These days many people are unaware of the treasures they have around the house that have been passed on from prior generations. Sterling silver has been used extensively in fine cookware, utensils, serving dishes, home decor and more. Often times these items are handed in to thrift stores without knowing what the true value is for those items.
Sometimes you’ll have staff at these thrift stores who are in charge of pricing items, and they don’t realize an item is Sterling silver. As a result, you very well may come across items marked 925 or Sterling that are marked at only a few dollars, but are worth anywhere from 5-20x that depending on the weight of the item.
Reselling for Profit
If your budget doesn’t allow for buying a lot of regular bullion, this may be a way you can supplement that budget. Those who do know the true value of these items will often spend anywhere from $1 per gram of weight or more. So a trip to the thrift store and a $3 Sterling cup could easily net you a profit of $20 or more selling to those who understand its true value.
Scrapping
Sometimes you’ll come across pieces that are too damaged to be desirable for use, but the silver content is still the same. Often times you can sell scrap silver and gold to refineries, who will issue you a check, less any fees they charge. Some refineries, like Prospector’s Gold and Gems, will also offer to refine the silver down for you and send you back poured bars in denominations of your choosing.
Ideal Options
If you’re simply looking to turn a profit, thrifting and selling or scrapping your finds is a great way to make some side money. If you’re wanting to add to your stack at a lower price, and you have a lot of silver to send in, it’s often worthwhile to have it refined into bars for you. Either way the costs are minimal, and half the fun is in discovering overlooked treasures at bargain prices.