To get the best price for silver in the UK, work out the metal value yourself first: weight × purity × the silver price per gram, then judge every offer as a percentage of that number. Sterling is worth £— per gram in metal today. Postal specialists generally pay the highest percentage; auction is better only for exceptional antique pieces. The rate is only half the story: what a buyer deducts afterwards is the other half.
Start with the benchmark
Before you contact anybody, calculate what your silver is actually worth as metal. It takes a minute and it changes every conversation that follows.
Weight in grams × purity × silver price per gram = metal value.
At today's spot price of £— per gram, 500g of sterling works out at 500 × 0.925 × £— = £—. That is the number every offer should be measured against. An offer of 60% and an offer of "£350" are impossible to compare until both are expressed as a share of the metal value, and once they are, the comparison is usually obvious.
Our live calculator does this for any weight and purity, and it shows the spot price it used, so you can check the working.
The five routes compared
| Route | Typical share of metal value | Speed | Effort | Best for |
|---|---|---|---|---|
| Postal specialist | Highest of the routes here | 2-4 days | Low | Most sterling: flatware, hollowware, jewellery, coins |
| High street dealer | Well below a specialist rate | Same day | Low, but you travel | Small amounts where immediacy outweighs price |
| Pawnbroker | Lowest of the routes here | Same day | Low, but you travel | Short-term loans against silver, not outright sale |
| Auction house | Can far exceed metal value, or fail to sell | 6-16 weeks | Moderate | Georgian, named makers, provenance, complete cased sets |
| eBay / private sale | Variable; strong for collectable patterns | Days to months | High | Named-pattern flatware, boxed services, collector appeal |
General characteristics of each route rather than quoted rates from any named business. Rates vary by buyer and by day: always ask for the percentage of spot in writing.
Postal specialists
For ordinary sterling without exceptional antique interest, specialist postal buyers pay the most. The reason is structural rather than generous: a silver-only operation running a direct-to-melt process has lower overheads per gram than a high-street shop paying rent on a display window, and no auction commission structure to feed. We pay a flat 80% of live spot, publish the rate, and apply it to every purity and every quantity.
High street dealers and pawnbrokers
The advantage is immediacy, you walk out with cash. The cost of that convenience is a materially lower percentage, because the shop is carrying premises costs and usually isn't a silver specialist. Pawnbrokers price for a loan book rather than an outright purchase, and their buying rates reflect that. Worth it if you need money today; expensive otherwise, particularly now that postal payment lands within 48 hours of receipt.
Auction houses
The right answer for genuinely exceptional silver, and the wrong one for everything else. Auction can multiply metal value for Georgian work, prestigious makers, fine design periods or pieces with provenance. But seller's commission typically runs 15-20% plus VAT, with lotting, photography, insurance and unsold fees on top, and the process takes months with no guarantee of a sale. Ordinary Victorian and Edwardian domestic silver frequently fails to reach reserve.
eBay and private sale
Can beat everything for the right item, a complete named-pattern canteen, a boxed christening set, anything with collector demand. It also demands photography, listing, questions, packing, and exposure to non-payment and returns, and platform fees take a cut. Poor fit for mixed scrap; good fit for one desirable thing.
The deductions that quietly eat a headline rate
A high advertised percentage means nothing if it's applied to a reduced base or trimmed afterwards. These are the mechanisms to ask about explicitly, in writing, before you post anything:
- Which purity the rate applies to. A rate quoted against fine silver looks far better than the same rate against sterling. Ask what the rate pays per gram of 925.
- Assay or testing fees charged per item or per lot.
- Refining charges deducted after the fact, sometimes as a percentage, sometimes as a flat fee.
- Handling or administration fees: which have no fixed meaning and can be any number.
- Minimum lot charges that make small parcels uneconomic.
- Postage and insurance deducted from your payment rather than absorbed.
- Return postage if you decline the offer. This should always be free, and if it isn't, you're paying to get your own property back.
- Weight rounding. Rounding down to the nearest 10g on a small parcel is a real deduction.
- When the rate is set. A quote given today but priced whenever the buyer processes your parcel isn't a quote at all: it's an estimate you can't hold them to.
