Q&A for How to Sell Silver

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Is silver insured when sent through the mail? I pay for postage, correct?

Donagan

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Mail can never be considered 100% safe. That's why insurance is available. The customer pays -- directly or indirectly -- for postage and insurance.

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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.)

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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.

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I have a lot of sterling rings with agates and other like stones, are they acceptable?

Donagan

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Only a buyer can answer that. Take them to a jeweler for appraisal.

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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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