Silver Price & Valuation Guide (UK)

What Affects Silver Prices in the UK?

The price of silver in the UK is influenced by several factors, from global commodity markets to the specific characteristics of your individual items. Whether you're looking to sell scrap silver, sterling silver, or antique silver, understanding these factors will help you make informed decisions.

Silver prices fluctuate daily based on the international spot price, which is set by commodity exchanges worldwide. However, the actual value you receive for your silver depends on much more than just the current spot price—purity, condition, craftsmanship, and historical significance all play important roles.

Silver Price Today in the UK

When people ask "how much is silver worth today?", they're typically referring to the spot price—the current market price for immediate delivery of pure silver. This price is quoted internationally in US dollars per troy ounce and is converted to pounds per gram for UK transactions.

Spot Price vs Real-World Selling Price

It's important to understand that the silver price per gram UK you see quoted on financial websites represents the theoretical value of 100% pure silver. In practice, the price you receive when selling silver will differ for several reasons:

• Purity variations: Most silver items are not 100% pure. Sterling silver is 92.5% silver, while other alloys may contain even less.
• Refining costs: Scrap silver must be refined to extract pure silver, which incurs processing costs.
• Dealer margins: Buyers need to cover operational costs and maintain profitability.
• Market conditions: Local supply and demand can affect the prices dealers offer.

Scrap Silver Prices Explained

Scrap silver refers to silver items that are valued primarily for their metal content rather than their form or craftsmanship. Understanding scrap silver value is essential if you're looking to sell damaged, broken, or unwanted silver items.

What Counts as Scrap Silver?

Items typically sold as scrap silver include:

• Damaged or broken silver jewellery
• Worn or incomplete flatware sets
• Dented or damaged silver holloware
• Silver items with missing parts
• Heavily tarnished pieces beyond restoration
• Single earrings or broken chains
• Silver dental fillings and other industrial silver

How Scrap Silver Is Valued

The value of scrap silver is calculated using a straightforward formula:

1. Weight: The item is weighed in grams or troy ounces
2. Purity: The silver content is determined (e.g., 92.5% for sterling)
3. Current price: The spot price is applied to calculate the pure silver value
4. Percentage offered: Dealers typically offer 70-90% of the calculated value

Sterling Silver (925) Value

Sterling silver, marked as 925, contains 92.5% pure silver alloyed with 7.5% other metals (usually copper) for durability. Understanding sterling silver value is important because it represents the most common form of silver in household items and jewellery.

What Is Sterling Silver?

Sterling silver has been the standard for quality silver goods in Britain since the 12th century. The 925 hallmark indicates that the item contains at least 92.5% pure silver by weight. This alloy provides an excellent balance between the beautiful appearance of silver and the practical durability needed for everyday items.

Why Sterling Silver Can Be Worth More Than Scrap

While some sterling silver items are sold as scrap, many are worth considerably more due to:

• Maker's marks: Items by renowned silversmiths command premium prices
• Age and rarity: Antique pieces may have collectible value
• Condition: Well-preserved items retain more value
• Craftsmanship: Intricate designs and quality workmanship add value
• Complete sets: Full flatware or tea sets are more desirable

Common Sterling Silver Items

Antique Silver vs Scrap Silver

One of the most important distinctions in silver valuation is whether an item should be sold as antique silver (valued for its collectible worth) or as scrap silver (valued only for its metal content). Getting this wrong can mean losing significant value.

When Silver Is Collectible

Silver items may command prices well above their scrap value when they possess:

• Historical significance: Items connected to notable events, people, or periods
• Prestigious makers: Pieces by renowned silversmiths like Paul Storr, Hester Bateman, or Georg Jensen
• Exceptional craftsmanship: Intricate hand-worked designs and superior quality
• Rarity: Unusual forms, limited production, or scarce patterns
• Complete provenance: Documented ownership history adds value
• Excellent condition: Original finish without damage or excessive wear

When Silver Is Best Sold as Scrap

Some silver items are better sold for their metal content:

• Heavily damaged pieces beyond economical repair
• Mass-produced items with no collectible interest
• Incomplete sets missing key pieces
• Items with no maker's marks or hallmarks
• Modern silver with little craftsmanship value

How Silver Is Valued

Professional silver valuation considers multiple factors to arrive at a fair price. Understanding this process helps you know what to expect and ensures you receive appropriate value for your items.

How to Get a Professional Silver Valuation

Getting a professional valuation is the first step to understanding what your silver is worth. A reputable dealer will provide a transparent, no-obligation assessment of your items.

The Valuation Process

1. Initial contact: Describe your items or submit photographs for a preliminary assessment
2. Physical examination: The dealer inspects your silver, checking hallmarks, weight, and condition
3. Research: Collectible items may require additional research into maker, pattern, and comparable sales
4. Valuation: You receive a clear explanation of how the value was determined
5. Offer: If selling, you'll receive a firm offer with no obligation to accept

What to Expect from a Reputable Dealer

• Transparency: Clear explanation of how values are calculated
• No pressure: Genuine dealers don't use high-pressure sales tactics
• Written offers: Formal quotes you can consider at your leisure
• Expert knowledge: Ability to identify valuable pieces and provide accurate assessments
• Fair prices: Competitive offers reflecting current market conditions