Your options for selling silver
There are five main routes for selling silver in the UK: postal specialist buyers, high street dealers and pawnbrokers, auction houses, eBay and private sale, and local scrap metal dealers. Each has different rates, timescales, and appropriate use cases.
Postal specialist buyers — best for most sellers
For sterling silver without exceptional antique value, postal buyers like InstaSilver consistently pay the most. We pay 80% of the live spot price — significantly above local dealers (typically 50–65%) and pawnbrokers (40–60%). The process is fast, tracked, signed-for, and requires no travel. Appropriate for: most silver — flatware, hollowware, coins, jewellery.
High street dealers and pawnbrokers
Convenient but typically pay 50–65% of spot. The immediate cash payment is sometimes cited as an advantage, but 24-hour postal payment eliminates this benefit. Appropriate for: small quantities when speed is more important than rate.
Auction houses
The best option for exceptional pieces — complete sets in pristine condition by prestigious makers, rare antique silver, or pieces with significant provenance. Auction carries seller's commission (typically 15–20%) and VAT, requires good photography, and takes weeks to months. Appropriate for: high-value, complete, exceptional condition pieces only.
Most Victorian and Edwardian silver sells below reserve at auction today. The antique market has softened significantly. For the majority of inherited or unwanted silver, scrap value exceeds auction estimate.
eBay and private sale
Can achieve good prices for individually desirable items but requires photography, listing, packaging, buyer communication, and carries returns risk. Appropriate for: named-pattern cutlery sets, complete boxed services, or pieces with strong collector appeal.
The benchmark test
Before selling anywhere, calculate 80% of today's spot price for your total silver weight. This is what you should receive as an absolute minimum from a reputable buyer. Any offer below this should raise questions.