What’s Really Going On With Silver Right Now (October 2025)

October 14, 2025

What’s Really Going On With Silver Right Now (October 2025)

Silver prices have been climbing fast — hitting levels above $50 an ounce, the highest in decades. But if prices are up, why are so many people in jewelry and pawn forums saying, “No one is buying silver” or “I can’t find a buyer”?

Let’s break it down simply.

What’s actually happening in the silver market?

The short answer: there’s a shortage of real, physical silver, especially in London, where most global silver trades are settled.

Big trading firms and investors are scrambling to get physical bars and coins, creating what’s being called a “London squeeze.” (Financial Times)

This squeeze means it’s hard for traders to find enough metal to deliver against their contracts — not because silver has vanished, but because much of it is already tied up in industrial use or private holdings. That’s driving prices up, fast.

Why prices are high but local buyers have slowed down?

Even though global prices are soaring, local jewelry buyers, refiners, and pawnshops are being cautious. Here’s why:

Cash flow & risk: Many small buyers don’t want to buy when prices are swinging wildly — they could get stuck if the market drops.
Tight spreads: Refiners and bullion dealers are charging higher fees, which cuts into profits for small shops.
Type of silver matters: Bars and coins are easy to resell. Old jewelry, scrap, and flatware take more time, cost, and labor to refine.
Overstock: Some dealers already bought at lower prices and are waiting to resell before buying more.

So when jewelers online say “no one is buying silver”, they don’t mean nobody wants silver — they mean local small-scale buyers aren’t paying competitive rates right now.

Should I sell my silver right now?

It depends on what kind of silver you have:

If it’s clean bullion or coins:
You’ll likely get close to spot price minus 5–10%. Prices are strong, and it’s a good time to lock in profits if you’ve held silver for a while.
If it’s jewelry or scrap:
Expect around 60–80% of melt value, depending on purity and buyer demand. Call a few local jewelers, pawnshops, or mail-in refineries for quotes.
If it’s silver-plated:
Unfortunately, it’s usually worth very little — often less than the cost of refining. You might only get paid for the base metal, not the silver coating.

What’s the current price of silver?

As of this week, silver is trading between $50–$53 per troy ounce on the world market.

You can check live silver charts here:

Why are buyers offering less than “spot price”?

The spot price you see online is for large wholesale trades (usually 1,000-oz bars). When you sell jewelry or smaller pieces, buyers deduct for:

Refining and assay fees
Handling and labor
Risk (market could dip before resale)

So don’t expect the full spot price — getting 70% or better for clean sterling silver jewelry is actually reasonable right now.

Is silver going to keep going up?

No one knows for sure, but analysts like Bank of America recently raised their forecast to $65 per ounce due to tight supply and record industrial demand. (MarketWatch)

Still, the silver market is volatile — prices can swing 5–10% in a day. If you’re sitting on silver you bought cheap, now might be a great time to take profit. If you’re thinking of investing, do it slowly and watch for corrections.

What about sterling silver jewelry and flatware?

Here’s a quick cheat sheet:

Type of Silver	Purity	Realistic Offer Range	Notes
.999 Fine Bullion	99.9%	90–95% of spot	Easy to sell
.925 Sterling Jewelry	92.5%	60–80% of melt	Depends on design and buyer
Silver-Plated Flatware	Thin layer	Usually $0	Often not worth refining
Coins (U.S. 1964 & earlier)	~90%	85–95% of melt	Highly liquid

If you’re unsure what you have, check for hallmarks like “925,” “Sterling,” or “Coin Silver.” Avoid wasting time shipping plated or magnetic pieces.

Where should I sell my silver?

Best options:

Reputable local jeweler or coin shop (avoid pop-up “cash for gold” events).
National mail-in refineries like A-Mark Precious Metals or Midwest Refineries (they list payouts online).
Online marketplaces like Apmex or JM Bullion (for coins and bars only).
eBay / Facebook Marketplace if you know your item’s true silver weight and want to sell directly to collectors.

Always compare at least two or three quotes before accepting any offer.

Bottom line

The silver market is in a strange place right now: prices are at record highs, but local liquidity is tight.

If you’re holding coins or bullion, this may be one of the best times in years to sell.

If you’re holding plated or low-purity silver, you may want to wait or repurpose it — buyers just aren’t paying much for that right now.

The chaos you’re hearing about — the “London silver squeeze” — isn’t fake news. It’s a sign that the world’s silver supply chain is under stress. But for everyday sellers, what matters most is purity, weight, and timing.

Sources:

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