Melting Antique Sterling silver- is it bullion investing or destroying history?

I've been buying good sterling and sterling scrap for about two years. I'm curious about how many people are buying it to melt or just buying and holding as an investment? Are there any coin collectors or bullion investors buying silver this way too or do you not consider this bullion investing? I believe a lot of antique sterling items are being destroyed forever because of silver rising in price. I have some nice 100+ year old sterling I'm considering melting. If you had 50 to 75 ounces of sterling, would you melt it into bars or hold on to history?

 

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Well I just recently bought and melted 75 ounces of sterling flatware.
How I decide:

Coins: Never US coins (Unless destroyed), maybe some foreign

Flatware: Always unless rare or worth more than melt patern

Jewlery: 99% yes since im a guy and don't where it and unless its worth more.

So basically, if the history does not add value I would basically melt it (Unless coins)

 

This is a good question. My aunt recently passed away and we're trying to figure out what to do with her sterling silver plates, tea sets, flatware, etc

 

99% of flatware, plates, etc are only worth melt but proper research is good just in case.

 

If I collect enough to overcome the melting charges and still have less than current spot in the bars that I had poured, then by all means. Where do you send silver off to to get melted? What kind of places are people finding sterling silver?

 

I have set of 12 dinner knives still in the leather case made in 1907 Amsterdam. And a manicure set from a Portland company that went out of business in 1898 in the original leather case. I suppose I should keep them, but I have no idea their value except if melted.

 

I'd melt it if it's of nothing special.
Silver Bars for me

 

Boy I hope you don't have silverware or plates made by Paul Revere because silver items from famous makers, and time periods can be 100 times melt. That's the key understanding what you have and how much is already out there that dictates value over and above melt. To answer your question Bullion by strict definition must be bar(ingot), or round capible of being processed into something else. This is why the U.S. for the ASE and AGE program must use "virgin" gold and silver not recycled or melted down metals. So technically gold or silver bullion should be 1.000 or at least .999 Fine and .9999 Fine for gold to keep the metal from being too soft. Sterling is only 92.5% silver hense why it's called sterling. Anything be it coin or silverware is what is called coin silver meaning it's only 90%, I don't know of any silver that is hallmarked with anything less than 75% silver that's the bare minimum. European sterling silver is tricky common "new" stuff is 92.5% low grade stuff is 80% (also known as canadian silver) "older" low grade european sterling 83.5% and high grade is actually 95%.

 

huh I always though that in flatware and watch's that "Coin Silver" was 800 or 80%

 

There is absolutely no advantage to melting silver coins since they already sell at spot or higher and you don't have to cough up an assay for them. They are also an extremely liquid form of physical silver as long as they stay in coin form.

For other forms of silver, I see no problem with melting them into bars as long as your costs for melting are not higher than what you can get by selling the pieces. Depending upon the pattern, some silverware is very collectible and in very high demand so you could be shooting yourself in the foot by melting it.

 

Is there a book reference for value of sterling items? I can find websites for hallmarks, but none that give value.

 

Is there a book reference for value of sterling items? I can find websites for hallmarks, but none that give value.

 

I have been buying so called "scrap" silver jewelry off of ebay for a while now at under melt. Most of what I try to purchase is vintage antique jewelry that is wearable and just needs to be cleaned or not depending on it's vintage appeal left alone. I have been working on quite a collection, once I feel like I have enough my plan is to get a spot at a nearby antique co-op. Most of what I have collected will fetch far more than melt ever could and I could quite possibly double or tripple my money. I feel alot of what people are selling as scrap they just don't care to do any research on their pieces or are hard up for money. I have aquired some very nice pieces over the last year or so.
Small sad story: A couple of weeks ago I had forgot about a auction that I was watching. The title was "Scrap silver necklace wear or scrap 56grams" And it was actually a vintage Tiffany's necklace. Well I got busy that day and forgot about it and it sold for $9.99 Unbelievable!!! The piece could quite possibly sell for $150 or more in the right location.

 

Hate when that happens... a similar thing happened to me a few days ago with a coin

 

Rainyday, you must be the one that keeps beating me by a dollar on eBay.

 

LOL maybe ... It's kinda like treasure hunting right from my computer. Great minds think alike tho, right?

 

I was under the impression that the ASE and AGE sourcing regulations were mostly to protect the mining industry.

PMs are always "capable of being processed into something else". It's not like they emerge pristine from the ground at 100% purity, and then steadily decline in purity and utility.

 

I am pretty sure the source requirement for ASE as stated above, no longer applies.