell my silver
When to sell silver coins . When to know when a good time. Paid $17 for silver dollar
I have a service for 12 with numerous extra pieces of Old Master Towle silverware. I’m not sure what it’s worth and if it’s a good time to sell. It’s in excellent condition. I’d like advice on how to sell this, what the value of this silverware could be, and how to get the best price. Thank you
Hi Rebecca – CashforSilverUSA is my recommendation – any buyer will likely melt down the silver for scrap – they pay quickly and have a strong reputation. Good luck!
My mother left me silver bars when she passed. I don’t know where to begin to get top dollar for them or how long I should keep them.
It could be a great time to sell now, actually … I work with CashforSilverUSA and recommend them: https://www.wealthysinglemommy.com/go/cashforgoldusa-sell-gold
I want to sell my silver ring 925..nice big silver ring
CashforGoldUSA is a great company that will offer you a fair price and pay within 24 hours. Hit the link in the post. Good luck and let me know how it goes Sonja!