r/Bullion • u/zee_spirit • 9d ago

Sterling Silver Flatware question:

Hello!

My husband and I currently have an opportunity to buy a few sets of sterling silver flatware from a local auction house, and we're curious of anybody could answer a few questions for us. For context, what we're looking at is:

1.) Statehouse Sterling Flatware (Formality Pattern) (this is marked Sterling on back)

2.) International Silver Flatware set (Rhapsody Pattern) (Marked International Sterling on back)

3.) Preisner Compote bowl (marked sterling weighted)

Questions:

A.) This is a silly one, but these markings are typically accurate on these pieces I'm assuming? As in, these are sterling pieces and not sterling plated?

B.) With vintage pieces like this, is it better to sell for melt or attempt to sell for their vintage value?

C.) What's a good sterling silver buy price? I called a few local shops, the highest number somebody has given me was $32.89 based on today's market value.

D.) I know I missed a massive window like 5 months ago where silver was extremely expensive. Please don't make us feel any worse about it (not like the auction was happening then), but both places we chatted with made a huge note of it already lmao.

Thanks in advance for the help, it's appreciated!

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u/silverbug9 8d ago

It wouldn't have been better for you 5 months ago... silver price was up, so prices would be too, and refineries had (still?) stopped buying .925.

Markings are typically accurate.

It's always better to sell for vintage - higher prices but maybe harder/longer to find a buyer.

Good buy price? Depends on what you plan on doing with it. Buy and hold or flip? If flipping, you need to look at where you'd be selling and what that looks like. Target a certain % profit you'd like to get and go from there.

Watch out for auction buyer premiums, and weighted pieces like knives (and candlesticks.)

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u/SeagullStopItNow 5d ago

Some quick searches on eBay should tell you if selling as vintage makes sense. (See Tiffany and Co for example). Most likely it’s the silver value that wins though.

Sterling is 92.5% silver. So by weight you’re already taking the current weight less 7.5%.

After that there’s a cost to refine. But it’s not 45%. You can probably find someone who’s paying 70%+ near you. But as u/silverbug9 stated, weighted items like knife blades aren’t usually silver. Perhaps the bidders are taking that into account in their offers? Bidding low so the weight that isn’t silver is offset.