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If the gross weight of the chain is 3 ounces, you still need to determine the silver content of it -- it probably is not 100% silver -- it's probably mixed with some amount of copper for strength.

Once you have determined the exact silver content in Troy ounces, then you can multiply it by the current silver spot price -- which is about $17.00 as of 12/22/09

Se the related links for a link to the Kitco website, where you can monitor daily silver spot prices.

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Q: How much is a 3 ounce silver chain worth?
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