Many of us have small hordes of silver jewelry, coins, silverware or even bars or ingots of silver that we move from place to place, saving it for a “rainy day emergency” or, if we're lucky, something fun like a family dream vacation.
If you're ready to turn your silver into cash, we've got 8 suggestions for you, including online silver buyers and local silver buyers, including silver recyclers, silver traders, and jewelers.
As of , the silver resale value in the United States was at $ per ounce, or $ per gram.
If you’re thinking about selling your silver, it’s important to find a reputable buyer like Cash for Silver USA that you trust won’t rip you off.
Where to cash in silver: 9 places that buy silver
Below is a look at the best places to sell your silver, including our #1 recommendation when it comes to selling your silver:
- CashforSilverUSA: Best online buyer of silver, precious metals and jewelry
- Other online silver buyers
- Pawn shops
- Local jewelers
- Consignment shops
- Antique stores
- Scrap metal dealers
- Coin dealers
- Gold and silver recyclers
How much do silver buyers pay?
A general rule of thumb is that a reputable silver buyer will buy at spot price — that is the price of silver today, adjusted for the quality of the item. Learn more about the types and value of silver, including sterling silver.
If you have a collectible coin, silver jewelry that is branded or otherwise valuable as-is, then the price should reflect the retail value of these items, minus approximately a 20% fee.
Search for “online silver buyer” and sell your silver online
One of the easiest ways of selling silver is to find an online buyer. Pro tip: Any location that buys silver, will nearly almost always also buy gold.
- Search for “online silver buyer” and sell your silver online
- Search for “who buys silver near me”
- Search for “cash for silver near me”
A simple Google search for “online silver buyers” or “online gold buyers” will yield a lot of potential companies willing to buy your metal. It’s a competitive space, with a lot of well-known companies all vying for the same sellers. That’s good news for you, since competition typically translates into higher prices!
CashforGoldUSA's sister site CashforSilverUSA is the online silver buyer that we recommend. The company buys silver in all of its forms, including:
- Broken or damaged silver jewelry
- Scrap silver
- Silver bars, ingots, and bullion
- Silver flatware
- Silver coins
- Silver jewelry
Best silver buyer: CashforSilverUSA
Our top recommendation overall is the CashforSilverUSA, which pays within 24 hours and has an A+ rating with the BBB.
CashforSilverUSA is a sister site of CashforGold. The sites accept all forms of silver, from coins and jewelry, silverware, scrap, bullion, ingots, bars, as well as gold, diamonds and gemstones.
Selling your silver to CashforSilver works like this:
- Visit the website and provide your contact information, including your address and email.
- They will send you a free FedEx shipping label that you can use to send your items in.
- Once they receive your items, the items will be appraised within 24 hours, at which point you will receive payment by Paypal, print-at-home check, direct deposit, personal check by Fedex or First Class USPS or Virtual Visa credit card.
If the amount is less than you expected, they will happily return the items to you and cancel payment free of charge. All you have to do is contact them within 10 business days of receiving the check.
Other online silver buyers
Of course, there are many other online silver and gold buyers:
- JM Bullion
- Liberty Gold and Silver
Each of these companies is reputable, and can be trusted to buy your silver. That being said, CashforSilverUSA beat them out for a couple of reasons:
- CashforSilverUSA’s provides a free shipping label and insurance for you to send your items to them, which means you get your appraisal without putting a penny down
- Risk-free cancellation means that if you don’t like the final offer they make for your silver, you can decline and get your items back at no charge
- You can receive your money within 24 hours of confirming that you accept their offer, which is virtually unheard of in the industry and an excellent option if you need your cash fast
- CashforSilverUSA offers a 10% bonus if you send them your silver within a week of receiving your mailer, which often makes them one of the highest-paying silver buyers out there
- More than 250,000 people have sold their silver to Cash for Silver USA, and their A+ rating and excellent reviews with the BBB makes them one of the most trusted buyers in the industry.
