Silver can be sold to a nearby pawn shop or jewelry store, to a local gold or silver exchange or to a metal recycler, or to an online purchaser of quality jewelry or metals. When I started investing in silver, the immediate question that came to mind was “how do I sell silver in exchange for money or money when I need it? Of course, my way of thinking has changed, since silver is money and the goal was to exchange dollars for silver. However, there may be times when you need to sell for quick money for one reason or another. I hope this gives you some ideas if you have no idea where to start ???? ROUNDS, BARS, SCRAP This type of silver is also.
For the most part, this will likely sell for a spot or merger value. The fusion value is that if you have 10 ounces of silver, you will only get 10 ounces of the spot price of silver. JUNK SILVER This is a vague term for U.S. coins issued before 1965 that contain 90% silver.
Dimes, twenty-five cents, half dollars, and dollars fall into this category. A melt value at or just below the melt value is expected for this type of silver. This silver is ideal for preparers. Sterling silver or silverware is a silver alloy that contains 92.5% silver with 7.5% of some other metal, such as copper.
It has a long history in many countries being used as crockery or cutlery. It can be identified by a 925 mark or a registered trademark somewhere on the metal. Unless it's a rare, antique, or vintage item, you can probably expect a fusion value for this type of silver. Local coin merchants are the way to go if you live close to one.
These stores are a quick and convenient way to sell your silver coins. You can expect a decent price for your silver, depending on how honest the store owner is. While pawn shops have always had a bad reputation due to their lending practices, they do have a place in the world of precious metals. It's hard to say if there are more coin merchants or pawnshops.
There are approximately 12,000 pawnshops in operation in the United States. In addition to buying and selling precious metals, pawnshops also buy, sell, 26% “pawn” all types of items, not just coins and ingots. Probably the most popular way to buy 26% of silver is through online retailers. There is no shortage of ingot and precious metal merchants who operate online and have programs to buy silver.
Auctions are another way to sell your silver in cash. Increasingly popular, ingots, coins and silver products are being sold daily, with more than 33,000 listings for silver coins on eBay at the time of writing. Ebay's biggest concern is seller fees, which will wipe out your profit margins. Standard rates are 10% and go up from there.
This doesn't include insertion fees, upgrades, shipping costs, or PayPal costs, which represent another ~ 2%. So when you add all this up, you wonder how so many people are still buying and selling on Ebay. In addition to online dealers, community forums are another way to sell silver online. If you don't know any, it's probably best not to go this route.
I suggest that you do this locally as well and that you try to avoid sending your silver by mail if you sell it to a smelter or refinery. In addition, many of these companies won't want to mess with a small amount. If you have 5 to 10 ounces, you'll want to sell, look elsewhere. Sir, old coins for sale, please contact me, the coins are made of silver.
Anyone interested in buying, please contact me. I have the Liberty Gold 1795 coin. I have 64 ounces of mercury dimes that I've sold before on Ebay, but with a 13% fee plus shipping, you'll end up under the job. Most people know that you can sell unwanted gold, but do you have silver at home? Now you can also turn that old collection of coins, grandma's cutlery and much more into cash.
Silver-plated items can also be sold in cash as scrap silver, although their value depends largely on the type of alloy used and the thickness of the coating. If you send us a silver-plated item, we'll determine the content and value of the plating to ensure you get a fair price. . .