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How can I get Cash for Silver?

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  • Written By: Desi C.
  • Edited By: Bronwyn Harris
  • Last Modified Date: 04 December 2016
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Though many people are familiar with the concept of getting cash for gold, silver is also a precious metal which can be sold for profit, though it is less valuable than gold. Getting cash for silver involves a similar process as that of selling gold. One of the more popular ways to get cash for silver is to walk in to a local pawn shop and have the silver evaluated. Many pawn shop owners resell silver to refineries, and this means easy access to cash for those with silver items.

Many companies that buy silver now advertise on TV and online. Most of these companies advertise for the purchase of gold, however they will also buy silver, diamonds, and certain items made of other materials. When doing business with a company that advertises online or on television, be sure to get a kit or at least an agreement in writing that outlines the responsibilities of the buyer and the seller. Most companies will cover shipping costs, and if the price offered for silver is unacceptable to the seller, the company should return the items free of charge.

Another way to get cash for silver is to contact a local dealer or auction house. Dealers will often be able to assist in the sell of silver coins, bullion, and flatware, and serving sets. Be aware of any fees that the dealer will charge, and of course check out the dealer's background before handing over precious silver items.

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Online auctions are yet another avenue for those who want the most cash for silver. Ebay is a popular choice for many sellers; however, the market is so vast that sellers should do some research first and find out who else is selling similar items, and how much they are selling them for. Keep in mind that shipping costs, insurance, and auction fees can decrease profits, so plan accordingly.

When selling flatware or coins a seller should have some simple background information about the items before accepting any offers of cash. To get the most cash for silver requires that a seller know what the face value or approximate value of the silver item is. By knowing this information, a higher price can often be negotiated.

Most silver is weighed in ounces, and it is best to have access to a scale to record the weight of the silver. To check that a piece of jewelry or flatware truly contains some amount of silver look for one of the following markings in very small print: Sterling; Sterling Silver; 800; 925; 925/1000; or 999. These are referred to as hallmarks and indicate the amount of silver present, which then helps determines the value of the silver item.

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panda2006
Post 6

It is a good idea to check several places in your area before trying to sell gold, silver, or other precious objects for cash. Many places with offer cash for gold and silver will be willing to appraise your item without you agreeing to sell it to them, meaning you can compare prices at a few different places before you sell.

anon45751
Post 1

I would strongly suggest checking out the Silver and Gold Exchange before selling gold or silver to *anyone*. I did a great deal of research, online and offline, and learned a lot about this business. I checked pawn shops, jewelers, "gold parties", hotel "buying events as well as the online buyers, including the "as seen on tv" guys. I found that the Silver and Gold Exchange paid more than anyone else I could find. I liked the fact that they post the prices they pay per gram (beware of the places that quote in pennyweight/DWT) on a live price chart.I also checked out their Better Business Bureau report and found they have never had a single complaint as opposed to *hundreds* of complaints some other companies have! I recommend them 100 percent.

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