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Wednesday, February 10, 2010

Selling Sterling Silver? Don't Be Lazy!

Shop around for the best price!

Here's a concrete example of why this is true.

Last week, we purchased a set of sterling flatware from an individual. The seller was someone we had bought from in the past so we felt comfortable talking with each other about the silver business in general.

Her set contained a little more than 1800 grams of sterling. At that time, commodity silver was selling for around $16.00 per Troy ounce. That meant that her set had a silver content value of about $850.00. If she sold the set to a silver scrap dealer, the worst offer she should have gotten should have been around $450.00. The first such dealer she visited offered her $248.00!

So, if you are trying to sell your silver, invest some time in finding the buyer who will pay you the most. For more hints regarding selling, click on "Selling" under "Labels" in the right column. You may have to scroll the page down a bit.

Click on any picture to see a larger version. By clicking on "Comments/Questions" below, you can see posted comments and add your own questions and comments. Or, you can send us an email by clicking on "Email Silver Jim" in the right column.

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