How to sell silver for cash in 2021

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Silver is a naturally occurring white (or, well, silver) metal that is used to create jewelry, coins, and tableware or flatware. It’s also used extensively in electronics, due to its conductivity, and in pharmaceuticals, due to silver’s natural properties as an antibiotic.

What is the best way to get cash for silver?

Online silver buyers make it easy to get a quick quote for your silver jewelry, scrap, silverware, flatware or coins.

Top online silver buyers:

Silver prices are reaching record highs, much like gold. A reputable place to sell your silver jewelry, silverware, coins and silver scrap is CashforSilver, the sister site of CashforGoldUSA, which has an A+ Better Business Bureau rating, pays within 24 hours and guarantees the highest price, or will return your item with no questions, free of charge. 

Learn about other silver buyers.

How to sell your 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 pawn shop, a silver exchange, consignment shop, a local jeweler, or by using an online website. 

1. Check the markings on your silver to understand its quality.

Before selling your silver to anyone, though, it’s important that you understand the current going price for the metal so that you will not be ripped off. Typically, you’ll never get the exact 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. Learn more about silver markings.

2. Check Kitco's silver price.

Kitco's exchanges provide a widely accepted market spot price for precious metals, including silver prices.

3. Seek a reputable buyer.

And read why we recommend using an online silver buyer.

What to expect when selling silver

How to sell silver flatware

Similar to selling jewelry (above), you can sell your silver flatware by either bringing it to a pawn shop, silver exchange, or leveraging 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.

Silver flatware is often 90% silver, though that percentage can vary substantially. Silver-plated flatware will contain much less silver.

Again, though, it is worth noting that antique or collectible items may hold more value due to their craftsmanship or history. An appraiser or antique shop may be able to offer you guidance on this worth and may even purchase the items from you.

How and where to sell silver bullion

Silver bullion can be sold in the same places as silver jewelry, flatware, or coins. Pawn shops, silver exchanges, and online silver buyers like CashforGoldUSA will give you cash for your silver bullion.

Silver bullion is typically 99.9% pure silver.

How to sell 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.

Collectible silver coins, especially those with historic value, may be worth more in their current state. If you believe that you may have a valuable silver coin, a coin shop or appraiser can help you understand the value of your coin before you sell it. 

Common silver coins in the US that you may possess and choose to sell include:

  • Morgan Dollars
  • Peace Dollars
  • Liberty Head (Barber) Half-Dollars
  • Walking Liberty Half-Dollars
  • Franklin Half-Dollars
  • Kennedy Half-Dollars
  • Liberty Head (Barber) Quarters
  • Standing Liberty Quarters
  • Washington Quarters
  • Liberty Head (Barber) Dimes
  • Winged Liberty Head (Mercury) Dimes

Learn more about selling an inherited coin collection

Silver frequently asked questions

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. 

How much is silver worth?

Silver is worth however much a buyer is willing to pay for it. This price typically varies from day to day, week to week, and month to month as the demand for silver increases or decreases. When demand is up, silver melt value goes up; when demand is down, silver is worth less. 

Value of silver today—check the price of silver

As of May 10, 2021, Kitco silver prices closed at $27.33 per ounce, or roughly $0.88 per gram. This represents a 7.88% increase in price over the course of the last 30 days, and a 76.06% increase in price over the last year.

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. 

How much is silver worth per gram?

As of May 10, 2021, Kitco silver prices closed at $0.88 per gram. This represents a 7.88% increase in price over the course of the last 30 days, and a 76.06% increase in price over the last year.

How much is silver worth per ounce?

As of May 10, 2021, Kitco silver prices closed at $27.33 per ounce. This represents a 7.88% increase in price over the course of the last 30 days, and a 76.06% increase in price over the last year.

Pricing silver today via a price for silver calculator

Do you currently own silver, whether in the form of jewelry, silverware, coins, or something else? So long as you know the weight (typically in ounces or grams) and the purity, you can use a silver price calculator that includes Kitco’s price for silver to determine the melt value of your silver. 

How to tell if silver is real

You can quickly determine if silver is real using a number of tests:

  • Does it have a hallmark or stamp? Commercially sold silver is legally required to carry these marks in most countries.
  • Is the item magnetic? Silver is a non-magnetic metal, so if your magnet sticks then the item is likely not made from silver.
  • Does it smell? Silver is an odorless metal, compared to others (like copper or iron) which can have a sometimes potent scent.
  • Is it rusted? While silver will tarnish, it will not rust.

What are silver markings?

