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Sterling dinnerware: Is there a place for sterling in "your stack?"
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<p>[QUOTE="TexAg, post: 4032142, member: 86167"]My mom just sold a 12 piece Gorham Strasbourg place setting at a supposedly reputable high end jewelry store that buys gold and sterling silver. I was visiting her over Christmas in Houston. I called my local coin dealer ahead of the transaction who warned me she would not get a fair price probably around 80% of melt. My dealer would pay her 88% of melt sight unseen if we didn’t like the jeweler’s deal. It was like pulling teeth to get the jeweler to tell us how much under spot he was offering my Mom. Unfortunately, I didn’t have my jewelers scale with me, and he did not weigh them in front of us. Finally, he admitted he pays 82%, and sells to a local refiner. I told him my dealer back home would give us 88% of spot. He finally raised his offer to match that after telling me my dealer friend can’t be making any money. My Mom was insistent on selling the set to the jeweler. I was pissed at the man for acting like we were insulting him for asking questions. Like we were just supposed to trust him. At least I talked her out of selling him some 18K Venezuelan gold jewelry that had been in her family since she was a child. I say all this to tell you that the silverware was in good condition, and all my Mom got for 48 pieces was $737. However, if you buy a used 4 piece place setting online it can cost upwards of $180! Probably not a good investment in sterling silver unless you plan to actually use it. The problem with sterling silverware is that it is not in vogue with younger generations.[/QUOTE]</p><p><br /></p>
[QUOTE="TexAg, post: 4032142, member: 86167"]My mom just sold a 12 piece Gorham Strasbourg place setting at a supposedly reputable high end jewelry store that buys gold and sterling silver. I was visiting her over Christmas in Houston. I called my local coin dealer ahead of the transaction who warned me she would not get a fair price probably around 80% of melt. My dealer would pay her 88% of melt sight unseen if we didn’t like the jeweler’s deal. It was like pulling teeth to get the jeweler to tell us how much under spot he was offering my Mom. Unfortunately, I didn’t have my jewelers scale with me, and he did not weigh them in front of us. Finally, he admitted he pays 82%, and sells to a local refiner. I told him my dealer back home would give us 88% of spot. He finally raised his offer to match that after telling me my dealer friend can’t be making any money. My Mom was insistent on selling the set to the jeweler. I was pissed at the man for acting like we were insulting him for asking questions. Like we were just supposed to trust him. At least I talked her out of selling him some 18K Venezuelan gold jewelry that had been in her family since she was a child. I say all this to tell you that the silverware was in good condition, and all my Mom got for 48 pieces was $737. However, if you buy a used 4 piece place setting online it can cost upwards of $180! Probably not a good investment in sterling silver unless you plan to actually use it. The problem with sterling silverware is that it is not in vogue with younger generations.[/QUOTE]
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