Best Place to Sell Silver: 12 Options to Consider

Place to Sell Silver: 12 Options to Choose From

Place to Sell Silver	Significant Details
Cash for Gold USA	Get paid within 24 hours
Facebook Marketplace	$0 fees
eBay	10% selling fee
Craigslist	$0 fees
The Royal Mint	Get paid within 7 days
Pawnshops	Instant cash payment
Local Coin Shops	Instant cash payment
Consignment Stores	Commission: 20% to 50%
Jewelry Stores	$0 fees
Antique Stores	$0 fees
Recyclers	$0 fees
Refinery	$0 fees

Cash for Gold USA

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Cash for Gold USA  is an easy way to sell your precious metals online. You will benefit from free shipping and insurance and get paid within 24 hours after accepting the appraisal offer.  

Cash for Gold USA will accept most items, including:

• Sterling silver jewelry
• Flatware 
• Dental scrap
• Coins 

This company also offers a price match guarantee. If a competitor with a valid appraisal offers more, they may increase their selling price. If not, your items will be returned to you free of charge. 

Facebook Marketplace

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Facebook Marketplace has grown in popularity over the recent years, so you can expect to find someone interested in buying your silverware.

It acts as an online marketplace where you can buy and sell items in your local area.  

As most of us already have a Facebook account, it’s quick to set up and easy to start selling. It’s also free to list an item.

Facebook doesn’t offer payment protection or vet buyers and sellers – be wary of potential scams. You’ll also need to arrange a meetup as Facebook doesn’t facilitate a delivery service. 

Note that Facebook doesn’t allow you to sell real money. So if you are looking to sell coins, you won’t be able to list them on Facebook Marketplace.

eBay

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Consider an auction website like eBay for selling silver online. Your item will sell to the highest bidder, or you can set a ‘buy-it-now’ price.

There’s an established market for silver on eBay selling:

• Silverware 
• Jewelry
• Sterling silver
• Coins and bullion

You can expect higher prices than other online dealers, and if someone really wants your item, they may bid above the asking price.  

There are some downsides to selling on eBay. eBay takes a 10% fee of the total sale price, and sending bulky items can be costly if you offer free shipping.

Craigslist

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You can find local buyers and private collectors on Craigslist. You can list the items you have for sale or look for posts by people wanting to buy silver. To make the sale, you then arrange a meetup.

It’s free to list an item on Craigslist, and with no additional fees, you’ll likely get nearer to the retail value. 

However, you are not protected as a buyer or seller if a sale doesn’t go according to plan. It’s best to meet in person and deal in cash to avoid potential scams.  

The Royal Mint

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If you have silver or bullion coins and bars to sell, the Royal Mint will offer you a competitive buy-back rate based on live prices. Although a UK-based company, they also accept non-UK coins and bars from other global mints.

Prices are based on quantity and size discounts meaning the cost per ounce will be higher with smaller units.

The appraisal is complete in 24 hours, but it can take up to 7 working days to receive the payment.

Pawnshops

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Pawnshops are a quick and easy way to turn your silver into cash. There will likely be one in your local area, and you’ll get your money on the spot.  

Don’t expect a reasonable price unless it’s a high-value item. And even in that case, it’s worth exploring other options first. 

Pawnshops are more likely to take pieces you are struggling to sell. 

Local Coin Shops

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The local coin shop is the best place to sell silver coins or bars. Coins generally hold their value and are also often sold as collector’s items. Coins issued by the government guarantee purity so that you can expect a higher resale price.

Most coin shops will take:

• Bullion – Silver coins that are also legal tender
• Rounds – Silver coins not  intended for legal currency
• Bars – Silver bars of various weights

Bullion is usually stamped with its weight and purity so investors can ascertain its worth.

An added advantage is getting a valuation and purchase offers on the spot. You also won’t have to pay for shipping or insurance.

If you want to sell scrap metal, a coin shop may charge an additional fee as the middleman.  

Consignment Stores

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A consignment is convenient as the store is responsible for selling your items. They also have local market knowledge, so you may be able to increase your asking price for sought-after pieces.  

Commission fees vary from store to store and may fluctuate based on current market values. However, typical consignment stores charge anywhere between 20% to 50% per sale for jewelry.

It’s important to note that you’ll receive payment only when your item sells. 

Jewelry Stores

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Jewelry by famous designers, antiques, or entirely unique pieces may have value as a collector’s item. If so, jewelry stores may be looking for what you have and be willing to offer you a decent deal for it.

If your piece contains gold or gems, you can also get the collective value.  

A jeweler may often be able to value your item immediately and make an offer. They can also point you in the right direction if you need to look for an alternative selling outlet.

Antique Stores

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Similar to jewelry stores, antique stores are very specific. Antique silver flatware has its own niche and can be high priced.  

Flatware is an umbrella term used to describe:

• Cutlery
• Serving utensils 
• Tea sets
• Trays
• Jugs or pitchers

An antique dealer will be able to give you a valuation in minutes. Along with checking for damage, they will be able to verify the period of manufacture and craftsmanship used. 

A piece can be transformed after restoration, so don’t dismiss something based on its appearance or condition.

Make sure you go to a reputable antique dealer that has been in the market for a while. Search for “Best Antique buyers near me” to ensure you sell to a trusted dealer and get a high cash return. 

Recyclers

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Recyclers buy silver to melt it down and turn it into something new. You can find local silver recyclers in your area by searching “Cash for silver near me” online.

You can also sell silver jewelry with precious stones that recyclers will break apart and use for something else.

Gold and silver mining is detrimental to the environment. By taking your silver to a recycler, you can make money and help the planet simultaneously.

Refinery

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A Refinery will melt down your scrap metal and sell it by weight. Anything broken, oxidized, or damaged is considered scrap and can be melted down. 

Scrap silver can include:

• Jewelry
• Medical scrap
• Serving sets
• Silverware

The price for your silver items from a refinery will typically be lower than in other options mentioned on this list. It’s because the refinery will melt your items before making something new.

It’s noteworthy that most refineries won’t accept small amounts. If you have anything less than 10oz, you’ll need to look elsewhere.