Silver Bullion Guide: Buying, Selling, Coins & Sterling Tips
Last reviewed July 2026. Silver prices change often, so use live market references and contact Larsen's before making a special trip.
If you are sitting on silver rounds, bars, old coins, sterling jewelry, flatware, or a collection you have held for years, you may be wondering what it is worth and how the local buying or selling process works before you bring it into a store.
This local blog gives practical tips for understanding silver bullion, junk silver, sterling silver, and coin collections before you buy, sell, or ask for an in-store evaluation. For current local buying and selling details, use the main Silver Bullion & Coins in Mobridge page. If you also have gold, estate jewelry, coins, or mixed precious metals, bring those too. We can help sort through them at the counter.
What Is Silver Selling For?
Silver prices can move for several reasons, including industrial demand, investor demand, precious-metal market conditions, and broader economic uncertainty. Because prices change, we avoid quoting a fixed payout in a blog post. The most accurate number is always based on the market and your actual items on the day you visit.
Why Silver Prices Move
This post is not investment advice, but understanding the basic drivers can help you make a more informed decision about whether to sell, hold, or buy.
Common Silver Items Customers Bring In
You do not need pristine collector coins to have valuable silver. Here is what we commonly evaluate at Larsen's and how each type is generally reviewed.
| Silver Type | Typical Purity | Common Examples | What Matters Most |
|---|---|---|---|
| .999 bullion | 99.9% silver | 1 oz rounds, bars, private-mint bullion, government bullion coins | Weight, purity stamp, condition, recognizability, and current silver market price. |
| 90% U.S. silver | 90% silver | Many pre-1965 dimes, quarters, half dollars, Morgan dollars, and Peace dollars | Face value, date, mint mark, condition, silver content, and any collector premium. |
| Sterling silver | 92.5% silver | Jewelry, flatware, serving pieces, trays, and marked estate items | Weight, sterling mark, non-silver attachments, condition, and resale or melt value. |
| Silver-plated items | Thin silver layer over base metal | Many older serving pieces, trays, and decorative items | Usually not evaluated like solid sterling; worth checking if part of an estate group. |
Silver rounds and bars
One-ounce .999 fine silver rounds are usually straightforward to evaluate because many are stamped with weight and purity. The same applies to 10 oz bars, kilo bars, and other stamped bullion. We verify what we can, weigh items in front of you, and explain the numbers.
American Silver Eagles
American Silver Eagles are widely recognized and commonly traded. They may carry a premium above ordinary silver rounds depending on condition, demand, and market conditions. If you have a roll, tube, or individual coins, bring them in for review.
Pre-1965 U.S. coins, Morgan dollars, and Peace dollars
Dimes, quarters, half dollars, and many U.S. silver dollars minted before 1965 contain silver. "Junk silver" is a market term; it does not mean the coins are worthless. Common-date coins can still have meaningful metal value, while some dates, mint marks, and conditions may add collector value.
Sterling silver jewelry and flatware
Pieces stamped 925, sterling, or ster are typically 92.5% silver. Broken chains, mismatched earrings, old flatware sets, and single serving pieces may still have value. You do not need a full set or perfect condition for the item to be worth evaluating.
Other government-issued silver coins
Canadian Maple Leafs, Austrian Philharmonics, Mexican Libertads, and similar government-minted coins are welcome. We evaluate both silver content and any relevant collector premium.
How Spot Price Affects Your Offer
Spot price is the market reference price for one troy ounce of pure silver. When you bring silver to Larsen's, we use spot price as a reference, but the final offer also depends on the item itself.
- Purity first - .999 fine silver, 90% silver coins, and sterling silver are not all the same purity. We identify the type and explain how that affects value.
- Weight in troy ounces or grams - silver is commonly priced by troy ounce, but smaller pieces may be weighed in grams. We weigh items in front of you.
- Market pricing at the time of transaction - silver moves frequently, so final offers are confirmed in store on the day of your visit.
- Collector premium on some coins - certain dates, mint marks, conditions, and coin types may have value above melt. We explain which applies to your items.
Spot Price, Melt Value, Premium, and Dealer Spread
Silver buyers and sellers use a few different numbers, and mixing them up can make offers feel confusing. Spot price is the wholesale market reference for pure silver. Melt value is the metal value of your specific item after purity and weight are considered. Premium is the extra amount some coins or bullion products can carry above melt because buyers recognize and want them. Dealer spread is the difference between what a shop can pay and what it can resell or replace the item for.
| Term | Plain-English Meaning | Why It Affects You |
|---|---|---|
| Spot price | The market reference price for one troy ounce of pure silver. | It is the starting reference, not a guaranteed buy or sell price. |
| Melt value | The estimated metal value after purity and weight are considered. | Sterling, 90% coins, and .999 bullion do not calculate the same way. |
| Premium | Value above melt for recognizable, collectible, or higher-demand pieces. | American Silver Eagles, better-date coins, and clean bullion may not be treated like scrap. |
| Dealer spread | The working difference between buy and sell prices. | It covers market movement, testing, handling, inventory risk, and resale costs. |
What to Bring for a Silver Evaluation
A little organization helps us review your silver more clearly at the counter. Bring the items as they are, along with anything that helps identify weight, purity, origin, or collection history.
- Coins in tubes, flips, holders, or albums - bring the holders with the coins if you have them.
- Original packaging or certificates - especially for American Eagles, proof coins, bars, rounds, or collectible pieces.
- Flatware, serving pieces, and sterling jewelry - include mismatched, broken, or single pieces if they are stamped sterling, ster, or 925.
