Silver's Historic Price Rally Triggers Unprecedented Selling of Family Treasures
Across North America, a remarkable phenomenon is unfolding as individuals rush to sell silver heirlooms, coins, and collectibles in response to historic price increases for the precious metal. Silver prices have more than doubled over the past twelve months, even accounting for recent market fluctuations, creating unexpected windfalls for those holding silver items that have been tucked away for years or generations.
From Inheritance to Immediate Cash
Sol Glatstein, a 79-year-old Manhattan resident, exemplifies this trend. Last month, he traveled downtown to sell a pristine American Silver Eagle dollar coin inherited from his parents for $100. Previously, Glatstein had intended to pass this family treasure to his one-year-old grandson. However, the extraordinary rally in silver prices prompted him to reconsider, opting instead for immediate cash that could be used for more practical purposes.
"I have $100. I can go to Ralph Lauren and buy him an outfit," Glatstein explained after completing his transaction at Stack's Bowers Galleries, a rare coin shop on Park Avenue in Midtown Manhattan.
Unprecedented Demand at Coin and Jewelry Shops
Coin and jewelry establishments are experiencing unprecedented visitor traffic as individuals seek to capitalize on the silver price surge. Greg Cohen, a senior numismatist at Stack's Bowers Galleries, reports that daily visitors to their Manhattan location have increased from approximately 30 to 50 over the past year, with the majority arriving to sell rather than buy.
"They're bringing in items they'd completely forgotten about," Cohen observed. "Things that were just sitting in safety deposit boxes or closets, now suddenly worth significant amounts due to the increased melt value."
The phenomenon extends beyond major metropolitan areas. Gary Tancer, owner of Coin & Jewelry Gallery of Boca Raton, described the influx as "coming in droves and droves," noting that in January alone he purchased ten times his usual annual volume, with average transactions ranging between $8,000 and $10,000.
Reevaluating Silver's Investment Potential
Traditionally overshadowed by gold as a preferred investment vehicle for wealth preservation, silver is undergoing a dramatic reappraisal. The extreme price rally over recent months has prompted many to reconsider the value of silver items previously viewed primarily as sentimental keepsakes rather than financial assets.
This shift is reflected in market data. Recycled or scrap silver accounted for approximately 19% of total supply in 2025, with volumes from jewelry, silverware, and coins significantly exceeding analyst expectations. Dealers report January as their strongest month ever, driven by surging trading volumes for silver and bullion products.
Record Refining Activity
The scale of this selling wave is evident in refining statistics. Canada Gold, one of North America's leading precious metals dealers, refined a record 2 metric tons of scrap silver in December alone, according to Chris Pollock, the company's founder and managing partner.
Specific silver items have seen extraordinary appreciation. Pre-1965 U.S. silver dollar coins have nearly tripled in value since the beginning of last year, creating particularly strong incentives for owners to sell these historically significant pieces.
Despite recent price volatility, silver maintains values more than double those of a year ago, continuing to lift the melt value of silverware, jewelry, and coins above what many collectors once prized them for. This economic reality is transforming attics and safety deposit boxes across the continent into unexpected sources of liquidity during a remarkable period for precious metals markets.
