Selling silver in Sydney: sterling, coins, and bullion

Most people think of gold when they hear "sell your valuables", but silver is the second biggest category of precious metal we buy at our Burwood shop. Here is what is worth bringing in, and what it is realistically worth.

Three kinds of silver we buy

1. Sterling silver jewellery and cutlery. Look for the stamp: "925", "sterling", or "ster". Tea sets, serving trays, candlesticks, chains, bracelets, brooches. Even broken or single pieces have value.

2. Pre-decimal Australian silver coins. Anything dated 1945 or earlier in 1 shilling, 2 shilling, or florin denominations is 92.5% silver. Coins dated 1946-1964 are 50% silver. 1966 round 50 cent pieces are 80% silver. We weigh and pay per gram.

3. Bullion and modern silver coins. Perth Mint Lunar series, Koala, Kookaburra, Wedge-tailed Eagle, ABC (Australian Bullion Company), PAMP bars, generic rounds. These have a recognised premium on top of the spot price.

What affects the price

Silver moves independently of gold. The spot price for silver is quoted per troy ounce (31.1g) and updated every few minutes during trading hours. As of mid-2026, silver has been ranging between AUD $35 and $50 per ounce, with peaks above.

For sterling, expect around 70-85% of the spot. For recognised bullion, expect 90-100% of spot plus the premium reflected in the buy price.

Common mistakes

• Polishing silver before bringing it in. Tarnished is fine, we test the metal either way.

• Throwing out the original packaging on coins. Sealed tubes, mint rolls, and original assay cards add 5-15% to a bullion value.

• Sorting coins by "looking silver". A 1965 Australian shilling looks silver but is cupro-nickel — no precious metal content.

• Hanging on to scrap silver "for a special occasion". Spot moves up and down, but sterling jewellery in a drawer is just depreciating slowly and the opportunity cost adds up.

How we handle it

Walk in with your silver. We test the metal with acid, weigh on calibrated scales, and quote based on the live spot. Sterling and coins are paid at the spot rate. Bullion is paid at spot plus the recognised premium.

If you have a large collection — a tea set, dozens of coins, a kilo of sterling scrap — call ahead on 02 9715 7200 and we will set aside time to test, weigh, and quote properly.