These are the questions people ask most before they sell silver, answered from published standards and official rules. If yours is not here, call or use the contact page.
Where Can I Sell Silver is an independent referral service, not a buyer, pawnshop or dealer. When you call or send the form, your details go to an independent buyer in New York who makes any offer.
Why there are no prices on this site
Many questions people ask are price lookups: what an ounce or a kilogram of silver is worth today. The spot price of silver changes daily, so any figure printed here would soon be wrong. Instead, work it out: weight in troy ounces x fineness x the day’s spot price is the melt value. The silver melt value guide shows how. Nor does this site forecast where the price is going: no one can do that reliably.
Have a question about your own silver? Call, and we connect you with an independent New York buyer who can answer it.
Questions people ask
Is Where Can I Sell Silver a buyer?
No. It is an independent referral service, not a buyer, pawnshop or dealer. When you call or send the form, your details go to an independent buyer in New York who makes any offer. The site does not buy, test, weigh or grade silver.
Does it cost anything to ask?
No. Asking is free, and you never have to sell.
Can I ask from outside New York?
Yes. The line is answered from New York and you can call from any state. The buyer we connect you with explains what is possible from where you are.
Where can I sell silver?
It depends on what it is. For bullion, ask bullion dealers and coin shops; for sterling tableware and jewelry, precious metal buyers, and estate dealers for complete sets; for large scrap lots, refiners; for collectible coins, coin dealers. See silver buyers.
What does 925 mean?
At least 925 parts per 1,000 silver: sterling. Under the FTC’s jewelry guides it makes the same claim as the word Sterling.
What does Coin mean on silver?
At least 900 parts per 1,000 silver, 90%, under the FTC’s jewelry guides.
Is silver plate the same as sterling?
No. Plate is a thin layer of silver over another metal, and federal law says plated pieces must not be stamped sterling or coin. As metal, plate holds very little silver.
Is silver plated worth anything?
As metal, very little. Some plated pieces sell as antiques or decoration. See is silver plated worth anything.
How is silver weighed?
In troy ounces of 31.10348 grams, heavier than a kitchen ounce of 28.34952 grams. Some buyers quote in grams or pennyweights (1.555174 grams).
How do I work out what my silver is worth?
Weight in troy ounces x fineness (0.925 for sterling, 0.900 for coin silver, 0.999 for fine silver) x the day’s spot price gives the melt value.
Why is an offer lower than melt value?
Melt value is the value of the pure metal only. A buyer’s offer is usually below it because the buyer pays to refine the metal and needs a margin.
How much will I get if I sell my silver?
No one can say without the weight, the fineness and the day’s spot price, and a buyer seeing the silver. Work out your melt value, expect an offer below it, and compare written offers.
Is it a good time to sell my silver?
This site does not forecast prices. Whenever you sell, know your melt value on the day and compare offers.
Is silver difficult to sell?
Marked silver is not. Bullion is the easiest; sterling is straightforward once steel and fillers are allowed for; unmarked pieces need testing.
Should I clean my silver before selling it?
No. Silver is priced on its weight and fineness, and every polish takes away a little silver. Coins and antique pieces are best left exactly as they are.
Can I sell tarnished silver?
Yes. Tarnish is a thin surface layer, mainly silver sulphide. Silver is priced on weight and fineness, so do not polish hard before selling.
Are old US silver coins worth more than their face value?
Dimes, quarters and half dollars made before the 1965 change were 90% silver, and half dollars made under the 1965 Act were 40% silver, so their silver content is worth working out. Some are worth more to collectors. See silver melt value.
How much silver can I sell without reporting it?
Some larger sales of certain bullion coins and bars may be reported by the dealer to the IRS on Form 1099-B; most small sales of jewelry, sterling and single coins are not. Ask a tax professional about your sale.
Do I pay taxes if I sell silver?
A profit on coins and other collectibles may be taxed as a capital gain, at a maximum federal rate of 28% for collectibles (IRS Topic 409). Ask a tax professional.
What do I need to sell silver in New York City?
Official ID with your signature, which the buyer records; you sign in front of the buyer. Buyers cannot buy from minors.
How do I know a New York City buyer is licensed?
A DCWP Secondhand Dealer license should be posted where you can see it, and its number should be on the receipt.
Will the buyer tell me the weight?
In New York City, yes: a buyer of precious metal must weigh it on an approved scale reading to 0.01 troy ounce or finer and tell you the troy weight.
Is selling silver the same as pawning it?
No. Pawning is a loan against your silver, which you repay to get it back. In New York City it needs a separate DCWP Pawnbroker license. Selling means the silver is gone and the payment is yours.
What happens after I send the form?
Your details go to an independent buyer in New York, who replies by phone or email. A buyer may ask for photos. Sending the form commits you to nothing.
Describe your silver