Selling Your Silverware for Profit

The price of silver has dramatically increased, and most people are unaware that they can make a nice profit from selling their sterling silver flatware. While selling your old silverware at a garage sale might sound quick and convenient, you will most likely only get the minimum amount of money for it. A better idea is to research where to get the most money for your precious heirlooms.

On the back of every piece, you should look for “ster” or “sterling.” If your silverware comes from another country it will have the number “925,” or “925/1000”. 925 represents 92.5 percent silver and buyers will look for that hallmark on every piece before a purchase. This number guarantees the quality of the silver.

It is important to make sure your silverware is sterling silver because it has no resale value if it is silver-plated. Silver plated silverware is base metal coated with silver, and while it makes the end result appear to be real silverware, it is actually a lot less expensive and therefore much less valuable.

The sudden rise in the value of silver has a direct connection to the state of the economy. When the economy is strong, paper currency has more value. However, when the paper currency becomes unstable, investors look to precious metals to ensure their wealth. When the demand for these precious metals goes up, there is less of a supply, and the price rises. Right now is a great time to sell your silver!

If you are looking to sell your sterling silver flatware, The Coin Gallery of Oyster Bay will help you receive the most for your silver. There are also other silver items that you could sell to us, such as silver candlesticks, silver antiques, and silver jewelry for cash.