We pay cash for sterling silver! We will buy your unwanted gold and silver! - These are clever slogans to draw in people who need extra cash. You've seen the commercials, read the pawnshop ads in the local nifty classifieds, and possibly have even parted with your silver coins, jewelry, or whatever. But did you know, that most of these places that buy silver are giving you cash at way below what your silver is worth!?
It's not a scam, as some would have you think. It's business: buy low, sell high. People get sucked in because they don't know where else to go to maximize their money. But with a little digging and an internet connection, you are here now, and I am going to tell you how to sell your sterling silver at probably the highest amount of money you can.
First, here's who to avoid: the tv ads "Cash 4 Gold" or any offering you large sums of money for your precious metals. Second, pawn shops. Pawn shops are known to be one of the worst places to sell anything because they prey upon desperate people, and usually lower income people, who are more desperate to get cash even at a lower amount. And most pawn shops will try to convince you that your silver, especially sterling, is worthless or next to worthless.
There are two ways: auctions and online auctions. I have found that offline auctions are usually, but not always a good place to sell sterling silver. Sometimes, however, an item will go below what you expected. Its the risk of the auction when there is no set price. Here are tips for a better experience. Get your items in early to the auctioneer, that way they can promote and advertise your product in their inserts. Learn their fees, and discover their popularity. See if they have a website, and a professional appearance. See that they do advertise: the more advertising the do, the more people will turn out and the higher your commission on an item sold will be.
The next option is online auctions. More specifically eBay. eBay is an online marketplace, marketed worldwide where you can sell sterling silver, along with anything else you can think of. The great thing about eBay, is the marketplace reflects the real market value people are willing to spend on an item, and 925 sterling silver is usually reflected in at least its melt value, and often includes intrinsic value for coins and other items.
Tips when selling on ebay include: The more pictures the better! Be as honest and as thorough in your description. Layout terms such as shipping and return policies. Be courteous and reply to bidders questions.
Selling in on and offline auctions will provide a rewarding experience and a greater cash price for your sterling silver. Below are current listings right now on eBay:
US $42.51
