Cashing In On Those Silver Wedding Gifts in the Cash for Gold World
Cashing In On Those Silver Wedding Gifts in the Cash for Gold World
With Gold Spot Price records frequently being broken, everyone is talking about Gold, but what happened to its closely silver? Silver is also a precious metal worth talking about because while it is not valued at all near the price of gold is a more common precious metal and can be used for trading and investment.
It is true that while the Gold Prices have been strongly fluctuating that Silver has been following in a similar trend. Because silver jewelry does not have as strong a demand as Gold the price has never been too extraordinary. Many factors affect the demand, including silver's use. It is not as good as Gold and Platinum as a conductor and insulator for medical and electrical applications and its intrinsic properties cause it to tarnish making it less attractive as jewelry. A popular use for silver over the years has been for eating utensils and dishes. Because silver also resists certain bacteria's it has been believed that eating from silverware, drinking from silver goblets, and serving from silver platters would allow food to be served and consumed more hygienically.
This information is interesting but what does it mean for you and me. Well now is definitely a good time to sell both gold and silver. What kind of silver items might you have? Well remember those wedding gifts that take hours to polish off the blackness, these items like candlesticks, serving trays, and tea sets can add up quickly in weight and cash value.
Now the value of silver as we mentioned is about 1.5% that of gold so the payout amounts for weight volume are not very comparable. For example several hundred grams of 14 karat gold would be worth several thousand dollars whereas several hundred grams of silver would be a couple hundred. There are also different purities of silver which are important to note. Sterling silver is 92.5% pure silver which is also stamped 925 there is also pure silver items .999 and silver plated items. Silver plated items unfortunately are not worth much and cannot be cashed in.