- Estate notes or written lists - any notes from a family member, collector, or estate box may help identify what you have.
- Valid photo ID - useful and often needed for selling precious metals or completing certain in-store transactions.
How a Local Silver Evaluation Usually Works
We keep the process transparent and pressure-free. Here is what to expect from start to finish.
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Text photos first if you are driving from out of town - send clear photos of your silver, gold, coins, jewelry, or bullion, including visible stamps or markings, through the Contact page. We can give you a quick initial read. Final offers are always made in store.
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Bring your silver in - walk-ins are welcome during business hours. Bring everything you have, including pieces you are unsure about. Broken, mismatched, and incomplete items may still have value.
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We test and weigh in front of you - we confirm visible markings, weigh items, check market pricing, and explain the math before any offer is made.
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We explain the offer - we walk through weight, purity, spot price reference, item type, and other factors so you understand the number.
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You decide - if the offer works, you can accept. If not, you can take your silver home. There is no pressure and no obligation.
Buying Physical Silver Locally - What to Ask First
We buy and sell silver based on what is currently in inventory. When we have rounds, bars, American Eagles, or pre-1965 coins available, pricing is based on current market conditions with a dealer premium. The advantage is an in-person transaction with no shipping wait.
Local Silver, Gold, and Precious-Metal Questions
Larsen's Jewelry & Half Interest Pawn is a full-service pawn shop and jewelry store in Mobridge serving customers across north-central South Dakota. Customers visit from McLaughlin, Selby, Timber Lake, Gettysburg, Herreid, Pollock, Glenham, Isabel, Wakpala, Little Eagle, and nearby communities for silver bullion, cash for gold, pawn loans, jewelry repair, Black Hills Gold, and more. If your silver is part of a mixed estate box with gold jewelry too, our gold value guide explains karat, weight, and market-price basics before you bring everything in.
No mailing your silver away and waiting. No guessing from a phone quote. We have served Mobridge from Main Street for generations, and we are happy to look at what you have, explain what we see, and let you decide.
- Testing and weighing explained in front of you
- Current market pricing explained clearly
- No obligation to sell
- Same-day cash when you accept an offer
- Text photos first for out-of-town customers
Helpful Silver & Precious-Metal References
These outside references are included for silver pricing, bullion-coin context, and precious-metal quality-mark education. Final local offers and availability are always confirmed in store after inspection, testing, weighing, and current market review.
- Kitco live silver chart - live silver spot-price reference.
- Kitco precious metals page - gold, silver, platinum, and palladium quote reference.
- United States Mint bullion coin programs - official reference for American Eagle Silver Bullion Coins and other U.S. bullion programs.
- FTC precious-metal jewelry buying guide - consumer guidance on gold, silver, sterling, and quality markings.
- The Silver Institute: Silver in Industry - background on silver's industrial uses.
Silver and gold market prices change frequently. For current live silver pricing, visit Kitco.com. This post is informational only and does not constitute investment, tax, or financial advice.
Silver Bullion Buying & Selling FAQ
Do silver rounds, bars, and coins all pay the same?
Not always. .999 silver rounds and bars are usually valued mainly by weight, purity, condition, recognizability, and current market pricing. Government coins, American Silver Eagles, Morgan dollars, Peace dollars, and certain collectible coins may have premiums above melt depending on date, condition, and demand.
What does .999 fine silver mean?
.999 fine silver means the item is 99.9% silver. Many bullion rounds, bars, and American Silver Eagles are marked .999 fine silver, but condition, recognition, and local demand can still affect the offer or resale price.
Is sterling silver the same as pure silver?
No. Sterling silver is usually 92.5% silver and is often stamped 925, sterling, or ster. Fine silver bullion is commonly .999 pure. Purity affects how weight converts into silver value.
Are pre-1965 U.S. coins silver?
Many U.S. dimes, quarters, and half dollars dated 1964 or earlier contain 90% silver. Some U.S. silver dollars, including Morgan and Peace dollars, also contain silver. Dates, mint marks, and condition can affect whether a coin is valued mostly for metal content or collector demand.
Can I text photos before bringing silver to Mobridge?
Yes. Use the Contact page to text photos before making the drive. Include clear photos of stamps, dates, mint marks, bars, rounds, coin faces, flatware markings, and any packaging or paperwork you have.
Do you buy broken or mismatched sterling silver?
Broken, mismatched, incomplete, or single sterling pieces may still have value if they contain silver. Bring them in for an in-store review, especially if they are stamped 925, sterling, or ster.
Should I clean old silver coins before selling?
No. Do not polish or clean old coins before bringing them in. Cleaning can reduce collector value on coins that may be worth more than melt.
Can I buy silver locally at Larsen's?
Yes, when inventory is available. Silver rounds, bars, American Silver Eagles, pre-1965 coins, Morgan dollars, Peace dollars, and other silver items rotate in and out, so contact Larsen's before making a special trip for a specific item.
Should I use this guide or the main Silver Bullion page?
This blog post is an educational guide. For current local buying and selling details, use the main Silver Bullion & Coins in Mobridge page, then contact Larsen's before making a special trip.
Have Silver, Coins, or Sterling to Review?
Bring in rounds, bars, coins, sterling jewelry, flatware, or mixed precious metals. We test and weigh in front of you, explain the numbers, and give a clear local answer. For the main service details, use our Silver Bullion page. 211 N Main St, Mobridge, SD — Mon–Fri 11am–6pm, Sat 11am–3pm.
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