Silver melt value formula
Silver melt value is the amount of pure silver in an item multiplied by the spot price. Because spot silver is quoted per troy ounce, the calculator converts your weight to troy ounces first.
Silver melt value = weight (ozt) × silver purity × silver spot price
Example: a 100 gram sterling silver bracelet weighs 100 ÷ 31.1035 = 3.215 ozt. At 92.5% purity it contains 2.974 ozt of pure silver. If silver were $50 per ounce, its melt value would be about $148.70. At a 75% payout, a dealer might offer around $111.50.
Common silver purities
| Type | Stamp | Silver content | Where you find it |
|---|---|---|---|
| Fine silver | 999, .999 | 99.9% | Bullion bars, rounds, some jewelry |
| Britannia silver | 958 | 95.8% | British silverware, Britannia coins |
| Sterling silver | 925, STERLING | 92.5% | Jewelry, flatware, tea sets |
| Coin silver | 900, COIN | 90% | Pre-1965 US coins, old American spoons |
| Continental silver | 800, 835 | 80–83.5% | European flatware and older coins |
| 40% silver | 400 | 40% | 1965–1970 Kennedy half dollars |
For more detail see the sterling silver scrap value page and the coin silver calculator.
What counts as scrap silver?
Scrap silver is any solid silver that will be valued for its metal rather than as a collectible or wearable piece. Typical examples include broken chains and earrings, single earrings, worn rings, sterling flatware, napkin rings, tarnished trophies, old pre-1965 coins in poor condition and offcuts from silversmithing.
Some items are sold as silver but contain little or none. Silver plate (stamped EP, EPNS, Sheffield plate, Quadruple Plate or with a maker's name only) is a thin layer over copper or nickel. Weighted sterling such as candlesticks and some bowls has a thin sterling shell filled with cement or pitch, so only a fraction of its weight is silver. Nickel silver and German silver contain no silver at all.
Tips to get a better price for scrap silver
- Weigh everything yourself on a gram scale and sort it by purity before you go in.
- Know today's spot price. It moves every minute while markets are open.
- Ask each buyer what percentage of melt they pay, not just a dollar figure.
- Larger lots usually get a better percentage than a handful of small pieces.
- Check whether anything is collectible before scrapping it. Designer jewelry, antique flatware patterns and rare coins can be worth more than melt.
Frequently asked questions
How much is scrap silver worth per gram?
Divide the silver spot price per troy ounce by 31.1035 to get the price per gram of pure silver, then multiply by the purity. Sterling silver is worth 92.5% of that figure per gram at melt. The calculator shows the live per-gram price under the spot price.
How much do dealers pay for scrap silver?
Payouts vary widely by buyer. For scrap silver, offers often fall around 60% to 85% of melt value, while bullion-grade bars and junk silver coins usually get a higher percentage. Get several quotes.
How can I tell if something is real silver?
Look for a hallmark such as 925, STERLING, 900 or 800. Real silver is not magnetic, so a strong pull from a magnet is a bad sign. Tarnish alone proves nothing. Dealers use acid tests or an XRF analyzer to confirm purity.
Is silver plate worth scrapping?
Usually not for its metal. Silver plate has only a microscopic layer of silver, so its scrap value is close to zero. Some antique plated pieces have resale value as decor instead.
Why is my offer lower than the melt value?
A buyer has to test, ship and refine the metal, and refiners charge fees and lose a small amount in processing. The difference between melt value and the offer covers those costs and the buyer's margin.