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Take Advantage of the High Price of Silver

October 17, 2011

While a lot of attention has been given to the historic rise in the price of gold, the price of silver has also seen a tremendous increase in the last few years. People are now taking advantage of the high price and getting cash for silver at record cash payouts.

Historically the price of silver tended to hover below $10/oz., but in the last two years the price has shot up to over $30/oz.. This has caused people to reevaluate grandma’s old silverware and look for web sites that promise to turn silver into cash in less than a week.

Sites with names like CashForSilver or Cash4Silver will take unwanted silver in the form of jewelry, flatware or serving sets, no matter the condition, and send silver sellers a check based purely on the silver content. They will even pay for the shipping, and if the seller isn’t satisfied with the price being offered, they will get the silver back, at no charge. However, given the high price that silver is fetching these days, few people are turning down the cash offer.

At Cash For Silver, all a user has to do is fill out a form, and they will email a prepaid FedEx shipping label that can be used to ship the silver items at no cost. Within 24 hours of receiving the material, they will assess its value based on that day’s market price and send a check, which the seller can then either cash, or if the seller is not satisfied with the amount, can request that the material be returned, again at no cost.

Gone are the days when a person had to go to the seedy part of town to find a pawn shop to sell silverware. Now it can be done from the comfort of one’s own home in as little as seven days. People now have an incentive to pull out that tarnished silver tea set that has been sitting in the back of a closet for years.

That’s at least one bright side to a troubled global economy. The high price of silver can make what was once considered fancy junk into a ready source of cash.