Scrap Silver Calculator

Understanding scrap silver melt value

The scrap melt value of silver is the intrinsic market worth of the fine silver contained in an item, independent of craftsmanship, brand, or collectible premium. Whether you are selling broken sterling flatware, pre-1965 US coin silver, vintage European tableware, or bullion rounds, calculating melt value gives you a baseline dollar figure for negotiating with coin shops, pawn brokers, and precious metal refiners.

All calculations run client-side in your browser. Enter total weight, select the purity grade, and enter the current silver spot price per troy ounce. If you also hold scrap gold, compare both holdings with our gold melt calculator. To evaluate how physical silver fits into a broader portfolio allocation, use the dollar-cost averaging calculator for periodic purchases.

Common silver purity grades

Silver purity is expressed as millesimal fineness (parts per 1,000) on hallmarks and bullion stamps. Unlike gold karats (parts per 24), silver fineness uses a decimal fraction directly:

Troy ounces versus avoirdupois ounces

Silver spot prices on commodities exchanges are quoted per troy ounce (ozt), not per standard kitchen-scale ounce. A troy ounce equals exactly 31.1034768 grams, roughly 9.7% heavier than an avoirdupois ounce at 28.3495 grams:

Jewelers and coin dealers also quote weights in pennyweights (dwt), where 1 troy ounce equals 20 pennyweights. Our calculator converts grams, troy ounces, pennyweights, and avoirdupois ounces automatically.

The scrap silver melt value formula

Determining intrinsic melt value requires three successive steps:

Step 1: Compute pure silver content

Step 2: Calculate full 100% melt value

Step 3: Factor in dealer payout percentage

Commercial buyers cover refining, assay verification, freight, and operating margin. Real-world cash offers typically range from 80% to 95% of full melt value:

To test alternate commission spreads or compare offers, use our discount calculator.

Step-by-step worked example: Selling 100 g of sterling silver

Suppose you have 100.0 grams of sterling silver (.925 fineness) and the current silver spot price is $28.50 per troy ounce.

1. Convert gross weight to troy ounces:
   $$\text{Weight (ozt)} = \frac{100.0}{31.1035} \approx 3.2151\text{ ozt}$$
2. Extract fine silver content: Sterling silver is 92.5% pure:
   $$\text{Fine Silver} = 3.2151\text{ ozt} \times 0.925 = 2.9739\text{ ozt (or 92.5 g)}$$
3. Compute 100% intrinsic melt value:
   $$\text{Melt Value} = 2.9739\text{ ozt} \times \$28.50 = \$84.76$$
4. Apply a typical dealer offer (85% payout):
   $$\text{Cash Payout} = \$84.76 \times 0.85 = \$72.04$$
   At an 85% payout, your effective scrap return is $0.72 per gram of total item weight.

Dealer payouts: What to expect when selling

• Pawn shops (70% to 80%): Fast cash with the lowest payout percentages due to overhead and inventory risk.
• Local coin shops and jewelers (80% to 90%): Competitive rates for tested silver with XRF or acid assay verification.
• Direct refiners (90% to 95%): Highest fractions, but often require minimum lot sizes and charge assay or lot fees.

Pre-1965 US silver coins contain 90% silver by weight. If you are sorting a mixed coin jar, the dimes to dollars converter can help you tally face value before applying silver content math.

Frequently asked questions