What Are the Best Tips for Selling Sterling Silver?

Some of the best tips for selling sterling silver are to determine whether the buyer also purchases gems, know about how much the silver is worth, and insure the package the metal is shipped in. It is common for companies to refuse to purchase gems on silver jewelry because of their low resale value, so sellers should remove the gems before the sale. One of the most important selling techniques is to know a fair price for selling sterling silver to avoid being taken advantage of. In addition, if selling sterling silver to someone via postal mail, the package should be insured to guarantee the money.

When selling sterling silver jewelry that has gemstones, it should be determined whether the buyer also purchases gems. Many companies and individuals who buy silver are not interested in stones such as amethysts, rubies, or even diamonds. The weight of such gems is deducted from the total weight of the silver, then the seller is issued a check based on the adjusted weight. Sellers are often encouraged to remove gems from sterling silver jewelry, but they can also leave them in. Depending on the buyer, the gems might be recycled into new jewelry or eventually sold in bulk at a discount.

Many people selling sterling silver will not receive anywhere close to the price they originally paid. Some companies exist primarily to buy silver and gold at incredibly low prices, then sell the metal for much more. It is normal for potential buyers to be reluctant to pay full price, but there is no need to settle for a third or less of the going price of the silver. The seller can educate him or herself on the going price of silver by determining the purity of the metal in question and weighing it. Once done, the seller will have a better idea of fair prices.

In a lot of cases, selling sterling silver means shipping the metal to another part of the country or to another country entirely to reach the buyer. This package should be insured with the shipping company up to the amount of the silver contained within. The seller might also need proof that the goods are worth that amount, which can be obtained by having the silver appraised. If the package is shipped uninsured and goes missing, the person selling sterling silver will have suffered a total loss. Most packages are shipped and arrive successfully, but without insurance, the seller is at risk should the package become lost or the buyer claims it never arrived.