by Tom Bassett

Many people are aware that the value of silver is nearing a 30-year high of $28.00 per troy ounce.  Quite often I am asked to evaluate, appraise or buy “some silver.”  It is not unusual for people to have an expensive set of flatware or a tea service and want an updated value.  Whether you want to insure a set of flatware that you inherited, or you are considering selling a silver coffee or tea set you haven’t used for years, you need to know the basics.

 

First and foremost you need to know if your silver is sterling or some type of silver plate.  There is a big difference in value.  Here is what to look for on your piece of “silver.”  On the base of a creamer, sugar bowl or teapot there will be markings.  The underside of a spoon or fork will also have company markings.  If a piece is sterling, it will either be marked “sterling” or “.925”.  The .925 refers to the fact that sterling is 92.5 percent silver and 7.5 percent alloy.  If your silver item isn’t marked sterling or .925, it is probably not sterling and is silver plate or has a lower silver content than sterling.  Common markings on silver-plated items include “EPNS” – Electroplated Nickel Silver and “EPC” – Electroplated Copper or “Silver over Copper” among others.

 

If you have a fork that is marked “sterling” and weighs one ounce, its silver content value is approximately $23.50.  If your fork is silver plate, it has very little silver in it; and its silver value is less than $1.00.

 

A three-piece sterling tea set (creamer, sugar and teapot) that weighs a total of 20 ounces contains $470 worth of silver.  A similar three-piece set that is silver plated has very little silver content and may not attract much interest if it had a $60 price tag.

 

The moral of the story is that all silver is not created equal.  Know what you have before you insure or sell your silver treasures.

 

To see previous articles by Tom, Click Here.

 

Tom Bassett is a resident of Lincoln and a 30-year member of the New England Appraisers Association. Call (402) 484-8143. His website is: www.ctomrun.com.