Sell Silver UK: How to Get the Best Price in 2026
A professional guide to selling silver bullion, coins, and scrap in the UK. Understand dealer buyback rates, AML compliance, and tax obligations. Check today's scrap silver prices and use our silver calculator to value your items before selling.
Silver Spot Price Today
Fine Silver (999) Per Gram
£1.47
Sterling (925) Per Gram
£1.36
Per Troy Ounce
£45.64
Source: London Bullion Market Association (LBMA) • Last updated: 01/10/2026
Where Can I Find the Best Rates for Scrap Silver in the UK?
Hatton Garden Metals, a specialist postal dealer, pays about 70% of melt value for scrap silver (its published scrap rate, checked 17 September 2026). High street pawnbrokers and cash-for-gold shops usually pay less. Always get at least 3 quotes before selling.
| Buyer Type | Payout Rate | Per Gram (925) | Best For |
|---|---|---|---|
| Hatton Garden Metals (specialist postal dealer) | About 70% | £0.95 | Hallmarked scrap of any quantity; published rate, checked 17 September 2026; postage deducted from the payment |
| Other Specialist and Online Buyers | Varies | Ask for a quote | Comparing quotes before you post |
| Local Coin/Antique Dealers | Varies | Ask for a quote | In-person sales, interesting pieces |
| High Street Pawnbrokers | Usually less | Ask for a quote | Instant cash, small amounts |
| Cash for Gold/Silver Shops | Usually less | Ask for a quote | Last resort only |
Investment Silver: Higher Buyback Rates
Named dealers publish different buyback terms for delivered bullion and silver already held in their vaults. Check which service applies to your items:
Hatton Garden Metals
About 87.5% of spot
Posted silver bars and most 1 oz bullion coins; about 89% for 1 oz Britannias (published prices, checked 17 September 2026)
The Royal Mint
90% of the live silver price
LBMA Midday Fix; eligible 999+ silver coins and bars
BullionByPost
Published vault rate
VAT-free vaulted silver only; delivered items quoted
Sharps Pixley
Item-specific quote
LBMA Full Member
How Do I Sell Scrap Silver for the Highest Price in the UK?
Following this step-by-step process ensures you get the best possible price when selling silver in the UK. The most important step is knowing your silver's value before approaching any buyer.
Identify Purity and Weigh Your Silver
Check for hallmarks: lion passant (925 sterling), Britannia figure (958), or 999 for fine silver. Separate items by purity. Weigh each group using digital scales (jewellery scales cost £10-£30). EPNS or “silver plated” items have no scrap value.
Calculate the Melt Value
Use our silver calculator or the scrap silver payout tables to know exactly what your silver is worth at today's spot price. This is your baseline for evaluating any dealer offer.
Get 3-4 Quotes
Contact at least 3 specialist bullion dealers for quotes. Prices can vary by 20-30% between buyers. For investment-grade bullion (Britannias, bars), also contact the original selling dealer — they often offer the best buyback rates.
Prepare Your ID and Documentation
Have your photo ID (passport or driving licence), proof of address (utility bill within 3 months), and bank details ready. For sales over £10,000, you may need a source-of-wealth declaration.
Sell to the Best Buyer
Choose the buyer offering the highest percentage of melt value. For postal sales, ensure the buyer provides insured postage. Payment should be by bank transfer to your named account. Ask each buyer when it pays: Hatton Garden Metals' selling terms allow up to 14 days for silver.
How Do UK Silver Dealers Verify Authenticity Before Purchase?
Reputable UK silver dealers use professional testing equipment to verify every item they purchase. This is why specialist dealers can offer better rates than high street buyers — they have the equipment to confirm purity accurately, reducing their risk.
X-ray fluorescence provides an instant elemental breakdown of the silver's composition, confirming exact purity (e.g., 92.5% for sterling). Non-destructive and takes seconds.
Detects tungsten or base metal cores that XRF cannot see. Sound waves travel at different speeds through different metals, revealing hidden counterfeits inside bars or coins.
Specific gravity testing confirms an item's density matches what is expected for its stated purity. Silver has a density of 10.49 g/cm³ — significantly different from common filler metals.
How Does the Sterling Mark Affect Scrap Silver Pricing in the UK?
The sterling hallmark (lion passant for 925 purity) directly affects pricing because it legally confirms the silver content without additional testing. Hallmarked silver commands better rates than un-hallmarked items because dealers face less risk.
UK Hallmarking Act 1973: Any silver article weighing 7.78 grams or more must carry a hallmark to be sold as “silver” in the UK. The four UK Assay Offices are London, Birmingham, Sheffield, and Edinburgh.
