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Wednesday, April 17, 2024

Get Over Financial Anxiety by Selling Silver You No Longer Want

There are plenty of reasons to be worried about your finances right now. The cost of everything has gone up, and once those prices rise, they rarely come back down. High inflation around the globe is stretching grocery budgets and causing pain at the pumps. Meanwhile, rising interest rates threaten the stability of mortgage payments, and some families could be faced with much higher costs than they anticipated. Altogether, it’s making some households wonder how they will make ends meet.

Bolstering your savings or starting an emergency fund can be a great way to ease that financial anxiety. When you have something to fall back on, you can breathe easier knowing that you’re not living paycheck to paycheck.

That said, it’s never been harder to set money aside in the current environment. You can jump-start your emergency fund by turning to belongings in your home that you no longer want or need.

Raise Money by Selling Silver

One of the most lucrative possessions you can sell right now is silver. This includes silver necklaces, rings, bracelets, and other types of jewellery, as well as silver flatware, silver tea sets, and silver coins.

Silver is a precious metal that’s traded as a commodity. It can work a little differently from selling used furniture, as there is often a going rate per ounce determined by market trading.

Where Should You Sell Silver?

The secret to earning the most you can is to find the right buyer. Usually, you’re going to get the best prices at a bullion dealer. These are businesses that buy all kinds of gold or silver, no matter what shape or purity it comes in.

You don’t have to visit inperson, either. When you sell your silver to Muzeum, a bullion dealer that also specializes in collectibles, coins, antiques, and designer jewellery, you have the option of getting a quote online and mailing it in.

Should You Clean Silver Before You Sell It?

Before they sell silver, many people believe that they should make it shine to make it more appealing to the buyer. It only makes sense that people wouldn’t be interested in tarnished silver, right?

However, it highly depends on what exactly you’re selling. There are some cases where it makes sense to clean it, some cases where it may not matter one way or another, and some cases where you absolutely should not clean your silver.

  • Cleaning tarnished silverware can help if you are selling to an individual buyer who may want to see its shine and brilliance before being convinced that they want to buy it.
  • If you’re selling silver flatware or tea sets to a bullion buyer, it largely does not make a difference unless they are vintage or antique.
  • Do not clean vintage or antique silver or silver coins, as you could wind up ruining their condition or value.

This is also something to keep in mind if you’re cleaning jewellery for personal use. The safest way to do it is to wash jewellery with warm water and a gentle dish soap, pat it dry with a cotton towel and return it to storage where it’s away from both air and sunlight.

Start your emergency fund today with the help of unused or unwanted jewellery.

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