Whether you own silver coins, jewelry, collectibles or silverware, the good news is that you can sell them and make money. Now we don’t promise a fortune here but you can definitely earn some extra cash and treat yourself. You can go to a silver or a gold broker, pawn shop or jewelry store to sell of your items. Most often they have appraisers on site to make silver valuations. In fact there are some recycling facilities too that are ready to pay cash for silver. But if you are looking for a good price for sale, then follow these tips given below:
1. Shop Around Before You Make Your Decision
It is advisable to shop around and get estimates before selling silver. Check your states’ BBB (Better Business Bureau) to search for background of the companies you have selected. Furthermore, to find reputable dealers, you can also visit the US Mint website.
2. Find Out the Market Value of Silver and Compare Rates of Different Silver Dealers
This is an important tip because the price of silver is not consistent. It is continuously changing. So, you must first find out the market value of silver and then compare the shop rates of silver dealers. Dealers will also base their fees on the going rate paired with their commission charges. So, it is advisable to take your time before you sell to get the best selling price on the market.
3. Acquire a Strong Understanding of What You Have
To negotiate better it is important to have a good understanding of what you are selling. Silver is basically valued in weight, with different types of jewelry and collectibles bearing different amounts of silver. So, you must have a good understanding of how much your silver weighs and markings so that you can bargain confidently.
4. If you Hold Broken Silver, You Can Sell it Too
If you have broken silver necklace or a coin roughed up, don’t you worry you can sell it too. Silver items are bought by buyers primarily on the weight of the silver. So, condition of your silver item is secondary, what matters here is the weight of the silver. So, get your item weighed and sell it for extra money.
Also, make sure you remove gem stones from the broken silver jewelry typically because the buyer may not pay you extra for the stones so if you keep them attached, you may be settling for less. So, a good idea is to get your broken silver weighed and sell it out while keeping the gemstones, if there are any with yourself. You may be able to sell them later.
5. When Selling Silver, Do Not Sell Collectibles as Scrap
If you have vintage silver jewelry, rare silver coins or silverware with unique patterns then you should know that these are worth more than just the value of their silver weight. Here you can seek advice from a reputable antique appraiser who can estimate the actual value of the value of your silver collectible.
Follow these awesome tips to ensure you get a good value when selling silver!