One of customers recently wrote in, asking: “I have a sterling silver flatware service set for 12 weighing approximately 4 lbs. Would you be interested in purchasing it, and at what price?”
Yes, we will purchase a silver flatware set. Our payout would be based on the London Daily Fixing. However, you should note that sterling silver is not pure silver. Therefore, you wouldn’t be paid for 4 lbs. of silver; you would need to deduct the impurities from the weight. Keep in mind knife handles are estimated because they have steel blades.
Usually, sterling silver is 92.5% pure silver. However, flatware can vary depending on where it was made. Examine your flatware set and look for a number stamp. Check this number with our silver purity chart to determine how much silver is in the set.
The easiest way to get an estimate for your payout is to register with MGS. Once you do, you’ll gain access to our payout calculator. Simply input the weight and the type of metal, and our calculator will tell you our estimated payout. You can then ship the metal straight to us, and we can send you a check or wire payment, usually on the same day we receive your lot.
