Precious metals are providing many people with a way to generate extra money. Silver jewelry that isn’t worn anymore can be sold as scrap silver. The price of silver fluctuates regularly, and it is wise to watch the market before choosing to sell so that you can get the best possible price for your scrap silver.
It is also helpful to have an idea of what your silver is worth before approaching a buyer to keep from being shortchanged in the deal. Once you know the weight of your scrap silver, the value of the silver can be calculated with an online calculator.
Calculate The Price Of Scrap Silver
Remove anything that isn’t silver, such as a jewel or stainless steel link. Weigh the scrap silver on a scale that will weigh the silver in grams. Go to a website and click on the Silver Calculator. Select the spot price that is set in the calculator. The spot price is set to the current selling price of raw silver. Other prices can be entered if desired. Enter the weight in grams. Enter the purity rating of the scrap silver. Click on Calculate to find the value of the scrap silver.
Estimate Sterling Silver’s Value
Sterling silver is not pure but has been blended with copper to form a silver composite for use in jewelry, fine housewares and collectible items. The traditional ratio of silver to copper in Sterling Silver is 0.925 to 0.075. Anything below 90 percent silver is considered junk silver which may or may not be a critical term depending on the actual silver content of a given item.