Some precious metals goods are more valuable or in more demand in the market than others at any particular point in time. Factors such as whether the silver is in the form of a coin, bar, jewelry, or silver set, whether it is a government or private mint product, and the quality of the silver itself will all influence its resell value.
At GNJ Pawn Big we buy many types of silver. From coins to silver sets to jewelry, keep reading to learn more. If you have silver you want to sell, stop by or give us a call at (661) 224-1999 with any questions you might have.
Silver coins, when resold, tend to retain their worth rather well in most cases, due to the fact that sovereign (government) coins are globally recognized legal currency. This means they can be resold immediately. The high liquidity of coins means that they often have a greater resale value than rounds, which means that coins are more valuable than rounds.
Silver bars typically have a high resale value, especially if they have been stored in a reputable vault storage facility for a long period of time. Silver bars produced by the world’s most recognized mints and refineries have the highest resale value of any type of metal.
In order to facilitate identification and certification, these bars are generally stamped with the seal of the mint from where they were sourced, as well as a serial number. As a result, the risk associated with purchasing or selling silver bars is minimal.
When selling silver jewelry, it is more difficult to obtain the same resale value as when selling other metal items. This is due to the fact that most jewelry today contains an alloy in addition to other ornamental elements. Because it is not pure silver, the value of this item is highly subjective.
Before it can be turned into a bar, coin, round, or even additional jewelry, it must first be melted down and refined by the refiner. Because of the additional effort required, most jewelry sold today will command a lesser resale price than what was originally paid for it.
Scrap metal generally has a lesser resale value than silver bars, coins, or rounds, so you’ll get less money for it. The reason for this is that scrap metal must be melted down and then manufactured into the shape that investors or industrial manufacturers need.
The majority of silver dealers do not take scrap metal as a sell-back, preferring instead to only accept manufactured goods as a return. If you’re wanting to sell scrap metal, check with your local pawn shop. You can contact GNJ Pawn Big at (661) 224-1999 now to learn more.