Bullion exemption: Bars and rounds sold purely by weight are exempt from hallmarking requirements under Schedule 1, Part II, Paragraph 7 of the Act. Dealers verify these items using XRF and density testing instead.
| Purity | Hallmark | Spot Value/g | Hatton Garden Metals pays (70%) |
|---|---|---|---|
| 999 Fine Silver | 999 | £1.47 | £1.03 |
| Britannia Silver | 958 | £1.41 | £0.99 |
| Sterling Silver | 925 | £1.36 | £0.95 |
| Continental Silver | 800 | £1.18 | £0.82 |
| Debased Silver | 500 | £0.73 | £0.51 |
Learn how to identify all UK silver hallmarks in our complete silver hallmarks guide.
What Documents Do I Need to Sell Scrap Silver in the UK?
UK bullion dealers are classified as High Value Dealers (HVDs) and supervised by HMRC for anti-money laundering compliance. The documentation required depends on the value of your sale.
| Sale Value | Requirement | Documents Needed |
|---|---|---|
| Under £5,000 | Basic CDD | Photo ID (many dealers require for all sales) |
| £5,000-£10,000 | Enhanced CDD | Passport or driving licence + utility bill (within 3 months) |
| Over £10,000 | Full AML statement | All above + source-of-wealth declaration |
| Over £50,000 | Institutional review | Corporate-level due diligence |
Important: Payments are made exclusively by bank transfer to an account in the seller's name. Most reputable dealers now require ID for all sales regardless of value as a risk-mitigation measure. Have your documents ready before visiting a dealer.
What Are the Tax Implications of Selling Scrap Silver in the UK?
Most private silver sales are CGT-free. No VAT is deducted when you sell silver to a UK dealer — you receive the agreed price in full. Capital Gains Tax only applies if your total gains exceed the annual allowance.
- +Individual items sold for under £6,000 (chattels exemption)
- +Total annual gains under £3,000 (CGT allowance)
- +Silver Britannia coins (always CGT exempt — UK legal tender)
- +No VAT deducted when selling as a private individual
- !Silver bars and foreign coins with gains above £3,000
- !Sets of items (e.g., canteen of cutlery) exceeding £6,000
- !CGT rate: 24% on gains above the allowance
- !Original purchase cost, fees, and insurance are deductible
Allowable CGT Deductions
If CGT applies to your sale, you can deduct these costs from the gain: original purchase price, dealer buying and selling fees, insurance premiums, storage costs, and postage/courier fees. Keep all receipts. For CGT-exempt options, see our Silver Britannia guide.
Is It Better to Sell Scrap Silver Online or in a Local UK Shop?
For most sellers, specialist online dealers offer better rates than local shops. Hatton Garden Metals, an online specialist, pays about 70% of melt value for scrap silver (its published scrap rate, checked 17 September 2026); high street pawnbrokers usually pay less. However, the right choice depends on your quantity and situation.
- +Usually better payout rates (Hatton Garden Metals: about 70% of melt value for scrap)
- +Professional XRF testing for accurate valuation
- +Insured postal pack supplied; some dealers, Hatton Garden Metals included, deduct the postage from your payment
- −Payment after receipt and testing; for silver, Hatton Garden Metals' terms allow up to 14 days
- +Immediate payment (same day)
- +No postage risk — you hand over in person
- −Pawnbrokers usually pay less than online specialists
- −High street shops often lack proper testing equipment
How to Avoid Scams When Selling Scrap Silver in the UK
Most problems when selling silver come from not knowing your item's value or selling to the wrong buyer. Here are the most common mistakes and how to avoid them.
- ✓Know the spot price before any negotiation
- ✓Get at least 3 quotes from different buyers
- ✓Check if antique or designer pieces are worth more than melt value
- ✓Keep purchase receipts for CGT records
- ✗Sell investment-grade bullion to high street jewellers (they offer scrap rates)
- ✗Clean silver with abrasives — it reduces dealer valuation
- ✗Post silver without insurance
- ✗Accept an offer without comparing it with the melt value and other quotes
What Percentage of Market Value Do Dealers Pay for Scrap Silver?
Hatton Garden Metals, a specialist postal dealer, pays about 70% of melt value for scrap silver (its published scrap rate, checked 17 September 2026). Pawnbrokers and cash-for-silver shops usually pay less. Here is a worked example for a typical sale.
