If you’ve inherited or amassed a collection of old silver, you may be surprised to learn that it is potentially worth quite a bit of money. Whether you’re newly considering selling or it’s been on your to-do list for some time, selling your old silver is an easy way to give your bank account a boost. However, before you dive into selling your precious metals, there are a handful of tips you’ll want to consider to make sure you receive the best possible price for your valuables.
Take Your Time
One of the most enticing aspects of selling your old silver is a quick and easy payout, but that doesn’t mean you should be hasty. Make sure that selling is truly the best decision for you and that it won’t be one you’ll live to regret. Consider if the money you’ll receive is worth parting with the item, especially if it’s one you’ve inherited from a family member or close friend. Avoid making impulsive decisions when it comes to selling anything of value. If, after much consideration, you’re certain that selling your old silver is the best course of action, then it’s time to take the next step.
Understand the Value of Your Pieces
Before seeking out a buyer for your old silver, it’s important that you understand what you have. Do your own research about silver and how its value is assessed. Learn what goes into the valuation of silver pieces so you have a good sense of the money you should expect to earn for its sale. In sharp contrast to gold, silver is hardly ever pure and is typically an alloy. The purity of silver is not measured in carats like gold, but instead it is measured using the millesimal system. Most of the time silver pieces, like silver jewelry, will have its millesimal value stamped on the pieces in one form or another. Take time to figure out the millesimal value of your pieces before you make efforts to sell them.
Keep Your Eye On the Market
Just like the prices of gold fluctuate, so do the prices of silver. Keep your eye on the market to determine the best time to secure a good price. You’ll observe that there are peaks and troughs over time, and if possible, you’ll want to time your sale to avoid them. Sell when the value is high and you’ll earn the best payout possible from your buyer.
Sell to Local Buyer
There are many online businesses that will happily buy your silver pieces, however, the best way to ensure a great payout is by selling to a reputable local silver buyer. Working with a buyer you can visit in person will help you establish trust and build a relationship, and brick-and-mortar locations are more likely to pay better prices than online buyers. Read reviews and customer testimonials to find a buyer that delivers an excellent experience steeped in professionalism, efficiency, and quality. Word of mouth is often the best way to find a great buyer, so speak with your friends and family in your area to see if they have a buyer they would recommend.
Compare Prices
Keep in mind that you do not have to sell to the first buyer you consult. Take your time and speak with multiple buyers. Chances are there are a number of buyers in your area that are all eager to buy your old silver pieces. Different buyers may have different methods for calculating the value of your items and they may pay out different rates. Compare the prices being offered to you by each buyer; it’s well worth your time to find the highest possible price.
Gold Rush Is Your Trusted Source for Selling Your Old Silver
Once you’ve carefully considered all of these tips for selling your old, unwanted silver, Gold Rush Lakewood is ready to help you through the process. Our team of experts will guide you through each step to ensure that you feel comfortable along the way. Gold Rush prides itself on creating a safe, discreet atmosphere and delivering genuine expertise and professionalism at every turn. Reach out to Gold Rush when you’re ready to sell your old silver.
