SilverRecyclers FAQ

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Does SilverRecyclers.com purchase gold or silver ?
Answer: SilverRecyclers.com is not a refiner or a dealer. We don't buy or sell precious metal of any kind. We simply provide precious metal weight conversion and melt value calculators as a free public resource.

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Where is the best place to sell my scrap gold or silver ?
Answer: You can usually get the best deal by sending your goods directly to a refiner. This refiner should have a long history of trusted performance with a good BBB rating, low refining fees and high customer satisfaction. Keep in mind that not all refiners deal directly with the public and some may have "minimum amount" or other restrictions. Take your time when looking for a refiner. The refining fees charged can vary greatly and things like payment options and timing, pool accounts (if needed), what spot price is used and when, assay fees (if any), shipping and others may need to be considered before deciding which refiner fits your needs. Another option is an auction site or classified ad site. Check eBay to see the recent completed auctions of a similar item and weight (You can do this even if you don't have an ebay account). If you take into account the metal price rise or fall since the auction completed, you can get a good idea of what to expect when selling your goods online. All of these options carry some associated risk, so please, do your research carefully when choosing the method you use to sell your scrap. It is probably best to stay away from TV or Hotel gold buyers since they usually do not offer the best deal.

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Is the "gross melt value" the price I should expect to be paid when selling my precious metal to a refiner or dealer ?
Answer: No. While the gross melt value displayed on the calculator is the value of the metal if it were melted, the parties making the purchase will need to make a profit. In the case of a refiner, they make a profit through refining fees. In the case of a coin shop, pawn shop or Hotel gold buyer, they act as a middle man to a refiner. They simply offer to buy your precious metal at a low enough price that hopefully still allows them to make money after paying the refining fees. Offers from middle man buyers usually come in at 50-60% of the gross melt value or less. This is why it is so important to know the value of your goods before making any deals. Remember, they still have to get the metal refined and gamble with the possible market drop or rise in the meantime, before they get paid.

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How much should I expect to be paid for my scrap gold jewelry ?
Answer: If you send your gold scrap directly to refiner: Depending on the refiner you choose and the amount you send, you could reasonably expect to receive 88-90% of the gross melt value shown on the calculator. Do some research to find a good refiner with a long and trusted track record and low refining fees. We can't provide any specific recommendations but there are several refiners around the U.S. and abroad that meet or exceed our stringent requirements and are happy to deal with the general public.

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How much should I expect to be paid for my scrap sterling silver ?
Answer: If you send your sterling silver scrap directly to refiner: Depending on the refiner you choose and the amount you send, you could reasonably expect to receive 85-90% of the gross melt value shown on the calculator. Again, do some research to find a good refiner with a long and trusted track record and low refining fees. We can't provide any specific reccomendations but there are several refiners around the U.S. and abroad that meet or exceed our stringent requirements and are happy to deal with the general public.

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What is the value of my complete (not scrap) sterling silverware set ?
Answer: Sorry, SilverRecyclers.com is unable to provide you with the value of your non scrap sterling silverware. We do not appraise Sterling Silverware Sets. Complete sets of sterling silver silverware usually warrant a much higher price then the scrap value provided by the calculators. Check with a professional appraiser if you can't find it's value on the internet or elsewhere.

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What does the term "Spot Price" mean ?
Answer: It's the current delivery price of a commodity traded in the spot market, in which goods are sold for cash and delivered immediately. The spot prices displayed on SilverRecyclers.com are per one troy ounce. The spot price is used by dealers to establish the mid point between buy and sell rates for bullion and coins. In the case of scrap gold or silver jewelry or sterling silverware, it can be used as a mutually agreed upon point, at which buying or selling will take place.

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How often are your currency exchange rates updated ?
Answer: The currency exchange rates are updated daily at 6:00 a.m. UTC (GMT)

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