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<p>[QUOTE=&quot;Blaubart, post: 1904044, member: 37498&quot;]First things first: Welcome to Coin Talk.</p><p><br /></p><p>I suspect this ring wasn&#039;t &quot;pure silver&quot;, but rather sterling silver, which is 92.5% silver.&nbsp; Most rings weigh less than a third of an ounce.&nbsp; Some might be as little as 1/10th of an ounce, making the melt value of such a ring around $2, but the dealer has to earn a profit, so $1 could be fair offer.</p><p><br /></p><p>Many Gold/Silver/Coin dealers do not care about the retail value of the ring when it was new.&nbsp;&nbsp; For exceptional pieces they might offer more than melt and try to resell it as jewelry, but for average pieces, they base their buy prices on the melt value and sell it to a refiner as scrap.</p><p><br /></p><p>For the silver price to be worth $350, a sterling silver ring would have to weigh almost twenty ounces, which would be a tremendously large bracelet, not a ring.</p><p><br /></p><p>Maybe the dealer wasn&#039;t as crooked as you suspected him to be.[/QUOTE]</p><p><br /></p>

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