That silver bracelet you haven’t worn in years could be worth a lot more than what you paid for it! The price of precious metal has been hitting record highs, which means anyone who owns silver pieces could earn quite the profit for them for the first time in decades. Why is the price of silver rising? We got experts to break down the details of this economic boom, plus reveal everything you need to know about selling your silver for cash.
Why is the price of silver rising?
The news that silver’s prices have hit record highs may come as a surprise to most, but experts say it can be attributed to a few different factors.
Gold’s prices are driving silver demand
It’s no secret that gold prices have been booming, prompting many people to sell their gold jewelry and other antiques they no longer want. It turns out this rise in demand for gold has led many to see silver as a Giffen good—a term that describes an inferior product whose demand actually increases when its price rises, usually because the alternative (gold in this case) is far more expensive.
“As the price of silver continues to rise, people who just want to invest for quick profits begin to jump on board,” says Joshua Glawson, writer on precious metals and the content manager for Money Metals Exchange. “Some of these investments are practical; for instance, when buying jewelry, people may opt for gold-plated silver or outright silver because the price of gold has gotten too high for many people to afford.”
Increased industrial demand
Technology companies in the U.S. and overseas are finding more ways than ever to use the metal, driving up both demand and prices.
“Many high-quality solar panels use silver,” explains Glawson. “Other technological applications include satellites, smartphones, electric vehicles, missiles and nanoparticles for biomedical use.”
As the tech industry has more need for silver, it’s likely you’ll see prices continue to rise.
Federal Reserve policies
The Federal Reserve has put a lot of focus on cutting interest rates in recent years, and inflation is still a problem in the U.S. There have also been other federal monetary policies–such as the decision to stop minting the penny—that have had economic impacts worldwide.
“Confidence in the US dollar (Federal Reserve Note) is deteriorating globally,” says Glawson.“More and more countries are cashing out of treasuries and opting for gold and silver.”
Many nations believe moving away from treasury bills, bonds and notes to focus on precious metals is best for their monetary reserves.
What this means for your silver
With the value of silver going up, you may be wondering what this means for you. The good news?
“Silver is up 145 percent year-to-date, and silver is at an all-time high, meaning anyone who owns silver is ‘in the money,” says Jose Gomez, cofounder of Summit Metals, a national precious metals retail dealer. “No one is losing money with these prices.”
Experts also expect the price to continue to rise well into 2026, so this will likely remain the case for some time. While there’s no sense of urgency if you’re looking to cash in, it may still be a good opportunity to earn extra money.
“Many silver analysts believe silver could hit $100 per troy ounce in 2026, so maybe holding out a little longer is not a terrible idea,” adds Glawson. “But if you have been holding silver for a while and want to take part in the current profit taking, sell some and keep most of it.”
You’ll likely find success with the two most-sold precious metal items sold in 2025: silver coins and bars. But silver jewelry could also earn you money!
How to get top dollar for your silver
If you’re looking to sell silver jewelry, it’s wise to do research and ensure you’re getting the best price. The first step is to weigh your pieces using a small digital kitchen scale or jewelry scale that can measure in grams.
“Remember, precious metals are weighed in troy ounces, not standard ounces,” cautions Glawson. This means you’ll have to divide the gram weight by 31.1 to get troy ounces.
Next, check the purity of the piece by looking for a “925” printed on it. This means it’s sterling silver, which is 92.5 percent pure silver.
Once you have that information, you should find that day’s average silver spot price. Then compare your piece with similar pieces online to see how much over spot price those other items are selling for. As expected, name-brand pieces will be worth higher premiums.
You can then contact a jewelry store or precious metal buyer to see if they are interested in purchasing your piece(s).
For other silver items of value such as coins or bars, seeking professional advice is usually the best route.
“To get the most money you should go to a bullion dealer (online), then a physical local coin shop, then jewelry store and lastly a pawn shop,” says Gomez. “Bullion dealers pay the most because they provide liquidity to the market.”
One market to avoid: eBay. While it’s an easy way to make money, the platform does not insure gold and silver packages. This could leave you with quite the headache if something goes wrong in the selling process.
Whether you decide to jump on the high silver prices now or wait until 2026, you could definitely earn some serious cash!
