: These shops specialize in bullion and "junk silver" (circulated silver coins). They often have specialized testing equipment, such as X-Ray (XRF) Spectrometers , to accurately value scrap on the spot.
: Many local jewelers buy sterling scrap to melt down for their own custom creations. Additionally, independent artists on platforms like Facebook often look for scrap silver for sculpting or casting projects. who buys scrap silver
: These are the highest-paying buyers because they are the "end of the line." They melt and purify the metal themselves. While they offer the highest percentage of the spot price, they often require larger minimum quantities (e.g., 500g to several kilograms). : These shops specialize in bullion and "junk
Before selling, identify the purity of your silver by looking for "hallmarks" or stamps, usually found near clasps or on the back of items: Sell to Kitco: Precious Metal Scrap Before selling, identify the purity of your silver
: This is the fastest way to get cash, as they are widely available and pay immediately. However, they generally offer the lowest payouts because they have high overhead costs and must build in significant profit margins for resale. 2. Identifying What You Have
: Large national dealers like Kitco and APMEX buy scrap through mail-in services. They typically offer competitive, transparent rates based on live market data and provide prepaid shipping kits for convenience.
Scrap silver—ranging from tarnished jewelry and sterling flatware to industrial offcuts—is bought by several types of buyers, each offering different trade-offs between payout, speed, and convenience. As of , the spot price for silver is approximately $76.51 per ounce . 1. Primary Types of Scrap Silver Buyers