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The Silver Treasures that go Unnoticed and Unclaimed

Sterling silver cutlery, tea sets and coins (specifically, North American silver coins—made before 1965 in the U.S. and Canadian coins made until about 1968)—are often worth more for its scrap content than as a collectible.
Sterling silver cutlery, tea sets and coins (specifically, North American silver coins—made before 1965 in the U.S. and Canadian coins made until about 1968)—are often worth more for scrap content than as a collectible.

As an appraiser, I often run into under-appreciated items while being asked to examine other items that clients have deemed as more valuable. Quite often, actually.

Few things always retain their value or appreciate in value forever, as they can go out of fashion and lose favor, like Victorian furniture or Hummel figurines. When these folks learn their collections are not nearly as valuable as they had thought, the next question is almost inevitably: “What would have been my best investment?”

I have to answer, “You should have invested in silver.”

I usually get a blank look to that reply, and I have to explain I’m not talking about bullion stashed in a Swiss bank or shorting the precious metals market. I mean the tarnished stuff often found stashed in old dressers, china cabinets, basements and attics: Sterling silver cutlery, tea sets and coins (specifically, North American silver coins—made before 1965 in the U.S. and Canadian coins made until about 1968):

• Coins prior to those dates have a silver content that exceeded their face value, even when they were minted in the mid-1960s;
• Sterling silver items made in North America, such as cutlery, tea set pieces, small bits of jewelry, will be marked “Sterling” or its numerical equivalent, “925,” as Sterling is being 92.5-percent pure silver. On smaller pieces these marks are often worn or very small and hard to see unless you look closely, which is why such items go undetected.

I don’t deal in silver coins or silverware of any sort, but I do keep an eye on bullion values. If I come across a silver-content coin in my pocket change, a Sterling silver teaspoons or Jewelry at a yard sale, I pop it into bag in my sock drawer for emergencies. The return on that investment outshines anything on Wall Street.

In terms of basic scrap value for silver, it goes up and down all the time, but generally keeps appreciating over time.

These five somewhat worn Sterling silver teaspoons were purchased at a yard sale for $2.50. They weighed 1.95 troy ounces—a scrap value of $36.56.
These five somewhat worn Sterling silver teaspoons were purchased at a yard sale for $2.50. They weighed 1.95 troy ounces—a scrap value of $36.56.

As I write this article, the spot price on Sterling silver scrap is $18.87 per troy ounce (one regular ounce is equal to 0.91 troy ounces). To give you an idea of the profit margin, the picture of five somewhat worn Sterling silver teaspoons that I picked up out of a box of silver-plated examples at a yard sale for $2.50. The total weight for the four was 1.95 troy ounces, which would have a scrap value of $36.56… a hefty profit of $34.06 if I sold them today.

American and Canadian silver coins are another item often missed as potential hidden money makers. If you have an old piggy bank, change jar or just have coins rattling around in your sock drawer like I do, then drag them out and have a bit of fun figuring out their silver value. Silver coins were in standard circulation until silver was removed from all American coinage in 1965 (and Canadian silver coins in 1968). Silver coins from both countries have a monetary face value, a collectible value and bullion value for the amount of pure silver they contain. Depending on the vintage and rarity of the coin, its value as a collectible coin can exceed its scrap-silver value, but for most mid-20th century coins that contain silver, the silver value exceeds their value as a collectible coin.

To give you a general idea of just how much silver coins have appreciated on just their bullion value, a standard Washington quarter made from 1932 to 1965 as of today’s date, has a scrap-silver value of $3.67. The 1946 to 1964 Roosevelt dime fetches $1.47, and a 1964 Kennedy half dollar goes for $7.35.

A standard Washington quarter made from 1932 to 1965, as of today’s date, has a scrap-silver value of $3.67.
A standard Washington quarter made from 1932 to 1965, as of today’s date, has a scrap-silver value of $3.67.

Even collectible coins with limited silver content can have values that exceed their face value, so if you want to have a little fun, or even make some extra money, scour the house for old coins. If you come across any, check out these two websites to find the value of American and Canadian silver coins.


Mike Wilcox, of Wilcox & Hall Appraisers, is a Worthologist who specializes in Art Nouveau and the Arts and Craft movement. He can be reached through his website Antique-Appraise.com website.

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