TUCSON, Ariz. (KGUN) — The price of silver is climbing. As global markets fluctuate, buyers in Tucson are seeing more people cash in on their old jewelry and forgotten coins.
Buyers say the market can change quickly which is why sellers are choosing to trade now, while the value is still high.
“Silver is an industrial metal, not just a jewelry metal," said Kevin Potter, owner of Potter USA, a manufacturer of artistic metalworking tools.
The demand is pushing prices higher than many jewelry and metal experts like Potter have ever seen.
“Every morning I check the prices and I've never seen them climb like this. This is pretty unprecedented," Potter said.
Right now, the price of silver is ranges between $87-$89 per ounce. At the start of 2025, silver was trading at about $30 per ounce.
“Silver is fluctuating because there's a big industrial demand for it for solar panels, batteries, AI [data] centers," he said.
With high prices, people may rush to sell, but Potter warns the market can change quickly. So, should people sell their family heirlooms and coins now?
“It's hard to say. If you need the money, well, sure, sell your silver. But if you don't need your money, if you don't need the money, I would just hold on to it," said Potter.
If you choose to sell, Potter says it’s important to know what kind of silver you have.
“There's silver plate, there's coin silver, and there's sterling silver.”
He notes that older U.S. coins may be worth more than their face value.
“If you've got pre-1964 dimes, nickels, and quarters, they're worth dollars, not nickels and dimes," Potter said.
Potter says understanding what you own and where you sell it can make all the difference as the market fluctuates.
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Jacqueline Aguilar is a multimedia journalist at KGUN 9. Born and raised in Yuma, AZ., she is no stranger to the unforgiving Arizona heat. Now this U of A wildcat is excited to be back in Tucson and is looking forward to involving herself in the community. Share your story ideas with Jacqueline by emailing jacqueline.aguilar@kgun9.com or connecting on Facebook, Instagram or X.
