Ever since prices for both gold and silver reached new heights in the late 2000s, there’s been much better awareness of the enduring value of precious metals. When you have gold or silver belongings lying around at home, you have a reliable store of value that you can trade in for extra cash whenever you want.

Gold and silver can come in all kinds of forms, including coins, jewelry, antiques, and heirlooms. This guide will help you prepare different types of gold and silver valuables to get a better price.

Gold and Silver Coins

Coin collections can be very difficult to evaluate if you’re not familiar with the hobby. When it comes to silver coins, you can be looking at anything from junk silver that used to be circulated in the form of dimes, quarters, and half-dollars, to 99.9% pure silver bullion coins, to rare collectible coins.

Bullion coins are relatively easy to identify. One face should be stamped with information about the mint that made the coin, its weight, and its purity.

Gold and silver bullion is often purchased as an investment product to diversify portfolios out of stocks and bonds, hedge against inflation, and as a way to protect wealth against geopolitical uncertainty. They’re very easy to sell and easy to identify.

Collectible coins are a different matter. Coins with real collectible value are harder to come by than you might think. You will want to make sure they’re evaluated by a buyer you trust.

Silver Flatware

Silver has long been used in flatware, which refers to butter knives, forks, spoons, and plates. Silver flatware sets are often given as gifts or inherited as heirlooms. Historically, they’ve been kept as a second set of utensils used for guests, holidays, and special occasions, but they’re increasingly falling out of favor with Millennials and younger households.

There are plenty of reasons to want to part with a set of silver flatware. Many Millennials are moving into homes with considerably less space than their parents and grandparents enjoyed. Condo living puts space and storage at a premium. Silver flatware sets can also take a lot of maintenance, as they should be carefully cleaned and polished, especially if you use them.

When you sell sterling silver flatware, check the silver purity and, if possible, the weight of your set. Also, keep an eye out for certain manufacturers with collectible value, including Reed and Barton, Alvin, Unger Bros., Watson, Shiebler, Wallace, and others.

Silver Jewellery

Jewelry can be another quick win for anyone looking to sell some belongings for a cash injection. However, you should first see if you can identify how much silver or gold is in each piece before you proceed and do your research into buyers.

If you don’t remember how many karats of silver or gold a piece of jewelry is, you may want to check it for a hallmark, which should have that information. Once you know how many karats a piece is, you should be able to look up rates from bullion dealers.

Precious metals are a great way to earn extra funds.