Silver value: how to determine?
Before selling silver —whether in the form of jewelry, coins, decorative pieces, utensils, or any other item—it's important that you understand a set of essential information about this precious metal.
- Silver Purity: The value of silver is calculated based on the percentage of silver in the piece, which determines its purity. The type of silver most commonly used in jewelry and goldsmithing is known as "sterling silver," which is 925 silver. The higher the silver percentage, the more valuable the piece, as its purity increases.
- Silver price: Silver is listed on the stock exchange, so its price is not fixed and can fluctuate daily. To value a silver piece, the average price on the day of the appraisal is assumed.
- Assay marks: This mark guarantees the quality of the silver alloy. For silver pieces, the mark corresponds to an eagle's head facing left for silver greater than or equal to 925, or facing right for silver content equal to or less than 835 thousandths.
- Rarity of the piece and historical interest: Antique, rare pieces or those with potential historical interest have greater market value, provided they are accompanied by documentation proving their origin.
- Condition: Silver pieces are highly susceptible to storage conditions and the passage of time. If the pieces are heavily marked and in poor condition, this will affect their value.
