You have silver and you’re not sure what to do with it. Whether it’s silverware, silver jewelry, or silver coins, there are a variety of places you can sell it, but not everyone pays equally. Check out some of the most popular places you can sell silver (and which places you may want to avoid).
Pawnbrokers will significantly underpay for any type of silver you bring in. The prospect of quick cash can be appealing, but if time is an issue, you can often get more money the same day from a cash-for-gold business or from a jeweler.
Traveling Silver Buyers
Another place to avoid is traveling silver buyers. They come into town, advertise that they’re buying gold and silver, often from a hotel, and offer some of the lowest prices you can get – if you get paid at all. If you have no way of tracking down the buyer after the fact, don’t leave your silver without cash or payment in hand.
You’ve probably seen the ads on TV for cash-for-gold businesses, many of which have expanded to also buy silver. These can be a good place to sell jewelry if you need the money quickly, but generally they melt down silver jewelry to be recycled. That means they’re interested in paying for the silver contents and none of the premium for jewelry.
While you won’t be able to sell silver products like scrap silver or silver coins with a jeweler, they can give you great prices for silver jewelry. It’s a good idea to take your silver jewelry around to three or four local stores before settling on a deal. You may also want to get it appraised.
If you think you have a piece of silver jewelry or silverware with some history behind it, you may want to try your luck at an antique store. This is likely the only place that will pay the kind of premium that comes with an antique or collectible (except for collectible silver coins – head to a coin store or online silver coin dealer for those).
Silver Dealers Online
Silver dealers online are one of the most reliable places to sell silver jewelry, silver coins, and scrap silver. The process is simple at silver dealers like Silver Gold Bull. Send a description of the product online, get a quote, and then ship it with insurance. When you sell silver at SilverGoldBull.ca you can expect the payment within 3-4 days after the product has been received. The process is simple, and payment is relatively quick.
Silver dealers online are also ideal for selling silver coins, especially silver bullion coins from a mint. It’s always a good idea to buy silver coins from a dealer with two-way trading. Silver bullion should be treated like any investment.
They’re also increasingly an option for selling luxury watches and silver jewelry and they often offer better prices than cash-for-silver stores with high overheads. When it comes to selling luxury watches, increased demand for preowned Rolex, Tag Heuer, Omega, Cartier, and other brands mean you can often get a good price.
You can sell silver at a great price if you know what you have and where to go. Taking time to do your research will net you a better price. Check out local silver stores and get a quote online from a silver dealer before you sell your silver.