Post updated: Sep 25, 2020
Pawnshops or jewelry stores have long and firmly won their place in the market for the purchase and resale of precious metals and products made from them.
In order not to make a mistake in choosing a buyer and to know approximately the price for 1 gram of silver, you need to understand the nuances of valuation and have an approximate idea of how much you can sell the silver to a pawnshop.
The cost of 1 gram of silver in pawn shops can vary over a wide range. On average it is 20-28 rubles per 1 gram. The price depends on the type of product, its size, brand, the presence of precious stones in the decoration, production technology and other factors. The appraiser will announce the price and the factors that influenced its formation.
The procedure for donating silver to pawn shops
Silver and silver products of any standard are accepted at pawnshops without unnecessary hassle and long waits for payment. The purchase procedure consists of the following stages:
- Buying silver from pawn shops begins with inspecting the silver product - whether there are any chips, cracks, what is the general condition of the product and appearance, etc. An expert with the owner checks the metal sample and determines how noble the metal fits the concept of “scrap”, which will be valued significantly lower than the original beautiful new jewelry.
- After the appraisal inspection, the buyer weighs the silver item offered for redemption. Weight, like fineness, plays an important role in determining the price. The more massive the silver item, the less money the owner can expect.
- After the assessment, the cost is called, and the money is paid to the owner immediately or within a few hours.
- The redemption after a certain number of days must be documented.
As a result, the cost of 1 gram of silver and the entire product will depend on the purity, weight, appearance and condition of the product, as well as on the conditions of the buyer himself, where the purchase and sale procedure takes place.
Silver Samovars.
If the owner plans to buy back his product after some time, the parties sign an agreement in which this clause is stipulated, and the owner is given a “pledge bulletin”, upon presentation of which, upon expiration of the period, the client takes his silver item back from the pawnshop. This will avoid resale of the silver to another person.
If the client was unable to redeem the silver on time, it becomes the property of the pawnshop. In this case, it will be sold freely to everyone. It will be possible to buy it at a higher price.
Tips for choosing silver jewelry
Silver jewelry is accessible to many, because today the price of 1 gram is quite affordable. When buying silver jewelry, everyone is guided by their own tastes and preferences.
Professionals from the fashion world advise:
- You shouldn’t immediately buy the thing you like, it’s better to think and make sure you make the right choice; you shouldn’t follow fashion, you should stick to your own style;
- Wearing gold and silver jewelry at the same time is not recommended.
What silver items can be sold at a pawnshop?
Pawnshops mainly consider options for cooperation that are beneficial to them, so they will try to value any precious silver jewelry or silver products as scrap metal. The following products are considered popular:
- Jewelry: rings, earrings, chains, bracelets, pendants and pendants;
- Silver plate;
- Coins.
A product will be considered scrap if it is broken, severely worn or bent. The buyer will not be able to resell such a product, only to give it for melting, and therefore the client is offered a ransom at a price for scrap, much lower than for a whole good silver product.
Recommendations for care, cleaning and storage
Products made from 875 silver alloy have a long service life and are practical. However, maintaining the attractive appearance of jewelry, tableware or accessories is possible only if a number of conditions are met:
- It is recommended to store silver jewelry in cases, and cutlery and dishes in parchment paper;
- to prevent items from turning black, avoid humidity (for example, do not wear jewelry when going to a bathhouse or sauna, or swimming in ponds);
- You can avoid deformation by removing jewelry during sports or active physical work;
- remove rings or bracelets when cleaning at home so as not to damage them with aggressive household chemicals.
Even if all storage and use rules are followed, silver items darken and lose their shine over time. You can restore the original appearance using improvised means and folk methods. The most effective is cleaning with a solution of ammonia and soap, baking soda, tooth powder or crushed chalk.
If homemade methods do not inspire confidence, you can use special care products or cleaning wipes, which can be purchased at retail outlets or online stores. Their price is usually low.
The cost of 1 gram of silver in a pawnshop
Selling silver and items made from it to a pawnshop involves selling it at a very low price. This noble metal itself is valued low on world markets, which is why silver is valued cheaply among buyers.
This chart shows quotes for 999 silver on world exchanges. Based on these figures, you can predict the approximate price for 1 gram in a pawnshop.
The price of silver per 1 gram on the chart is presented in US dollars per 1 ounce equal to 31.1034768 grams. That is, if 31 grams of silver costs 27 dollars today, then its price per 1 gram will be about 1 dollar, in rubles this amount will vary within 80.
The price of pure silver at a pawn shop will be approximately 30% lower.
A simple way to find out the cost of 1 gram of silver 750, 800, 875, 916, 925 and 999 is the usual formula:
it is necessary to use the discount price from the schedule of precious metal price rates of the Central Bank of Russia for the current date and multiply it by the corresponding coefficient equal to the fineness of silver: 0.75; 0.8; 0.875, etc.
The resulting value is the starting point in determining the price of the silver product that will be offered at the pawnshop.
