Regular readers know that we don't deal in commodity, or "raw", silver. However, the commodity silver market impacts our business.
It would be nice if used, or "estate", sterling flatware sold for a value based upon its beauty and usefulness without regard for the world silver market. Unfortunately, that's not the case. Although sterling flatware may sell for a price higher than the value of its silver content, the truth is that the price rises and falls in many cases with fluctuations in the world price of silver.
Yesterday, the world price dropped briefly below $19.00 per Troy ounce. At this writing, it is $19.08 per Troy ounce. This continues a trend started a few weeks ago. At first, silver looked headed for a recovery but, like its cousin gold, that recovery fizzled and both are headed downward again. I believe the doldrums will continue until inflation starts to rear its ugly head again. Or until some major event like a war disrupts markets.
So, if you're looking to add to your collection of sterling pieces, now might be the time.