Trade 4 is official. I traded my Gorham Sterling Silver Flatware for 28 ounces of Silver Bars.
Estimated Trade Value Increase:
$500-650 ➡️ $700
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I knew I had some value with the sterling silver knives, forks, and spoons as I used to be more active buying and selling gold and silver.
“Silver” is typically .999 (out of 1000) and reserved for coins, rounds, bars, etc. While “Sterling Silver” is .925 percent silver and usually reserved for jewelry and flatware.
I thought there were a few ways to go here; trading to an antiques or silver dealer who may want the actual pieces or someone who would acquire them for their “melt value” literally if you melted it down, and the silver you would get out of it.🫕
I dug around a bit, researched the pattern on the flatware and got a few estimates from people to gauge what the pieces were worth.
I had a friend who works in the jewelry business weigh then for me to ensure I was as knowledge as possible when dealing with potential traders.🤔
I ended up trading with a local shop who dealt in gold and silver and was offered $700 in cash.
After a quick explanation of my project and maybe a raised eyebrow from the dealer, we agreed on 28 ounces of silver.🥈
At the time the price of silver was about $25 per ounce, which gave me $700 worth of silver.
Even though I kind of traded silver for silver, I believe trading the silver bars will be easier than trading silver flatware.🍴
I think someone open to trading silver will be more open to acquiring bars than forks and spoons.🥄
And with my fourth trade complete I’ve acquired 28 ounces of Silver Bars, passing the $500 mark in only a few weeks from when I started the project.
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Thoughts so far? Did I make a good trade
FOLLOW ME and watch my journey as I trade my way from a rock to a house and leave a comment with what you think I should trade for next!
