Silver Calculator UK

How Do I Calculate the Value of My Silver?

Calculating the value of your silver involves three key factors: weight, purity, and the current silver spot price. Our calculator above does this automatically, but here is how the maths works:

1. Weigh your item in grams. Use kitchen scales or a jeweller's scale for accuracy.
2. Identify the purity. Look for a hallmark stamp — 925 (sterling), 958 (Britannia), or 999 (fine silver).
3. Multiply: weight × purity × silver price per gram. For example, a 30 g sterling silver bracelet at today's price: 30 × 0.925 × £1.72 = £47.73 spot value.

Dealers typically offer 70–90% of the spot value depending on the form (scrap jewellery, coins, or bars). Our calculator shows you the estimated dealer range so you know what to expect.

What Purity Is My Silver?

UK law requires silver items weighing more than 7.78 grams to carry an assay office hallmark. Here's what the common purity stamps mean:

If your item has no hallmark, it may be silver-plated rather than solid silver. A dealer can perform an acid test or XRF scan to confirm the composition — most offer this service free of charge.

How Much Do Dealers Pay for Scrap Silver?

The price a dealer offers depends on the form of your silver and how easily it can be resold or refined:

• Scrap jewellery: 70–75% of spot value. Includes broken chains, mismatched earrings, and unwanted pieces. Refining costs reduce the offer.
• Silver coins (Britannias, etc.): 80–85% of spot value. Coins in good condition may attract a numismatic premium above melt value.
• Bars and bullion: 85–90% of spot value. Easy to verify and resell, so margins are thinnest.
• Cutlery and flatware: 70–80% of spot value. Often sterling 925 — weigh the silver parts only (handles may contain stainless steel or filler).

Always obtain quotes from at least three dealers to ensure a fair price. Our dealer directory lists 242+ verified UK buyers.

Does VAT Apply When Selling Silver?

No. When you sell silver to a UK dealer, you receive the agreed price with no VAT deduction. VAT only applies when purchasing silver bullion — dealers must charge 20% VAT on silver bars and coins sold to the public.

This is an important distinction from gold, which is VAT-exempt for investment-grade bars and coins. The VAT difference makes silver bullion more expensive to buy and means the silver price must rise by at least 20% before a buyer can break even on a bullion purchase.

For sellers, however, VAT is not a concern — your dealer payment is the net price agreed. Capital Gains Tax (CGT) may apply if your silver items qualify as “chattels” and the disposal exceeds the annual CGT allowance, but Silver Britannia coins are CGT-exempt as UK legal tender.

Where Can I Sell Silver in the UK for the Best Price?

The best price for silver in the UK comes from specialist bullion dealers who buy silver by weight at published rates based on the daily spot price. High-street jewellers and pawnbrokers tend to offer 10-20% less than specialist buyers. Online dealers often pay the highest rates because their overheads are lower.

To maximise what you receive when selling silver in the UK:

• Calculate first — use the calculator above to know your silver's approximate value before contacting dealers
• Get at least three quotes — use our dealer directory to find 242+ verified UK buyers
• Know your hallmarks — items with clear purity stamps attract higher offers. See our silver hallmarks guide
• Sell coins separately — Silver Britannias and other recognisable coins often attract premiums above melt value
• Check the live silver price — sell when spot prices are strong and the GBP/USD rate is favourable

How to Verify the Purity of Silver Before Selling

Verifying silver purity before visiting a dealer ensures you receive a fair offer. UK hallmarks are the most reliable method — look for a stamped number (925, 958, or 999) alongside an assay office mark. Items hallmarked in the UK will also carry the lion passant symbol for sterling silver or the Britannia figure for 958 silver.

If your silver has no hallmark, a dealer can perform a free XRF (X-ray fluorescence) scan or acid test to confirm the purity. Do not accept a below-market offer on unmarked silver without testing — many older and European pieces are solid silver despite lacking UK hallmarks. Read our complete UK silver hallmarks identification guide for detailed instructions.