Interesting article about silver and reselling sterling silverware
WillieBoyd2
Posts: 5,199 ✭✭✭✭✭
Keep it or sell it? Deciding what to do with the family silver
From the San Jose Mercury News, July 7, 2022:
There's no right and wrong here, but if you, too, have inherited the family silver, you should know what you have and what it's worth. Just don't base "worth" on what the silver you own would cost new today - or even used.
"Although new sterling flatware costs around $1,000 a place setting, you can barely give it away used," said Sandy Bourbonnais, owner of Silver Superstore, a Seattle-based online and brick-and-mortar store, which she and her husband opened 23 years ago.
Thus, many sell their silver for its melt value instead. I took my silver chest to Orlando Estate Buyer in Winter Park, Fla., where owner Daniel Montesi weighed it in troy ounces and, based on that day's silver price, offered to buy it for $1,300, one-tenth what it would cost new and less than half of what it would cost used.
Meanwhile, silver preservationists, like Martin Biro, part owner of San Francisco's Biro & Sons Silversmiths, says, "To us, melting sterling silver is like burning books or art."
Here is the whole article which may ask for a subscription:
https://www.mercurynews.com/2022/07/07/keep-it-or-sell-it-deciding-what-to-do-with-the-family-silver
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Comments
And I thought Franklin Mint was a rip.
Do an internet search. There are a few firms that do a significant silver matching service business that need to buy. The key is to identify the pattern.
Young people could care less about sterling silver.
The same is true for fine china dinnerware. They are things that belong to a past generation.
If the price were good at a yard sale, I would buy it for silver content. I have seen a few, but they were priced close to modern retail.... No thanks. Cheers, RickO
auspicious timing for this thread. i just finished going through a stack!
gorham/rogers/sheffield etc
here is the thread i had intended on starting, for fun, probably within the hour or so after you made this thread!