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Valued Member
United States
58 Posts |
I'm new to this site.  I love buying silver mainly coins, rounds and bullion. But every now and then I will find a batch of sterling for a good buy. My whole point of this topic is to find out what you guys think about buying sterling. If you do buy sterling what do you like to buy/do with it. If you don't buy it why not?  |
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Valued Member
United States
362 Posts |
Sterling silver contains 92.5% silver by mass. Its actually a very cool way to collect silver sometimes. I would love to go to an estate sale and get my hands on some old sterling silver silverware! The problem with this is that, imo, its much harder to sell. Most of the places that buy gold and silver jewelry are those stores you see on the side of the road that will give you like 50% of spot for them. In most cases all the sterling silver you get can still find some attraction on places such as ebay, and you will most likely get spot, or close to spot prices. But also keep in mind that ebay charge like 9%, and then paypal charges an addition 2.5% (ish, I think) Edited by ICanSeeYou7687
11/07/2011 8:38 pm
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Pillar of the Community
United States
1150 Posts |
I agree with the dude who can see you and I. Sterling is harder to sell and not as recognizable as, say, 90% 'junk' silver coins. If I were buying sterling I would only do so if I could get a steal on it, if possible quickly flip it for around spot, and then turn that money into pre-'64 US coins. |
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Valued Member
United States
362 Posts |
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Valued Member
 United States
58 Posts |
Thanks for your thoughts. I was going through the lot I bought, and found some collectible spoons by Gorham silver  which by themselves are worth more than what I paid for the whole lot!  Quote:
I agree with the dude who can see you and I.  |
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Bedrock of the Community
United States
10982 Posts |
The problem with sterling silver is purity. By definition it's supposed to be .925 fine but often it's much lower.
Many people won't buy it unless it's steeply discounted.
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Pillar of the Community
 United States
2448 Posts |
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Valued Member
United States
58 Posts |
Quote:
The problem with sterling silver is purity. By definition it's supposed to be .925 fine but often it's much lower. Is there a way to test purity at home like gold? Quote:
Only if its Strad! Whats strad? |
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Pillar of the Community
United States
548 Posts |
Silver analytical isn't that precise. Normally it just give you a qualitative result: does this contain silver or not?
That's why scrap silver buyers (like me) can't pay the high payouts we pay on scrap gold. The lack of precision on silver analytical just results in too much risk for the buyer.
Not to mention that refineries payout less for silver than they do for gold, which further reduces my interest in sterling.
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Pillar of the Community
United States
2335 Posts |
Most refineries pay 90% of spot(or less) for sterling & other alloys. By definition sterling is 92.5% pure. In my experience it generally runs between 90-91.5% pure. I have had batches assay as low as 86% & as high as 92.5%.
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Pillar of the Community
United States
548 Posts |
It's very shocking when someone comes in my shop to sell their sterling jewelry to find out how little they get for it. A ziploc bag half full can be only $200. With silver analytical having such little precision, payouts just have to be lower.
I find so much jewelry that is stamped sterling (or 925) isn't. The silver batches I've assayed have ranged from as low as 70% to right on 92.5%.
That's why silver coins are much better methods to collect silver. You KNOW exactly how much silver is in each coin.
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Valued Member
United States
58 Posts |
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That's why silver coins are much better methods to collect silver. You KNOW exactly how much silver is in each coin.  |
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Pillar of the Community
United States
4008 Posts |
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With silver analytical having such little precision, payouts just have to be lower. As a retired analytical chemist, I can assure you that the precision and accuracy of a chemical analysis is as precise and accurate as the chemist doing the work wants it to be. If you are referring to the silver content of "sterling" items varying widely with manufacturer, then that is a different matter altogether. |
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Pillar of the Community
United States
548 Posts |
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As a retired analytical chemist, I can assure you that the precision and accuracy of a chemical analysis is as precise and accurate as the chemist doing the work wants it to be. If you are referring to the silver content of "sterling" items varying widely with manufacturer, then that is a different matter altogether. No doubt. I'm a retired chemical engineer and most of my career was in the lab. What I was referring to was the typical, crude (and inexpensive) methods available to someone in an office location. Sure I could invest in Xray Fluorescence machines, or even set up a wet method on a back bench, but nah. |
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Pillar of the Community
United States
2335 Posts |
Quote:
As a retired analytical chemist, I can assure you that the precision and accuracy of a chemical analysis is as precise and accurate as the chemist doing the work wants it to be. If you are referring to the silver content of "sterling" items varying widely with manufacturer, then that is a different matter altogether. I don't have to be a chemist to know that whoever does the test can control the results. My point was that various manufacturers, & possibly different batches by the same manufacturer, do vary in purity. Quote:
My whole point of this topic is to find out what you guys think about buying sterling. If you do buy sterling what do you like to buy/do with it. If you don't buy it why not? Unlike many of the people here I'm not a "silver stacker" or a "gold bug". I do buy sterling & scrap gold whenever I find it for less than spot.....& sell it at a profit. Nothing wrong with owning PM's, it's just not for me. |
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Pillar of the Community
Canada
1502 Posts |
In my books sterling silver is reserved for jewelry, cutlery, and the like. For coins only commemorative NCLT (none-circulating legal tender) are struck in sterling from time to time (Canadian 1902-1919 circulated coins as well). In that case, I collect what appeals to me in design.
But you really can't go wrong as long as the silver content of what ever it is you are buying is clearly known, to both you and any potential buyers later that is.
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Replies: 25 / Views: 2,971 |
Posted 11/07/2011 9:34 pm
