I Inherited a Lot of Silverware, How Can I Sell It for Its Metal Value?
If you're like most people who've recently inherited a collection of silverware, you're probably staring at boxes of tarnished pieces wondering what to do with them all. Maybe it was your grandmother's pride and joy, or perhaps it's been sitting in storage for years. Either way, you're not alone in asking this question.
The truth is, most inherited silverware collections are a mixed bag. Some pieces might be worth their weight in silver, while others are just pretty-looking metal with barely any silver content at all. Here's how to figure out what you've got and turn it into cash if that's what makes sense for your situation.
First Things First - What Are You Actually Looking At?
Before you do anything else, you need to play detective with your silverware. Flip those pieces over and look for tiny stamps or markings. If you see "925," "Sterling," or sometimes "800," you've hit the jackpot - that's real silver. Sterling silver is 92.5% pure silver, which means it actually has melt value.
But here's where a lot of people get disappointed. If you see markings like "EPNS," "Silverplate," or "Sheffield," you're looking at silver-plated pieces. These look nice, but they're basically regular metal with a thin coating of silver. The silver content is so minimal that most buyers won't even bother with them.
Getting Down to Business - The Weight Game
Once you've separated the real silver from the plated stuff, it's time to weigh everything. You don't need fancy equipment - a decent kitchen scale that shows grams will do the job. Just remember to skip the knife blades and those heavy handles that feel like they're filled with concrete. Those are usually steel or other metals, not silver.
Here's something that trips people up: when you're dealing with silver, buyers talk in "troy ounces," not regular ounces. A troy ounce is about 31 grams, and since sterling is only 92.5% silver, you'll multiply your weight by 0.925 to get the actual silver content.
What's It Worth Right Now?
Silver prices bounce around constantly based on what's happening in the world, so there's no point in giving you a number that'll be wrong by tomorrow. The key is checking the current "spot price" - that's what silver is trading for right this minute. You can find this on financial websites, but remember, nobody pays full spot price. That's just not how the business works.
Where to Sell - The Good, The Bad, and The Ugly
This is where things get interesting. You've got several options, and they're not all created equal.
Local coin shops and precious metals dealers usually offer somewhere between 80-95% of the melt value. They're convenient, you get paid immediately, and you can ask questions face-to-face. Plus, you're not shipping valuable items anywhere.
Then you've got specialized refiners who deal specifically with scrap silver. These folks often pay closer to spot price because they're set up to handle larger volumes efficiently. The downside? You're usually shipping your silver somewhere, which means trust and insurance become factors.
Pawn shops? Well, let's just say they're probably not going to be your best friend here. They typically offer the lowest percentages because they're not primarily in the silver business.
Hold Up - Is This Stuff Worth More Than Its Weight?
Before you sell everything for scrap, take a closer look at what you have. Some silverware is worth way more to collectors than it is to refiners. Names like Tiffany, Gorham, Reed & Barton, or international makers can command serious premiums.
If your goal is purely to get the metal value out of your inheritance, then stick with refiners. But if you've got time and some pieces look special, it might be worth having someone knowledgeable take a look first.
The Reality of Selling
Here's what nobody likes to talk about: this process takes time, and you're going to get multiple different quotes. That's normal. Silver buyers operate on different margins and have different overhead costs. Getting three or four quotes isn't being paranoid - it's being smart.
And don't bother polishing anything if you're selling for melt value. Refiners are just going to melt it down anyway, so that tarnish doesn't matter one bit.
Making It Work for You
At the end of the day, inherited silverware represents both sentimental value and real metal value. If you're reading this, you've probably already decided the metal value is more important right now, and that's perfectly okay.
The key is understanding what you have, getting it properly weighed and evaluated, and finding reputable buyers who specialize in precious metals. With a little homework and patience, you can turn those boxes of inherited silver into something more useful for your current situation.
Remember, there's no rush unless you create one. Take time to understand your options, get multiple opinions, and work with people who deal with precious metals regularly. Your grandmother's silver has waited this long - it can wait a little longer while you do things right.