Composition and characteristics of 875 metal
At one time, purer silver was used than is used today. But the properties of the metal did not allow its continued use for the production of jewelry, household and tableware. Additives were gradually introduced into the composition. This led to the emergence of a large number of alloys. One of them is 875 silver. The frequent use of this precious metal is due to its many positive qualities. After mixing silver and additives, the appearance of the finished products improves and their service life increases.
Ring vintage silver 875
Strength
Jewelry can be used for a long period. This is explained by its composition and properties. The content of a large amount of alloy increases the strength of the precious metal. It is important to control the amount of impurities so as not to reduce the value of the material in pursuit of hardness. Silver alloys (and the metal on which the standard is 87.5%) are inferior to stainless steel in strength, but their properties are sufficient to justify the manufacturer’s hopes for long-term use of jewelry and other items.
Fusibility
Silver is a soft metal (if we are talking about pure material). It is difficult to handle when producing various products, because under the influence of the slightest load the item loses its shape. The introduction of a ligature into the composition also improves the properties of the metal - it becomes more fusible. As a result, working with silver alloy becomes much easier. The products do not lose their shape and can withstand moderate loads. The main advantage of 875 silver is the ability to create jewelry and household accessories of different designs (including complex variations).
How much can you earn by handing over silver to a pawnshop?
Today, pawn shops accept silver at a low price. The price for silver from buyers depends not only on the purity of the metal, but also on how it will be sold in the future. For example, the price for 1 gram of silver jewelry or silverware in excellent condition is accepted at a higher value than scrap.
The formation of the price for 1 gram of silver for some buyers is influenced by artistic or historical value, which is not assessed by ordinary pawn shops, considering any silver item as scrap at the lowest cost.
As for the purity of the metal: the purer the silver, the higher its price will be. The most expensive is 925 sterling silver, where the percentage of impurities of other metals is minimal. For 1 gram of such silver, pawnshops are willing to pay about 30 rubles and even more.
Lowering the sample significantly lowers the price. Silver 800, 750, etc. samples will be assessed on a regressive (downward) scale by any expert in a pawnshop.
The price of silver or a product directly depends on world stock exchange quotes, and therefore changes daily. And you need to find out the approximate cost of your product directly at the pawnshop at the time of handing over the silver to the buyer, having previously calculated the price for 1 gram of silver of a certain standard in the online charts of exchange rates and precious metals.
Where to donate silver?
Many people have the opinion that they can only take their valuables to a pawnshop. A pawnshop is a place where you can evaluate and buy goods. But besides this, there are a number of institutions that accept silver as collateral.
- Specialized reception points . They are the most reliable place to donate jewelry, as they are time-tested. These locations employ real professionals who do not deceive clients.
- Jewelry stores . The advantage of this method is that you can exchange old jewelry for new ones by paying an additional amount.
- Jewelry workshops . They can be used to smelt a new product from scrap silver.
We calculate the approximate cost of the product
Before taking a silver item to a pawnshop, you can calculate its value at home and understand how much the silver will be accepted for.
Example: you need to sell a silver ring, the weight of which is 2 grams, and the purity of the ring is 925. A pawnshop, for example, offers a price for 1 gram of 925 silver - 30 rubles. Therefore, an amount of 60 rubles will be given to you. The appraiser will inspect the ring for any flaws. If the condition of the silver item satisfies him, he can buy the ring as an independent silver item, requiring documentary confirmation (certificate) from the client. If the buyer “doesn’t like” the ring, he will take it as scrap and pay the owner the minimum amount for which any pawn shop offers to buy scrap silver.
Various silver items for pawnshop.
An addition to the cost of the silver itself in the product based on its weight and fineness will be the presence of inserts of precious and semi-precious stones, which will significantly increase the final price of the silver item.
You can hand over a silver item to a pawnshop and get small but real money for it at any time.
Which pawnshop should I go to and not be deceived?
Fraudsters in the field of purchasing precious metals have many methods of deception in store for the careless client. In order not to fall into the clutches of a dishonest buyer, you need to know the evaluation criteria.
For example, deceivers often do not show scales to clients, stating the minimum weight of the product, which significantly reduces the cost. You should always demand an honest weighing from the buyer or weigh the product yourself elsewhere.
Viking silver
The second criterion: inflating the price of silver before its immediate evaluation. This method works well for beginners who are poorly versed in metal pricing. And after the assessment, the price drops sharply. The buyer cites many facts that lower the value of the silver product, thereby hiding the deception. After all, the average person cannot know exactly the price for 1 gram of his item. In this case, you need to know the world exchange price rate and the minimum price offered in other pawnshops. The announced price, below the market average, already indicates that the buyer wants to profit from the owner.
And the third criterion when the buyer is trying to deceive the client is the offer of payment for the silver after it has been melted down. During the melting process, a significant portion of silver disappears, the original mass is lost, and therefore the price for melted scrap will be much lower than previously announced. If a pawnshop insists on melting it down and then paying for it, this is a sign of dishonesty.
Knowing these facts, the owner of silver should not be afraid to go to a pawnshop to hand over silver and be confident in the fairness of the procedure for evaluating and purchasing and selling his product.