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.

How to sell jewelry — what you need to know to value your item.

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.

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. 

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. 

Get a free quote for your silver from CashforGoldUSA now >>

I inherited the family silver. What can I do with it?

If you’ve inherited the family silver—in the form of silverware, flatware, coins, jewelry, or even silver bars and ingots—but don’t want it, you have a number of options to sell it:

You can pawn it if you need cash quickly, but just know that you’re not likely to get a fair deal. Most pawn shops only pay about half the resale value of whatever it is they’re buying.

You can have a tag sale, garage sale, or estate sale, but there’s no guarantee that you’ll find a buyer. If your silver doesn’t sell by the end of your sale, resist the temptation to mark the price down.

Our recommendation is to find a trusted online silver buyer, like CashforSilverUSA, who you know consistently pays top dollar for silver and other precious metals. CashforSilverUSA is our favorite because:

  • Shipping and insurance are always free
  • If you don’t like their offer, they’ll return your item free of charge
  • They consistently pay more than their competition
  • They pay fast—within 24 hours of you accepting their offer
  • They also accept gold, platinum, and diamonds, making it easy to liquidate an entire estate than if you tried selling to someone who only took silver

Learn about online jewelry auctions and what to expect

Frequently asked questions about selling sterling silver

Is it worth it to sell sterling silver? 

Yes! Sterling silver consists of 92.5% silver and 7.5% some other metal (often copper). As such, your sterling silver items can still be worth quite a bit of money, and are certainly worth selling. What’s the alternative—holding onto it and letting it clutter up your house? 

How much does sterling silver sell for? 

Sterling silver is worth 92.5% as much as pure silver, since that is how much pure silver sterling silver contains. To find out how much your sterling silver is worth, you will need to do a simple calculation:

  1. Find the weight of your sterling silver in ounces
  2. Multiply that weight by .925 to determine how much pure silver you have
  3. Multiply that number by the current price of pure silver (in ounces)

How much do pawn shops pay for sterling silver?

As a rule of thumb, pawn shops will usually pay around 50% of the resale value of an item. That means that if you had $100 worth of sterling silver, you’d likely get around $50 for it from a pawn shop. While this can get you cash fast, you will usually find much better deals through online silver buyers, who often pay within a few days. 

Where can I sell my sterling silver Pandora bracelet?

Currently, Pandora does not have a buyback program. If you have an old silver Pandora bracelet or charms that you no longer want, you can sell them in the same ways that you might sell any other silver. Pawn shops, jewelry stores, and online silver buyers will all accept your Pandora items. 

Learn more about selling bracelets

Is it a good time to sell silver or sterling silver?

The price of silver peaked at $49.45 per ounce back in 1980 and came close to that number again during the Great Recession of 2007-2009, but that doesn’t mean that now isn’t a good time to sell your silver. The price of silver is currently higher than it has been throughout most of its history, even if it is not at its peak.

It’s important to remember that timing the exact top or bottom of any market is difficult, if not impossible. That means that there’s always the possibility that you could sell your silver today, only for the price to spike tomorrow. At the same time, you could sell it today only for the price to drop tomorrow. If you’re thinking about selling your silver, you have to accept this uncertainty as a part of life or you’ll go crazy. 

Bottom line: Should I sell my silver?

The answer to this question is a personal one. 

If the silver is in the form of a family heirloom, such as an antique or piece of jewelry, that you love and treasure and one day hope to pass on to your child, then you may want to think twice before selling it for cash. There are other ways that you can raise cash in a pinch if you need it.

If, on the other hand, the silver is in the form of broken jewelry, jewelry that you no longer wear or enjoy, or table/flatware that never sees the light of day, selling it can be a great way of removing clutter from your life and giving you cash that you can use to pay down your debt, put towards a home or your kids’ college fund.

Learn more about CashforSilver's parent company, CashforGoldUSA in this user review.

Wealthysinglemommy.com founder Emma Johnson is an award-winning business journalist, activist, author and expert. A former Associated Press reporter and MSN Money columnist, Emma has appeared on CNBC, New York Times, Wall Street Journal, NPR, TIME, The Doctors, Elle, O, The Oprah Magazine. Winner of Parents magazine’s “Best of the Web” and a New York Observer “Most Eligible New Yorker," her #1 bestseller, The Kickass Single Mom (Penguin), was a New York Post Must Read. As an expert on divorce and gender, Emma presented at the United Nations Summit for Gender Equality and multiple state legislature hearings. More about Emma's credentials.

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