If you’re looking to sell silver jewellery or silver coins, you can get the best price if you do your homework. For starters, it’s advisable to deal with a dealer who displays on their website current buy back spot prices against the world market spot price. Also, if you’re selling silver jewellery the dealer should be able to test the jewellery using XRF technology to give you a good price based on the purity of your silver. Once again any reputable dealer will display the carat buy back rates on their website.
To get the best deal when you sell silver, you want to deal with a dealer with many years of experience buying gold and silver bullion and also jewellery. An experienced dealer is more likely to offer competitive prices as they have a better understanding of the market and better relationships with refineries to on sell your silver or gold items. Also, experienced dealers offer you better service as they are in the game for the long run. If you’re in doubt about a particular dealer, you can check their reviews online. Satisfied customers will write about their favourite dealers on line, you can also get a good recommendation and advice simply by searching Google.
Once you find a reputable gold buyer, you can go to the store and have your silver items tested and valued. Some dealers will provide you with the option of mailing the precious metal to their shop, however we recommend to avoid doing so unless it is too far to travel.
The dealer will be testing your silver by determining its carat or quality. The value of your silver jewellery will be determined by its purity and mass. After assessing your silver jewellery, the dealer will offer a price and if you accept it, you can get cash or cheque.
If you are selling bullion and it is held in storage inside a vault, you simply need to call the company holding your silver and inform them that you wish to sell it to a dealer. After booking your appointment, the gold dealer can lock in the price so that you know the exact amount you will get. You will then make arrangements with your storage company to have your bullion delivered to the dealer. It’s a very convenient way to sell silver and you don’t even have to visit the dealer’s store to get your money because you will be paid once receipt of the bullion has been confirmed. Or you can transport it yourself straight to the dealers shop.
So whether you wish to sell silver in small or sizable quantities, you can get competitive prices if you know the best players in the industry. Their expertise will ensure that you get the best price. Gold buyers will purchase all quantities of silver jewellery or bullion, and the process is fast and simple. Some dealers offer to beat a better offer you may receive elsewhere and so it’s a good idea to shop around for the best offer you can get. Last but not least, always ask the dealer about their buyback policy if you want to invest in silver at a later date.