Sterling silver jewelry has two values assigned to it. The retail value of the piece and the value of the raw materials. You might find yourself with a broken chain or a ring you no longer wear. If this is the case, consider selling it as scrap metal. You can easily establish the value of your sterling silver on your own, without having to rely on the trustworthiness of a buyer.
Check the current value of silver in your local newspaper’s financial section. You can also go on the Internet and search for silver value to find the most up to date value of the commodity. Multiply the current price per ounce of silver by 0,925 to establish the value of an ounce of sterling, or 0,925 silver. The value of silver is for 99.9 percent pure silver.
Measure 925 Silver Value
Sterling, also referred to as 925 silver, is an alloy made up of 92.5 percent silver with other metals added to make it stronger. Weigh your silver jewelry on a jeweler’s scale. Multiply the value of an ounce of sterling as calculated in step one by the weight of your jewelry to get the value of your raw silver.
The Current Prices Of Silver Per Ounce
As a precious metal traded on the international commodities market, silver rises and falls in value minute by minute during trading hours. This ever changing value is known as the spot price. Technically, a price agreed for immediate settlement, usually within two days which is measured in dollars per troy ounce.