Investing in scrap silver is a boss way of generating money in these hard times. There is a straightforward calculation you should work by to make sure you always earn money. (In a nut-shell, it is this: you must pay less for the silver when you buy, than you expect to sell it for. This necessitates discovering the current silver price before you leave your house on a buying trip. My favorite method is a google search. You are not going to be paid a lot more than 75 percent of the price that is quoted online. This is because whoever you sell to will need to make money too.
You can find scrap silver in many forms, including medals and coins, jewelry, and household items such as salt and pepper sets, sugar bowls and serviette-holders. You should be going around yard sales, flea markets and junk stores. Be experimental in your hunt for cheap silver. Because you are not paying the top price for silver, you must go to people who are unaware of current rates. So there's no point approaching antique dealers, trade auction houses or jewellery shops. My blog, ScrapSilverScrapGold.com - link at the base of this article - gives plenty more help on this.
To buy silver scrap easily; there are 2 products you will definitely need to carry with you. The first is a pair of accurate weighing scales. The 2nd item is a metal testing kit. You can get both products online from sellers like Amazon for something like fifty dollars each. If you don't have a test kit, you can cope by holding a roll of aluminium cooking foil with you. A fast and uncomplicated means to find out if an item is silver is to spit on it. Then rapidly wrap it firmly in cooking foil for 10-20 seconds. Open the foil up. If the aroma is terrible, like rotten eggs, then the item is silver. This will not harm the product in any way.
The easy way to tell whether an item is silver or silver-plated is by looking for a hallmark or stamped number on the product itself. The number .925 will confirm that the item is 92.5% silver. Various kinds of silver have less precious metal in them. The likes of unmarked silver may be 74% or less. A plate silver piece is made from a different metal with a thin layer of silver on the surface and is invariably marked EP.
You have to be ultra careful buying and extra careful when selling. Scammers abound in the precious metal business. You have to try and give the impression that you know what you are doing. This means you have to do plenty of research. A good source of information is my Scrap Silver Scrap Gold blog. Simply click on the link in the following paragraph.
You can find scrap silver in many forms, including medals and coins, jewelry, and household items such as salt and pepper sets, sugar bowls and serviette-holders. You should be going around yard sales, flea markets and junk stores. Be experimental in your hunt for cheap silver. Because you are not paying the top price for silver, you must go to people who are unaware of current rates. So there's no point approaching antique dealers, trade auction houses or jewellery shops. My blog, ScrapSilverScrapGold.com - link at the base of this article - gives plenty more help on this.
To buy silver scrap easily; there are 2 products you will definitely need to carry with you. The first is a pair of accurate weighing scales. The 2nd item is a metal testing kit. You can get both products online from sellers like Amazon for something like fifty dollars each. If you don't have a test kit, you can cope by holding a roll of aluminium cooking foil with you. A fast and uncomplicated means to find out if an item is silver is to spit on it. Then rapidly wrap it firmly in cooking foil for 10-20 seconds. Open the foil up. If the aroma is terrible, like rotten eggs, then the item is silver. This will not harm the product in any way.
The easy way to tell whether an item is silver or silver-plated is by looking for a hallmark or stamped number on the product itself. The number .925 will confirm that the item is 92.5% silver. Various kinds of silver have less precious metal in them. The likes of unmarked silver may be 74% or less. A plate silver piece is made from a different metal with a thin layer of silver on the surface and is invariably marked EP.
You have to be ultra careful buying and extra careful when selling. Scammers abound in the precious metal business. You have to try and give the impression that you know what you are doing. This means you have to do plenty of research. A good source of information is my Scrap Silver Scrap Gold blog. Simply click on the link in the following paragraph.
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