What About Sterling?

I've managed to pick up some sets of Franklin Mint sterling Medals for substantially less than melt. ripped them out of the albums they came in as too bulky and put in plastic tubes. As for other sterling items such as candlesticks or silver ware, gotta make sure it's not weighted. That stuff doesn't store as easily.

For storage, you can wrap tightly in plastic wrap to help prevent tarnishing.

I have a fair amount of Franklin Mint Whitnauer Longines Symphonette and Dansbury Mint medals with themes or people I like that are larger or about the size of silver dollars.
I put them in 2.5 x 2.5 holders. Smaller .925 in appropriate 2x2's.

If you are talking about expensive silverware, tarnish is no big deal. Removing it may ruin any collectible added value and it will return over time anyway. Each time you remove it with polish or chemicals, you remove some silver. I'm not a chemist but I think tarnish is silver oxide?

I believe tarnish and toning creates it's own natural protective "skin" or seal and will actually prevent further tarnishing at some point.

Yes. Use it. I was tired of seeing it in a drawer and started using it as dinnerware about 10 years ago. It's lighter than stainless, and may possibly have health benefits. Some of the sterling serving pieces see a LOT of use - jelly servers make excellent ice cream servers, and the cocktail and pickle forks have thinner and sharper prongs than most stainless.

As a store of value, it is not like coins or rounds, and sells for well below spot for its silver content. Especially pieces which are not solid, such as candlesticks and dinner knives. But it does follow spot. I used to be able to find some on ebay selling for below spot, but not lately.

Left in the open air on a spoon rack, or in constant use, sterling tarnishes and discolors fairly rapidly. The classic treatment is using it for lutefisk, which will turn it black in one meal. But even ordinary foods take it to bluish and yellowish discolorations. Silverware is ALWAYS polished because of the discoloration. People prefer "blast white" for dining. I have some English spoons from the early 1700's that have been polished to the point that the hallmarks are almost indistinguishable. This did not affect their value, which is far higher than melt. A dognose handle, or a Hanoverian rib on the bowl, or a Revere or Brasher hallmark, are far more important than polishing.

During the Kentucky Derby (on TV) I used a heavy sterling handled cup as a faux julep cup. I didn't have the bourbon cocktail but used cold white wine as a substitute. For some reason the cold drink in a sterling cup was really refreshing with the pimiento cheese sandwiches. Totally different than using a Big Red plastic cup.

My understanding is that in the 19th century--particularly in places where the available coinage was limited--sterling or coin silverware could serve in place of coinage. Will that happen again? Somehow I expect our children will discover the answer.

I would only buy sterling either to flip or to use. There's a reason people have used sterling since Paul Revere days. It's nice! There is a heft and sheen to them and they are just nice to use. Yes it is a chore to occasionally polish them but boy do they look great after you do!

I would not store silver in plastic wrap. Use anti-tarnish cloth bags. And don't use rubber bands. I bought a sterling set off ebay and the seller used rubber bands to bunch them together and just a hint of moisture on the bands caused tarnish that was tough to get off.