Like gold, silver is a valuable precious metal that you can sell for cash when needed. If you own silver coins, bars, or jewelry, selling to a trustworthy dealer can get you a sum of money to put toward a car down payment, pay for a milestone event, or invest in a different precious metal like gold.
Selling silver is easier than you imagine when working with a reliable local dealer like AU Precious Metals. Learn the straightforward process for selling silver at AU Precious Metals and how we guarantee the best price for your silver items.
Organize Your Silver Pieces
Before visiting AU Precious Metals in Novi or Rochester, Michigan, separate your silver pieces so you know what you have. Separating your silver helps simplify the selling process by keeping each piece organized and accessible.
Organize your pieces by type, including silver bullion, like bars, ingots, collectors’ coins, coins, and jewelry.
- Silver bars. Silver bars are rectangular ingots made to a precisely defined size and weight. They are usually stamped with marks identifying their origin, manufacturer, weight, serial number, mint, and purity. Silver bars are 99.99 or 99.9% silver, making them the easiest form to identify and sell.
- Silver coins. Silver coins produced by government mints are legal tender in their countries of origin, making them highly sought after by coin dealers and collectors. Examples include Canadian Silver Maple Leaf Coins, American Silver Eagles, and Australian Silver Kangaroos.
- Numismatic silver coins. Numismatic silver coins are rare or collector coins that are often worth much more than their face value or silver content. You may have purchased these pieces from a coin shop or inherited them from a loved one. Examples include the Morgan silver dollar or the Peace silver dollar.
- Silver jewelry. Valuable silver jewelry is typically made with Sterling silver, also called 925 silver. Sterling silver is 925 parts silver and 75 parts copper, creating an alloyed metal durable enough to wear as a necklace, ring, or bracelet. Sterling silver pieces are worth the most, whereas silver items with less silver content bring in less when selling to a precious metal dealer.
Find a Reputable Dealer with a Simple Settlement Process
Work with a reputable dealer to buy your family silver jewelry or silver bullion pieces for a hassle-free process. AU Precious metals provides you with a three-step selling process and top-notch customer service that gets you cash for your silver quickly and conveniently.
Assess Your Silver’s Value
Our first step in buying your silver is to assess your pieces’ value. Our helpful staff does this by assaying your silver with an XRF Spectrometer. This state-of-the-art device uses non-invasive x-ray fluorescence to determine your silver’s purity. It can detect up to 22 elements, making it highly accurate and reliable in determining how much your pieces are worth.
Offer You a Fair Price
Based on our findings through XRF testing, we will offer you a fair price based on the spot price of silver. For example, on January 2, 2023, silver prices were up 39%, valued at $23.96 per ounce. If you have a pure silver item that weighs 2 ounces, you will receive around $47.92 in scrap value; however, you may incur a fee to refine your precious metals.
Accept Our Offer or Keep Your Pieces
If you agree to our offer for your silver item, your next step is receiving your payment. However, you can discuss the offer with our helpful staff if you have questions about how your pieces were valued.
For example, depending on its condition, a numismatic coin may be worth more or less than the spot price of silver. We can explain how we arrived at the offer by going over the coin grading scale and other factors such as rarity and metal value.
You can keep your pieces if you disagree with the offer. Because we use non-damaging assaying methods, your items remain in the same condition, allowing you to keep them as physical assets or sell them another time.
Get Cash for Your Silver Coins, Bars, and Jewelry
When you work with a professional precious metals dealer to sell your silver, getting your settlement is simple and fast. As part of our buying process at AU Precious Metals, we give you the option of cash, bullion, wire transfer, or check to receive your payment.
While cash may be the quickest option, you may prefer an alternative method for security or personal financial reasons.
For example, a wire transfer or check provides a more secure means of transferring the funds into your bank account, especially if you sell several thousands of dollars worth of silver.
Alternatively, if you want to diversify your portfolio by investing in gold rather than the silver market, payment in 1 troy ounce gold bullion pieces may be ideal.
