Best Places to Sell Gold and Jewelry
Cash for Gold USA
Cash for Gold USA will buy gold of any karat from 8k to 24k, and in any form, even scrap
Quick processing time for quotes – within 24 hours once gold is received
Free FedEx shipping label insured up to $5000 for you to send your gold
Express Gold Cash
Sell any jewelry – bracelets, rings, necklaces, watches, earrings, coins, platinum
Free, overnight shipping for your items with insurance for up to $5,000
Accept the offer, and receive your payment within 24 hours or get a free return
How Much Is Silver Worth?
In recent times, the price of silver has hovered around the $20 mark for every ounce. However, if we were to look back on the history of silver prices, we find that the silver market is prone to the same fluctuations as other precious metals such as platinum and gold.
Some factors that can cause changes in the market price for silver include:
- Industrial demand – many factories and industrial operations use silver for machinery, wiring, and other purposes
- Supply of silver scrap from recycling and other sources
- Interest rates – high federal interest rates can decrease gold prices and vice versa
Between 2012 to 2022, the price of silver fluctuated between $12 to $35 per ounce, showcasing how unpredictable the prices of silver can be. In fact, between August 2012 to August 2022 alone, the value of silver fluctuated between $18 to $27 per once.
Given the volatility of silver prices, you should check to see the latest market prices for silver if you intend to buy or sell silver.
Where Can I Get the Most Money for Silver?
Selling silver scrap metal or jewelry can be lucrative, especially if you have spare silver lying around in the home that you do not use. Selling your silver when the price of silver is high is a surefire way to ensure that you get a reasonable price for it.
Regardless of when you sell your silver, however, who you sell your silver to can also make a big difference in how much you earn. Some of the best places to sell silver and get the most money for it are summarized in the table below, along with the benefits of each one.
|Best Places to Sell Silver||Benefits|
|Cash for Silver USA||Get up to three times more compared to other dealers|
|JM Bullion||Get an online offer for your silver|
|Kitco Online||Buyback prices are listed on the website|
|SD Bullion||Get paid within 1 to 3 working days|
|eBay||Auctions can help you get the highest price for your silver|
|Local Pawn Shops||You can get an instant appraisal and offer for your silver|
6 Best Places to Sell Your Silver
Cash for Silver USA
If you have researched places to sell precious metals, you would probably have heard of Cash for Silver USA. It is a popular remote buyer of precious metals, including silver.
According to Fox, Cash for Silver pays up to three times more than other dealers for silver. Thus, selling to them remains one of the most profitable ways to sell silver.
Moreover, the company also buys silver in all conditions and forms, including:
- Silver bars
- Silver flatware
- Silver flake
- Paint containing silver
- Silver epoxy
- And any item that has silver at all
Selling to the company is also straightforward. Use the free mail-in kit they provide to ship your silver items to the company. Once your shipment reaches them, they will appraise it and give you an offer within 24 hours. If you accept the offer, you will receive payment via PayPal, check, or bank wire.
eBay has always been one of the best websites to sell anything online. As a seller on eBay, you can list almost any item you want, as long as it does not violate the website’s rules. Thus, this makes eBay a good option if you want to make some quick cash by selling your silver.
eBay also allows you to check out how much similar items to yours sold for recently. This feature can help you get a rough idea of how much your silver items are worth. You can then use this information to set a fixed price for your silver. Alternatively, you can also create an auction, enabling you to get the best possible price for your silver.
The website processes all payments via PayPal and sends payment after you mail the item to the buyer.
JM Bullion is a precious metals dealer that buys and sells silver and other precious metals in different forms. To start selling your silver to the company, you need to create an account on their website. You can then provide information on the silver you intend to sell, after which you will get an offer.
However, note that the company primarily buys private and government-issued bullion coins, bars, and collectible silver coins. Thus, if you have silver jewelry or scrap silver, it is unlikely that you will be able to sell it to JM Bullion.
You should also note that the company has a minimum purchase requirement of $1000. Thus, if you only have a small amount of silver to sell, you can consider an alternative platform on this list instead.
Kitco Online is an online precious metals dealer and one of the best places to sell your silver. Apart from silver, the website also trades in gold, palladium, and even rhodium. The website publishes a list of the most common silver products that are traded in the bullion industry, as well as their buyback prices for each of these products.
Some of the silver products that you might find listed on the website include:
- Collectible and commemorative silver coins
- Government-issued silver coins
- Silver bars from different private companies
In addition, the website will also match any reasonable bid on high-value transactions. Thus, you can ensure you get the best price for your silver when selling to Kitco Online. However, note that there is a minimum order of $2000 to sell your silver to the website.
SD Bullion is a popular website and one of the best places to sell your silver. The company will buy any amount of silver above 20 ounces and you can find estimated prices for different types of silver items on their website. The more common types of silver that SD Bullion buy include silver coins and bars.
To sell your silver to them, you will need to call the company to provide details of the silver items that you want to sell. A professional agent will assess whether the company wants to buy your silver. If they do, you will receive an offer for your silver.
Upon accepting SD Bullion’s offer, you will receive shipping instructions that you must follow to ship your silver to the company. Once they receive your silver and inspect it for authenticity, you will receive payment for it within 1 to 3 working days.
Local Pawn Shops
Local pawn shops are convenient alternatives to the other places on this list if you want to sell your silver. Most pawn shops will buy silver and silver items as long as they are in decent condition. However, if you have scrap or raw silver, pawn shops often will not buy it from you and you can consider using an online silver buying website instead.
You can find a pawn shop in your neighborhood in under 5 minutes by doing a quick Google search. Search for “pawn shops in [insert the name of your neighborhood here]”.
Here are some tips to help you get the best price on your silver when selling to a neighborhood pawn shop:
- Read online reviews of the pawn shop beforehand to see if they are legitimate and whether their buying rates are good
- Find out the purity of your silver items to estimate how much their market value is
- Do some research to find out what the current market price of silver is
- Call the pawn shop up in advance to see if they are willing to disclose the rate at which they are buying silver
- Compare multiple pawn shops in your neighborhood to find the one that is most legitimate and pays the most
Others Sites to Sell Your Silver
Alternative Websites to Sell Stuff
Frequently Asked Silver Questions
What is a good price to sell silver?
A good price to sell silver is typically around 80% of its market value. This is because unless you are a large-scale dealer or wholesaler, you are unlikely to be able to get the market price for your silver.
Is it worth selling sterling silver?
Sterling silver is one of the highest qualities of silver and selling it can be very worthwhile. Given its high purity, many buyers are often willing to pay a higher price for it compared to other types of silver. Thus, you will likely get a good price when you sell sterling silver.
What to expect when selling silver?
When selling your silver, you should also bear in mind that most buyers will not be willing to pay you the market value for your silver. This is because silver dealers commonly make money by reselling silver or melting it down and repurposing it. Buying at a price lower than the market price enables them to make money and stay in business.
Hence, you should expect to get an offer for around 70% to 80% of the market value of your silver when you sell to a good buyer or dealer such as Cash for Silver USA. Otherwise, you may even get an offer for a lower percentage than that.
Is this a good time to sell silver?
The price of silver has been on a generally downward trend since 2020, and it may be better to hold onto your silver if you are not comfortable with the current market price for it.
However, the silver market can be volatile and there is always a chance that prices will not increase for a long time. Thus, you should conduct your research and analysis of the silver market when deciding whether or not to sell your silver.