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Help! How much for Sterling Silver?

 
Anonymous Coward
User ID: 1352955
United States
04/25/2011 05:03 PM
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Help! How much for Sterling Silver?
I have a 10,000 grain bar of sterling silver. My local pawn shop only wants to give me $700.

Is that too low or should I just hold it and wait?
Anonymous Coward
User ID: 969313
United States
04/25/2011 05:05 PM
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Re: Help! How much for Sterling Silver?
Don't go to the pawn shop. Go to a pm dealer or auction shop. Most auction shops will value your metals for free.
Anonymous Coward
User ID: 1138876
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04/25/2011 05:06 PM
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Re: Help! How much for Sterling Silver?
Its made of 92% silver, how much does it weigh? I found some sterling silver in my backyard while digging (about 10 inches down) and hope to cash in well to.
Anonymous Coward (OP)
User ID: 1352955
United States
04/25/2011 05:07 PM
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Re: Help! How much for Sterling Silver?
It weighs just slightly over 22 ozs
Anonymous Coward
User ID: 1309528
United States
04/25/2011 05:09 PM
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Re: Help! How much for Sterling Silver?
Its got about 901 dollars worth of silver in it, + a few bucks worth of copper.
Anonymous Coward
User ID: 975792
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04/25/2011 05:09 PM
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Re: Help! How much for Sterling Silver?
It weighs just slightly over 22 ozs
 Quoting: Anonymous Coward 1352955


what is the purity ? ... three 9's or four 9's fine ??
Anonymous Coward
User ID: 1353022
United States
04/25/2011 05:10 PM
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Re: Help! How much for Sterling Silver?
It weighs just slightly over 22 ozs
 Quoting: Anonymous Coward 1352955


what is the purity ? ... three 9's or four 9's fine ??
 Quoting: Anonymous Coward 975792


.925
Anonymous Coward (OP)
User ID: 1352955
United States
04/25/2011 05:11 PM
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Re: Help! How much for Sterling Silver?
.925
Jane SmithModerator
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User ID: 1215902
United States
04/25/2011 07:02 PM

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Re: Help! How much for Sterling Silver?
.925
 Quoting: Anonymous Coward 1352955


^^^^^^^
What he said. Multiply the number of ounces it weighs by .925. That will give you the ounces you have in silver. The remainder is likely copper. Multiply the silver ounces by the spot price. That is the market value that day. The dealer will give you less than that amount because he must make a profit. Or you can sell it on EBAY.
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Danbouges
User ID: 32050352
United States
01/12/2013 03:32 PM
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Re: Help! How much for Sterling Silver?
Buddy... It's worth about 901 when this was posted, (it's worth $550 on 1-12-2013) they are giving you an EXCELLENT price. $700 on something worth $900 and you are complaining? Are they allowed to make any profit? Is that ok or does your highness deserve to be paid retail for your piece? Should the pawn shop pay you what it's worth, or even better, more than it's worth, and just lose out? Should they just pay their employee's , overhead and everything out of their own pockets so that YOU can get THE SAME FRICKIN VALUE THEY WOULD GET out of your bar? Also, BTW when dealing with bigger bars.... don't use "grains" that's for newbies buying bars less than a gram. Specify in grams or ounces please. I can't believe this guy.... this pawn shop is offering him $700 on something worth $900 retail and he's complaining.
Danbouges
User ID: 32050352
United States
01/12/2013 03:36 PM
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Re: Help! How much for Sterling Silver?
Remember... this is a 2011 post, I'm posting in 2013.... that silver is now worth $550 high retail. So any sensible pawn shop would offer you $300 MAX. That pawn shop you are dealing with is probably closed... because that $700 offer on a $900 piece is FAR too much. A real pawn shop would have offered $500. You aren't smart and you're greedy. Typical greedy person expecting high retail. People look at what people are asking on eBay, or what a RESELLER can get for it and expect to be paid that sum. WHEN YOU USE A RESELLER, IDK LIKE A FRICKIN PAWN SHOP, YOU HAVE TO BE UNDERSTAND THERE IS A COST OF BUSINESS THAT YOU MUST PAY. I swear man.....

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