Value Your Sterling Silver Chain
The raw value of your sterling silver earrings can be computed very easily if you have a small digital scale. You can go to your local post office if you don't have a digital scale.
Below is an example of valuing a pair of sterling silver chains:
.925 Sterling Silver Earrings Valuation Example
1. The silver content in our pair of sterling silver earrings is 92.5%. This is standard sterling silver regardless of whether the silver earrings are alloyed with copper or rhodium.
2. The overall weight of the sterling silver chains is weighed next. For this example, our sterling silver chain weighs 16 ounces.
3. The live (current) price of silver can be found for free at online silver bullion dealers. Kitco is a popular online website to view current silver prices. The "bid" is what a buyer is willing to pay per ounce, and the "ask" is what a seller is willing to sell silver per ounce. For our example, we will use a bid price of $27/ounce.
4. Calculate the silver content value by multiplying the weight of the silver earrings (16 ounces) X's the live bid price of silver ($27), and multiple the sum by 92.5% (.925).
16 ounces x's $27 per ounce equals = $432
$432 X's 92.5% = $399.60
In conclusion, a sterling silver chain that weighs 16 ounces contains physical silver worth $399.60