5 Best Places to Sell Silver for Cash [2024]

Do you have any old silver jewelry that you don’t wear anymore?

The good news is that you can sell your silver for cash without leaving your house. This article reveals the companies that will pay you top dollar.

So why not turn your scrap silver into cash today? It’s easy - check out the companies below to get started.

Where to Sell Silver Online

Finding the right place to sell silver in today’s market is simple when you choose from one of the following companies.

Let’s dive in and learn about the top five marketplaces to sell silver.

1. Cash for Silver USA

Cash for Silver USA could be the right choice if you want to sell silver for cash. Their process is simplified into a handful of easy steps that make it easy to sell your jewelry online.

Highlights:

• First, make a request for shipping to receive your appraisal kit and mail in your silver. Keep in mind that there is insurance on your piece if there is damage or loss through the mail.
• Once it’s received, you will receive a certified offer from an appraiser for your silver within 24 hours. These experts take their time to examine the silver, confirming authenticity, weight, and other essential features.
• If you choose to accept the offer, you will be paid immediately. You can have the funds deposited to PayPal or get a check in the mail; the choice is yours.

What Cash for Silver USA does best:

Cash For Silver USA is best for people that don’t have time to deal with the hassle of online auctions and need to get paid quickly.

Sell Your Silver with Cash for Silver USA

2. JM Bullion

JM Bullion makes it easy to lock in an estimated value on your items, so you know what you are getting when you send in your silver. There are just a few steps to get cash for silver.

Highlights:

• Get a quote online for your silver. When you choose to sell, make sure the type of pieces is listed. If you do not see the category listed, email the support team for more information.
• Once you receive a quote for your silver, you’ll receive instructions for shipping so your silver arrives safely and on time. Be sure you follow the directions emailed to you.
• Once JM Bullion receives your silver, they’ll give it the final approval and list it for sale. They’ll contact you right away and send your payment.

What JM Bullion does best:

JM Bullion avoids the headache of seeking out silver buyers in your local area when you need to sell your silver for cash.

Sell Your Silver with JM Bullion

3. eBay

eBay may be the best option for you if you want to ensure you get a great price and you’re not in a rush to sell. You can manage the entire selling process right from your home computer.

Highlights:

• Take pictures of your silver and post them on your account. You will need high-quality close-up photos to showcase your piece and provide details of the silver for sale.
• Have your silver appraised by a local appraiser with a certification of authenticity document listed.
• Post your silver for sale and interact with potential buyers.
• Once you have a buyer and agree upon a price, you will ship out the piece and receive payment through your eBay account.

What eBay does best:

By using eBay, you can use a single portal where you can connect with buyers and maintain the sale of the silver on your terms.

Sell Your Silver on eBay

4. APMEX

APMEX is a reputable company in the industry offering a simple, step-by-step process for selling silver and other precious metals.

Highlights:

• Get a quote for your pieces by making a request online or give them a call to speak directly with an expert. If you have a highly unique piece with more than just silver in it, call to provide details to the specialist.
• Once you are ready to ship, UPS will pick up your order and send it to the facility with expedited shipping. You will be sent all the necessary labels for this process.
• When the silver arrives, it will undergo a thorough assessment, and you’ll receive an official offer.
• If you approve their offer, you will receive payment the next business day through the method of your choice.

What APMEX does best:

APMEX has a long history of purchasing silver and other precious metals at market price and is an industry leader.

Sell Your Silver with APMEX

5. Sotheby’s

Sotheby’s is right for you if you are willing to wait for the top dollar on your piece and sell it to a high-end buyer.

They are especially interested in antique or vintage silver pieces that are no longer replicated or produced.

Highlights:

• Visit them online to get an estimate by giving a description, providing pictures of the item(s), and then submitting it to the specialists.
• Schedule an appointment online or with an industry specialist near you. With various locations in North America and worldwide, they are willing to meet you at a time that works for you.
• Choose between private sales, auctions, or immediate purchases for your item.
• Once your item has been thoroughly assessed, you will receive an offer.
• If you accept the offer, you will be paid promptly, minus any auction costs or selling fees.

What Sotheby’s does best:

For very rare and unique pieces, Sotheby’s may have a market of buyers that will give you the most money for your silver.

Sell Your Silver with Sotheby’s

Frequently Asked Questions

How much is silver worth?

Silver is a precious metal that has been used for centuries as a form of currency, jewelry, and other decorative items.

The value of silver jewelry is determined by its purity and weight; in general, the higher the purity and weight, the more valuable the silver.

The price of silver can also be affected by factors such as supply and demand, geopolitical events, and economic conditions.

For example, demand for silver may increase during periods of economic uncertainty, as investors view it as a safe haven asset.

The price of silver can be volatile, so it’s essential to keep up with current market conditions before buying or selling any silver products.

How many grams in an ounce of silver?

There are 28.35 grams in one imperial ounce of silver, but there are 31.1 grams in a troy ounce, which is explicitly used for weighing precious metals.

