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I found some sterling silver! Now what?
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Thread: I found some sterling silver! Now what?

  1. #1
    Join Date
    Apr 2009
    Location
    Raleigh NC.
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    1,385

    Default I found some sterling silver! Now what?

    This Sunday my wife and I did some serious deep cleaning!
    And while choking on the cloud of dust, we found some sterling silver baby spoons and a sterling silver bread basket in and old forgotten box!
    I placed them in that blue cleaning stuff that smells like rotten egg, and the tanish melted away revealing silver with a slight yellow caste. Which I think is sterling silver.

    I am not sure if the bread basket is solid silver, but the spoons are.

    There are 8 spoons in all.
    So, what should I do with them?
    Should I trade them in for bullion and if so how do I figuire how much they are worth before I take them into the local coin shop?

    What would you guys do?
    - God's Walky Talky

    "L A N . . A S T A S L E M"
    I will NOT submit to islam!

    "All that is necessary for the triumph of evil is that good men do nothing"
    Edmund Burke 1729-1797

  2. #2
    Join Date
    Apr 2009
    Location
    Raleigh NC.
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    Default

    I am going to take this new found silver to the coin shop today...
    I really need some advice on this...soon...
    - God's Walky Talky

    "L A N . . A S T A S L E M"
    I will NOT submit to islam!

    "All that is necessary for the triumph of evil is that good men do nothing"
    Edmund Burke 1729-1797

  3. #3
    Join Date
    Mar 2009
    Location
    England
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    Default

    Unless you really need the money i would stick it away and forget about it until Silver is sitting at a better price. Sterling can be melted down and fashioned into jewellry without too much messing around so it's not frowned upon by most silver dealers.

  4. #4
    Join Date
    Mar 2008
    Posts
    1,490

    Default

    Sterling ware usually brings more money for what it is. At the current PM price especially. ......I understand your excitement but you must learn control and patience if you want to get the best value. If you insist on selling it now, (which I think is a bad move), then sell it as sterling ware (it may be some rare design), and not for it's silver content to a coin dealer. (That's like sending your gold jewelry to cashforgold.com....). If it is true sterling, just multiply the weight times .925 and consider the product as how much bullion you already have, and put it back where you got it....
    Last edited by hiyosilver; 6th April 2009 at 19:44. Reason: duplicate statement
    TRUTH is not dependent on one's belief of it...
    John 14:6 Jesus saith unto him, I am the way, the truth, and the life: no man cometh unto the Father, but by me.

    "Get Real"

  5. #5
    Join Date
    Aug 2007
    Posts
    403

    Default

    Virtually all sterling silver is marked "Sterling" or ".925". Suspected items not marked need to be tested.

    If you ask one dealer, ask two...and get an estimate of value and (2) what the dealer will play/what the dealer thinks some other dealer will pay.

    This said, the best place to sell Sterling IMO is on Craigs list: no costs and non-dealer individuals are likely to pay more.

  6. #6
    Join Date
    Apr 2009
    Location
    Raleigh NC.
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    Default

    I am not thinking about selling it for cash... (That would be stupid right now)
    But rather, trading it, silver for silver... Spoon for bullion...

    Or would it be better to just get it tested for purity, weighed, lable each spoon for how much .999 silver is present in each spoon and then store it with the rest of my silver?
    Last edited by Steadfast; 6th April 2009 at 11:00.
    - God's Walky Talky

    "L A N . . A S T A S L E M"
    I will NOT submit to islam!

    "All that is necessary for the triumph of evil is that good men do nothing"
    Edmund Burke 1729-1797

  7. #7
    Join Date
    Mar 2008
    Posts
    1,490

    Default

    Do some research on the design or take it to someone who sells sterling and ask for an appraisal. trading as you're planning will not get you the best value. You already have silver, just in a different form. Diversity is good. When shtf, it will be money...and alot more than it is now. But again, if you're anxious to convert to .999, sell them as silver spoons to a customer for that, and not as scrap silver, then take the cash to buy the .999. You'll come out alot better that way. Remember the middle man always get's his cut....aka the coin dealer...This way, you are the middle man. I'm guessing that a trade off will lose you at least 25%, and likely much more.
    Last edited by hiyosilver; 6th April 2009 at 11:36.
    TRUTH is not dependent on one's belief of it...
    John 14:6 Jesus saith unto him, I am the way, the truth, and the life: no man cometh unto the Father, but by me.

    "Get Real"

  8. #8
    Join Date
    Apr 2009
    Location
    Raleigh NC.
    Posts
    1,385

    Default

    Just got back in...

    The basket is silver plated...
    So, I kept it for the wife to play with.

    The spoons weighed 5.6 troy ounces in sterling.
    I got three .999 silver 1oz. rounds in trade.

    Not great, but Not TOO bad...either
    Last edited by Steadfast; 6th April 2009 at 12:21.
    - God's Walky Talky

    "L A N . . A S T A S L E M"
    I will NOT submit to islam!

    "All that is necessary for the triumph of evil is that good men do nothing"
    Edmund Burke 1729-1797

  9. #9
    Join Date
    Feb 2009
    Posts
    143

    Default

    So you got three ounces for 5.18 ounces.

  10. #10
    Join Date
    Apr 2009
    Location
    Raleigh NC.
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    Default

    Ouch... I could look at it THAT way...

    Or I could look at it like:
    I now own 3 ounces of silver, for something useless that I randomly found in a dust filled box...
    Last edited by Steadfast; 6th April 2009 at 15:32.
    - God's Walky Talky

    "L A N . . A S T A S L E M"
    I will NOT submit to islam!

    "All that is necessary for the triumph of evil is that good men do nothing"
    Edmund Burke 1729-1797

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