The Best Place to Sell Silver

Last Updated: August 17, 2026

The year is 2026, and the precious metals market has been anything but predictable. Gold and silver surged to record highs at the start of the year – and though they’ve cooled off a bit since then, prices remain historically strong.

Chances are you’ve heard the buzz about silver in recent months. Maybe you’ve even seen social media posts about scrap hunters searching thrift stores for hidden treasures. With silver prices at some of their highest levels in years, everyone wants a piece of the action. If you’re new to selling silver, our individual sellers guide covers what to expect before you get started. Whether you have jewelry, flatware, an old tea set, trinkets, coins, bars, or even dental scrap, now’s a great time to cash in for a profit.

There are plenty of places to sell your silver, but not all buyers are created equal. Here’s everything you need to know about different types of silver items and how to get the highest payment.

Understanding ‘Scrap Value’

The first thing to consider is exactly what you’re selling. Is your silver considered scrap material, or do you have a collector’s item on your hands? There’s a big difference between a broken sterling silver chain or mismatched earrings and a rare coin, like the 1893-S Morgan Silver Dollar, or a prized vintage flatware set.

Many silver items aren’t worth more than their scrap value, which is determined by metal purity and the current spot price of silver. When this is the case, working with a reputable precious metal refinery (like Garfield Refining) will help you maximize your payout.

On the other hand, if you have a rare antique or a coin with a high numismatic or collector value, you’re likely better off auctioning it to see who makes the highest bid. If you suspect you have something that’s worth more than its scrap value, be sure to do your research and/or get an appraisal.

Common Silver Items

Here are some examples of silver household items that may be worth selling:

• – Flatware: Flatware refers to forks, spoons, knives, and sometimes and flat plates or trays.
  • Sterling silver vs. silverplate: Sterling silver is 92.5% pure silver and usually marked with “Sterling” or “.925.”
  • Silverplate items are labeled “Plated” or “Electroplated.” These items only have a thin coating of silver and usually aren’t worth much. A set of sterling flatware’s value depends on its pattern and maker. Certain designs, for instance, once served royals and presidents, adding collectible appeal.
• – Holloware: Holloware describes silver items that have more volume or depth, typically designed for holding things (like food and drinks). Think tea pots, pitchers, jugs, water goblets, bowls, serving platters, candlesticks, vases and more. Again, look for markings to indicate purity.
• – Jewelry: Silver jewelry has been cherished for centuries for its lasting appeal and affordability compared to gold. Look for “.925” or “Sterling” stamps to identify sterling silver pieces.

Silver Bullion: Bars, Coins and Rounds

Silver bullion comes in the form of bars, coins and rounds. “Bullion” describes silver that’s valued primarily for its precious metal content and purity, rather than collector or artistic value. Most modern bullion coins and bars are .999 fine silver – basically as pure as it gets – while older coins (like pre-1965 U.S. dimes and quarters) are 90% silver.

When it comes to coins, there’s a whole interesting world to be explored – and if you go far enough down that road, you may find yourself deep in the realm of numismatics. But for simplicity’s sake, we’ll leave it at this: some coins are not worth any more than their scrap metal value, while others are prized for rarity, historical significance, and/or collector demand. Some silver dollars, for instance, have been auctioned for thousands or even millions!

History Tidbit: Pre-1965 Silver Coins

From 1794 to 1964, most circulating U.S. dimes, quarters, half dollars, and dollars were made of 90% silver and 10% copper. This alloy offered both durability and intrinsic value. While these coins are no longer minted today, they remain highly sought after by investors and collectors.

In the early 1960s, rising silver prices sparked concerns that U.S. coins containing silver – like dimes and quarters – would become worth more for their metal content than their face value. People started hoarding dimes and quarters. In efforts to avoid a coin shortage and the chaos that would ensue, the U.S. government passed the Coinage Act of 1965. This legislation reduced the silver content of half dollars to 40%, and removed silver from dimes and quarters altogether, replacing it with a copper-nickel mixture. Because of this, pre-1965 U.S. silver coins remain valuable for their silver content, collector interest and historical significance.

The takeaway? If you have pre-1965 silver dimes, quarters, or half dollars on your hands, you’re holding coins made of 90% silver. These coins can be valuable beyond their face value and may be sold to a precious metals refinery like Garfield if you’re looking to turn old coins into cash. Some people think that all dimes and quarters are still made of real silver – but now you know the difference!

Selling Silver: Estimating the Value of Your Items

To gauge how pure and valuable your silver is, first inspect it for markings such as “.925” for sterling silver. These marks are often tiny, so a magnifying glass may be helpful.

Remember that sterling silver isn’t pure – it’s an alloy made of 92.5% silver and 7.5% copper/other metals. Once you know the purity, you can estimate your item’s value by multiplying its weight in troy ounces by the current spot price of silver.

Are There Tax Implications When Selling Silver?

Precious metal sales may be subject to capital gains tax, depending on how long you’ve held the metal and the amount sold. Always consult your accountant for guidance on IRS reporting.

How Do I Prepare My Silver Items for Sale?

If you’re selling your silver to a refinery, there’s no need to polish or clean your items. For auctions or private sales, you may want to polish your silver beforehand.

Choosing a Silver Buyer

If you’re selling scrap silver, working directly with a refinery is the smartest option. Refineries process your metal in-house – essentially cutting out the middleman, which leads to a higher payout for you.

Garfield Refining, for example, uses advanced technology to extract maximum precious metal yields from your material, ensuring that not a fraction of an ounce is lost in the process.

What to Look for in a Precious Metals Refinery

• – Experience: people have been buying, selling and trading precious metals since ancient times, and most true metal experts have been in business for generations. Garfield Refining has been trusted since 1892.
• – Transparency: You should always know exactly how your payout is being calculated. Garfield provides detailed assay reports from our lab with each transaction, showing a complete breakdown of recovered metals.
• – Proven reputation: Look for positive reviews, industry recognition, and accreditation. Garfield is BBB-accredited with an A+ rating since 1966, boasts hundreds of positive Google Reviews, and has been voted ‘Best Refiner’ by Dentaltown Magazine for 15 consecutive years.
• – Ethical standards: An ethical refinery should have a clear due diligence policy. Bonus points for a sustainability policy, charitable contributions and community service involvement!

Selling Silver Online

Keep in mind that if you’re selling directly to an individual via eBay or Facebook Marketplace, you’ll likely cover the cost of shipping yourself. However, when working with a trusted precious metals refinery, you should never pay for shipping. Garfield Refining provides our clients with prepaid shipping labels for each shipment, so you can ship us your metals for free, whenever it’s convenient.

Sell Smarter and Earn More with Garfield

Garfield Refining has helped generations of clients get top payouts with unmatched customer service. In addition to our refining services, we also offer competitive prices on gold and silver bullion through our bullion store!

Ready to cash in? Start your free shipment today and discover why Garfield has been trusted for over 133 years!