Where can I find “silver buyers near me”?
If you don’t want to sell your silver to an online buyer, you can always look for a physical buyer near you. Gold and silver buyers, jewelers, and pawn shops buy precious metals of all kinds.
Pawn shops, local jewelers and consignment shops
Silver is nearly always in demand, and you should be able to find someone either online or in your community to buy it. These can include:
What to expect when pawning silver
When you sell your silver to a pawn shop, what you’re really doing is getting a loan and putting your silver up as collateral. If you don’t pay back that loan within a certain period of time, then you forfeit the silver that you’ve put up as collateral, allowing the pawn shop to turn around and sell the silver for a profit. Pawn shops also often charge “fees” for this loan, which comes in the form of less money in your pocket.
Because of the mechanics behind how this works, most pawn shops will offer lower prices for your silver than you will find through an online buyer. After all, reselling your silver at a markup is how they make their money. As a general rule of thumb, you can expect to get half as much for your item when you sell to a pawn shop than if you were to sell to many other buyers.
The main draw to pawn shops, of course, is that they offer you a way to sell your silver for cash immediately. But with online buyers offering faster and faster payment options (CashforSilverUSA can pay within 24 hours of receiving your items, for example) this benefit loses a lot of its value.
How much does a pawn shop buying silver pay?
Like with other items bought by pawnbrokers, expect to receive 25 to 50% of the retail value of your silver at a pawnshop. More on the pawnshop experience here.
Antique stores, scrap metal dealers, coin shops and recyclers
What to expect from silver buyers or coin shops near you:
Usually when people opt to sell silver in person to a buyer near them, instead of to an online buyer, it’s because they’re uncomfortable with the idea of sending their silver through the mail. That’s understandable, but it’s important to understand that in-person buyers like pawn shops will often pay less than online buyers. That’s because they have less local competition compared to online buyers, which means they can get away with paying less.
If you’re weary of sending your silver through the mail, find an online buyer that offers free shipping and insurance on your items, like CashforSilverUSA.
The same stores that buy gold for cash will also typically buy silver for cash. So, you can also search for “gold and silver buyers near me.”
But just like selling to a pawn shop or jewelry store, these buyers typically face less competition locally than online buyers. That usually translates into you getting less money for your silver than if you were to go to an online buyer.
What is silver worth now?
As of , the silver resale value in the United States was at $ per ounce, or $ per gram.
Bottom line: Where is the best place to sell your silver, silver buyers near me or online?
Selling that silver is an excellent way of making some cash that you can use to buy something you actually want, pay down your debt, or bolster your savings account.
Ultimately, the best place for you to sell your silver will depend on exactly what it is:
- A potentially valuable silver coin should be brought to a collector or coin shop for appraisal. You don’t want to melt down a priceless coin if you could get more by selling it to a collector!
- A silver antique should be brought to an appraiser or antique shop, for the same reason.
Damaged or unused silver jewelry, flatware, or bullion, or other items should be sold to whoever will give you the most money for it. CashforSilverUSA is a site that I personally trust, for a few reasons:
- CashforSilverUSA pays within 24 hours
- BBB A+ rating
- Price match guarantee
- Free return guarantee
- 10% bonus if you ship within 7 days
This post is a review of CashforGoldUSA, the sister site, which elaborates on my personal experience with selling fine jewelry, and more details about this family-owned company.
A general rule of thumb is that a reputable silver buyer will buy at spot price.
Silver is nearly always in demand, and you should be able to find someone either online or in your community to buy it. These can include: pawn shops, consignment shops, and jewelry stores.
Like with other items bought by pawnbrokers, expect to receive 25 to 50% of the retail value of your silver at a pawnshop.
Ultimately, the best place for you to sell your silver will depend on exactly what it is. A potentially valuable silver coin or antique should be brought to a collector or coin shop for appraisal. Damaged or unused silver jewelry, flatware, or bullion, or other items should be sold to whoever will give you the most money for it.