You may have heard it from your friends or read somewhere that more and more people are making some fortunes by selling scrap silver. Yes, it's true. It can happen to you too, but only if know exactly what's the right thing to do at the right time. So, are you wishing to get into the business but do not know how to get started? Let us give you some helpful tips:
What to get?
Sterling silver -- Sterling silver is an alloy of 92.5% silver and other metals like copper and/or nickel. It is usually in the form of coins, jewelry, cutlery, commemorative buttons, pins, dental fillings, electronic gadgets, and some industrial materials. Firstly, the most probable place to find sterling silver is your drawers or jewelry box. Old broken bracelets, dental caps or crown, dental fillings, necklace, rings with missing stones, earring with missing half, or anything you find there that you suspect to be silver and not worth keeping anymore is worth collecting. Don't worry about picking non-silver items; you can have them analyzed later on. The second place to rummage is the kitchen drawers, cabinets, and the storage under the counter or bar. There you might find some old useless fork and knives, bottle openers, bowls, etc. It is easier to identify if these items are made of sterling silver. Very often, genuine silver have some special markings on the underside of utensils. If the engraving bears the word Sterling, S/S, Sterling 925 or just 9.25 you can assume that it is a genuine sterling silver.
You may also look for silver in the boxes up your attic or even in tool boxes down the basement or garage. What you may find there that could possibly be made of genuine silver are door knobs, drawer pulls, antique novelty items like table tops, picture frames, ashtray, etc. They may or may not bear the special mark typical to most silver products but making simple test on your own is possible by examining the color closely; if it's genuine silver it must've tarnished a lot. You can also use nitric acid to test dubious items. Silver-plated items will have permanent green spot where nitric acid is applied and will discolor other non-silver materials. If you can't do this yourself, you can take your collection of junk to a jeweler or pawnshop to have them tested.
How to find a good buyer?
Once you've collected a fair amount of scrap silver and ready to turn them into cash, you can start doing your own research to find known and reputable dealer to make the trade. You have many options in selling your scrap silver; you can bring them personally to a refiner, pawnshop, jeweler, or private collector if they're available to your location or find these dealers online. But before selling your silver, make sure you've inquired to more than one dealer to find the best offer. Most online dealers have live price chart that specifies the price for each precious metal that they buy; and considering that prices vary from time to time, therefore, knowing when is the right time to sell is crucial to ensure you get maximum profit.
In these times of financial instability, ingenuity in finding ways to earn extra income is crucial in order to keep up with the demands of high cost living. Selling scrap silver and other precious metals is one of the means that you can utilize to make cash. If combined with a little bit of perseverance, your ingenuity can surely reap great rewards.
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