The troy ounce originates from medieval times and gets its name from the French market town of Troyes. It was once commonly used throughout Europe but has largely been replaced by the standard ounce.

When buying or selling silver, it is vital to know the difference between the two measurements. For example, some countries use the troy ounce to measure silver bullion, while others use the standard ounce.

The price of silver can also vary depending on the purity of the metal. Silver that is 99.9% pure is known as fine silver, while silver that is 92.5% pure is known as sterling silver.

The higher the overall purity, the more expensive the silver will be. Therefore, when buying or selling silver, it is essential to know the weight and purity of the metal.

How do I determine the value of my silver items?

Determining the value of your silver items involves several key factors, particularly focusing on silver purity, the type of item, and current market conditions for precious metals. Here’s a detailed guide to help you evaluate the value of items like silver coins, sterling silver flatware, and unwanted silver jewelry:

Identify the Purity: Silver purity is crucial in assessing value. Most silver items, especially jewelry and coins, will have a hallmark or stamp indicating their purity. Sterling silver, for example, is typically marked with “925,” indicating it is 92.5% pure silver mixed with other metals for durability. The higher the purity, the more valuable the piece.

Weigh the Silver: The weight of the silver contributes significantly to its value. Weighing your items will help determine how much silver they contain. Silver is usually sold by the ounce in markets dealing with precious metals.

Assess the Market Value of Silver: The price of silver fluctuates daily based on market conditions. Check the current market price for silver, usually quoted per ounce, to get an idea of the raw value of your silver’s weight.

Consider the Item’s Condition and Collectability: For items like sterling silver flatware or special silver coins, their condition, and collectability can add premium value beyond the melt value of the silver. Collector’s items or antique flatware can be worth more because of their historical significance or unique design.

Consult with Experts: For a more accurate assessment, especially for valuable or intricate pieces, consult with a professional appraiser who specializes in silver or precious metals. They can provide a detailed valuation considering all aspects, including artistic value and market demand.

Get Quotes If Selling: If you plan to sell silver flatware or any silver items, it’s wise to get quotes from multiple buyers, such as pawn shops, jewelers, or online precious metal buyers. This will help you understand the market better and ensure you receive a fair price for your silver.

By assessing these factors, you can effectively determine the value of your silver items and make informed decisions whether you’re looking to sell, insure, or simply understand the worth of your possessions.

How can I tell if my silver is real and what its purity is?

Determining if your silver is real and assessing its purity are crucial steps, especially if you’re considering selling silver online or dealing with other precious metals. Here are several methods to help you verify the authenticity and purity of your silver items, such as silver coins:

Hallmarks and Stamps: Look for markings on your silver items that indicate their purity. Genuine silver products, like sterling silver, typically have stamps such as “925,” “Ster,” “Sterling Silver,” or specific hallmarks that denote 92.5% silver content. These markings are often a reliable indicator of silver purity.

Magnet Test: Silver is not magnetic, so you can use a strong magnet to test your items. If the magnet attracts the metal strongly, it’s likely not real silver. However, some non-silver metals are also non-magnetic, so this should not be the only test used.

Acid Test: This test should be done with caution and possibly by a professional. Acid test kits can be purchased, and when a small amount of acid is applied to the silver, the color response will indicate its purity. Be aware that this method can leave slight marks on the silver, so it should be done on a small, less noticeable area.

Density Test: Silver has a specific density, and this test, though more complex, can be very accurate. It involves calculating the density of the item by measuring its weight and its displacement in water. This test might require professional assistance for precise measurements.

Sound Test: Real silver has a high-pitched, resonant sound when struck. If you tap your silver item gently with something like a metal utensil, it should produce a clear ringing sound. This is not a definitive test, but it can be a helpful preliminary assessment.

Compare Silver Prices: Be aware of the current market value of silver. This knowledge can help you assess whether the price offered for your silver, whether you sell gold or silver, is reasonable based on its alleged purity. Selling prices that are significantly lower than the market price for silver might indicate lower purity or counterfeit items.

If you’re still unsure about the purity or authenticity of your silver after these tests, consider consulting with a reputable precious metal dealer or a professional appraiser. These experts can provide more sophisticated testing and ensure you get accurate information, especially important if you plan to engage in selling silver online or trading other precious metals.

Bottom Line

If you have scrap silver you want to get rid of, there are a few reasons why selling online is a good idea.

First, you will likely get a higher price for your silver online than you would if you sold it to a local jeweler or pawn shop. Online buyers are willing to pay more for silver because they can sell it for a higher price.

Additionally, selling online is convenient and easy. You can take a picture of your silver and list it for sale on a website or marketplace. This is much easier than taking it to a local buyer and haggling over the price.

Finally, selling online is safe and secure. You can be sure that you will receive payment for your silver once the buyer receives it.

Overall, selling online is the best way to get the most money for scrap silver.