The three main venues through which to sell silver are private parties, silver dealers and pawn shops. Private parties generally pay the most but also may take more time and effort.
To sell silver privately, using an online site such as eBay or Craigslist is recommended. Physical auctions are also a reasonable venue, but they can take 10 to 20 percent of the profits. Selling silver to a silver dealer is a much faster process, but they do not offer as much as private seller. Silver dealers generally pay by the ounce, and prices fluctuate depending on the current value of silver. Pawn shops usually offer the least amount for silver, sometimes even offering below the scrap price.