How To Buy Scrap Silver Jewelry

Buying silver scrap jewelry is a good way to make extra money. However, it is very important if you are acting as a silver scrap buyer to understand the entire buying and selling process. Finding, verifying and estimating the item's worth are steps you must be follow if you are to be successful as a silver dealer.

1.  Find the Jewelry

• Scour local flea markets or trade shows for pieces, which may be sold cheaply.


• Advertise on the Internet that you are buying old silver jewelry.


• Post an ad in your local newspaper that you are paying for broken or damaged silver jewelry.

2.  Test the Pieces

Scrap silver jewelry can be difficult to evaluate because oxidation can turn it black since the piece is no longer valuable as a jewelry item and its core worth is in its silver content. The item should be tested with acid to get an accurate reading of its value.

• Open the item so the metal is visible with a jeweler's file.


• Apply a drop of jewelry acid to the cut.


• Review the result. If it is a whitish milky gray the silver content is more than 90 percent and the item is probably sterling silver. Remember, the whiter the color the more silver there is in the item.


• However, if green bubbles develop when the acid is applied the item is probably only silver plated and not solid silver.

3.  Know the Value

• Keep up to date on what silver is selling for on the open market. It is important not to offer the client too much for the jewelry, or you may not make a profit.


• Traditionally, the seller will receive about 40 percent per ounce for the value of the metal on the scrap market.


• Develop a reputation for paying fair prices and you will develop a larger client base.