You can make good and extra cash through selling silver always! If you happen to own some silver pieces or you are looking for investing in buying and selling silver, this article is good for you.
In this article, we will walk you through what is the best way to cash in silver. We will list the know-hows, some important information, and tips to help you lead the way.
What is the Best Way to Cash in Silver: Guide on How to Sell Silver
1. Make sure you know the actual price of your silver pieces
2. Find out if the silver on your items is plated or sterling
3. Retain your silver unbuffed
4. Look up the possible value of your silver on the internet
5. Get an appraisal for your silver through a professional
6. Check prices with a few different prospective customers
7. If you have special pieces, consider selling your silver to a pawn shop
8. If you have any silver coins, go to a coin show
9. Check out the high bids on eBay
10. If you have a lot of scrap silver, sell it to a refiner
1. Make sure you know the actual price of your silver pieces
The first step you need to follow on what is the best way to cash in silver is: knowing the type of silver you own so you can decide how to sell it and where.
For example, silver falls into different categories like: junk silver, sterling, scrap, bars, and rare coins.
Start by examining what you own and divide them into groups from same category.
2. Find out if the silver on your items is plated or sterling
You need to know if your silver items are plated or considered to be sterling ones. Sterling items tend to have higher quality then plated silver as their value are always higher so they will give you extra cash.
When you examine the pieces you have, look for words like: "sterling," "ster," or ".925" which indicate sterling silver. If you see terms like "silver plate " "plated," "EP," or "EPNS," then it's plated silver.
It is worth knowing that sterling silver typically contains 92.5% silver.
3. Retain your silver unbuffed
Never clean or polish your silver pieces and items before you sell them, this will diminish their value! You need to keep your items as is to sustain their value.
4. Look up the possible value of your silver on the internet
Always make sure to have an idea about the value of your silver pieces before you sell them. You can always consider the help of the internet!
There are plenty of online evaluation platforms that can help you for free. You can upload images, fill in details, and wait for the platforms to give you an estimated price.
5. Get an appraisal for your silver through a professional
Another way to help you value and sell your silver items and pieces is by visiting a silver professional store.
People who have good experience in silver can help you determine the value and estimated price of the pieces you own.
What is the Best Way to Cash in Silver: Continue Guide on How to Sell Silver
6. Check prices with a few different prospective customers
We recommend you check different online sources and different actual professional shops to make sure you have more than one opinion on the value and estimated price of the silver items you own.
7. If you have special pieces, consider selling your silver to a pawn shop
If you happen to have very special and unique silver pieces, visiting a pawn shop can be a great choice as these pieces have great value.
Pawn shops are great if your silver pieces are: watches and fine jewelry.
8. If you have any silver coins, go to a coin show
And if you happen to own many silver coins, we recommend you visit a coin show!
You can check online if you there are any coin shows happening near your city. Coin shows are basically exhibitions where people can potentially show and sell their silver coins.
9. Check out the high bids on eBay
Another item on the list of what is the best way to cash in silver is: check out the high bids on eBay.
Selling anything online is always a great idea as you will find many people who are interested in the items you own and you can get your hands on the best prices always!
eBay, the famous online shop is a great option for you. Check the website and look for online auctions, you will find many opportunities.
10. If you have a lot of scrap silver, sell it to a refiner
Last but not least, if you happen to own a lot of scrap silver, we recommend you sell it to a refiner!
This way, you can value your items based on their weigh and if you own lots of silver items, you can melt them and sell them to a refiner.
Selling silver can be a great source of extra cash. In this article, we have walked you through what is the best way to cash in silver.
Enjoy selling your silver and making extra money!
