what is the price of scrap silver

[LeJulia]

The price of scrap silver varies based on its purity and the current market spot price, which fluctuates daily. The amount you receive from a buyer will typically be less than the spot price to account for refining costs and the dealer's margin.

Based on pricing from June 11, 2024, one dealer was paying approximately $27.99 per troy ounce for pure (99.9%) silver. For more common forms of scrap, the prices were adjusted based on their silver content. For instance, sterling silver, which is 92.5% pure, was priced at about $25.89 per troy ounce. U.S. coins containing 90% silver were valued at around $20.24 per troy ounce, while coins with 40% silver content were priced near $8.90 per troy ounce. At that time, the market spot price for silver was $30.26 per troy ounce.

It is important to note that the silver market can be volatile. Some refineries and buyers may adjust their terms or require you to contact a representative directly for current pricing due to these market conditions. Therefore, the prices mentioned are a snapshot in time, and you should always check with a specific dealer for their current rates before selling your scrap silver.