Welcome back dear loyal readers of Financial Empires, always happy to find you here every day with us. In today’s article, we will talk about used silver prices 2022 and we will see how to understand the value of silver today.
How to recognize if it’s real silver?
Let’s now start to see how to understand the value of silver. Let’s start by saying that 100% pure silver differs from sterling silver, which is made up of an alloy of silver and copper, because it is much more flexible.
Although it should be emphasized that the first type of silver is so malleable that it does not allow any type of processing, and would not allow the creation of silver products, which give elegance and refinement to the rooms.
Types of silver
Based on current legal securities in the Italian territory, silver prices today can have the following compositions: 800/000 and 925/000.
Let’s go into specifics, 800/000 silver is made up of 800 parts of silver and 200 parts of copper.
While the 925/000 silver denomination is made up of 925 parts of silver and 75 of copper.
If the silver product is titled 1000/1000, we are in the presence of an object in pure silver.
Indeed, the 1000/1000 type punching is impressed when the object is plated in silver and therefore only coated with this material.
The silver is punched through the use of the punch, and serves to guarantee the percentage of pure silver present inside the product.
How do you evaluate silver items?
In addition to the hallmark, each silver object must have a brand, constructed from a five-pointed star followed by the initials of the province of origin and the serial number of the manufacturer.
Basically, the presence of the brand and the hallmark are the first things to consider when evaluating an object produced with this precious metal.
Obviously, if the object has no trademark, it can warn us, although in some countries the application of the silver trademark is not provided.
What are the characteristics of silver?
Now let’s see what are the useful techniques to understand if an object is in silver.
First of all, it must be remembered that silver is not magnetic, and if a magnet approaches it it will not stick, and in this case we could verify the purity of the product.
Another aspect to consider is that silver is the best conductor of heat and electricity.
Therefore, a technique to test the purity of silver is to put it on top of ice and if it is real silver, the ice will melt very quickly.
However, the thing that we advise you to do, in case of doubts, is to go to a trusted laboratory to test your silver objects.
Another key feature of silver is its luster, although it can blacken over time, another certificate of guarantee that it is real silver.
How much is the silver used today worth?
How much is the silver used per gram worth today? Good question!
Let’s start by saying that precious metals are one of the most important resources of recent decades, given the fluctuating financial conditions, the so-called safe-haven assets, which are the most stable resources on the various markets.
Read also: Gold Ingots Investment | Guide To Invest
In particular, safe haven assets have increasingly found feedback from investors.
Among other things, it is clearly visible from the rise in the price of gold as a consequence of an ever increasing demand for precious stones and metals, and also for silver, which until a few years ago was among the most accepted and important goods. among the most precious raw materials, just after gold.
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Now, however, the cost of buying and selling silver is lower, so it is much more present in areas such as engineering, electronics, dentistry and in numerous practical sectors.
For example, silver is essential for the creation of photovoltaic panels, mainly due to its excellent properties such as conductive ones.
In this period, about 60% of the silver production is used to manage the needs and the demand from the industries.
Where is it worth selling used silver?
Where to sell used silver? If you are asking yourself this question, it means that you have items to sell.
Now we will go to see where you can take your used silver and see how much used silver pay per gram.
There are several businesses that take back used silver, although not all of them guarantee the same treatment and the same silver prices.
For this reason, we will try to point you to the right places and where it is worthwhile to sell used silver today.
Where can silver be sold?
There are three realities where you can sell used silver:
- The first is the gold shop
- Then we find the metal counter
- And finally the jewelry
These businesses, obviously with all permits to buy and sell, are confidently able to buy used silver for cash.
To get a better silver evaluation, we suggest you go to a gold shop, or alternatively, to a metal counter.
But it must be borne in mind that those who intend to sell silver must consider the quantity they want to sell, because metal dealers tend to buy, mainly, large quantities of used silver, especially from individuals.
Used silver prices 2022. How much is used silver worth?
As for gold, the price of silver varies according to the purity in thousandths, the value indicates the parts of silver per thousand in the object.
Consequently, the most precious is 999 silver, then we find 925 silver, which is the most common and, finally, 800 silver.
Present value silver
Let’s now see what the current value of silver is.
👉 Let’s start with 999 silver, which is 590 euros per kilogram.
👉 We continue with the value of 925 silver, which is 545 euros / kg.
👉 While that of 800 silver stands at around 472 euros / kg.
Taking an average, we are around 54 cents per gram.
However, let’s consider that the value of silver is very fluctuating, given that in recent periods 999 silver has even reached a value of 770 euros / kg, and at this time it is practically at its lowest point considering the last few months.
For this reason, we recommend that you wait for better times to sell your used silver items.
Well dear friends of Financial Empires, thanks to our practical guide you have seen where you can go to sell your precious items and what are the 2022 used silver prices.
Financial Empires, The Editorial Staff
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