How To Price Silver Jewelry
When it comes to pricing metal, it is easy to calculate. Silver comes in forms such as silverware, coins and jewelry. This can add value, which is more than what it would be as raw metal. All forms of silver have its own unique methods of valuation. However, it is important to have all the resources available to price silver. It is not hard but at the same time, you must be prepared for the task.
Items you will need to price silver include:
- Scale that will measure troy ounces
- Silver to evaluate
- Jeweler’s loupe or magnifying glass
- Jewelry box, coin storage media, or another place to store silver
- Become familiar with the basic price of silver. Silver is traded in markets all over the world and pricing information is available from sources like Kitco Inc., Bullion Desk, NYMEX and the Tokyo Commodity Exchange. When you are a private buyer or seller of silver, you will have to expect that the price you are quoted will be a little higher or lower that the world market price. The world market price is set by movement of big amounts of metal among institutional investors.
- Stay aware of the total weight of silver bullion bars, silver rounds and silver bullion coins. Multiply by the price of silver to come to a valuation. Bullion that is in the form of bars is marked with fineness and weight. That is great because you do not have to weigh them with a scale.
- Do research about the numismatic value of silver coins that are not issued as bullion coins. Certain silver coins are worth a lot more than their weight depending on their grade and rarity. You can compare the coins you have with information in guides like “A Guide Book of United States Coins” or the “Standard Catalog of World Coins” series.
- See how much silver jewelry, silverware and silver plates weigh and multiply the raw weight by its fineness of silver. The fineness can be anywhere from .800 to .999.
- Study references like the “Collectible Silver Jewelry: Identification and Value Guide” to figure out more when it comes to what you have. You can also ask a jeweler for a more accurate estimate for the value of silver jewelry.