Market Insight / Sponsored Feature
Silver and gold prices are making headlines again, and for good reason. Precious metals are trading at levels never seen before, drawing attention from investors, collectors, and everyday people who may be holding silver items they’ve owned for years.
In recent weeks, silver futures prices have repeatedly hovered in the $70–$80 per ounce range, driven by inflation concerns, global uncertainty, and aggressive trading activity in the paper markets. While those numbers sound eye-opening, local sellers should understand one important distinction:
👉 The futures price of silver does not equal what someone will receive when selling physical silver locally.
Futures vs. Physical Silver: Why the Numbers Don’t Match
The silver price quoted on financial news sites reflects the paper futures market, not the physical silver market where coins, flatware, jewelry, and scrap change hands.
Local silver buyers use the futures price as a guide, but payouts are affected by several real-world factors:
- Refinery Payouts
Local buyers ultimately sell bulk silver to refineries. Even refineries typically pay 90%–95% of melt value, not 100%. - Market Congestion
When silver moves aggressively—as it is now—many refineries become backed up. During these periods, some refineries temporarily limit or refuse junk silver and 90% U.S. coin silver, shrinking margins and lowering payouts. - Volatility Risk
Silver has recently swung 10% up and down within short timeframes. Buyers must protect themselves against sudden drops, which affects how much they can safely pay. - Inflation & Operating Costs
Rising fuel, labor, insurance, and compliance costs all impact local buying operations.
The reality is simple: no physical silver transaction pays 100% of spot value unless the item carries a collectible or resale premium—such as a rare bar or round sold directly to a collector on platforms like eBay.
Why Now Is Still One of the Best Times to Sell
Despite these factors, longtime buyers agree on one thing:
Silver has never been this high before.
If you’ve been holding silver flatware, coins, jewelry, or scrap for years, today’s prices represent one of the strongest cash-out opportunities ever seen. While prices could continue climbing, they can also fall just as quickly—making short-term buying and reselling risky.
Most professional silver buyers nationwide currently pay 70%–80% of melt value, depending on form, demand, and refinery conditions.
The Importance of Selling Silver Legally in Virginia
Many sellers are unaware that it is illegal in Virginia to buy gold or silver without the proper precious metals license and certified scales.
Licensed buyers must:
- Hold a valid Virginia precious metals dealer license
- Use certified and calibrated scales
- Follow strict record-keeping and reporting requirements
This protects sellers from under-weighing, mispricing, or illegal transactions.
A Local Option: The Vintage Reseller & RoanokeGoldBuyer.com
In the Roanoke and Vinton area, The Vintage Reseller, located at 521 Hardy Road in Vinton, VA, operates in full compliance with Virginia law and also runs RoanokeGoldBuyer.com, a local precious metals buying service. Reach them at 540-389-3600
The owner has completed all required steps to legally buy gold and silver in Virginia, and their scales are professionally calibrated by Carlton Scale Company in Roanoke, ensuring accurate and transparent weights.
Unlike mailing precious metals to out-of-state refineries—an option that carries risk of loss or damage—working with a local, licensed buyer allows sellers to:
- Be present during weighing
- Ask questions
- Receive immediate payment
- Avoid shipping and insurance risks
What They Buy
The Vintage Reseller and RoanokeGoldBuyer.com purchase:
- Silver coins (including 90% U.S. coin silver)
- Silver flatware and hollowware
- Scrap silver
- Gold jewelry and scrap
- Coins, collectibles, and estate items
Their open-door public hours can be sporadic, but sellers are encouraged to call ahead. If you’re looking to sell, they will make sure someone is available to meet with you.
The Bottom Line
Silver and gold are at historic highs—but understanding how the physical market works is key to setting realistic expectations. You may not receive the headline futures price, but for many local sellers, now is still one of the strongest opportunities ever to turn silver into cash.
When doing so, working with a licensed, local buyer using certified scales isn’t just safer—it’s the law in Virginia.