Sterling silver's value is based upon the commodities market. Think of this market like the stock market, except traders are trading notes on precious metals like silver, gold, and platinum. This determines the value of silver, but that is talking about pure silver.
Sterling silver is not pure. It is 92.5% pure silver, so when you look up the value of silver you need to take in consideration this slight difference in sterling.
To calculate the value of sterling silver use this formula
Silver Value x .925 x Weight In Ounces
For example, today silver's value is at $17.95 per ounce. If you want to know the value of 1 ounce of sterling silver plugin the numbers to the formula:
17.95 x .925 x 1 =16.60
So, $16.60 would be the value of sterling silver for that day.
For an easier way to figure out the value of sterling silver, you can use a silver per ounce calculator. This Silver Value Calculator makes it effortless to find the value of any weight of silver in either grams or ounces. This site also displays the current value of silver according to the markets so you can get an accurate portrayal of the value of your sterling silver.
So there you have it. Using a silver value calculator or using math you can figure out the value of your sterling scrap and maximize the return you receive on selling your scrap, or get a better deal when purchasing your .925 silver.
US $65.00
