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:
What is the best way to sell silver?
How silver prices work — spot price vs what you will actually get in cash
- Value of fine or pure silver vs. sterling
- Value of silver plated vs. sterling
- Value of silver vs. white gold
- Value of argentium silver vs sterling
How much do you get for selling silver?
What is the best way to sell antique silver?
FAQs about the value of silver
What is the best way to sell silver?
We have extensively researched the top silver buyers, and our recommendation is this:
- If you need cash ASAP, research quality local pawnshops, jewelers and gold and silver buyers. The value is getting cash right away when you need it and working with a local business that you trust. However, every community is different and businesses vary — so shop around. And no matter who you sell to, negitate.
- Online silver buyers make it easy to get a quick quote for your 925 sterling silver jewelry, silver scrap, silverware, flatware or coins today. Selling from home by USPS or Fedex is now very safe — and many people prefer the convenience and privacy. Quality online silver buyers insure your item and pay a fair price.
Learn more in this post about the most common buyers of silver: pawn brokers, jewelers and coin dealers, and the top online silver buyers.
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 value or weight. Learn more about CJ Environmental and its sister sites in this review of CashforSilverUSA and CashforGoldUSA.
How silver prices work — spot price vs what you will actually get in cash
As of , the silver resale value in the United States was at $ per ounce, or $ per gram.
However, not all silver is the same — and spot price is not what you will get if you sell your silver.
The term “spot price” refers to the price per troy ounce that someone pays for raw silver before it has been converted into jewelry, coins, bars or some other format. It's how much they pay “on the spot.” Spot prices are used in other metal commodities, including silver, gold, copper and platinum.
Everyday consumers looking to buy silver jewelry or sell silver flatware don't buy and trade silver at spot prices.
Instead, wholesalers, jewelers and traders might purchase silver at spot prices, which is usually one Troy ounce of metal, or 1.097 ounces of silver. When you see 1 oz silver spot price or 24 hour spot silver price, refers to that on-the-spot price that a metals trader pays per troy ounce.
Market price refers to a price that someone is willing to pay for something. So, spot price is a market price that a commodities trader would pay, but a pawn broker or an online silver buyer would pay a different market price (a pawn broker typically pays about 50% to 80% of the retail value of your item).
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. Learn more about symbols stamped on jewelry, as well as details about selling sterling silver.
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 silver value. Occasionally, very desirable silverware brands, some branded jewelry like Tiffany and David Yurman 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
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.
Value of silver plated vs. sterling
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 vs white gold.
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.
Value of argentium silver vs sterling
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: 3 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).
2. Understand what you have and its approximate value
You're less likely to get swindled if you understand the value of your silver before you start dealing with a buyer.
If you have coins or jewelry, note the markings, called stamps or hallmarks are small marks left in silver objects by the silversmith who created the item.
This is our complete guide to jewelry stamps and markings.
Note the grade of silver, and check against the day's spot price.
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.
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
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 $297 (June 2024 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 (scrap) value of your silver.
If the jewelry is by a famous designer, is an antique, or is truly unique, then it might be of interest to an 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.
FAQs 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. Similar for “hotel” silver.
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.
Bottom line: Is it a good time to sell silver in 2024?
Silver is expected 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. Silver prices are already very high (as are gold) so it is a solid time to sell — especially if you need the money now.
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. If you need immediate cash, local pawn shops and metals exchanges are also good choices.
As of June 5, 2024, the silver resale value in the United States was at $29.71 per ounce, or $1.05 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!