Sterling Flatware Rules of Thumb

[CC-Hunter]

Until today I've never tried to buy gold or silver items (other than coins) at garage sales since I do not know a lot about it and figured I would make a mistake. I also did not want to pull out a scale and weigh things. This morning I came across two sterling silver teaspoons in nice condition. Asked how much and the guy said $10 for both. I thought about it for a few seconds and figured that I had little to lose. When I took them home and weighed them and did the math (thank you Coinflation app) I found out they had over $45 in silver value. I may sell them on ebay as replacements rather than scrap, we'll see.

Anyway, when you sharper silver buyers are out at estate and garage sales, do you have rules of thumb when it comes to estimating the value or determining a good price on sterling flatware? Something like $X a teaspoon, $Y a fork and so on? Thought it would make it easier to buy sterling on the fly when opportunities arise.

Thanks

 

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[vpnavy]

Not bad for your first silver buy (and sure member's will pipe in shortly with rules of thumb...) CC-Hunter - thanks for sharing...

 

[isabella1]

Nope. I just buy it. Unless its crazy prices. If they know what they have then ill usually walk. Or try to bundle it with something else. Like today the lady wanted $20 for the ds, $35 for a sterling bracelet and $15 for a bracelet. I offered her $50 for all and she took it. 110 grams of sterling. But I'll make my money back on the Nintendo ds.

 

[Lost&Found]

I've been picking up silver and hoarding it for the past 30 years. What started me off was when I saw a news video clip on how homeless alcoholics got their drinking money by finding silver items cheap and selling it for scrap value.

Over the years I have paid as low as 25 cents an ounce and recently no more than $10 an ounce. My most recent $3 purchase was a weighted candle stick which yielded 2 troy ounces after the plaster weight was removed.

Your "investment time frame" should determine how much you are willing to pay.

In short, I feel comfortable when I can at least double my money.

 

[EccentricInTexas]

Its hard to say some spoons and forks weigh more then others, I take a pocket scale with me. You can get them off Ebay for a few bucks. They have an alligator clamp and weigh in ounces and Grams. I remarked mine to have quarter, half, three quarters, and one Troy ounce. The thing has made me quite a bit of money at garage sales and flea markets over the years. Even a few times at antique stores.

 

[Red James Cash]

Careful on what silver utensils you sell for scrap.The thinner the silverware the older it is.Silver wasnt cheap way back when,the utensil could certainly have more antique value than its silver weight value.


A RARE SET OF EIGHT SILVER TABLESPOONS
MARK OF PAUL REVERE, BOSTON, CIRCA 1790


Price Realized

$56,250 (Set Currency)

Estimate

$50,000 - $80,000

A RARE SET OF EIGHT SILVER TABLESPOONS | MARK OF PAUL REVERE, BOSTON, CIRCA 1790 | Silver & Objects of Vertu Auction | late 18th Century, spoon | Christie's

 

[CC-Hunter]

There weren't rare at all, but I'll keep on the lookout for Paul Revere's spoons!

Sold the pair on ebay for 41.99 - I'll take that on a $10 purchase all day (even after fees and shipping). The same spoons had typically sold on ebay for no less than $25 per, so from that standpoint I let them go cheap. Threw more jewelry/scrap on ebay last night that I found around the house.

 

[packerbacker]

As a rookie, I have difficulty identifying what I should buy and what I should pass on. The other day I was at a yard sale and they had a set of silver "looking" candle holders. They felt heavy but didn't identify the marks. What do you look for in silver?

 

[diggummup]

As a rookie, I have difficulty identifying what I should buy and what I should pass on. The other day I was at a yard sale and they had a set of silver "looking" candle holders. They felt heavy but didn't identify the marks. What do you look for in silver?

"What do you look for in silver?" -- Marks.

More specifically the word sterling or .925. Foreign silver is different sometimes. You have to familiarize yourself with the basic hallmarks of different countries.

The more you handle it the easier it will be. The look, feel and even smell comes into play before you even see the marks. We all know marks can be faked too.

Read up- Online Encyclopedia of Silver Marks, Hallmarks & Makers' Marks

 

[packerbacker]

Thanks dig. I tried a strong magnet on a fork yesterday and it didn't stick at all. Thing is, it wasn't silver I guess but how come the magnet didn't work on it? Got me puzzled.

 

[diggummup]

In short, many silver plated items have a solid copper core, others can have a copper alloy mixed with brass, nickel, zinc, white metal. All of which won't stick to a magnet.

 

[MUD(S.W.A.T)]

Know the current spot price for silver. (.925 AKA Sterling) Right now I think its about 68 cents per gram. I just guess the weight of items and do the math. Seems to work for me...

Keep @ it and HH !!

 

[vwayne1]

Using a magnet on suspected gold and silver is as bad as rubbing pearls on your teeth. Very outdated , like about 30-40 year outdated. Not much ferrous metal under plating and they have been making good quality fake pearls with the feel of the real thing for a long time.

 

[packerbacker]

I guess about all you can go by is the markings. Hi there Mud, haven't seen you for a while. Did you ever check out the Trumansburg Fairgrounds??

 

[MUD(S.W.A.T)]

I guess about all you can go by is the markings. Hi there Mud, haven't seen you for a while. Did you ever check out the Trumansburg Fairgrounds??

That place is hammered so hard... Its good to collect clad quarters and maybe a ring once in awhile. Nearly Impossible to find something old, but I did find a wheat this year. I visit there a few times a year !

Keep @ it and HH !!

 

[palidin20603]

What about a rare earth magnet? Doesn't that work for telling gold and silver? That is what the cash for gold guys and scrapers use

 

[diggummup]

What about a rare earth magnet? Doesn't that work for telling gold and silver? That is what the cash for gold guys and scrapers use

Read replies number 11 and 13. Same goes for gold.
I know this thread is about silver flatware but... With that being said, some of the fake coins being made in China will stick to a magnet so it's a good idea to carry one with you just in case you happen upon any old silver dollars, Eagles or the like. This is where having a small digital pocket scale comes in handy too.

Here read up-

Contemporary Fake Silver Dollar Guide | Meridian Coin

Buyer Beware: Fake Silver Eagles Surface Amid Rising Precious Metals Values | The Daily Sheeple