Where to Sell Silver
Live silver spot price with guidance on selling silver coins, bars, and sterling silverware for the best price. Know your silver's melt value before you sell.
Silver Melt Value Calculator
Calculate scrap gold and silver jewelry values using live spot prices
Input
Troy ounce (oz t) = 31.1035g
Karat = gold purity (24K = 99.9%)
Melt Value
Total Melt Value
$57.24
1 Troy Ounce of 99.9% silver
Weight
1.0000
troy oz
Purity
.999
99.9%
Pure Metal
0.9990
troy oz
Spot Price
$57.29
per oz t
Silver Purity Values: Sterling to Fine1 oz t
| Fineness | Standard | Melt value |
|---|---|---|
| Fine Silver | $57.24 | |
| Sterling Silver | $53.00 | |
| Britannia Silver | $54.89 | |
| Mexican Silver | $54.43 | |
| 90% Coin Silver | $51.56 | |
| 40% Half Dollars | $22.92 | |
| 35% War Nickels | $20.05 |
What Buyers Typically Pay for Silver
Typical offers by kind of buyer. Your own quote depends on the product, its condition and the amount you're selling.
| Buyer | Typical payout | Best for |
|---|---|---|
| Online precious metals dealers | 90-97% of spot | .999 fine bars, rounds and government-minted coins in quantity |
| Local coin shops | 85-95% of spot | Junk silver, numismatic coins, small amounts, same-day payment |
| Refiners and scrap dealers | 70-85% of melt value | Sterling flatware, serving pieces and other scrap |
Partner offers. We may earn a commission.
Partner offers. We may earn a commission.
Know Your Silver's Melt Value
Before selling silver in any form, you need to understand the melt value of what you own. Silver comes in several standard purities, and the melt value calculation differs for each type.
For .999 fine bullion (coins, bars, and rounds), the melt value is simply the weight in troy ounces multiplied by the current spot price. A 10 oz silver bar at $60/oz spot has a melt value of $600.
For junk silver (pre-1965 US dimes, quarters, and half dollars with .900 silver content), use this formula: face value x 0.715 x spot price per ounce. So $10 face value of junk silver at $60 spot = $10 x 0.715 x $60 = $429.00 melt value. This multiplier accounts for the .900 purity and the actual silver weight per dollar of face value.
For sterling silver (.925 purity, commonly found in flatware, tea sets, and jewelry), the formula is: weight in grams x 0.925 x (spot price / 31.1035). A sterling silver fork weighing 50 grams at $60/oz spot would have a melt value of about $89.22.
Always use the live spot price shown above to calculate your melt value right before selling. Silver prices can move several percent in a single day, so real-time pricing matters.
Online Precious Metals Dealers
For bullion coins, bars, and rounds, selling to an established online precious metals dealer typically nets the highest payout. These dealers maintain transparent buyback programs with pricing tied directly to the live silver spot price. The process is straightforward: request a quote, lock in a price, ship your silver using the dealer's insured shipping kit, and receive payment after verification.
Best payouts for bullion: Expect 90-97% of spot price depending on product type and volume, with government-minted coins like American Silver Eagles commanding higher buyback prices
Free insured shipping kits: Major dealers provide prepaid, insured shipping labels or boxes so your silver is fully protected during transit at no cost
Fast payment turnaround: Most dealers process payment within 1-3 business days of receiving and verifying your shipment via bank wire or check
Volume bonuses: Selling larger quantities (100+ oz) often qualifies for better per-ounce buyback rates, so consolidating your holdings for a single sale can pay off
Price lock feature: Many dealers let you lock in the current spot price when you request the quote, protecting you from price drops during shipping
Best for: .999 fine bullion bars, rounds, and government-minted coins in quantity
Local Coin Shops
Local coin shops remain the go-to option for immediate, in-person silver sales. You bring your silver, the dealer examines and weighs it, makes an offer, and you walk out with cash or a check. No shipping, no waiting, no risk of items being lost in transit. For junk silver and coins with numismatic potential, a knowledgeable local dealer may be your best buyer.
