Comparing Offers: How to Choose the Best Buyer for Your Silver Bullion

Selling silver bullion looks simple on the surface—take your bars or rounds to a buyer, get a quote, walk out with cash. Yet anyone who has tried to unload a stack of one‑ounce rounds or a 100‑ounce bar quickly finds that every buyer prices silver a little differently. Understanding those differences can add hundreds of dollars to your payout.

This guide breaks down how to compare offers, explains the math behind each quote, and lists the red flags that signal an offer is too good—or too bad—to be true.

Know the Spot Price Before You Leave Home

Buyers peg offers to the live “spot” price, the worldwide quotation for one troy ounce of .999 fine silver. You can check it on sites like Kitco or MarketWatch. On a typical weekday, the spot price updates every few seconds.

• Why it matters: If spot is $30 per ounce and someone quotes you $23, that’s a 23% discount—far below the normal range.
• Pro tip: Print or screenshot the live chart just before you head out. Having proof of the current spot price levels levels the playing field during negotiations.

Understand the Typical Discount Range

Every legitimate buyer subtracts a margin to cover refining fees, business overhead, and profit. The size of that discount depends on several factors:

Bullion Type	Typical Payout (vs. Spot)	Why the Difference?
1‑oz rounds & bars	90–95 %	Easy to melt, high demand
10‑oz bars	92–96 %	Lower handling cost per ounce
100‑oz bars	93–97 %	Preferred by refiners
“Generic” 40%–90% silver	70–85 %	Extra refining needed, less liquid

If an offer lands outside those bands, ask for an explanation. It may be a great deal, or a sign the buyer is inflating margins.

Watch the Scale and the Purity Test

Two pieces of equipment determine your payout:

• Certified Scale – It should read in troy ounces or grams and display a current inspection sticker.
• Purity Tester – Most buyers use X‑ray fluorescence (XRF) or an ultrasonic tester. Acid scratch testing is fine for jewelry, but not ideal for .999 bullion.

Insist on seeing both tests performed in front of you. If the buyer won’t allow it, walk away.

Ask to See the Worksheet

Top buyers show a simple worksheet with:

• Weight (e.g., 32.15 troy oz)
• Spot price (e.g., $29.85)
• Payout percentage (e.g., 95 %)
• Final offer (Weight × Spot × Payout)

Transparent math signals an honest business. A lump‑sum offer with no breakdown often hides an extra margin.

Compare at Least Three Offers

Even in a small city, you can usually find:

• A specialty precious‑metal dealer
• A pawn shop
• A jewelry store that also buys bullion

Get a quote from each on the same day while spot prices are steady. Differences of 3–5 % are common; on a 100‑ounce bar, that can be $90–$150.

Factor in Hidden Costs

Cost Item	Local Buyer	Online Mail‑In Buyer
Shipping & Insurance	None	$20–$50 per package (often reimbursed only one way)
Wire/Check Fee	None	$10–$30
Offer Rejection Return	Walk out with silver	You pay return shipping
Time to Cash	Same day	7–14 days

Mail‑in services can work, but add every fee and the wait time to the equation before choosing convenience over cash.

Beware of Spot‑Price “Bait and Switch”

Some dealers advertise “We pay 98 % of spot!” only to discount the spot price itself by a dollar or two when you arrive. Always confirm:

“Is your payout percentage based on the current COMEX silver spot or a discounted house price?”

If the answer is fuzzy, find another buyer.

Confirm Payment Method and Speed

Reputable dealers pay immediately in one of three ways:

• Cash – often capped by store policy for security
• Business check – clears in 24–48 hours
• Instant ACH or wire – fastest for large sales

If a buyer asks you to leave the metal and come back in a week, that’s a red flag unless you initiated a consignment sale.

Check Reviews and Licensing

Search the buyer’s name plus “reviews” on Google or Yelp. Pay attention to complaints about:

• Lowball offers after mailing items in
• Delayed payments
• Poor customer service

For Texas sellers, the Office of Consumer Credit Commissioner maintains a registry of licensed precious‑metal dealers. A license isn’t a guarantee, but it’s better than dealing with an unregistered pop‑up operation.

Know When Silver’s Hot

Silver prices spiked to nearly $50 in 2011 and topped $30 in early 2021. Price rallies often coincide with economic uncertainty, strong industrial demand, or dips in the U.S. dollar index. Selling into strength can add a significant premium to your payout.

Financial sites like Reuters and Bloomberg track supply‑demand forecasts. The Silver Institute reported a record industrial demand of 556 million ounces in 2022, underpinning prices during market dips [Silver Institute: “World Silver Survey 2023”]. Keeping an eye on such data helps you time your sale.

Quick Checklist Before You Accept an Offer

• Live spot price printed or screenshotted
• Scale & purity test done in sight
• Worksheet showing weight × spot × payout %
• The final figure falls within the typical discount range
• Immediate, fee‑free payment method confirmed

If any step feels off, trust your instincts and get another quote. Your silver will hold its value while you shop around.

Call Tyler Gold & Bullion at 903-522-4337 for a clear breakdown, competitive payout, and cash on the spot for your silver bullion.