Blog Archives

Is it time to sell your sterling flatware?

Do you have a sterling flatware set, or in some cases, multiple sets, that you don’t use? Are you tired of cleaning and polishing the silver when it gets tarnished?

Back in the day, a sterling flatware set was a sign of wealth – think Royalty. From the 1950’s – 1970’s, silver was given as wedding gifts and anniversaries. Tables would be set with the finest silver for dinner parties and to mark special occasions. Today, it is less formal and not too many people use and appreciate a sterling flatware set.

Have you considered selling your silver? Sterling is 92.5% silver and will always have an intrinsic value of whatever silver is trading for. Currently, the spot price on silver is $16.76 per ounce. An ounce of sterling would be $16.76 x 92.5%. However, that is not the price you would receive as there are smelting fees, and the company purchasing the silver has to make money, so you would receive less (each company varies in payout). The silver would be weighed and you would be made an offer based on weight and silver price.

Are you wondering if your sterling silver flatware set is worth more than the price of silver? The answer is: rarely. The mass population does not use silver. Therefore, there are only a few top silver patterns that collector’s purchase. Sometimes even Tiffany & Co. gets smelted – imagine that! Check your local silver buyer to see if your pattern has a premium.

If you live in the Palm Beach County area, feel free to bring in your sterling silver flatware sets and other items for a free quote at the Lake Worth Gold Mine.

Lake Worth Gold Mine

8100 Lake Worth Road

Lake Worth, FL 33467

www.SellSilverLakeWorth.com

 

 

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Where and How to Sell a Diamond

Diamonds are valued based on the four C’s; color clarity cut and carat weight.

Currently, small diamonds do not have much value in the diamond buyer market.Diamonds that are a half carat are evaluated based on grading. Diamonds that are over the one carat mark have actually increased in value 10% over 2011 diamond prices.

When selling your diamond or diamond ring do not expect to get what you purchased. Jewelry stores such as Jared’s and Kay’s are on a high mark up and interest plans – they are retail and sell retail prices.

Get a couple of quotes when you are selling your diamond to ensure you get the best bid. If you have papers such as a GIA or IGI certification then you should bring that along with you. An appraisal is just an appraisal and is usually artificially pumped up for insurance replacement purposes. A GIA or IGI certification is the authority on color, cut, clarity and carat weight.

If you live in the Palm Beach County area and are selling a diamond put Lake Worth Gold Mine on your shopping list for the most competitive bid.

Lake Worth Gold Mine

8100 Lake Worth Road

Lake Worth, FL  33467

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