MMTC-PAMP, India’s only London Bullion Market Association (LBMA) Good Delivery gold and silver refiner, has announced the launch of the industry’s first organised buyback offering for silver coins, bars and jewellery. The service will initially be available across select retail stores in India.
Currently operating 17 stores for gold recycling, MMTC-PAMP plans to extend its streamlined and transparent buyback services to silver across these centres. In the first phase, silver recycling will be introduced at select exclusive brand and purity verification stores in Kolkata, Bhubaneswar, Guwahati, Ludhiana, Ahmedabad, Mumbai and New Delhi. The company aims to expand the service nationwide in the next fiscal year.
Speaking on the launch, Mr. Samit Guha, Managing Director and CEO, MMTC-PAMP, said, “Indian households collectively hold approximately 35,000 tonnes of gold and much more silver. While the silver mine production capacity, globally, is not expanding significantly, the demand for the white metal seems to be growing at a much faster rate. Given the current scenario, we expect recycled silver tol play a key role in meeting the current supply-demand gap.”
Customers can access the silver buyback service by visiting MMTC-PAMP’s Purity Verification Centres, where their silver items are assessed through a secure and transparent process. Coins, bars and jewellery are melted and tested using XRF technology, ensuring precise purity evaluation under strict security surveillance. Following documentation, the silver is valued based on prevailing market buyback rates, with instant payouts transferred to the customer’s designated bank account.
The service ensures a transparent experience with live purity verification and accurate valuation. Customers also have the option to purchase physical gold or silver coins and bars from MMTC-PAMP, all certified with 999.9+ purity.
Each MMTC-PAMP product undergoes a rigorous refining process and carries a unique identification number for authenticity. Products are packaged in Assayer-certified minted cards, while silver offerings also include positive weight tolerance, ensuring customers receive value exceeding the stated weight.
