Silver prices, future etc.

I just was looking on Ebay and noticed how sometimes the prices for sterling that seemed rather reasonable were from Replacements listings. Sort of made me wonder if they're going to get out of the silver biz a little in light of the current downward trend in silver prices. So this isn't about anything in particular but trending silver prices and that I don't know much about them.

I've always loved silver but seemed to always have other things to be spending my money on. My little sterling collection has been pitifully small. As silver prices have dropped I've given myself permission to buy a little and thankfully for me I'm not a matchy matchy kind of person so I have a little more (what I think is glorious) mis-matched if somewhat used flatware etc. now.

Not being financial market saavy, anyone have any notion on what the stock market, world financial situation, oil market or whatever else historically plays into what it might be doing to the silver prices?

So far I've just pointed out to my kids that they can give the silverplate away but should at least sell the sterling for scrap if nothing else. (they won't get even a little bit rich on the little bit I have but then hey something is better than nothing)

 

The only thing Replacements is 'reasonable' on is patterns that no one is interested in and then they are still well above scrap value

There is a lot of uncertainty in the markets right now which is good for precious metals prices to go up

 

it always pains me when someone scrabs usable silver flatware... in my country we have a very strong silver culture, and there are so many good makers and good patterns that i cannot see the reason to scrab any of them if they are not broken, and even the broken ones, some will make into jewelery

 

LOL so oil is low so prices are low, markets are uncertain so prices should go up. No wonder I'm confused I am enjoying the low low gas prices right now. $1.69 here right now, who'd a thunk it?

I'm not necessarily suggesting scraping good usable sterling (though some I have is darn well near scrap) but just not to discard it as nothing. When stressed at the loss of a family member I'm not sure that getting top dollar for cool old silver would be top priority but boxing it off to a refiner might be doable.

 

hmm that might be true, i havent had to worry about that so far, so i havent really thought about how my relatives would handle my collections when im gone. they all know that my stuff is worth something, but they havent got the slightest clue about a dollar figure.

and really? 1.69? dang, i wouldnt think gas prices would be better here than in the US, we are only at around 1.4$ pr Liter

 

i knew it was too good to be true

 

$1.40 a liter sounds cheap until you try to fill a 15 gallon tank.

I paid $1.40 a gallon last week. Now that was the result of a $1 per gallon discount I "earned" from all the groceries I bought in December, so it's not like they were giving it away.

 

Yea sorry, US gallon which is really cheap for here.

I've been puzzling over my collections recently too. Some have far less value than they might have had a few years ago and some would only have value to certain types of people (not meaning that in a disparaging way, actually I have lots of damaged pottery etc that someone like myself could use for type examples in archaeology but not every one would want).

 

I haven't had any silver to sell, so I haven't noticed the spot prices - is this far off from where it was a year ago?
http://www.silverrecyclers.com/Calculators/ster_calculator.aspx

 

This isn't the site I usually check when I'm wondering but here's a 5 year chart.

 

Hi,
When silver was really high in the 70s. A nearby hospital converted all of their old x-rays to digital. They threw out a huge dumpster full of old x-rays. I carted the stuff for two days until they hauled it away. Made over 5K in two days. I just wish they would have left it a couple more days.
greg

 

Thanks, SIS, that what just what I wanted know.

 

Yea Messi, good to buy I think, not so much to sell.

Good going Greg! Smart thinking (on your part at least).

Davey it was just within the last couple years when gas was over $4.00 US per US gallon so prices now are really cheap! If there was better mass transit on a wide scale people wouldn't feel the fluctuation quite so much. (I need a nap or something, I actually just typed flexuation)

 

I have been buying silver recently, just pieces to have around the house, or stack away in my hoard box. I tend to hoover up anything that is selling for around melt price, although I have enough teapots. It is hoarding rather than collecting. Sometimes it is a comfort to have some money where you can see it.

The price has nudged down a bit since I started buying again last year, but I don't see much lower prices any time soon, and there may be a slow increase.

My favourite item is the silver tray, the bigger the better. No one really wants them at the moment and they can be stored easily or stand around with stuff on them. Typically they can be bought for about melt plus 10%.

 

AF I've sort of been doing the same thing though partly just because I love the look and feel of silver. (DH says it genetic, those Norwegians like them some silver)

 

Having filled many of the most likely spots, I am now looking for silver bowls for the cats, my cactus plants stand on a silver tray, and at Christmas I bought a big pile of profiteroles because they were retailed in a square based pyramid, and I had a square tray just the right size to serve them on instead of the plastic base they came on.

 

Af, some years ago, a decorating magazine featured a home that had four or five silver trays as their mantel decoration. It actually looked rather stunning.

But I am still amazed that I still think so! Sounds weird, doesn't it?