How to Calculate the Value of Your Scrap Silver (2026 Guide)

Silver has entered uncharted territory. After hitting an all-time nominal high of $121.67 per troy ounce on January 29, 2026, the metal has settled in the mid-$80s — still roughly triple its price from early 2024. That sterling silver flatware set your grandmother left you? It might be worth significantly more than the table it's sitting on.

Calculating scrap silver value follows the same logic as gold, but silver's wider range of purities and item types — from coins to flatware to electronics — adds wrinkles that trip up first-time sellers.

The scrap silver formula

Scrap Silver Value = Weight (troy oz) × Purity (decimal) × Spot Price per troy oz

If you're weighing in grams:

Scrap Silver Value = Weight (grams) × Purity (decimal) × (Spot Price ÷ 31.1035)

As of early March 2026, silver trades around $85 per troy ounce.

Know your purity — sterling, coin, and fine silver

Unlike gold's karat system, silver purity is expressed as a decimal fineness:

Type	Purity	Stamp/Mark	Common Items
Fine Silver	.999	.999	Bullion bars, American Silver Eagles
Britannia	.958	958	British coins
Sterling	.925	925, STERLING	Flatware, jewelry, tea sets
Coin Silver	.900	900	Pre-1965 US dimes, quarters, halves
European	.800	800	European jewelry and decorative pieces
40% Silver	.400	—	1965–1970 Kennedy half dollars

Sterling silver (.925) is the most common type of scrap silver encountered by everyday sellers. If you see "925" stamped on flatware, jewelry, or decorative items, you're holding sterling.

Worked example: a sterling silver flatware set

You have 12 sterling silver forks weighing a total of 720 grams. Spot price is $85/oz.

1. Determine pure silver content: 720g × 0.925 = 666g of pure silver
2. Convert to troy ounces: 666 ÷ 31.1035 = 21.41 troy oz
3. Calculate melt value: 21.41 × $85 = $1,819.85

A reputable dealer paying 85% would offer roughly $1,546. At a pawn shop offering 65%, you'd receive about $1,183 — a $363 difference that makes shopping around essential.

Pre-1965 US coins: the other major scrap silver source

Millions of Americans have inherited pre-1965 US silver coins — dimes, quarters, and half dollars minted before 1965 contain 90% silver. These are commonly called "junk silver," though there's nothing junk about their value.

At $85/oz spot:

• A pre-1965 quarter contains ~0.1808 troy oz → worth ~$15.37
• A pre-1965 dime contains ~0.0723 troy oz → worth ~$6.15
• $1 face value of pre-1965 coins contains ~0.715 troy oz → worth ~$60.78

What scrap silver buyers pay

Buyer Type	Typical Payout (% of melt)
Professional refineries	90–96%
Online dealers (APMEX, JM Bullion)	85–95%
Local coin/jewelry dealers	80–90%
Pawn shops	60–80%

Why timing matters more than ever

The Silver Institute reports the silver market is running its fifth consecutive annual supply deficit, with industrial demand from solar panels, electric vehicles, and AI data center infrastructure hitting record levels. Bar and coin investment demand is forecast to rise 20% in 2026. This structural deficit means silver prices are supported by fundamentals, not just speculation.

Sources

• JM Bullion, Silver Price Charts: jmbullion.com/charts/silver-prices/
• The Silver Institute, 2025 Market Deficit Report: silverinstitute.org
• APMEX, Sterling Silver Scrap Calculator: learn.apmex.com