What is Sterling Silver Really Worth ?

[gunDriller]

I have access to a stash of about 1000 ounces of Sterling that I am thinking of making an offer for.

I am reluctant to pay more than 90% of spot (unless I was buying my mother's silver silverware, which is not the case here.)

I don't want to go over-board with goofy Silver Adoration Syndrome (SAS), where you over-pay because you love silver so much.

I have seen some stores pay 2/3 to 3/4 of spot. I figure at this point 80% would be an insult, because it's a collector's collection.

Maybe 85% would be a good compromise ?


I have 2 books about Silver Hallmarks but Oh My God there is a lot to learn. I think by the time I learn it all, Silver will be in triple digits dollar-wise.

[palani]

A pound Sterling is worth one pound (Sterling). How is that for value?

[gunDriller]

A pound Sterling is worth one pound (Sterling). How is that for value?

that sounds good but when I try to think about it my brain sort of collapses.

[madfranks]

I've never had a problem selling sterling silver at all. It is one of the most common alloys out there. Hell, coin silver is only .900 fine, sterling is .925.

If you're buying it purely for silver content, 85% sounds like a reasonable offer. If it's collectable sterling (ornate spoons, plates, serving ware, etc) he may want you to pay for the collectable value as well. The problem is, that dealers and shops don't give a shit about collectable value of sterling, they will pay you based on silver spot only.

[Spectrism]

First, be careful that it is not counterfeit. Anyone can stamp metal with some hallmark. If the owner has had it a long time, it is likely good. That kind of volume- test it.

What form is it in? Bars? Silverware? Candle sticks? Bowls? Be especially cautious with bars.

What do they want for it? If it is a private sale, don't offer more than you have to.

[gunDriller]

First, be careful that it is not counterfeit. Anyone can stamp metal with some hallmark. If the owner has had it a long time, it is likely good. That kind of volume- test it.

What form is it in? Bars? Silverware? Candle sticks? Bowls? Be especially cautious with bars.

What do they want for it? If it is a private sale, don't offer more than you have to.

a good point.

There was a Sterling Silver bowl on Craigslist recently, $200. Tempting. Looked to be about a pound at least.

That's different than some guy sitting in a store. i.e. there's a greater chance that the CL offer is bogus. Could just be a nice piece of Silverplate and some Schlemiel with a stamp that says .925.

[palani]

Could just be a nice piece of Silverplate and some Schlemiel with a stamp that says .925.

A magnet can be your best friend.