Find the Best Silver Jewelry Buyer So You Don't Sell for Just Scrap Value

ALBUQUERQUE, N.M., Jan 27, 2012 (BUSINESS WIRE) -- Most have heard that gold prices have soared and "cash for gold" businesses are busy with customers selling their treasures. What many are not aware of is that silver prices have also skyrocketed.

Indeed, silver traded at just $8 per troy ounce in 2004. In 2011 it topped $48/oz, but has since hovered in the $30-$34 range.

So why don't we see "cash for silver" signs and advertising as we do with gold? One of Albuquerque's leading gold and silver exchanges, National Jewelry Buyers, shares an insider's perspective on the subject.

"Businesses follow the money trail," explains Sheda Salem, a co-owner of National Jewelry Buyers. "Gold is worth about 50 times that of silver, so it is simply more worthwhile. For example, a $20 silver bracelet would be worth about $1,000 if it was gold." "What separates us from most competitors is the fact we don't view all silver jewelry as merely 'scrap' that must be melted. That makes a big difference in how your silver will be valued," says Salem. "If we must melt the piece, then we will at least pay a very high scrap price." Salem offers a list of the best silver items to sell: Coins & Bullion. These are bought and sold primarily for their silver content, so there is little to lose in terms of craftsmanship or gemstones that are associated with jewelry.

Indian or Native American Jewelry. "We love Southwestern silver jewelry with turquoise and coral, like squash blossom necklaces, concho belts and almost anything else. We resell the pieces to jewelry stores in Gallup and Santa Fe, and therefore can pay considerably more than just melt or scrap value," cites Salem. "Do NOT polish your Native America jewelry since it might take away from the vintage value. The older the better." Sterling Silverware & Flatware. They are heavy and add up quickly, fetching $1,000 to $3,000 a set. "I love the reactions on my customers' faces when I tell them their badly tarnished spoons and forks are worth $1,500," laughs Salem. An important note she stresses: "They must be stamped 'Sterling.' Markings like 'International Silver, Oneida Silver, Silver Plate, Silver Soldered' or other hallmarks usually means they are just silver plated and have little true silver content.

Damaged Jewelry. "What good is a broken silver necklace or ring with missing stones? They will cost more to fix than they're worth, so just scrap them and use the cash toward something you can wear," suggests Salem.

For more information on selling your jewelry, visit www.nationaljb.com.

SOURCE: National Jewelry Buyers CONTACT: National Jewelry Buyers Romie Salem, 505-888-1805 sales@nationaljb.com www.nationaljb.com Copyright Business Wire 2012 -0- KEYWORD: United States

North America

New Mexico INDUSTRY KEYWORD: Women

Natural Resources

Mining/Minerals

Retail

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Men SUBJECT CODE: Product/Service