Silver

Chatted briefly with a friend this afternoon. She and her hubby, like lots of other families, have come to rely on 'alternative banking' now and then. Last month they had an unexpected prescription cost that ate up their already meager cushion, so they gathered up her grandmother's flatware (pretty stuff, from the 1930s, kind of deco, Rogers IS) and took it to the pawnshop. Since they pawned it before a couple years back they were stunned when the pawnbroker wouldn't even look at it. He said that silver is now worth next to nothing, and the only silver pawnbrokers are considering is that which is attached to diamonds or other gems. I was surprised right along with my friends. Anybody heard anything about this?


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But since May it was heading down

The idea is that its at or very near its peak

is you have a few pounds it might add up.

.... spot silver around $38 per ounce. Not as high as ever but not too shabby. I think they should try a different pawn broker, or better yet go to a gold/silver buyer if they are in a medium/large city.

Almost $40 an oz right now. So after all the art work in making them, those utensils are just waiting to be melted down.

We went to a Jewelery store and sold one set for $2,400.

Granted, we were at the peak of the value of silver, the first and only time, it seems,we have been luck financially.

We invested that money right back into our home and the value of our property went down after we basically rebuilt the whole house.

We had a lot of equity in the house and now we are just about even.

It looks like 03 was the year it started rising and it might be on it's way down now, but it's hard to know for sure.

http://www.kitco.com/charts/historicalsilver.html

a set of silverware as a wedding present. It was considered a normal thing to do in that generation. A few years later my sister said she never used the silver at all. Silver went out of style that fast.

90% silver dimes, quarters, and halves and the coin dealer from whom I bought them paid me nearly $4000. I could have got more had I waited a week, but I was satisfied with what I received. This dealer was paying 25x the face value. Best investment I ever made because I had largely forgotten about that bag of coins and hadn't paid much attention to the price of silver.

I would never take coins to a pawnbroker because they would rip you off. Last year I had some 2006 silver dollars I had bought in 2006 and the pawn shop wanted to give me $5-6 for each. I took them to this same dealer and he paid me $16 for each.

not sterling. No matter how pretty, not worth much.

i get plate + silver at estate sales mostly cheap and ebay the desired patterns. have a collection for myself. the old patterns are so much neater.

Edit..silver has out performed gold and most other commodities over the last year..

They should contact other shops/dealers.

One wouldn't take a piece of silver, that currently could sell for $100, as collateral for a $50 loan, payable in 2 months, if one thought silver might tank to a lower level in the next 2 months.

http://martinigod.com/blog.htm