Silver Scrap Calculator

Silver Scrap Value Calculator

Grams Troy Ounces

999 (Fine Silver) 925 (Sterling Silver) 900 (Coin Silver) 800 (European Standard) Custom Purity

$/Troy Oz $/Gram

(Typical range: 70-90% of melt value)

function toggleCustomPurity() { var puritySelect = document.getElementById("silverPurity"); var customPurityDiv = document.getElementById("customPurityDiv"); if (puritySelect.value === "custom") { customPurityDiv.style.display = "block"; } else { customPurityDiv.style.display = "none"; } } function calculateSilverScrapValue() { var scrapWeight = parseFloat(document.getElementById("scrapWeight").value); var weightUnit = document.getElementById("weightUnit").value; var silverPurity = document.getElementById("silverPurity").value; var customPurity = parseFloat(document.getElementById("customPurity").value); var spotPrice = parseFloat(document.getElementById("spotPrice").value); var spotPriceUnit = document.getElementById("spotPriceUnit").value; var dealerPercentage = parseFloat(document.getElementById("dealerPercentage").value); var resultDiv = document.getElementById("result"); if (isNaN(scrapWeight) || scrapWeight <= 0) { resultDiv.innerHTML = "Please enter a valid weight for your silver scrap."; return; } if (isNaN(spotPrice) || spotPrice <= 0) { resultDiv.innerHTML = "Please enter a valid current silver spot price."; return; } if (isNaN(dealerPercentage) || dealerPercentage 100) { resultDiv.innerHTML = "Please enter a valid dealer payout percentage (0-100)."; return; } var purityDecimal; if (silverPurity === "custom") { if (isNaN(customPurity) || customPurity 100) { resultDiv.innerHTML = "Please enter a valid custom purity percentage (0.01-100)."; return; } purityDecimal = customPurity / 100; } else { purityDecimal = parseFloat(silverPurity) / 1000; // e.g., 925 becomes 0.925 } var weightInGrams; if (weightUnit === "troyOunces") { weightInGrams = scrapWeight * 31.1035; // 1 troy ounce = 31.1035 grams } else { // grams weightInGrams = scrapWeight; } var spotPricePerGram; if (spotPriceUnit === "perTroyOunce") { spotPricePerGram = spotPrice / 31.1035; } else { // perGram spotPricePerGram = spotPrice; } var pureSilverWeightInGrams = weightInGrams * purityDecimal; var dealerFactor = dealerPercentage / 100; var estimatedValue = pureSilverWeightInGrams * spotPricePerGram * dealerFactor; resultDiv.innerHTML = "Estimated Scrap Value: $" + estimatedValue.toFixed(2); } // Initialize custom purity visibility on page load document.addEventListener('DOMContentLoaded', function() { toggleCustomPurity(); });

Understanding Your Silver Scrap Value

Whether you've inherited old jewelry, found forgotten coins, or have industrial silver waste, understanding the true value of your silver scrap is essential before selling. This calculator helps you estimate the melt value of your silver items, taking into account key factors that influence its price.

What is Silver Scrap?

Silver scrap refers to any item containing silver that is no longer used for its original purpose and is intended for melting down and refining. This can include:

• Old Jewelry: Rings, necklaces, bracelets, earrings, often sterling silver (925).
• Silverware/Flatware: Spoons, forks, knives, serving pieces, typically sterling (925) or coin silver (900).
• Coins: Pre-1965 US dimes, quarters, half-dollars (90% silver), and some foreign coinage.
• Industrial Scrap: Electrical contacts, photographic film, medical equipment, and other items containing silver.
• Dental Scrap: Old dental fillings or crowns that contain silver alloys.

Key Factors Affecting Silver Scrap Value

The value of your silver scrap is not simply its weight. Several critical factors come into play:

1. Weight of Silver Scrap

This is the most straightforward factor. The heavier your silver item, the more silver it contains. Weight is typically measured in grams or troy ounces. Remember that non-silver components (like gemstones in jewelry or steel knife blades) are usually removed before weighing for melt value.

2. Silver Purity (Fineness)

Pure silver is 99.9% (or 999 parts per thousand) silver, often called "fine silver." Most silver items are alloys, meaning they are mixed with other metals (like copper) to increase durability. Common purities include:

• 999 (Fine Silver): Nearly pure silver, often found in bullion bars and rounds.
• 925 (Sterling Silver): 92.5% silver, 7.5% other metals (usually copper). This is the most common purity for jewelry and silverware.
• 900 (Coin Silver): 90% silver, 10% copper. Common in US coinage minted before 1965.
• 800 (European Standard): 80% silver, 20% other metals. Found in some older European jewelry and flatware.

The higher the purity, the more valuable the scrap per unit of weight.

3. Current Silver Spot Price

This is the real-time market price for one troy ounce of pure silver. The spot price fluctuates daily based on global supply and demand, economic conditions, and investor sentiment. Our calculator uses the spot price you provide to determine the base value of the pure silver content.

4. Dealer Payout Percentage

When you sell silver scrap to a dealer or refiner, they will not pay you the full spot price for the pure silver content. They need to cover their operational costs, refining fees, and make a profit. This is reflected in the "dealer payout percentage," which is typically between 70% and 90% of the melt value. This percentage can vary based on the dealer, the quantity of silver, and the current market conditions.

How the Calculator Works

Our calculator performs the following steps:

1. Converts Weight: Your scrap weight is converted to a standard unit (grams).
2. Determines Pure Silver Content: The total weight is multiplied by the silver purity percentage to find the actual weight of pure silver in your scrap.
3. Calculates Melt Value: The pure silver weight is multiplied by the current silver spot price (converted to per gram if necessary) to get the raw melt value.
4. Applies Dealer Payout: Finally, the melt value is multiplied by the dealer payout percentage to give you an estimated cash value you might receive.

Example Calculation:

Let's say you have 100 grams of Sterling Silver (925), the current silver spot price is $25.00 per troy ounce, and your dealer offers an 80% payout.

• Weight: 100 grams
• Purity: 92.5% (0.925)
• Pure Silver Content: 100 grams * 0.925 = 92.5 grams
• Spot Price per Gram: $25.00 / 31.1035 grams/troy oz = $0.8037 per gram (approx.)
• Melt Value: 92.5 grams * $0.8037/gram = $74.34
• Dealer Payout: $74.34 * 0.80 = $59.47

Using the calculator with these inputs should yield a similar result.

Tips for Selling Silver Scrap

• Know Your Purity: Look for hallmarks (e.g., "925", "Sterling", "900", "800") on your items. If unsure, a jeweler can test it.
• Separate Items: Separate silver from non-silver components (e.g., remove gemstones, steel knife blades).
• Get Multiple Quotes: Shop around to different dealers or refiners to compare their payout percentages.
• Track Spot Price: Keep an eye on the current silver spot price to sell when the market is favorable.
• Understand the Process: Ask the dealer how they determine the weight and purity, and how their payout percentage is applied.

This calculator provides an estimate. The actual amount you receive may vary based on the specific dealer, refining costs, and market conditions at the time of sale.