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Scrap Silver Value

Silver, just like any other precious metal, will always be a valuable metal which can provide you with liquidity at any point of time. If you have some old silver jewelry, old silver coins, or any other form of useless silverware that you don’t use, then you can sell it and avail scrap silver value for it. However, you need to know the spot price of silver by watching the trading market websites, so that you can avail the best bargain for your scrap silver.

Finding the value of your scrap

Before trying to sell your old silver, it is advisable to know your scrap silver value and get an idea regarding what it is worth. All you need to do is to find the weight in troy ounces, as the prices mentioned in exchanges and trader sites are invariably in troy ounces. After knowing the weight, you can calculate its value with the help of online calculators. In case of specific coins, there are many online calculators available with details of specific coins, and you just need to select the matching coin and the number of them in order to get the value.

The Purity Factor

When weighing your scrap silver, you must remove any other parts in the piece, such as some other metal in the form of a link or a clasp. You can even weight it in grams or ounces and then convert it. You can then go to an online calculator and enter the weight along with the purity of the scrap silver. The purity is usually mentioned on the piece in the form of percentage or decimals. You must next click on calculate in order to know the present scrap silver value of your jewelry or coin.

Collectibles fetch more

Checking out the purity is very important, as pure silver with a purity of .999 is also known as Fine. These will naturally have a greater scrap silver value, whereas those having a purity of 90% or less might bring in a value less than the spot price. Usually sterling silver is mixed with other metals like brass or copper in order to make it stronger and protect it from wear and tear. Some silver ware having only 90% purity might be marked as coin silver. Some pieces can be unique collector items and can fetch more as such, than as scrap or melt, as it has more value than the value of the silver content in it. An antique dealer might give you a better price for it. If your jewelry or coin is worth a premium above the spot price, then it should not be sold as scrap.

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