Sterling silver scrap value: how much is 925 silver worth?

Pure silver is too soft for most everyday uses, so it is alloyed with a small amount of another metal, usually copper, for strength. Sterling silver is defined as 92.5% pure silver, which is why you will see it stamped 925.

That 7.5% of base metal has no scrap value, which is why sterling items are always worth slightly less per gram than fine .999 silver.

Most genuine sterling items are hallmarked. British pieces carry a lion passant mark alongside the 925 fineness stamp, while jewellery is often simply stamped 925 or 'sterling'. Items marked EPNS or 'silver plate' are only thinly coated and have very little scrap value.

• 925, 'sterling' or the lion passant: genuine sterling silver
• 999 or 'fine': purer than sterling and worth more per gram
• EPNS, A1 or 'silver plated': negligible scrap value
• No mark at all: have it tested before assuming it is silver

Weigh the item in grams, multiply by 0.925 to get the fine silver content, then multiply by the live price per gram. A 50-gram sterling spoon at a spot price of £1.57 per gram contains about £72 of pure silver.

Remember that dealers typically pay around 90 to 98 per cent of melt value to cover refining, so treat the melt figure as a benchmark rather than a guaranteed offer.

Check the live price of silver today before you sell, and get quotes from more than one buyer — rates vary, and competition between dealers works in your favour. Selling a larger batch at once can also improve the percentage of melt value you are offered, as fixed costs are spread across more metal.

Before scrapping anything old or unusual, check whether it has antique or collectable value that exceeds the metal content. Once melted, that premium is gone for good.