Instability in the current economic climate has caused many people to investigate the value of any precious metals they may have. While the price of gold has been climbing steadily, the price of silver tends to fluctuate far more rapidly. There are a few simple guidelines to follow when investigating different silver buyers to ensure that you get offered the most value for your precious metals.
Since the economic downturn in 2008, more and more people the world over have been buying and selling precious metals as a means to store wealth and make profits. This has caused a plethora of silver and gold buying operations to pop up everywhere from shopping mall kiosks to roadside stands.
If you are looking for a silver buyer to sell some metals to, it is best to work with a reputable dealer who has been in business for at least a few years, rather than a fly-by-night company that will pack up and leave at a moments notice. This is because the reputable dealer will have built a reputation of trust with customers or they would have been driven out of business already. A quick internet search or a search in your phonebook should lead to some reputable dealers in your area.
Coin dealers and those who are able to assess the value of precious metals are known as Numismatists and many of them will have earned some sort of certification or degree in this artful skill. When seeking a silver buyer, it is important to turn to a certified Numismatist.
Once you have an official price on the value of the silver you can then choose to sell it to the Numismatist or you can look to Craigslist or eBay to sell your silver. If you are going to work with Craigslist or eBay, you must be certain to protect yourself from fraud by operating within the strict guidelines that both these sites offer. eBay offers far more protection for both buyer and seller than does Craigslist. In addition, eBay offers a more anonymous transaction so there is less chance of theft or personal injury to the seller.
When attaining the value of silver coins or jewelry it is important to understand that you will be offered something near the Spot price of silver for that given day. The Spot price is the current price that silver is being traded at and it is updated every few minutes. By searching a site like APMEX, the American Precious Metals Exchange you can attain the Spot price of silver so that you know you are not being ripped off. It is also important to understand that pure silver items will usually fetch a few dollars under Spot price per ounce, so that the dealer can then re-sell the items at a profit.
If you are looking to sell silver coins rather than jewelry or other items it is necessary to do some research beforehand to find the value of the coins. Many dealers will pay more for coins that are rare or are uncirculated. Many uncirculated coins come in protective casings or tubes and they have never been touched by human hands.
If your silver is tarnished or marked, be certain to leave it that way, as cleaning it will not add to value but will often diminish the value. Reputable silver buyers are out there, and if the seller operates with some diligence, they can get top dollar for their precious metals.