Valuing Silver: Key Factors to Consider
Silver is not only aesthetically timeless; it also continues to command strong buyer interest and impressive market prices, dazzling and delighting collectors.
Particularly because many silver collections are passed down within families for generations, many silver owners aren’t aware of the value of their collections, which is why Freeman’s specialists have offered these guidelines for understanding your silver’s worth.
The first step in establishing the value of silver is to ascertain whether the piece is silver or silver-plated. Sterling silver objects are made up of 92.5% silver, the rest being other metals—usually copper. A silver-plated piece, on the other hand, is simply a base metal coated with silver. While an object might shine like silver, don’t let it fool you: unfortunately, silver-plated items hold almost no monetary worth. They don’t contain enough silver to have melt-down value, and the pieces generally do not retain their resale value.
With genuine silver pieces, begin by looking for the item’s hallmarks or stamps. American silver created after around 1850 will almost always have the word “sterling” or the number “925” somewhere on the piece, along with a pictorial or initial maker’s mark.
British silver can be a bit more complex, as British hallmarking dates back to the 14th century. Essentially, all British silver manufactured after 1700 should bear at least four hallmarks. First is the lion passant mark, which is the sterling guarantee mark. In Scotland and Ireland, this is replaced with their national symbols—the thistle and the harp, respectively. This mark guarantees that the piece has been assayed as sterling silver.
The second mark is a town mark; most commonly, you will see a leopard’s head for London. Next is a date letter, ranging from A to Z. Finally, you will find a maker’s mark, which is usually the initials of the silversmith. Some items may also have a fifth hallmark of a facial profile, which is a duty mark.
Continental silver—made in Germany, France, or Italy—differs in the way items are assayed and marked based on their country of origin. If a piece of silver is stamped with “800,” for instance, with a depiction of a crown and crescent moon, these hallmarks indicate that the item was manufactured in Germany.
Once it has been determined that your piece of silver is, in fact, silver—and not silver-plated—it is important to ascertain the item’s age, maker, condition, provenance, and pattern. Each of these elements will play significant roles in determining the object’s value and auction estimate.
Though the value of silver as a commodity is a good place to start, it certainly isn’t the only factor involved in assessing an item’s worth. Freeman’s suggests auction estimates based on the aforementioned factors—including the quality and aesthetic of the object—together with the value in silver weight.