Silver has been valued as a precious metal throughout history. Used in many pre-modern monetary systems as currency, it also sports value in jewelry, industrial and commercial applications and medical science, and has always been a staple of investment endeavors. The value of silver fluctuates in relation to economic conditions and market variables, but it has always persevered through good times and bad alike.
There are many types of silver that you may have in your possession, or may wish to acquire. We have listed some of the most common below:
Silver bars are usually of .999 fine silver purity and come from various mints and in a multitude of weights – 1oz, 5oz, 10oz and so on. These are a great way to stockpile silver without having to know much about coins, scarcity or desirability.
Bullion coins are issued by government mints in proof condition with very high purity such as .999 fine silver. These typically command a premium relative to the spot price of silver for their collectability.
This term often refers to US coins issued before 1965 that contain 90% silver, including dimes, quarters, half-dollars, and dollars. Expect melt value or just below melt value for this type of silver.
Silver jewelry that is either broken, otherwise incomplete or unusable can be considered scrap, and as such typically goes for melt value.
Sterling silver is an silver alloy containing 92.5% silver with 7.5% of other metal such as copper. Often used in cutlery, certain types of dishware and jewelry it will be identified by a “925” mark somewhere on the piece. Short of antique or rare items, sterling is generally transacted at melt value.
Some silver coins are judged outside of the standard measures of weight and purity. A coin may have $10 of value in its silver content, but be worth $1000 for its numismatic rarity. Having such coins appraised by a professional will ensure that you don’t accidentally sell it for a lot less than it is worth.
While anyone who buys coins or silver in any form, other than a collector, is looking to re-sell it, we offer some of the best, fairest prices around. We love silver at Metro Pawn & Gun – we love to buy it, we love to sell it and we love to own it. Stop in and see what we have to offer, or bring in what you have to make a deal!
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