Our position on all nine
Flat 80% of live spot on every purity and every quantity. No assay fee, no refining charge, no handling fee, no minimum lot fee. Free tracked postage in, free insured return if you decline. Weight paid to the gram. The rate is locked when you accept and held for 48 hours: if silver falls in transit, that's our loss, not yours.
The like-for-like checklist
Five questions. If a buyer won't answer any of them before your silver is in their building, that is your answer.
- What percentage of live spot do you pay for sterling, specifically?
- What is deducted after that, testing, refining, handling, postage, minimums?
- When is the rate fixed: at quote, or at processing?
- If I decline the offer, what does it cost me to get my items back?
- How is the metal tested, and will I see the tested weight and purity?
Red flags
- No published rate. "Send it in and we'll make you an offer" removes your ability to compare before committing.
- Pressure to accept quickly once your items have arrived, particularly by phone.
- Melting before you've agreed a price. Nothing should be irreversible until you've accepted.
- Charging for returns, which turns declining into a penalty.
- Vague testing. You should be told the measured purity and weight, not a conclusion.
- No verifiable business identity: company number, registered address, real premises.
Practical ways to get more
- Sort plate out first. Knowing what's actually solid silver stops a disappointing recalculation later.
- Send everything at once. One parcel of 800g beats three of 250g on effort, and with no minimum lot fees there's nothing to lose by combining.
- Don't polish. It removes metal and wears hallmarks. Tarnish costs you nothing.
- Include the awkward items. Broken chains, single earrings, bent forks, dented mugs, the tray at the back of the cupboard: all paid at the same rate per gram.
- Weigh knives separately. Filled handles hold far less silver than their gross weight suggests; separating them keeps your quote realistic.
- Check the exceptional pieces first. If something might be Georgian or by a known maker, get a valuation before it goes anywhere near a melt.
- Watch the exchange rate, not just the metal. Silver is priced in dollars, so a weak pound lifts the UK price even on a flat market day.
A worked comparison
Say you have 800g of sterling flatware. The metal value is £—. At our flat 80% that pays £—, with nothing deducted and free postage both ways.
The same parcel at a nominal 70% rate would look like a reasonable second option: until you subtract a £15 testing fee, £8 postage and a 5% refining charge, at which point the effective rate is well under 65%. Run every offer through to the number that actually lands in your account. That figure, not the headline percentage, is the one to compare.
Frequently asked questions
Who pays the best price for silver in the UK?
For ordinary sterling, specialist postal buyers generally pay the highest percentage of spot, because a silver-only melt operation carries lower costs per gram than a high-street shop or an auction house. InstaSilver pays a flat 80% of live spot with no deductions. For Georgian silver, prestigious makers or pieces with provenance, an auction house may beat metal value considerably.
How do I know if a silver offer is fair?
Calculate the metal value first, weight × purity × spot per gram, then express the offer as a percentage of it. 500g of sterling is worth £— in metal today. Any offer is simply a share of that, and once you have the percentage the comparison is straightforward.
Should I sell my silver at auction instead?
Only if it's exceptional: Georgian or earlier, a major maker, a notable design period, documented provenance, or a complete cased service. Auction commission typically runs 15-20% plus fees and takes months, and ordinary Victorian and Edwardian silver often fails to reach reserve. For most inherited silver, metal value meets or beats the auction outcome.
Is it worth selling silver to a pawnbroker?
Rarely for an outright sale. Pawnbrokers price primarily for lending against goods, so their buying rates sit at the bottom of the market. The only real advantage is same-day cash, which matters less now that postal payment arrives within 48 hours of receipt.
What hidden fees do silver buyers charge?
The common ones are assay or testing fees, refining charges, handling or administration fees, minimum lot charges, deducted postage, paid returns if you decline, and rounding weight down. Ask for all of them in writing before posting. We charge none of them.
Does the silver price change while my parcel is in the post?
The market does, but your price shouldn't. We lock your rate for 48 hours when you accept: post within that window and we pay the locked rate whatever silver does in transit. Only the physical metal is verified on arrival, never the price. Any buyer who prices on the day they open the box is passing market risk to you.
Do I get more for a larger quantity of silver?
Not with us, and we think that's fairer. The rate is flat regardless of weight, so a single spoon over the £50 minimum earns the same percentage as five kilos. Buyers who use volume tiers are usually paying below the flat rate at the lower tiers.