Are you selling precious silver items for scrap prices? Read how & where to sell before you do

Do you have some silver items that you want to sell? There are a couple of different ways you can sell antique silver bowls and other silver items. The easiest method is to sell them as scrap silver. This involves finding a business that will buy the silver from you for its current value. They then melt down the items and sell off the silver to a company that will use it to make something else. A quick search for “where can I sell silver bowls” is likely to reveal a number of these businesses in your area.

Antique Silver

Is This the Right Method for You?

Selling your antique sterling silver bowls and other silver items as scrap may not actually make you the most money. If your items are truly antiques, they’re likely worth much more as they are. Before you sell them to a scrap business, make certain you’ve researched the piece and know what it’s truly worth. You may be able to get much more for it by selling to silver bowls collectors online.

Antique Collection

Understanding How it Works

When you sell to a silver scrap business, they usually pay you the current silver value per Troy ounce for your item. It’s important to know that it’s by Troy ounce, which is 0.911 of a U.S. ounce. Before you sell, determine the weight of your pieces in Troy ounces. Next, go online and look up the current value of silver per Troy ounce. Multiply that times the weight of the piece to get its value.

Take Premiums into Account

Remember, though, that you’re likely to get less than what you’ve calculated. Buyers charge a fee to purchase scrap silver. This covers their time in evaluating your items, the work it takes to melt them down, and provides them with a profit when they resell the silver. Some places charge as little as two percent, while others may charge upwards of twenty percent.

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Posted in Antique Collection, Antique silver, Silver Bowls, sterling silver.