Immediate cash payment: Walk in, negotiate, and leave with payment the same day without waiting for shipment processing
Strong for junk silver: Local dealers actively buy junk silver bags and rolls, often paying competitive rates because they can resell to their own customer base quickly
Numismatic expertise: A good local dealer can identify key dates, mint marks, and varieties that have collector value above melt, potentially increasing your payout
Typical payouts: Expect 85-95% of spot for generic bullion rounds and bars, with better rates for recognized government coins and sought-after junk silver denominations
Build relationships: Establishing yourself as a regular seller leads to better offers over time as the dealer trusts the quality and authenticity of what you bring in
Best for: Junk silver, numismatic coins, small quantities, and sellers who want same-day payment
Selling Sterling Silverware & Scrap
Sterling silver flatware, tea sets, trays, and jewelry represent a significant category that many people overlook. If you have inherited sterling silverware or own pieces you no longer use, selling to a refiner or scrap dealer can convert these items into cash. However, the payouts for sterling are lower than for bullion because of the refining costs involved.
Refiner payouts: Expect 70-85% of melt value for sterling silver flatware, with the discount covering refining, assaying, and processing costs
Remove non-silver components: Stainless steel knife blades, weighted bases filled with cement or plite, and plastic handles should be separated before weighing to avoid disputes about actual silver content
Check for antique or designer value: Sterling pieces by Tiffany, Georg Jensen, Gorham, or other prestigious makers may have collector value far exceeding melt, so get an appraisal before sending to a refiner
Hallmark identification: Look for 'Sterling', '.925', or 'SS' stamps to confirm the piece is genuine sterling silver rather than silver-plated base metal, which has virtually no melt value
Sell in bulk: Refiners prefer larger lots (several pounds or more) and typically offer better per-ounce rates for bigger shipments
Best for: Flatware sets, serving pieces, and inherited sterling items with no sentimental or collector value
Tips for Selling Silver
Silver's lower per-ounce price compared to gold means that transaction costs and spreads matter even more. A 5% difference in buyback rates on a $60 silver coin is only $3.00, but on 100 ounces that adds up to $300. Being prepared and strategic about your sale can make a meaningful difference in your total payout.
Know the current spot price: Check the live silver price on this page before contacting any buyer so you can immediately evaluate whether their offer is fair
Separate by type: Sort your silver into categories: .999 bullion, junk silver (by denomination), and sterling. Each category sells through different channels at different rates
Get multiple quotes: Contact at least 3 buyers (mix of online and local) and compare their offers against the current spot price to find the best deal
Understand premiums on coins: American Silver Eagles, Canadian Maple Leafs, and other government coins sell above spot and should command higher buyback prices than generic rounds
Keep original packaging: Mint tubes, monster boxes, and sealed rolls maintain the integrity of your silver and make it easier to sell at strong premiums
Sell in bulk for better rates: Dealers offer better per-ounce buyback prices for larger quantities because it reduces their per-unit processing costs
Factor in shipping costs: Silver is heavy. Shipping 100 oz of silver costs significantly more than shipping an equivalent dollar value of gold, so factor this into your net proceeds when comparing online vs. local options
Published by MetalCharts, a free precious metals resource providing real-time prices, dealer comparisons, and buying guides for gold, silver, platinum, palladium, and copper.
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Frequently Asked Questions
Where is the best place to sell silver?
For bullion coins and bars, online precious metals dealers offer the highest buyback prices, typically paying 90-97% of spot. For junk silver and coins with numismatic value, a knowledgeable local coin shop may offer the best combination of fair pricing and immediate payment. Always compare at least 3 quotes before selling.
How much is junk silver worth?
Junk silver (pre-1965 US coins with .900 silver content) is valued by its silver content. Use the formula: face value x 0.715 x current spot price per ounce. For example, $10 face value at $60/oz spot = $429.00 in melt value. Most dealers pay 90-95% of this calculated melt value for junk silver in average circulated condition.
How much is my sterling silverware worth?
Sterling silver (.925 purity) is valued by weight: weigh in grams, multiply by 0.925, then multiply by (spot price / 31.1035). A 50-gram sterling fork at $60/oz spot has a melt value of about $89.22. Refiners typically pay 70-85% of melt value. Antique or designer pieces by makers like Tiffany or Georg Jensen may have significant value above melt.
Do I have to pay taxes when I sell silver?
In the US, silver is classified as a collectible and profits are subject to capital gains tax at a maximum rate of 28% for items held over one year. Short-term gains (under one year) are taxed as ordinary income. Dealers are required to file IRS Form 1099-B for certain silver transactions, particularly sales of 1,000 oz or more. Consult a tax professional for your specific situation.