What Is Old Silverware Worth?

Many individuals possess old silverware, from flatware to decorative items, and seek to understand its potential worth. Not all old silverware commands high prices, but recognizing key characteristics and factors provides insight into its true value.

Understanding Silverware Types and Markings

Identifying the material composition is the first step in determining value. Sterling silver, the most valuable type, consists of 92.5% pure silver and 7.5% other metals, typically copper, added for strength. This alloy is distinct from pure silver, which is 99.9% fine but too soft for most applications. Silver-plated items have only a thin layer of silver applied over a base metal like nickel or copper, making their intrinsic silver value negligible.

Distinguishing materials involves examining the item for specific markings, known as hallmarks. Sterling silver pieces made in the United States after 1850 are stamped with “Sterling,” “.925,” or “925/1000” to denote purity. British sterling silver features hallmarks, including a lion passant (a walking lion with a raised paw) indicating 92.5% purity, a maker’s mark, a city mark, and a date letter signifying the year of assay. Silver-plated items lack these sterling marks and may be marked with terms like “EP,” “EPNS” (Electroplated Nickel Silver), “Silver Plate,” or “A1.”

Beyond hallmarks, other methods assist in identification. Sterling silver feels heavier and more substantial than silver-plated items due to its solid composition. A simple test involves a magnet; sterling silver is not magnetic, so if a magnet sticks firmly to the item, it is likely silver-plated. Genuine silver will tarnish over time, often turning black or dark brown, and when buffed with a soft cloth, it will leave a black residue. Silver-plated items, when worn, may show the underlying base metal, or exhibit discoloration like red or greenish hues.

Key Value Determinants

Beyond the silver content itself, several factors influence the value of old silverware. Condition plays a role in determining market value. Well-preserved items with minimal tarnish, scratches, dents, or repairs fetch higher prices. While minor surface wear is expected on older pieces, extensive damage like chips, cracks, or corrosion can reduce value, even for rare items.

The age and rarity of silverware also contribute to its desirability. Extremely old pieces or those produced in limited quantities command higher prices due to scarcity. Maker and pattern are considerations. Renowned silversmiths or manufacturers like Tiffany & Co., Gorham, and Paul Revere are highly sought after. Certain patterns, especially rare or discontinued designs like Gorham’s Chantilly, can increase value.

Historical significance or verifiable provenance, such as ownership by a notable person or association with a significant event, can add a premium. For silverware sets, completeness is a factor; a full set with all original pieces or a high number of place settings holds greater value than individual or mismatched items. The weight of the silver is relevant, as it directly impacts the intrinsic melt value, especially for sterling pieces.

Professional Valuation Methods

After initial identification, a professional assessment provides a more precise estimate. Seek certified appraisers specializing in silver, antique dealers, or reputable auction houses. Many auction houses offer complimentary preliminary estimates based on photographs. Professional appraisers provide a fair market valuation, reflecting the price a willing buyer would pay, or a replacement value for insurance.

Before an appraisal, gather information about the silverware. This includes history of ownership, original receipts, or acquisition details. Clear photographs, especially for online evaluation, assist the appraiser in initial assessment. The cost of a professional appraisal varies, ranging from a flat fee per item or an hourly rate, starting around $100 to $250 or more, depending on complexity and appraiser experience. Some antique buyers or jewelers offer free evaluations.

Selling Your Silver

Once value is determined, various avenues are available for selling. Local antique dealers or jewelers provide immediate offers, valuing pieces based on melt value for sterling silver or aesthetic appeal for plated items. Auction houses, local and international, offer a platform to reach a broader audience, potentially yielding higher prices for rare pieces. Online marketplaces like eBay or specialized antique websites provide direct access to buyers but require the seller to manage listing, shipping, and customer service. Estate sales or consignment shops offer alternative options, particularly for larger collections, where a third party handles the sale.

To maximize return, consider the silverware’s condition. While some collectors appreciate the natural darkened layer or patina on antique silver, over-cleaning or aggressive polishing can remove this and reduce value. Many professional buyers prefer to assess items in their found condition to avoid damage from improper cleaning. Presenting pieces with clear, well-lit photographs is important for online sales.

Pricing expectations should be realistic, considering the current spot price of silver for sterling items and artistic or historical value for collector’s pieces. Selling venues charge commissions or fees, ranging from a percentage of the sale price (10% to 25% for auction houses) or variable fees for online platforms. These fees should be factored into expected net proceeds.