Buying, Selling & Borrowing
Selling or Exchanging Old Silver
How jewellers value old silver and how to get the best price.
Rates as on 29 September 2026 · Updated 29 September 2026
Today’s silver (Delhi)
₹2,40,000/kg
₹240 per gram, excl. GSTOverview
Old silver is valued on net weight and tested purity. Jewellers typically deduct a few percent for melting and refining losses; making charges are not refunded. Hallmarked pieces are easier to value.
| Particular | Details |
|---|---|
| Valuation | Net weight × purity × buy rate |
| Typical deduction | ≈ 3%–15% |
| Testing | XRF / acid test |
| Tax | Capital gains on profit |
Tips
- Get an XRF test and written purity
- Compare buy rates at 2–3 dealers
- Remove stones/lac before weighing where possible
- Keep invoices for cost of acquisition
Frequently asked questions
Do banks buy back silver coins?
No — sell to jewellers or bullion dealers.
Silver rates are indicative market references (29 September 2026) and change during the day. Rules on tax, hallmarking and investment products can change — verify with official sources. FinancePortal does not sell silver.