Learning How To Earn Cash From Scrap Silver

Published: 29th March 2012
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You could have heard it from your very own friends or read somewhere that an increasing number and more people are making some fortunes by selling scrap silver. Yes, itís true. It can happen to you as well, but only if know exactly whatís the right thing to do at the right time. So, are you wishing to get involved in a venture but have no idea how to get started? Let us give you some valuable tips:

What to get?

Sterling silver -- Sterling silver is definitely an alloy of 92.5% silver and other metals like copper and/or nickel. It truly is usually in the form of coins, jewelry, cutlery, commemorative buttons, pins, dental fillings, electronic gadgets, as well as some industrial materials. Firstly, the most probable location to find sterling silver is your drawers or jewelry box. Old broken bracelets, dental caps or crown, dental fillings, necklace, rings with missing stones, earring with missing half, or anything you end up picking there that you suspect to be silver and not worth keeping anymore may well be worth collecting. You can have them analyzed later on so do not worry about having non-silver items. The next place to rummage would be the kitchen drawers, cabinets, and the storage under the counter or bar. There you might discover some old useless fork and knives, bottle openers, bowls, etc. It is easier to identify if these items are made of sterling silver. Often times there are specials markings on the utensils that are genuine silver. If the engraving bears the saying Sterling, S/S, Sterling 925 or just 9.25 you can assume that it is a genuine sterling silver.

Also, boxes up your attic or tool boxes down the basement or garage are the places where you can explore for silver. What you may find there that might possibly be made of genuine silver are door knobs, drawer pulls, antique novelty items like table tops, picture frames, ashtray, etc. They could or may not bear the special mark typical to most silver products but making simple test by yourself is possible by examining the color closely; if itís genuine silver it mustíve tarnished a lot. To test dubious items, you may also use nitric acid. Silver-plated items will have permanent green spot where nitric acid is directed and will discolor other non-silver materials. If you canít do this yourself, you can take your collection of junk to a jeweler or pawnshop to make them tested.

How to locate a good buyer?

Once youíve collected a fair amount of scrap silver and ready to turn them into cash, you can begin doing all of your own research to uncover known and reputable dealer to make the trade. You could have many alternatives in selling your scrap silver; you can bring them personally to a refiner, pawnshop, jeweler, or private collector if theyíre available to your location or find these dealers online. However, be sure you have inquired to various dealers before selling your silver get the best offer. Most online dealers have live price chart that specifies the amount for each precious metal which they buy; and considering that prices vary from time to time, therefore, knowing when is the right time to sell is necessary to make sure you get maximum profit.

Ingenuity in seeking extra cash is very important to keep up the demands of high cost living nowadays. Selling scrap silver as well as other precious metals is definitely one of the means that you can utilize to make cash. If combined with some of perseverance, your ingenuity can surely reap great rewards.

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