How to Sell Silver Bullion
Because there are so many different types of silver bullion available it’s quite easy to sell silver bullion in the market. There are plenty of avenues you can take to sell silver bullion, from using dedicated silver bullion dealers, to using pawnbrokers, or even selling privately through dedicated online channels.
Local Silver Bullion Dealers
A quick search on the internet will provide you with a vast list of both silver bullion dealers as well as silver coin dealers. These types of dealers specialise in selling precious metals and they will be able to assess your silver bullion and provide you with competitive selling prices based on market value. Silver bullion dealers watch the daily gold and silver prices very carefully to keep up with the changing price and the fluctuations in the market.
Silver bullion dealers are often also available at local coin shows where you can consult with different buyers and find the most competitive prices.
Another quick and easy way to sell silver bullion is through pawnbrokers and pawn shops. These stores allow you to take your silver bullion in, and you will be provided with a fast, on-the-spot assessment of its value. The pawnbrokers will also supply you with an immediate price on your silver bullion and pay you out immediately. However, you will most likely receive less money from a pawnbroker than of a gold or silver bullion dealer.
Smelters and Refiners
If you don’t feel like using a middle man or agent to sell silver bullion too, you may be able to go directly to a precious metal refiner. However refiners usually prefer scrap silver over the more valuable silver bullion, and they will also prefer large amounts to smelt in bulk. Often you will find that they don’t deal with the public and will refer you back to a local dealer. However, it’s still worth the phone call.
Sell Silver Bullion Privately
A final method on how to sell silver is to go the private or do-it-yourself route. You can join online selling platforms and auction websites such as Ebay or similar, or specific silver bullion forum groups to do this.
The big advantage of going this route is that you can decide on your asking price and there is no need to pay a middle man or an agent.
But using an auction or forum platform also has some disadvantages, such as the underselling of your silver bullion when using an auction platform, shipping charges and other fees that are charged by these platforms, and lack of demand for silver bullion because of a limited number of interested buyers. Unlike a gold or silver bullion dealer which will pay you cash on the spot.
It’s clear to see that there are many alternatives to use when you sell silver bullion, it will simply be a matter of researching the different options and choosing the one that suits your needs best and will give you maximum returns on your silver bullion.