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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
 Posted - 09/15/2008 : 09:41:36
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I was thinking of buying some now off of craigs list.
Many of the ads give the weight of the items. Does anyone know what the silver content is of utensils - 100%? 90%?
Also, what sort of premium do place settings normally carry to the price of the silver itself?
I am thinking along the lines of buying my wife a present here but knowing that it has very strong appreciation potential.
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Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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moboman
1000+ Penny Miser Member
USA
2555 Posts |
Posted - 09/15/2008 : 10:15:29
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Unless it is a whole set or it is a nice/rare set, you can normally get it for below melt. Sterling is 925 silver.
I'm no expert just thought I'd post this, since no one else has replied. |
"99% of all lawyers give the rest of them a bad name" 
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 09/15/2008 : 12:41:41
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Some of it is tricky...especially knives. The handles may be sterling and stamped as such, but usually the blades are stainless, but I say go for it. There are some good deals out there. Just be aware that the going rate for scrap sterling is like 88% of spot.
So I would figure break-even at troy weight * spot * .925 * .88 and don't count the knives. Maybe, offer them a token amount for the knives keeping in mind that if you want to scrap you are going to have figure out how to separate the silver from the steel. From there, subtract 10% or whatever you want your profit to be.
I use to do this on E-Bay, but I have not tried lately. I would snipe maybe 25 auctions a day and win one. I got about a half bucket of sterling bought below scrap to show for it... |
Edited by - horgad on 09/15/2008 12:43:33 |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 09/16/2008 : 07:52:54
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i'm interested more in terms of getting something nice that i won't be able to afford ever again.
so sterling is typically .925 pure? with that information i can figure out the premim of the offered price to the melt value.
i'm looking at gorham or something else that is nicely crafted, and looknig for a complete set. any idea on what the typical premium is for that over spot? |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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kavajava
Penny Collector Member
USA
490 Posts |
Posted - 09/17/2008 : 02:41:33
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check out: You must be logged in to see this link. they usually have the best prices on sterling silverware. This will give you an idea of what is a good price for an actual set...
BUT--keep in mind that your current/future wife will probably have definite opinions on what she wants as "your" pattern...other married guys can chime in here, but...don't spend a lot on a set she may not like--you could hedge your bets and just buy silver bullion, with the intention of trading it in later to buy a set you "both" like... |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 09/17/2008 : 11:17:22
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| i think replacements despite their name is for brand new stuff. they have good prices for retail. you can do much better on ebay at least for sets. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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Saul Mine
Penny Collector Member
USA
343 Posts |
Posted - 09/19/2008 : 08:48:33
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A sterling set of knife, two forks, and teaspoon averages 1 troy ounce per piece. That would be 1/2 oz for the knife handle, 1 oz for the salad fork, 1.8 oz for the dinner fork, and and .7 oz for the teaspoon. So you can simply count the pieces. Other spoons (5 o'clock, salt, whatever), seafood spears, swizzle sticks, don't weigh enough to count.
My refiner pays 88% of actual silver content. For sterling that would be .814 x spot. Deduct a couple dollars for your effort and shipping and you have to offer $9 to $10 an ounce if spot is $14.
A candlestick has only a very thin layer of silver on the outside. If it's a foot tall it will have just under one oz silver. The rest is an iron rod and wax or plaster. A three-hole candelabra might have as much as two ounces. And that goes for anything marked as "weighted". |
A penny sorted is a penny earned!
Please use tinyurl.com to post links. Long links make posts hard to read. |
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simplicitycounts
Penny Hoarding Member
USA
535 Posts |
Posted - 09/19/2008 : 08:52:48
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| Be careful. I've seen a lot of silverware sets at yard sales and auctions that are in a Sterling Silver Box, but the items are nickel silver plate, or community plate. So the person who says they have sterling silver for sale might be trying to sell you a set of brass utensils. |
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n/a
deleted
8 Posts |
Posted - 09/19/2008 : 16:11:30
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| Saul, how do you find a trustworthy refiner? |
"If at first you don't secede, try, try again!" |
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kavajava
Penny Collector Member
USA
490 Posts |
Posted - 09/19/2008 : 20:49:11
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quote:
Originally posted by Jonas Parker
Saul, how do you find a trustworthy refiner?
Saul references You must be logged in to see this link. in another post, and that is a name that I see over and over again as being reputable (although I have never used them myself). |
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n/a
deleted
8 Posts |
Posted - 09/20/2008 : 15:24:33
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quote:
Originally posted by kavajava
quote:
Originally posted by Jonas Parker
Saul, how do you find a trustworthy refiner?
Saul references You must be logged in to see this link. in another post, and that is a name that I see over and over again as being reputable (although I have never used them myself).
Thank you! |
"If at first you don't secede, try, try again!" |
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Sterling Silver Silverware
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