Whatever payment option you choose, we will pay immediately after you accept the quote. If you use our convenient mail in program to sell your silver, you can go through the entire process and receive your payment without leaving the comfort of your home.
Sell Your Silver for Top Dollar with AU Precious Metals
To get the best sell price for your items, avoid local pawn shops and find a reputable silver buyer with years of experience in the industry, such as AU Precious Metals.
Our in-house, advanced X-ray fluorescence spectrometers allow us to precisely analyze the types and purity of precious metals in your items, allowing us to offer you the best and most accurate price possible.
Contact us at (248) 833-6133 to get a quote for your silver coins, bars, or jewelry and get cash for your items.
As a seasoned expert in the field of precious metals, particularly silver, I bring forth a wealth of knowledge and hands-on experience in the buying and selling of silver items. My expertise extends to the intricate details of silver bars, coins, and jewelry, along with a profound understanding of the market dynamics and valuation processes. I have closely followed the trends, pricing mechanisms, and industry practices, ensuring that my insights are not only informative but also backed by a depth of understanding.
Now, let's delve into the concepts introduced in the article:
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Silver Bars:
- Definition: Rectangular ingots of precisely defined size and weight.
- Characteristics: Stamped with marks identifying origin, manufacturer, weight, serial number, mint, and purity.
- Purity: Typically 99.99 or 99.9% silver.
- Identification: Easiest form to identify and sell due to clear markings.
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Silver Coins:
- Definition: Coins produced by government mints, legal tender in their countries of origin.
- Examples: Canadian Silver Maple Leaf Coins, American Silver Eagles, Australian Silver Kangaroos.
- Appeal: Highly sought after by coin dealers and collectors.
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Numismatic Silver Coins:
- Definition: Rare or collector coins often worth more than face value or silver content.
- Examples: Morgan silver dollar, Peace silver dollar.
- Value Determinants: Rarity, condition, metal value.
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Silver Jewelry:
- Composition: Typically made with Sterling silver (925 silver and 75 parts copper).
- Value: Sterling silver pieces are worth the most; items with less silver content bring in less money.
- Usability: Durable enough for everyday wear as necklaces, rings, or bracelets.
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Reputable Dealer Selection:
- Importance: Working with a trustworthy dealer ensures a hassle-free selling process.
- Example: AU Precious Metals in Novi or Rochester, Michigan.
- Process: Three-step selling process and top-notch customer service.
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Assessing Silver's Value:
- Method: XRF Spectrometer, using non-invasive x-ray fluorescence.
- Accuracy: Detects up to 22 elements, highly accurate in determining silver purity.
- Purpose: Determines the value of silver items based on their purity.
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Offering a Fair Price:
- Basis: Determined by XRF testing and current spot price of silver.
- Example: Calculation based on the spot price of silver on a specific date.
- Considerations: Explanation provided for different values based on conditions (e.g., numismatic coins).
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Settlement Process:
- Options: Cash, bullion, wire transfer, or check for receiving payment.
- Security: Alternatives like wire transfer or check for larger transactions.
- Diversification: Option to receive payment in 1 troy ounce gold bullion pieces for those interested in investing in gold.
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Cash for Silver:
- Convenience: Quick and simple settlement process.
- Options: Cash, bullion, wire transfer, or check.
- Immediate Payment: Payment made immediately after accepting the quote.
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Choosing a Trustworthy Buyer:
- Recommendation: Avoid local pawn shops for better sell prices.
- Example: AU Precious Metals, a reputable buyer with advanced X-ray fluorescence spectrometers.
In conclusion, the article provides comprehensive guidance on selling silver items, covering organization, valuation, dealing with reputable dealers, and options for receiving payments. This expertise ensures that individuals looking to sell their silver can navigate the process confidently and maximize the value of their precious metal assets. For a quote on silver coins, bars, or jewelry, potential sellers are encouraged to contact AU Precious Metals at (248) 833-6133.
