QuestionQUESTION: I have a collection of silver pattern wire and solder inherited from from a silver jewelry hobbiest. I would like to sell the silver. Do you have a suggestion as to how I might figure its value and where I might sell it?
ANSWER: Marilyn, please keep in mind that this reply is not your final answer. I need to check current prices from one of the vendors we use and will do that at work tomorrow.
The real problem is not so much price but "to whom" to sell the silver wire and solders. I will think on that one.
Selling price will be less than if purchased directly from a metal supplier, unless someone just happens to be in the market for the specific items you have. Most are not willing to pay full price for items for which they may or may not have a current need.
Marilyn,I will check prices and get back with you tomorrow evening when I get home from work. Fair enough?
God Bless and Peace. Thomas. September 3,2007 4:47pm
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QUESTION: I also have several small pieces of sheet silver.
AnswerThanks for being "oh hold" until I could check current silver prices. As of this morning, the spot price on the metals market was about $12 US. Judging from that price as a base, finished stock metals in sterling will sell for in the neighborhood of 85cents to perhaps $1 per pennyweight, as I would purchase those in small quantities.
A pennyweight is a standard for metal weights and 20 dwt(pennyweight) are equal to 1 Troy ounce. This is different by a small amount from the normal ounce in everyday measurement. To make it easier, grams might be more readily available for weighing and 1 troy oz. = 31.1 grams.
1 dwt = 1.55 grams to convert or 1 gram = 0.643 dwt. Confusing? Use an online calculator to do it..: )
At the prices shown and the weight of what you have, you can get a rough idea of the value of metal if purchased today.
Where to sell? I suggest checking art centers with teaching classes, college or schools with non-credit jewelry classes or arts departments with metal working classes, even rock and mineral clubs since jewelers are always among the memberships. Rock shops can put you in touch with the clubs. Unless you happen to know someone who works silver, the above options are the best I can offer. If direct contact does not help, there might be bulletin boards to post the items and where to contact if interested.
Sure, a pawn shop will buy the metal but for the price of scrap metal less perhaps 10% to 40%. That is the lowest return. Offer the metal to the other places first, at a price you decide on but less than market price by an amount you feel is fair. Soon enough you will know if the price works for them.
I do hope this helps. Best wishes with this.
God Bless and Peace. Thomas. September 4,2007 7:28pm
