Who Buys Scrap Silver May 2026

: Many local jewelers buy sterling scrap to melt down for their own custom creations. Additionally, independent artists on platforms like Facebook often look for scrap silver for sculpting or casting projects.

Scrap silver—ranging from tarnished jewelry and sterling flatware to industrial offcuts—is bought by several types of buyers, each offering different trade-offs between payout, speed, and convenience. As of , the spot price for silver is approximately $76.51 per ounce . 1. Primary Types of Scrap Silver Buyers who buys scrap silver

Before selling, identify the purity of your silver by looking for "hallmarks" or stamps, usually found near clasps or on the back of items: Sell to Kitco: Precious Metal Scrap : Many local jewelers buy sterling scrap to

: These are the highest-paying buyers because they are the "end of the line." They melt and purify the metal themselves. While they offer the highest percentage of the spot price, they often require larger minimum quantities (e.g., 500g to several kilograms). As of , the spot price for silver is approximately $76

: This is the fastest way to get cash, as they are widely available and pay immediately. However, they generally offer the lowest payouts because they have high overhead costs and must build in significant profit margins for resale. 2. Identifying What You Have