How and Where to Sell Silver
On an earlier blog we talked about the price of gold and how people can sell their unwanted gold to Stewart Kuper Jewelers. This time, we are looking at that ‘second place’ metal – though it’s not second fiddle to us! That’s right we are going to talk about silver, and answer questions about how and where to sell silver.
When it comes to selling silver, or any precious metal for that matter, there are a few concerns you are likely on the lookout for, but the most pressing is getting a fair price. Before we go any further, let’s address just that – at Stewart Kuper Jewelers we don’t play games when it comes to buying gold and silver. These are valuable, desirable materials and low balling offers just lose customers. That’s why we work with our customers to offer fair and honest pricing on every piece, whether it’s a silver coin, gold jewelry or diamonds.
Now, back to the subject at hand.
What Kind of Silver Are You Selling
This is crucial to know (and it will be obvious to both you and the potential buyer) because not every business is interested in the same sorts of silver! Some gold and silver dealers won’t be interested in buying anything but bullion (specifically made bars, ingots, or coins). There’s also the matter of how easy it is to resell the silver. For instance, silver jewelry might take longer to sell because you need to find someone interested in that specific piece unless the buyer is planning to smelt it and reuse the metal. Coins can more easily move because they are legal tender, so there tends to be a more active market for them.
So first things first, take an inventory of what you are selling.
Where Can You Sell Silver?
You can sell your silver a number of places, each with its own benefits and hiccups. The most common places people think to sell: the internet, pawn shops, or local jewelers.
Selling Silver on the Internet
Online buyers and sellers are all over the place. The benefit is that you’re going to be able to find someone interested in buying fast, and due to potentially lower overhead they might even be able to give you a decent price. However, there’s a lot of junk out there! You’re just as likely to come across a scam site looking to take advantage of an uninformed customer as you are a legitimate buyer. When it comes to doing business virtually the seller has to do a lot of footwork to make sure everything is right and secure.
Probably the first thing that comes to mind when people think about selling jewelry, gold, or silver is the pawn shop. If you live in a decent sized city you likely have a number of these around. When it comes to selling gold or silver there the benefit is that there are a lot of potential stores, and there’s probably some haggling potential – if you’re into that sort of thing. On the flip side, there’s haggling potential because a pawn shop is going to do their best to get your silver from you at the absolute lowest cost to themselves. There’s also the possibility that they might not even recognize the value in the silver you own.
Pawn shops might seem like the best option if you’re in a hurry but even then don’t head down that road until you’ve considered this next option.
Your local jewelers are, in our expert opinion, the best option available when it comes to selling silver. Unlike online buyers, you’ll be able to meet face to face with the prospective buyer, more easily verifying that they are a legitimate business and have the ability to buy your silver. Where they diverge from the local pawn shop however, is that they have the expertise to value your silver correctly and are reputable experts. They will also be more likely to take in jewelry, not just bullion, bars, or coins!
With all that laid out, the path is clear – when you are looking to sell your silver jewelry and coins, look to your local jeweler, Stewart Kuper Jewelers! We work with our customers to offer fair and honest pricing on every piece, whether it’s a silver coin or estate jewelry.