What Is My Silver Worth?
The honest answer is: less than the number you see on the news, but more than most buyers will offer you. Here is how the math works so you can check any offer yourself.
Text Photos for a Quote Call (773) 490-9828
The best way to reach Mike is by text at (773) 490-9828. Send pictures and details about your items for an instant, no-obligation quote.
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Four Numbers That Set Your Price
| Factor | What it means | Where to check |
|---|---|---|
| Spot price | The market price for one troy ounce of pure silver, set daily | LBMA Silver Price (ICE Benchmark Administration) or any live bullion quote |
| Purity | Sterling is 92.5% silver. Coins dated 1964 and earlier are 90%. Bullion is 99.9% | The stamp on your item |
| Weight | Measured in troy ounces (31.1 grams). Weighted pieces count at 10% | Kitchen scale, or our scale in front of you |
| Buyer rate | The share of melt value a buyer pays. Ours is a sliding scale: at least 65% for flatware, up to 90% for coins and bars, and often above melt for designer and Navajo pieces | Ask every buyer for this number |
The Facts About Silver Value Others Won't Tell You
Small silver items are not worth as much as you might expect. A single sterling ring may weigh three grams, which is about a tenth of a troy ounce. Real silver does not automatically mean a lot of money. This may sound discouraging, but if you shop around you will see it is true. Most buyers will not explain this, but I prefer full disclosure to avoid surprises.
What Cook County Buyers Pays
Cook County Buyers pays on a sliding scale based on the type and resale potential of the silver:
- Sterling flatware: minimum 65% of melt/spot value (reflecting refining costs).
- Coins and bars (.999 or recognized pure silver): up to 90% of market value.
- Designer silver jewelry or vintage Navajo jewelry: can be substantially higher, often well above 100% of melt value, priced on current resale/collector demand rather than metal content alone.
Rates are item-specific, can increase with larger quantities or higher-demand pieces, and are confirmed after in-person testing and weighing. Text photos and details to Mike at (773) 490-9828 for an estimate. Learn more in What Is My Silver Worth?
Platinum is quoted item by item. The more information you send, the better. A clear photo of the hallmarks or maker's marks lets us give a tighter estimate.
My phone estimate is not a guarantee to buy. I need to visually inspect your silver, and I may decline to buy for any reason. Our meeting is not a binding contract on either side.
Worked Example
On October 16, 2026, spot silver was about $57 per troy ounce. One troy ounce of sterling contains 0.925 oz of pure silver, or about $52.73 in melt value at that price. At our 65% flatware minimum, that ounce pays you about $34.27. A pawn shop paying 40% would offer about $21.09. For a one-ounce .999 coin at our 90% ceiling, the payout would be about $51.30. Spot changes daily, so run the numbers with a live quote before you sell.
Frequently Asked Questions
What is a troy ounce?
A troy ounce is about 31.1 grams, a little heavier than the 28.35-gram ounce on a kitchen scale. Silver is always priced per troy ounce.
Is a single sterling ring worth selling?
Usually not on its own. A plain sterling ring weighs about three grams, roughly a tenth of a troy ounce. Gather a collection, or add it to a larger sale.
Does tarnish lower the price?
No. Tarnish is a surface layer that refining removes. Do not polish pieces before selling.
Next Step
Read about Chicago silver sellers' experiences, then call (773) 490-9828 or send the quote form today. Rather than let your silver sit in a drawer collecting dust, sell it to a local silver buyer for a fair price. For a longer walkthrough, read how to sell sterling silver in Chicago.
How we meet
Mike is available to meet days, evenings, and weekends. Please call (773) 490-9828 to schedule.
Cook County Buyers has a private office in Northbrook, IL, available by appointment only. Call, text, or send a description of your items through the quote form, and Mike will arrange a time to meet at the office. Or, if you prefer, Mike can meet you at a coffee shop or restaurant near you in Chicago or the suburbs.
Ready for a fair, no-pressure quote?
Text photos to (773) 490-9828 or contact Cook County Buyers.