British Gold Exchange · Est. 1985 · London

Silver seller guide

The silver spot price is live and public. Here is how much of it you will receive

No buyer pays 100% of spot. Knowing the percentage a buyer offers, and why, tells you straight away whether an offer is fair.

Silver price estimator

Based on today's live spot price

Estimated market value

£—

Based on the live spot price. Your actual offer depends on condition and purity.

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The short answer

You will receive up to 99% of spot, depending on the item, with the rest covering the buyer's costs

The silver spot price is the global market price for one troy ounce of .999 fine silver. It moves continuously while the commodities markets are open and is freely available online. Your silver is worth a share of that price, set by how much pure silver it actually contains: its weight multiplied by its purity.

No buyer pays 100% of spot. The difference between spot and what you are paid covers the buyer's testing costs, refining fees, overheads and margin, and a transparent specialist buyer will publish their rate. At British Gold Exchange, we pay up to 99% of the live spot price, depending on the item.

The number to focus on is the percentage of spot. A buyer who offers a flat £X per gram without saying what percentage of spot that represents makes it impossible for you to judge the offer. You can work it out yourself: divide their offer per gram by the current spot price per gram and multiply by 100.

What affects it

What affects the amount you receive

PuritySterling silver is 92.5% pure (925 fineness). Fine silver is 99.9%. Coin silver ranges from 50% (1920–1946 UK coins) to 92.5% (pre-1920 UK coins). Each purity gives a different melt value.
Spot priceSilver spot prices change by the hour. A 10% move in spot, which is common over a few months, changes your total by the same proportion. Check the price on the day you compare offers.
Buyer's rateThe percentage of spot a buyer pays varies considerably by item type and by buyer. Specialist online buyers usually pay more than pawn shops or high street jewellers because their overheads are lower.
WeightMeasured to 0.01g. A 200g set of sterling cutlery contains 185g of pure silver. Multiply that by the live spot price per gram to find its silver content value before the buyer's rate is applied; our silver calculator does this for you.
Refining costJewellery and silverware must be melted and refined before the silver can be reused. Bullion bars can be resold without refining, so they avoid this cost, which is why bullion attracts a higher rate.
Item typeWe pay up to 99% of spot. Purer, more liquid forms such as bullion bars and coins need no refining, so they sit closer to the top of our range than jewellery and silverware. We do not buy silver-plated items.

Why British Gold Exchange

40+

Years in the precious metals business

£0

Cost to request your free insured postal pack

24h

To receive your firm, itemised offer once your items arrive

100%

Of items returned free if you decline

How it works

From first contact to payment

01

Request your free pack

We dispatch your free pack the next working day, with a prepaid Royal Mail Special Delivery label. There is no cost and no commitment.

02

Send your items

Pack your items in the packaging we supply and hand them in at a Post Office. They are insured up to £2,500 from then until they reach us. For items worth more, please contact us first.

03

Receive your offer

A firm, itemised offer arrives within 24 hours of your items reaching us. Every piece is weighed and XRF-tested for purity, then priced against the live silver spot price.

04

Get paid

If you accept before 3pm on a working day, you receive a same-day bank transfer. If you decline, we return every item free of charge, with no questions asked.

Common questions

Questions we hear most

How do I find today's silver spot price?

Search for 'silver price per gram' or 'silver spot price GBP'. The LBMA publishes an official daily benchmark price, and our own metal prices page shows live values.

Why is the spot price in troy ounces but buyers quote per gram?

The global spot price is quoted per troy ounce (31.1035g). Divide the troy ounce price by 31.1035 to get the price per gram. Most UK buyers quote per gram because it is more practical for jewellery weights.

My silverware doesn't have a hallmark. Does that affect the rate?

Unmarked items are XRF-tested to confirm their purity. If a piece is confirmed as sterling (92.5%), the same rate applies. If it turns out to be silver-plated, it has no silver value; we do not buy plated items and will return it.

What percentage of spot will I get for a full canteen of silver cutlery?

We pay up to 99% of the live spot price for the silver content of sterling cutlery. A full canteen can contain 1–2kg of sterling, and our silver calculator shows its value at today's live price.

Is silver bullion (bars and coins) a better sale than silverware?

Per gram of silver content, bullion usually pays better than silverware, because it needs no refining and is easier to resell. If your silverware is hallmarked and in good condition, though, it is worth checking whether it has any collector value above melt.

Get started

Find out exactly what your silver is worth at today's spot price

Request your free insured pack, send your items and receive a firm, itemised offer within 24 hours of their arrival, based on live silver prices and XRF-tested purity.

0800 014 8323