If you are wondering about how to sell silver you are not alone. The Internet has helped countless people sell their precious metals. There are dozens of online bullion dealers, pawnshops, and even local buy and sell apps. But how do you know which one will give you the best return on investment? Read on to learn how to maximize your profits in the silver market. You can sell your silver bullion and bars online or through a local buy and sell app.
Putting your silver into categories
When selling your silver, you should first determine what categories your pieces fall into. Jewelry, flatware, scrap silver, and bullion coins are all different types of silver. By putting your silver into categories, you can better determine the amount of money. Sterling silver is worth more than plated silver, for instance. If you sell silver as scrap, you want to maximize the amount of money you make. However, this isn’t always possible. You should consider selling silver in groups to get the highest return possible.
Selling at pawn shops
If you’re thinking of selling your sterling silver jewelry, the first step to selling it at a pawn shop is determining its purity. While some silver jewelry may be stamped “.925,” this doesn’t always mean it’s sterling silver. Sterling silver is typically 92.5% silver and weighs at least 21.4 grams. Pawnshops are always interested in buying precious metals, including gold, silver, and watches.
It’s also possible to sell individual pieces, but most merchants will only purchase entire sets. Individual pieces can be sold separately, but selling silver as a set will get you to cash faster.
Selling to online bullion dealers
It is best to sell it to an online bullion dealer when selling silver. These online bullion dealers are usually much more reliable than individuals, but you should do your diligence before selling your precious metal. First, read the reviews of the online silver bullion dealers. This will help you to know what to expect from the transaction.
Selling through a local buy and sell apps
Online classified ads are popular to how to sell silver, but it is not always a safe option. Classified ads usually involve sketchy meet-ups and the risk of getting ripped off. In addition, online auction sites such as eBay have high transaction costs, and it can be difficult to verify the authenticity of the item you are selling. On the other hand, local buy and sell apps have several advantages. These applications provide a convenient and safe way to sell your silver, while classified ads do not.