where can i sell silver
You can sell silver both online and locally , and the best spot depends on whether you care more about speed, safety, or getting the highest price.
Main places to sell silver
1. Online precious‑metal dealers
These are dedicated bullion and coin buyers that run professional operations.
- Well‑known names include APMEX, JM Bullion, SD Bullion, Money Metals Exchange, BGASC, and Hero Bullion.
- They typically buy bars, coins, rounds, and sometimes jewelry and scrap, and give quotes based on the live silver spot price plus/minus a margin.
- Pros: Easy to do from home, insured shipping labels, clear process, and usually competitive, transparent pricing.
- Cons: You wait for shipping, inspection, and payment, so it is not instant cash.
A common flow: request a quote on their site, get a shipping label, send your silver, they test it and then pay you via bank transfer or check if you accept their offer.
2. Local coin shops and bullion dealers
If you want to walk in and walk out with cash, this is often the first stop.
- “Local coin shop (LCS)” and other gold/silver shops buy bullion, coins, and often scrap or jewelry.
- Forum users often recommend LCS or a gold & silver shop as a first choice over pawn shops, though they still note that these businesses buy low and sell high.
- Pros: Face‑to‑face, immediate payment, they can explain pricing and purity on the spot.
- Cons: Their offers may be lower than what you could get selling directly to collectors online, because they must leave room for resale profit.
If you are near a major city, there are often specialized buyers (for example, bullion shops in “jewelry districts”) that advertise competitive rates, testing in front of you, and same‑day payment.
3. Jewelry stores and antique shops
Good if your silver has design or historical value.
- Many jewelry stores buy silver jewelry, coins, or bullion and will appraise and purchase on‑site.
- Antique shops may pay a premium for vintage flatware, tea sets, or collectible pieces with historical or design interest.
- Pros: Possible extra value beyond melt price if the piece is desirable as an object, not just scrap.
- Cons: Not all shops buy silver, and some will still pay mostly for metal content.
4. Pawn shops
These are the “fast cash” option.
- Pawn shops commonly buy silver but usually pay less than coin shops or dedicated dealers, since they take on more risk and operate on higher margins.
- Forum users consistently warn that pawn shops tend to “lowball” compared to other options.
- Pros: Very quick, easy, and widely available.
- Cons: Often the lowest payout.
5. Online marketplaces and social platforms
If you’re willing to put in effort, you can sometimes get more than dealer buy‑back prices.
- Platforms include eBay, Craigslist, Facebook Marketplace, and other resale apps like Mercari, Poshmark, Nextdoor.
- There are also social media groups and forums specifically for buying and selling silver, including moderated precious‑metal groups and subforums like silver‑focused communities.
- Pros: Potential to sell at or near retail prices instead of dealer “buy” prices, especially for popular coins and branded bullion.
- Cons: You handle pricing, photos, negotiation, shipping, and fraud risk yourself; you need to vet buyers and meet in safe public locations for local deals.
A typical example: a seller lists a few silver Eagles or bars on a forum or marketplace at a small premium over spot, gets paid with a safe method, then ships tracked and insured.
Quick overview table
| Option | Best for | Main pros | Main cons |
|---|---|---|---|
| Online bullion dealers | Bars, coins, rounds, larger amounts | [7][1]From‑home process, insured shipping, competitive pricing | [7][1][2]Shipping time and inspection delay before payment | [1][2]
| Local coin/bullion shops | Fast in‑person sale of coins and bullion | [2][3][1]Immediate cash, evaluation while you watch | [4][1]Dealer margin reduces what you receive | [5][3]
| Jewelry & antique stores | Jewelry, flatware, collectible or designer pieces | [9][2]Possible premium for craftsmanship or brand | [9][2]Not all items accepted; some still priced as scrap | [9][2]
| Pawn shops | Emergency, same‑day cash | [3][2]Very fast and accessible | [2]Often lowest offers compared to other buyers | [3][2]
| Online marketplaces/forums | Maximizing price, selling to collectors | [5][1][3]Can sell at or near retail prices | [1][3]More work, higher fraud and safety risks | [1][2]
How to decide what’s best for you
Think about three things: how fast you need money, how much effort you’ll put in, and how comfortable you are with risk.
- If you want maximum convenience from home : go with a reputable online silver/bullion buyer that offers insured shipping and clear rates tied to the spot price.
- If you want cash today : try a well‑reviewed local coin shop or precious metals buyer, and get multiple offers; use pawn shops only if you accept a lower price for extra speed.
- If you want top dollar and can wait : list on trusted marketplaces or forums and sell directly to other collectors, using safe payment methods and insured shipping.
- If your silver is vintage or designer : show it to an antique or jewelry buyer who understands collectible value, not just melt weight.
Practical tips before you sell
- Check the current silver spot price so you know roughly what your metal is worth per ounce.
- Sort items by type (bullion vs. jewelry vs. scrap) and note any hallmarks like “999” or “925” for purity.
- Get more than one quote if possible, especially for larger amounts, to avoid underpricing your silver.
- Read reviews and ratings (Google, Yelp, Better Business Bureau) for any buyer you use, especially online ones.
If you tell me what kind of silver you have (coins, bars, jewelry, flatware, scrap) and whether you prefer online or in‑person, I can narrow this down to 2–3 best choices for your situation.
Information gathered from public forums or data available on the internet and portrayed here.