Just like gold, the prices of many different metals are rising as the economy slows and some people are afraid to keep their money in dollars or other currencies. Silver is certainly one of the metals that is rising faster than maybe most people realize. Silver is never close to gold in price, but it is a lot more accessible because of the lower price and it is more common for people to have old silver coins, silverware, dishware, or rough nuggets stashed around their homes than gold pieces.
Just like stores that buy gold, there are shops that purchase silver from homeowners in the area and then combine it and have it melted down to get a reputable amount that they can then sell on a more specialized market. Of course as with all commodities, silver buyers in Columbus OH have to buy at a slightly discounted price compared to the “official price” of silver listed in the markets so that they can afford to have it melted down and pay for all of the labor involved and still afford to make a profit. That is basically the same way that all businesses function, paying a low price for their materials and then getting a high price for that same stuff that they then sell.
Unlike gold, silver is often sold in quite high percentage alloys, for example sterling silver which is often the metal used to make fine silverware is over 90% pure, so the amount of the precious metal in the item you might be selling is likely much higher than in a similar gold piece. Again, the silver buyers in Columbus OH will be able to calculate how much silver is in your piece based on the markings and formulas in understanding the different alloys. If you are interested in selling pieces to the silver buyers in Columbus OH, you should understand about how much silver is in your pieces, how that is calculated, and then about what the price of silver per ounce is. Then when you go in to the shop, you will have a very rough idea of about how much your piece is worth and then will be more comfortable with the price offered to you.
