“Where can I sell silver near me?” That’s one of the most frequently searched questions when people find themselves fallen upon hard times. If you’re struggling to make ends meet or just find yourself in need of some cash, selling silver is a great way to get out of a rut. Even if you just have old silver items lying around it’s better to try to make some money off of it rather than throwing it away. But who will buy silver San Diego?
There are actually a few different ways to sell silver, and there are multiple businesses who will buy silver San Diego. Before you consider all your options, it’s important to know what you have.
So, here’s the thing:
If you want to get the best value for your silver, you should do your research first. We get it- you’re just trying to make some money, and research sounds tiresome and tedious. But it’s the best way to be sure you won’t be scammed or ripped off. You don’t want to try to sell silver without having any idea of what it may be worth. Dishonest silver buyers may sense your lack of knowledge and use it to their advantage, potentially offering you a price way less than the actual value.
So, how do you value your silver? Before taking your items to one of the numerous locations that buy silver, try to inspect it yourself. Silver objects are made of 92.5% silver and 7.5% other metals, usually copper. A silver-plated piece is simply a base metal that is coated with silver; therefore, these items usually hold almost no monetary value. Before you waste your time bringing silver-plated items to a buyer and then getting turned away, inspect your pieces for hallmarks or stamps. Real silver will be marked with either “925,” “sterling,” or sometimes even both. Then, do a little bit of research online and compare prices of similar items. If your item is an antique, the silver indications may have been worn off. Bring silver antiques to silver buyers for an evaluation- you may be in possession of something that is worth a surprising amount of money.
Once you’ve attempted to value your silver items, it’s time to find someone you trust who will buy silver San Diego. Let’s take a look at seven common ways to sell silver.
7 Places that Buy Silver San Diego
The smartest and safest way to sell your silver is to a local jeweler, like Leo Hamel Jewelry & Gold Buyers in San Diego. Local jewelers will typically buy all kinds of silver. This includes silver jewelry, silver coins, silver bullion, silver flatware, and even scrap silver. Silver purchased by local jewelers is usually refurbished to put on display in their showrooms, so they are willing to offer you a higher price. Their need equates to your reward.
- Professionally trained Graduate Gemologists and silver buyers; knowledgeable about silver and numismatics
- Private, in-person evaluation
- Easy, fast, secure
- Immediate and fair payout; market value prices
- Buyers are not pushy; you won’t be pressured to sell anything you don’t want to
- May not have one nearby if you live in a small town
- Keep in mind jewelers have to make a profit to stay in business, so you might not get exactly what you expect
Local Coin Dealers:
Are you specifically trying to sell silver coins? An option is to sell to a local coin dealer. Selling to a local coin dealer is a fast and convenient way to sell silver coins. Coin dealers are very knowledgeable in their field. Depending on how honest the shop owner is, you should receive a decent offer for your silver coins.
- Close to home
- Instant payout
- Expertise on numismatic coins
- Face-to-face interaction
- Limited options
- Coin shops buy to turn a profit, so you will usually be offered melt value for your silver
If you’re looking for a quick and easy way to sell silver consider going to a pawn shop. Currently, more than 12,000 pawn shops operate in the United States. They are very easy to find, which makes them a super convenient option. Pawn shops have somewhat of a bad reputation so test the waters first before deciding which one will offer you the most money for your silver valuables.
- Pawn shops can be found all over the country
- Instant payout
- Accept most forms of silver
- Don’t have the same level of knowledge as jewelers and coin dealers, so you might not receive the best value
- Expect to receive less than at a coin shop
- Not private, can be interrupted by other customers
- Dealers can be a little pushy
As you’ve probably noticed, there is no shortage of online silver dealers. This is sometimes a popular way to sell and buy silver. But again, it’s wise to do your research first to be sure you’re selling to a reputable and trustworthy online silver dealer. You have the option to choose how you’d like to receive payment for your valuables (mail, direct deposit, or wire transfer), but keep in mind this is not an instant payout.
- Many different options to choose from
- Sell silver from the comfort of your home (although you have to go out to mail it)
- Online transactions are not private
- Payment is not instant
- Out of pocket payment for shipping costs
- Risk of loss or delay during shipment
Online auctions are another way to sell silver for cash. There are thousands of listings and an abundance of potential buyers. However, rare silver items and collectibles sell faster and for more money than standard silver items. One of the biggest downfalls of online auctions, like Ebay, is the seller fees. Standard fees are 9 percent and can increase from there. On top of seller fees, you also have to pay shipping costs, which decrease your total profits.
- Lots of potential buyers
- Auction style bidding can increase the price
- Rare items command high premiums
- Conversely, auction style bidding means your silver could undersell for less than it is worth. It really is a gamble.
- Doesn’t work as well for bullion
- Out of pocket payment for shipping costs
- Seller fees decrease your profit margins
- Lots of competition from thousands of other items for sale
Smelters & Refiners:
Another way to sell scrap silver is by selling to smelters and refiners. Silver buyers will usually have your scrap silver melted down anyway, so you can cut out the middle man by going directly to the source. It’s best to find local smelters or refiners so you don’t have to spend the extra money on shipping fees.
- Great for smaller items like jewelry, cutlery, or sterling silver flatware
- Can’t sell bullion or coins
- Expect to receive melt value or just under melt value
- Typically only work with large amount of silver
“Cash for Silver/Gold” Parties:
In our opinion, selling silver at a silver/gold party should be avoided at all costs. We won’t get into all the dirty details right now, but if you’d like more information about why you shouldn’t sell silver to silver/gold parties click here.
We Buy Silver San Diego
If you’re looking for the best place to sell silver in San Diego, visit Leo Hamel Jewelry & Gold Buyers. With 5 convenient locations throughout San Diego, selling silver has never been easier. Give us a call at 619-299-1500, shoot us an e-mail, or simply stop by for an evaluation. No appointment is necessary!