Scrap Silver Value Calculator
Use this calculator to estimate the melt value of your scrap silver items based on their weight, purity, the current market spot price, and a typical dealer payout percentage.
e.g., 92.5 for Sterling Silver, 99.9 for Fine Silver
Check current market prices from financial news sources.
Typical range is 70-90% depending on the dealer and market conditions.
Understanding Your Scrap Silver Value
Selling scrap silver can be a great way to convert old, broken, or unwanted silver items into cash. However, understanding how its value is determined is crucial to ensure you get a fair price. This calculator helps you estimate the melt value of your silver based on key factors.
Key Factors in Scrap Silver Valuation:
- Silver Weight: This is the most straightforward factor. The heavier your silver item, the more precious metal it contains. Weight is typically measured in grams or troy ounces. Our calculator uses grams for input and converts it to troy ounces for standard market pricing.
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Silver Purity (Fineness): Not all silver is 100% pure. Most silver items are alloys, meaning they are mixed with other metals (like copper) to increase durability. Purity is expressed as a percentage or a millesimal fineness (e.g., .925 for 92.5% pure).
- Sterling Silver (.925 or 925): Contains 92.5% pure silver and 7.5% other metals, usually copper. Common in jewelry, flatware, and decorative items.
- Fine Silver (.999 or 999): Contains 99.9% pure silver. Used in bullion coins, bars, and some high-end jewelry.
- Coin Silver (.900 or 90%): Historically used in U.S. coinage before 1965.
- Current Silver Spot Price: This is the real-time market price of one troy ounce of pure silver. The spot price fluctuates daily based on global supply and demand, economic indicators, and geopolitical events. You can find the current spot price on financial news websites or precious metal dealer sites.
- Dealer Payout Percentage: When you sell scrap silver to a dealer, they will not pay you the full melt value (the value based purely on weight, purity, and spot price). Dealers need to cover their operational costs, refining fees, and make a profit. This is reflected in their "payout percentage," which is the percentage of the melt value they offer you. This typically ranges from 70% to 90%, but can vary. It's always wise to get quotes from multiple dealers.
How to Use the Calculator:
Simply input the weight of your silver in grams, its purity percentage (e.g., 92.5 for sterling), the current silver spot price per troy ounce, and an estimated dealer payout percentage. The calculator will then provide an estimated value for your scrap silver.
Example Calculation:
Let's say you have 100 grams of Sterling Silver (.925), the current spot price is $25.00 per troy ounce, and the dealer offers an 80% payout.
- Convert grams to troy ounces: 100 grams / 31.1035 grams/troy oz = 3.215 troy ounces
- Calculate pure silver content: 3.215 troy oz * 0.925 (purity) = 2.974 troy ounces of pure silver
- Determine raw melt value: 2.974 troy oz * $25.00/troy oz = $74.35
- Apply dealer payout: $74.35 * 0.80 (80%) = $59.48
This means you could expect to receive approximately $59.48 for your 100 grams of sterling silver under these conditions.