Q&A for How to Sell Silver

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  • Question
    Is silver insured when sent through the mail? I pay for postage, correct?
    Donagan
    Top Answerer
    Mail can never be considered 100% safe. That's why insurance is available. The customer pays -- directly or indirectly -- for postage and insurance.
  • Question
    Many people talk about investing in silver, but gold can easily sell in the US. Where can I sell pure silver that isn't a pawn shop or online?
    Donagan
    Top Answerer
    Most big towns have at least one coin dealer. Go there. Don't accept less than "spot price" unless you're in a big hurry. (Find the current spot price for silver online at Kitco.com or Monex.com.)
  • Question
    is it normal for buyers to pay more than the spot price?
    Stavo
    Community Answer
    If you are purchasing physical silver, there will usually be a small premium over the spot price.
  • Question
    I have a lot of sterling rings with agates and other like stones, are they acceptable?
    Donagan
    Top Answerer
    Only a buyer can answer that. Take them to a jeweler for appraisal.
  • Question
    I inherited 10 10-ounce silver bars . Where can I go to get a fair price in Los Angeles?
    Donagan
    Top Answerer
    Check a website like Kitco.com or JMBullion.com (or many others) for the current spot price of silver. Then call or go to any precious-metal dealer or coin dealer and ask what they're paying for silver bars. They should be paying almost exactly the current spot price. Check with several dealers. Some could even offer slightly higher than spot (if the market is rising).
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