How to Buy Scrap Silver
Scrap silver can be found everywhere from inside old coins to appliances and specialty paper. Scrap silver should not be confused with the tin found in old audio-visual equipment. Silver was also used in old industrial processes, so scrap silver can also be found there. Additionally, almost half of all silver is used for photography and can be found in photographic paper that has not yet been utilized. The silver content in old coins determines if they are worth buying as scrap. Old coins comprised of silver can be worth money if you can find them.
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Instructions
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Buy rings and chains that have become broken, tarnished or unwanted. The jewelry may not be worth anything to people as accessories, however, the scrap silver within is still worth its weight. Search garage sales and flea markets to find it. Make sure to offer well under the current or "spot" market value for scrap silver based on its weight. Familiarize yourself with silver current values via a silver melting and conversion calculator so you know how to tender a profitable offer. Learn to differentiate between silver and alloys, since these base metals won't get you as a high of a conversion rate.
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Identify some vintage coin dealers. Coins that become tarnished, even when they contain silver, become less valuable to them. Typically these dealers prefer to focus on buying and selling coins, so they often are willing to part with uncirculated coins that now have less value within the collectors marketplace. Don't, however, attempt to achieve too high a profit margin with old coin purchases from coin dealers. They have a working knowledge of silver's value.
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Have a "silver party" and bring your scale. Provide pizza and beverages as well as cash on the spot to people who come and sell you their unwanted silver. They will be happy to get some money for items such as broken jewelry that they had long considered just clutter. Ask those you purchase silver from to consider having their own silver party for people in their circle. Offer them a percentage of the night's take. These parties can end up saving you a lot of valuable time searching sales and flea markets. Some people make a nice living out of building a network of people who have such parties.
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