Scrap silver price per gram, pennyweight, and ounce

90% Coin Silver Scrap: $22.31/ oz | 925 Scrap Silver: $22.93/ oz | 999 Scrap Silver: $24.77/ oz

You might be among the people who are trying to determine the price of their scrap silver items. Perhaps you inherited some silver or you simply want to sell off silver items that you no longer have a use for. There are various reasons for wanting to price your silver scrap: simply to get rid of it or because you are aware of the current high market value and the time to sell is right. Whatever your motivation may be, we are here to assist you. Our goal is not only to inform you about the value of your silver, but also to offer guidance through our transparent and accessible scrap silver price list, which is availably in grams, pennyweight, and ounces.

List of Today’s Scrap Silver Prices

The price of silver, including scrap silver, is determined daily through trading on global financial markets. The price of silver constantly fluctuates, even while you are asleep. Two major markets for silver are the London Bullion Market Association and the New York Mercantile Exchange (COMEX division). The London Bullion Market Association sets the price twice a day through an auction process known as the London Silver Fixing. In this auction, prominent silver trading banks come to an agreement on a price at which they are willing to trade silver.

Below, you will find a list of the most commonly used silver alloys, along with the current buyback prices for scrap silver in grams (gm), troy ounces (oz), and pennyweight (dwt).

So Called “Lot Silver”

We have not included lot silver in our scrap silver price table due to its rarity in the US market. Furthermore, lot silver is typically sold at a higher premium and is not classified as scrap. The term “Lot” was originally used as a unit of measurement in the metallurgy industry to indicate the percentage of precious metal present in a piece of metal, such as gold or silver. This unit of measurement was commonly used in countries such as Russia, Austria, Germany (Hamburg), and the Netherlands during the 19th century.

Lot 15 equals 93.75% pure silver = $23.24/ oz
Lot 14 equals 87.5% pure silver = $21.69/ oz
Lot 13 equals 81.25% pure silver = $20.14/ oz
Lot 12 equals 75.0% pure silver = $18.59/ oz

Calculate Scrap Silver Prices at Home

To ensure the utmost transparency, we offer a silver calculator to easily calculate the current scrap silver price in both grams and pennyweight. All you need is a digital scale to obtain an accurate weight of your scrap silver. Knowing the weight is crucial for calculating the value correctly. Once you have the weight, using our silver calculator is a simple and quick process – just input the weight information to receive the current price.

Weigh Your Silver

Weighing can be done using a simple scale. Just make sure it’s a digital scale that is accurate. You can use a quarter coin as a reference weight and to check the accuracy of your scale. A quarter coins weighs exactly 5.67 grams. Place your silver on the scale and wait for the items to stabilize. Repeat this process for all items you want to price.

Calculate Your Price

The calculation of the current scrap silver price is simple: you can either use your own calculator and refer to the information in our price table or you can use our online silver price calculator for convenience.

CALCULATE YOUR PRICE SELL NOW

Can I sell my items for the current scrap silver price?

The short answer is: yes, you will always be able to get paid at least the current market price for scrap silver. To better understand the topic, let’s review a few key points. Items classified as “scrap silver” are usually damaged, outdated, or no longer in use. Bench jewelers and goldsmiths may also “create” scrap silver while working on jewelry. These items are all referred to as scrap silver and will sell for at least the current scrap silver price of $22.93 per ounce.

Please do not dispose of scrap silver, as not only will you earn some additional money, but you will also be helping the environment. Each ounce of salvaged silver is essential for making new jewelry or coins. Recycled scrap silver is crucial for the solar, automotive, and medical industries.

Safe Your Jewelry 🙂

Safe your rings, necklaces, bracelets, candelabras, forks, trays, spoons, medals, lighters, vases, dishes, and other items from being thrown away. Instead, sell these items to us and get paid based on the current scrap silver price. Even if you do not immediately need the money, do not discard these items. By putting the money to work, you can  support a local charity or fundraiser. Every dollar makes a difference and you will also be helping the environment.

Flatware

Flatware items such as spoons, forks, knives, cake lifters and servers are often considered scrap silver. Many of these items are also engraved with monograms making it difficult, if not impossible, to resell them as is. Additionally, flatware that was designed many years ago is often considered outdated and finding someone who appreciates the pattern from that era is rare. To add to the challenge, flatware is usually heavy due to the fact that silver used to be more affordable in the past. A heavy spoon with a significant weight can range from 60 to 120 grams, having a current value of $44.24 to $88.49.

What you can see here is a typical example of flatware silver scrap, which is priced based on the current scrap silver price.

Heavily Damaged Silver

Broken chains and necklaces, as well as stripped silver from old candlesticks and melted silver items, are commonly found everywhere. However, don’t be deceived by their appearance. These items hold significant monetary value and can be sold for the current scrap silver price. The appearance of these items is irrelevant as such items are always melted and refined. During this process, we not only assess the silver content, but we also “clean” the material from other metals such as copper, nickel, or zinc. In the end, we are left with a highly pure silver ingot, which is sought after by various industries in order to fulfill the demand for precious metals.

Below, you can see silver after being melted during a house fire.