Selling Silver For Cash

Silver is one of the noble metals recovered from the earth, giving it inherent value. The price of silver fluctuates with and follows the price of gold, with gold averaging more than fifty times the price of silver. A few reasons account for this price gap, the major factor being that it takes a larger mass of silver to equal a given mass of gold. If the mass of each metal were equal, the price of silver would be similar to gold. At one time, silver was much easier to find than gold, but its extreme versatility has actually created such a demand that it has made it harder to find and mine than gold, and silver recycling companies are here to save our resources.

Recycling Silver Jewelry

Used silver can be sold to a silver recycler capable of melting it down and refining it so it can be used again, but not all silver is worth the effort. Sources of silver to recycle are all around you. Perhaps you have a silver necklace that is broken and cannot be repaired, or a ring that was a gift from a long ago boyfriend is just sitting in the jewelry box, long forgotten. Silver has been a popular metal in jewelry making for thousands of years. In the last century, some of the designs have not been particularly beautiful. In this age of mass manufacturing, bad designs could be reproduced en masse, and now these are worth only the price of scrap.

At one time, silver coins could be found in pocket change. It is not that easy to find real silver coins these days, but it doesn’t hurt to check your quarters and dimes anyway. The general public has the mistaken belief that all old coins are worth more than they really are, and to melt an old coin down for scrap is taboo. Silver dollar recycling is quite acceptable if the coin has enough wear or is from a year when the mint was particularly prolific. Look at the edge of an American coin and if there is not a copper colored band around it, there is a good chance it is silver. Also, save all quarters you find that were minted before 1965 because they are silver.

In some industrial applications, silver simply is the only choice. Silver is the world’s best conductor of electricity, so it is employed in computers and wiring of every sort. It is invaluable in switches because it does not spark. Silver is used in some types of batteries. The tiny bit of silver used in electronics is generally not recoverable due to the minute amounts used. Silver is used in some homeopathic medicines, and this silver is also unrecoverable.

Another major source of reclaimed silver comes from industries that use photographic film. More than half of all available silver is used for photographic imaging. The property in silver that causes it to tarnish is what makes it perfect for use on film. When film is developed, the liquid used in the process is laden with silver molecules that are easily reclaimed and reused. Some industries using film include photography, printing, and medical sectors using x-rays.

Many people have begun treasure hunting at garage sales and flea markets to help alleviate the stress placed on their budgets in this downtrodden economy. It is not uncommon to find silver pieces at these types of sales. Familiarize yourself with the different marks by which a silver piece is identified. Sterling silver is generally marked with a ‘.925’ or the word ‘Sterling’. Sometimes silver jewelry from Mexico is stamped ‘Mexico’ or ‘Plata.’ Old European silver could be marked .835, and 800 is coin silver. Some shoppers even bring along a bit of silver polish and a loupe to help uncover hidden marks. Once you begin finding more silver, you may want to purchase an acid test kit to determine the value of the silver. If the piece means nothing to you, you could file a small area; and if another color shows up underneath, the piece is worthless.

It is important to determine the true value of the piece before sending it off to someone who knows how to recycle silver. If it is an antique sterling piece, the resale value could be hundreds of times higher than the scrap value. If you have silver that was handed down by family or a necklace that was a gift on a special birthday, the value is not monetary, but rather sentimental. These pieces of silver should not be sent to silver recyclers.

Worn out silver coins, like those mentioned above, and ugly, out of style or broken jewelry are best sent in to become recycled silver. If it has a sterling mark on it, send it in to be melted down. If it is a silver plate or if it is a silver knife that is weighted, most refiners will not accept it. Some will not take coin silver, either. ‘Nickel silver’ actually has no silver in it at all, but is a blend of nickel, copper, and zinc.

Recycling your old, broken or out of style silver can bring in some extra cash for you or it can be donated to a charity or organization near and dear to you. Organizations in need of funding could set up a silver drive, much like the can and paper drives of days gone by. Today, in a time when people are simplifying their lives and de-cluttering their homes, marks the best time to sell your scrap when prices are at an all time high.

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