Silver Scrap Price – Silver Scrap Rate in Pakistan
Pure Silver scrap price in Pakistan today stands at Rs.520 to Rs.550 per kg and sterling silver scrap price stands at Rs.500 to 510 per kg. You can have a look at the silver scrap price table below.
Silver Scrap Price per KG in Different Cities of Pakistan
City | Sterling Silver Scrap per KG | Silver Scrap per KG |
---|---|---|
Karachi | 500-510 | 520-550 |
Lahore | 500-510 | 520-550 |
Faisalabad | 500-510 | 520-550 |
Rawalpindi | 500-510 | 520-550 |
Islamabad | 500-510 | 520-550 |
Multan | 500-510 | 520-550 |
Hyderabad | 500-510 | 520-550 |
Gujranwala | 500-510 | 520-550 |
Peshawar | 500-510 | 520-550 |
Quetta | 500-510 | 520-550 |
Sialkot | 500-510 | 520-550 |
Bahawalpur | 500-510 | 520-550 |
Sukkur | 500-510 | 520-550 |
Larkana | 500-510 | 520-550 |
Sheikhupura | 500-510 | 520-550 |
Mirpur Khas | 500-510 | 520-550 |
Abbottabad | 500-510 | 520-550 |
Swabi | 500-510 | 520-550 |
Mardan | 500-510 | 520-550 |
Gujrat | 500-510 | 520-550 |
Sahiwal | 500-510 | 520-550 |
Okara | 500-510 | 520-550 |
Sargodha | 500-510 | 520-550 |
Muzaffarabad | 500-510 | 520-550 |
Difference Between Junk Silver and Silver Scrap
Here below you can have an insight about the difference between scrap silver and junk silver because more often people confuse silver scrap price with junk silver which is actually a misconception. Because usually people confuse junk silver with scrap silver which is a misconception about this particular phenomena. Here below we have explained both terms in detail. You can check updated silver rates in Pakistan by clicking on the link.
Silver Scrap
- Silver is also termed as Poor Man’s gold and has great cultural value due to its aesthetic appeal. In Asia and specifically in Pakistan and India silver is most widely used in jewelry and investment purposes as well. So due to its value as a precious metal its scrap is also sought out as a valuable item.
- The term scrap silver or silver scrap is referred to the silver which is categorized as waste while making silver products such as silver jewelry specifically. It is also extracted from discarded electronic components, solar panels, dental instruments, medical devices, utensils and decorative pieces or flatware.
- In addition with that it is a kind of silver which consists of the silver jewelry products which have completed their life span, expired or are useless to their owners, they intend to get rid of those products by selling them for less returns in the scrap market so these products also categorized in scrap silver.
Junk Silver
- The term Junk silver is referred to type silver consisting of old silver coins once used as normal currency but are outdated currently. These types of coins do not have any particular value for antique coin collectors or investors because they are not special or rare.
- These types of coins are only valuable for the silver quality and quantity it contains. Because people might buy them mainly to melt them down and sell them for its scrap metal value. Junk silver price also remains low and a matter of interest for investors, especially for newbies in business. for further information junk silver you can visit other sources as well.
Why Scrap Silver Price Remains Low?
There are multiple factors involved in the pricing of silver scrap in Pakistan. Important factors or aspects to consider are quality or purity of the silver scrap and the efforts or expenses to be invested on scrap refinement or purification and recycling or reselling in the market.
So if a kind of silver scrap is an alloy of nickel, copper or any other material and has the excessive value of alloyed metals then its price will be low, so this factor can be categorized as a major factor for the establishment of silver scrap price.
Silver Scrap Categories
Silver scrap is sorted and segregated in different chunks based on its form, type and purity after collection from various sources in the market to determine its value and process for purification or refinement to make it worth usable for a second lifespan. Normally it’s categorized in soft silver or hard silver.
How is Scrap Silver Used?
Silver scrap reuse is often termed as silver recycling. Scrap silver recycling is the process of utilizing the scrap silver in the making of new products, to repair existing damaged articles of jewelry and other items after segregation and then refinement. Silver has its multiple industrial uses as well i.e. manufacturing of electronic and medical equipment and devices, silverware production, solar panels, wires and others.
There are different methods to purify silver scrap but which method or technique is to be used depends upon the category of scrap. Melting scrap silver is a usual practice or technique used by jewelers and craftsmen in the market to use scrap silver again but keeping in view the quality of silver scrap.
Conclusion
Since the silver has multiple categories or types based on quality or purity so does the silver scrap has, pure silver is termed as fine silver which is considered 99.999% pure and after that comes less pure qualities like Britannia silver, sterling silver, jewelry silver, industrial silver and other. Silver scrap value and silver scrap price depends on the category and purity of silver it contains and the efforts plus cost it will take to be recycled.