I often get many questions on silver, be it on jewelry, coins, silverware, electrical contacts and more so I decided to compile a listed of the questions and my answers here on what we’ll call the silver faq page. With the recent increase in the price of silver more and more people are looking into liquidating their unwanted material and getting a bit of cash for it. Silver is a funny thing, many people starting out buying scrap avoid it as they think there’s no money in it which is good for me, it can be quite profitable if you’re buying it in bulk but even bits and pieces add up over the course of a year or so. We also run gold parties and most of our competitors don’t purchase silver but we do, you don’t get a great deal from one party but it adds up to kilograms over a month or two. The only problem is that most older ladies bring in their ‘silverware sets’ which tend to be silver plated and not something we purchase.
I have listed some of the more common questions below, if you an inquiry about your items, be it silver, gold or platinum feel free to use our contact form and I’ll try to give you some advice if I can.
Silverware:
Q: I have 52 piece set of 1847 Rogers “Eternally Your’s silverware that I am looking to sell, is this something you would purchase? If yes would you be able to provide an approximate purchase price. Thank you.
A: We purchase sterling silverware, unfortunately 99.9% of the Rogers Bros flatware is silver plated, unless is it stamped/hallmarked with one of the following: 925, Ster, Sterling, Sterling Silver or Stg
… it is not something we would purchase. Rogers Bros flatware is copper or brass with a silver plate. Good luck with your items.
Q: I have most of a 12 serving sterling flatware service, as well as several sterling personal grooming items (mirror, brush, nail file, comb) and some silver rings that I am interested in selling. Are these items that your firm would likely be interested in purchasing?
Understanding that you can’t possibly know the weight/value of my items, what might be a typical payment for, say, a sterling silver dinner fork or knife?
A: The weight/value of sterling silverware varies greatly from maker to maker. I purchased 2 sets yesterday from a lady and paid her just over $1,700.00. They were fairly heavy sets totaling over 5000 grams. Most sets are not that heavy.
Having said that a fork can be anywhere from 25 to 45 grams, larger spoons the same, smaller spoon around 20 grams. Knives are different and are usually ‘loaded’ with resin or stainless steel with only the cover of the handle being sterling silver at approximately 15 grams.
A sterling silverware set can fetch anywhere from $200.00 to $1,200.00 depending on the number of items and weight. Hope that helps, yes we would purchase your items if you’re looking to sell.
Q: How do we find out what you would pay for sterling 950 tea pots and a large platter?
A: We do purchase sterling and higher grade silver, price is determined by weight so it’s difficult to give you a price without knowing the items weight and if it is loaded with another material. We are currently paying .33 cents per gram for 950 silver. You need to be certain that it is 950 silver and not silver plated as we do not purchase silver plated items.
Silver Bullion:
Q: Do you buy silver bullion at market value?
A: We purchase all bullion and pay 93.5% of spot price.