Worked Example: 100g Sterling Silver Bracelet
Selling a hallmarked 925 sterling silver bracelet weighing 100 grams at today's prices:
Melt Value
£135.97
Hatton Garden Metals (70%)
£95.18
Per gram at that rate
£0.95
The payout is before Hatton Garden Metals' postage charge, which it deducts from the payment. Pawnbrokers and cash-for-silver shops usually pay less, so ask each buyer for a written quote and compare it with this figure.
Sell your silver to Hatton Garden Metals
Pays about £0.95/g for sterling and £1.03/g for fine silver today (published rate, 70% of spot) · Insured selling pack · no-obligation valuation · paid on processing · 4.9★ Trustpilot
Affiliate partner — we may earn a commission at no extra cost to you.
Frequently Asked Questions
Where can I find the best rates for scrap silver in the UK?
Compare item-specific quotes from specialist dealers, including Atkinsons and Sharps Pixley. Ask for the net payment after testing, refining and postage charges. A rate advertised for bullion already held in a dealer’s vault does not establish the payout for scrap silver. Obtain at least three quotes.
What documents do I need to sell scrap silver in the UK?
You need a valid photo ID (passport or driving licence), proof of address dated within 3 months (utility bill or bank statement), and bank details in your name. For sales over £10,000, a source-of-wealth declaration may be required under HMRC anti-money laundering rules.
What are the tax implications of selling scrap silver in the UK?
No VAT is deducted when you sell. Most sales are CGT-free — items under £6,000 qualify for the chattels exemption, and gains under £3,000 fall within the annual CGT allowance. Silver Britannia coins are always CGT exempt. Silver bars face 24% CGT on gains above the allowance.
How does the sterling mark affect scrap silver pricing?
The sterling hallmark (lion passant, 925) confirms purity without additional testing, so hallmarked items get better rates. Sterling silver is worth £1.36/g at spot (92.5% of the fine silver price). Un-hallmarked items require XRF testing and may receive lower offers.
Is it better to sell scrap silver online or in a local UK shop?
Hatton Garden Metals, an online specialist, pays about 70% of melt value for scrap silver (its published scrap rate, checked 17 September 2026). High street pawnbrokers usually pay less. For small amounts under £100, local convenience may be worth a lower rate. For larger amounts, compare quotes from online specialists that send an insured postal pack.
What percentage of market value do dealers typically pay?
Hatton Garden Metals, a specialist postal dealer, publishes its silver buying prices: about 70% of melt value for scrap, about 87.5% of spot for silver bars and most 1 oz bullion coins, and about 89% for 1 oz Britannias (checked 17 September 2026). Pawnbrokers and cash-for-silver shops usually pay less for scrap. Other bullion dealers publish their own buy prices for coins and bars, and some pay more for bullion held in their own vaults, so compare quotes before you sell.
How do UK silver dealers verify authenticity?
Specialist dealers use XRF (X-ray fluorescence) for elemental analysis, ultrasonic testing to detect base metal cores, and density verification. This professional equipment is why specialists can offer better rates — they accurately assess purity, reducing their risk. High street shops often lack this equipment.
Find Out What Your Silver Is Worth
Calculate your silver's melt value and find verified buyers near you
Related Guides
Live payout tables for all purities — know what dealers actually pay.
Check Prices →Identify your silver's purity from its hallmarks before selling.
Read Guide →Thinking of reinvesting? Compare dealers and avoid 20% VAT with bonded storage.
Read Guide →About the Author
Founder & Market Researcher
Taro has been actively investing in precious metals and financial markets for over 15 years. Frustrated by the lack of transparent, accurate gold pricing information in the UK, he built London Gold Exchange as a data-driven resource for fellow investors. The site combines real-time market data, verified dealer information from 242+ UK businesses, and insights drawn from years of hands-on experience in the gold market.
- ✓15+ years investing in precious metals & equities
- ✓Built verified database of 242+ UK gold dealers
- ✓Daily market data analysis and price tracking
Hatton Garden Metals rates: its sell-silver, sell-silver-coins and sell-silver-bars pages (hattongardenmetals.com), checked 17 September 2026. Royal Mint silver rate: royalmint.com/sell, checked 22 September 2026. BullionByPost and Sharps Pixley silver buyback terms checked 17 September 2026. Vaulted rates require eligible stored holdings; request a current quote for delivered items.
Disclaimer: Silver prices change daily based on global markets. Prices shown are indicative and based on LBMA spot prices. Actual offers from buyers will vary depending on purity, quantity, and buyer type. Always get multiple quotes before selling. Tax information is general guidance — consult a qualified tax adviser for personal circumstances. Last updated: 22 September 2026.
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