Selling Silver in India: The Complete Guide for 2026

Silver is significantly more volatile than gold and traded at much lower per-gram values — but Indian households collectively hold enormous quantities of it in utensils, idol sets, coins and old jewellery. If you are sitting on unused silver, here is how the valuation works.

What silver items we buy

• Silver jewellery — necklaces, anklets, payal, bangles
• Utensils — thalis, bowls, glasses, serving spoons
• Idols and deity figures — Lakshmi, Ganesha, religious sets
• Coins and medallions — gift coins, commemorative pieces
• Silver bars and ingots

How silver purity is measured

Fine silver is 999 or 99.9% pure. Most Indian silver jewellery and utensils are 925 (sterling, 92.5% pure) or 800 (80% pure — common in older items). XRF testing identifies the exact purity just as it does with gold.

The live silver rate

Silver trades on MCX in rupees per kilogram (not per gram like gold). At writing, the MCX silver rate is approximately ₹95,000–₹1,05,000 per kg, though this fluctuates significantly. Offers are based on the MCX rate at the time of testing, adjusted for purity and net weight.

Silver rates move more sharply than gold — by 3–5% in a single day in volatile markets. Check the MCX rate on the morning of your appointment.

Practical tips

• Clean your silver lightly before weighing — heavy tarnish does not affect value but makes XRF readings cleaner
• Bring any original certificates or hallmark paperwork if available
• Large idol sets may have non-silver components — gilded copper bases, stone eyes, etc. — which are excluded from the offer
• Silver coins with numismatic (collector) value may be worth more sold to a coin dealer than to a bullion buyer