Help understanding the value of coin silver and other things.
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‎07-11-2019 11:35 AM
I have quite a bit of coin silver...mostly serving spoons. One example is a serving spoon by N. Harding & Co, Pat. 66. It is 8 7/8 " long. I weighed it and it was 62.67 grams. I checked out a silver to dollars converter and it said it would be worth $27-28. Is that what the spoon should sell for on Ebay? Why do people always want to know the grams of silver flatware? Do they want to melt them down for the silver?
I love the soft feel of coin silver more than sterling and it is as beautiful. Does anyone else feel that way?
Well that's all my questions for now. If someone feels like answering, I would be interested. Thanks.
Re: Help understanding the value of coin silver and other things.
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‎07-11-2019 11:48 AM
yes, many buyers on eBay are looking for silver to scrap, and they look for people who aren't aware of its scrap value OR are speculating that silver will go up. I've had limited success in selling coin silver spoons unless they are embellished with birds or other elements instead of simple monograms. A lot of times, these spoons are very beat up as well.
Rule of thumb that I use is, if you can't get at least 20% more than scrap value (because you are going to be paying ebay and paypal fees) it's better to scrap it.
Re: Help understanding the value of coin silver and other things.
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‎07-11-2019 11:56 AM
Coin silver, or for that matter, anything of silver content, has a value just due to the silver content alone. Many people don't grasp that concept because silver is a commodity, like gold, copper, wheat, corn, or any other commodity, and as a commodity, the value changes every day. Coin silver is melted down old coins, made into flatware, mostly by local jewelers, and mostly in an 1850-1880's era where people didn't have access to buying good flatware any other way. We have bought and sold silver here for many years, and during that time period the quoted value of silver has gone from about $4.50 per troy ounce (about 31 grams), all the way up to $50 per troy ounce, and then back down to the current price of around $15 per troy ounce. Again, the actual intrinsic value of the base silver metal changes daily, and coin silver is 90% silver, and sterling is 92.5% silver. There are collectors for coin silver flatware, and it does sell here on eBay, but condition matters a lot, and if it is dented, or bent, or damaged, then it is essentially scrap silver, which is just worth the base silver value, or perhaps even less. Much also depends on the maker, and some come old coin silver marks are much more highly desirable, than others. Just search on eBay, or on other sites, and you can learn much how desirable your makers mark might be. I'll stop there, and give others a chance to speak. Good luck with your coin silver items.
Re: Help understanding the value of coin silver and other things.
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‎07-11-2019 12:05 PM
Re: Help understanding the value of coin silver and other things.
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‎07-11-2019 12:06 PM
Re: Help understanding the value of coin silver and other things.
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‎07-19-2019 07:53 AM
@jrkirk wrote:Coin silver, or for that matter, anything of silver content, has a value just due to the silver content alone. Many people don't grasp that concept because silver is a commodity, like gold, copper, wheat, corn, or any other commodity, and as a commodity, the value changes every day. Coin silver is melted down old coins, made into flatware, mostly by local jewelers, and mostly in an 1850-1880's era where people didn't have access to buying good flatware any other way. We have bought and sold silver here for many years, and during that time period the quoted value of silver has gone from about $4.50 per troy ounce (about 31 grams), all the way up to $50 per troy ounce, and then back down to the current price of around $15 per troy ounce. Again, the actual intrinsic value of the base silver metal changes daily, and coin silver is 90% silver, and sterling is 92.5% silver. There are collectors for coin silver flatware, and it does sell here on eBay, but condition matters a lot, and if it is dented, or bent, or damaged, then it is essentially scrap silver, which is just worth the base silver value, or perhaps even less. Much also depends on the maker, and some come old coin silver marks are much more highly desirable, than others. Just search on eBay, or on other sites, and you can learn much how desirable your makers mark might be. I'll stop there, and give others a chance to speak. Good luck with your coin silver items.
Silver prices have gone up since the post above 8 days ago, and it is now roughly $16.50 per troy ounce, vs $15 or so 8 days ago. The point being that actual silver value on anything listed before the 7/11 post above, now has an actual silver content value about 10% higher.
Re: Help understanding the value of coin silver and other things.
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‎07-19-2019 08:49 AM
Re: Help understanding the value of coin silver and other things.
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‎07-19-2019 08:57 AM
Yep, you are welcome, and I thank you as well. I thought something sounded familiar about melody, but didn't check it out further. I am working on the next batch, but it will take a while at the rate I find scrap here. Thanks again!
