Shops that advertise they are buying gold are usually Silver Buyers as well. These facilities are much more reputable and reliable than traveling buyers who are known for offering only a small percentage of what the metals are worth. By working with an established buyer, the seller will be able to feel more confident that they are getting the best price possible.
People who have never used these services may be concerned about how it is done. Here is what to expect. None of the silver buyers in Chicago area will be able to pay their customers the current full market price on any silver items. This is because they must resell the metal, either as a scrap material that will be melted down to make new items or the piece may be resold in their shop. Because they must make a profit, they will offer less than what the value of the silver happens to be, but this amount will usually be more than what could be expected from selling the item on its own to a private buyer.
Silver does not have to be in jewelry form to be sold. It can be silver coins, housewares, or bouillon. The amount the buyer will pay will be based on the weight of the metal, not on the value of the item. Because of this, every buyer should be cautious about selling antiques or designer-named jewelry. These items may have more value in their current form than their weight. It is necessary to research the items before taking them in for sale because the buyer may not know of its value to collectors or feel responsible to the seller to warn them before the sale.
Silver Buyers in Chicago will review each item to determine its value and offer a cash price. The seller can decide to accept the amount, sell part of the collection, or refuse and look for other options. When the price is acceptable, the seller will pay the agreed-upon amount instantly. Some shops also allow people to trade silver for store credit or use their items as collateral on a cash loan. This enables them to retrieve their items once the terms of the loan have been met.
