View Full Version : Anyone Sell Their Sterling Silver Jewlery?
03-15-2008, 11:12 PM
So I sold my gold and bought my plane tickets :cool1:
Now, does anyone know where I can sell sterling silver. I have a lot of rings that are too small.
03-16-2008, 12:06 AM
I brought some of my silver with me when I sold my gold and the jeweler said to hang onto it. He said silver was selling very low and I probably wouldn't like what he would give me for it.
I would ask a jeweler if you really want to get rid of it but I don't think silver is really worth much right now.
I just looked it up on the internet to be sure and gold is selling today for $1000 an ounce and silver is selling for $20 an ounce. quite a difference!
In my personal opinion, $20/troy ounce isn't bad but I agree with everyone that unless you're desperate for money, hold on. Why don't you do a search on silver as a precious metal. It usually rises with gold, which it has, but is currently undervalued. Silver is consumable, used not only in jewelry and tableware, but in medicine and production.
Are you familiar with Robert Kiyosaki of "Rich Dad, Poor Dad" fame? He has a column on Yahoo Finance and has become quite the silver bug. In his most recen column (or the one before that) his blanket recomendation for all of us is to buy silver priced below $20/troy ounce. You may want to read that column and decide whether or not you want to sell your silver. If you do decide to sell it, you should just ask the business that bought your gold. You could also consider bBay. Silver is selling like crazy. ;)
03-16-2008, 09:18 AM
If you had a set of silverware, or pre-1965 silver coins, you'd be looking at some real money, but rings and such wouldn't have enough weight to amount to much. Rings, necklaces and bracelets have far more value as wearable pieces of jewerlry than their metal content.
I agree with the previous poster that, if anything, people should be buying silver rather than selling it. Gold too, even though it has run pretty high before getting most people's attention. We were buying silver when it was $4.50/oz a few years ago and now it's $20+. We've done a LOT better than the stock market, and certainly much better than parking money in CDs at the bank for 2 or 3% interest. With the dollar dropping like a stone and some banks and financial companies like Bear Stearns in distress and being bailed out by the government, you can be sure that gold and silver are due to go a lot higher in price in the next few years.
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