Melt value of Sterling Silverware?

JJM

Someone wants to dump a few sets on me
What should I pay per ozt?
Is there a rule of thumb for these things?
Thx

MsMorrisine

the question to ask is about how to value the knives. (non-silver blade)

sterling is 92.5%. weigh it and account for the knives, then go back of spot some. The some is the other part you need to know. I don't have that answer either.

WildIdea

Some pieces patterns are actually more valuable than their weight. Do some pattern homework to find the names of the patterns. One can look up retail values at replacements.com for a rough idea. I cringe thinking of killer pieces going up in smoke.

ranger1202

@WildIdea said:
Some pieces patterns are actually more valuable than their weight. Do some pattern homework to find the names of the patterns. One can look up retail values at replacements.com for a rough idea. I cringe thinking of killer pieces going up in smoke.

Especially complete sets. I have a few sets of sterling flatware I have zero use for but they are worth far more than their intrinsic silver value.

MsMorrisine

True

mbogoman

Very tough to sell these days for much more than melt. I just spent several months trying to sell my parent's full set for 8 on Ebay, 56 pieces total, including the original blonde maple storage box. It was a very nice, mid-century modern Reed and Barton set. Not one bona-fide offer, not even for melt. Unless it's a particular pattern that somebody is looking for, good luck. I finally ended up selling it to Midwest Refiners for 90% of melt.

And yes, the knives present a problem in figuring the total silver weight. If you sell for melt, you've got to bust out the stainless blades from the handles (or pay to have it done by the refiner)

ranger1202

@mbogoman said:
Very tough to sell these days for much more than melt. I just spent several months trying to sell my parent's full set for 8 on Ebay, 56 pieces total, including the original blonde maple storage box. It was a very nice, mid-century modern Reed and Barton set. Not one bona-fide offer, not even for melt. Unless it's a particular pattern that somebody is looking for, good luck. I finally ended up selling it to Midwest Refiners for 90% of melt.

And yes, the knives present a problem in figuring the total silver weight. If you sell for melt, you've got to bust out the stainless blades from the handles (or pay to have it done by the refiner)

Thats true, the market is tough right now for sterling. Especially mid-century modern. I have a 10 place Georg Jensen (1959) set I bought for around melt and it is "valued" at considerably more. I haven't tried to sell it and will not but I imagine I would have a tough time getting its full "value". On the other hand, 1800s or turn of the century english sterling from from prominent makers generally sells significantly better than melt (and "valued" at much more). I'm an optimist and feel like sterling items will make a comeback one day and see this time as a buying opportunity. This should be especially true if flatware and tea sets continue to be melted down. I'm in my 30s so I have time to wait and see.

ricko

If not of collector value, then break out the knife blades, weigh the set, compute melt value and figure you will get 85-90% of that....Cheers, RickO

USASoccer

I still purchase it at 40 cents a gram and am holding for the long run...

biosolar

I too purchase at 40 cents a gram, except the large dinner knifes which I figure at $5-$7 each. That may be a little low on the
dinner knifes, but in order to get it exactly right you would have to pull the blade out and remove the wax from the handle
which a fair amount of work in it self.

USASoccer

@biosolar said:
I too purchase at 40 cents a gram, except the large dinner knifes which I figure at $5-$7 each. That may be a little low on the
dinner knifes, but in order to get it exactly right you would have to pull the blade out and remove the wax from the handle
which a fair amount of work in it self.

What I do with them is: the total weight x .4 then x .2

1630Boston

@USASoccer said:

What I do with them is: the total weight x .4 then x .2

Are you talking about the knives
Thanks @USASoccer

AUandAG

I never pay for knives. Most, if not all, refiners will not take knives and the reason? They have handles filled with epoxy or lead or such. But just a think outer shell of silver. Not worth the effort, or cut fingers, to remove the silver from the blades and epoxy. If I do get them it's for free. Then when the grandkids come over I let them separate the metals/glue and epoxy and then they get the money if it's clean enough for the refinery. I found that age 10 or above is a must or you have crying, cut fingered kids!
bob:)
Oh, and I pay 32¢ a gram. I tell the customer what they are worth retail on ebay and also the pitfalls on ebay. Let them make the decision as to take my cash now, or do it themselves.................I rarely get turned down.

bob

Mission16

@JJM said:
Someone wants to dump a few sets on me
What should I pay per ozt?
Is there a rule of thumb for these things?
Thx

Any of it Oneida?

TwoSides2aCoin

Pay less. It's worth less, especially when "they're dumping it". That's been a good strategy for me.

rte592

One local shop pays -25% of silver value and doesn't account for the knives in weight.
The work involved in removing the blade negates the value for them.

metalmeister

We just use silverware everyday now.