How To Buy Scrap Silver?

Scrapping Old Broken Silver

• I have several old silver candlesticks that are largely broken and of no interest to me. They are marked "Sterling" but appear to be weighted, i.e. they are not solid silver. I am totally okay with trying to sell them for scrap value, but I have questions. There are 8-10 items in varying degrees of brokenness. In most cases the base broke off the main stem. Some were clumsily soldered at one time, and some are very badly tarnished. Do I need to clean these pieces first? Does tarnish affect their value as silver? Should I leave them intact or attempt to remove the sterling foil from the weighting material myself? How do I find someone to buy this stuff, online or in person? Is it even worth bothering? Not interested in preservation advice.

• Answer:

  Most scrap places will not buy weighted sterling. YouTube has several videos on how to remove the weighted material. For instance, https://www.youtube.com/watch?v=5jMVoCCDkMk removed the plaster material and steel rod insert and two candlesticks went from 450 grams to 45 grams. This https://www.youtube.com/watch?v=UM9En3YAC8M shows a man removing weighted material from a variety of items. Knives are the most difficult, as you have to saw off the stainless blade and crack open the handle and remove the rod and plaster. His spoons were the most valuable, as they did not contain any fillers. You can try a place like http://www.midwestrefineries.com/silver.htm, which I think I've seen mentioned here in AskMe before. You have to pay for shipping, so a USPS Priority flat rate box might be the way to go if you choose to do that. Midwest doesn't accept weighted items, so you would have to take them apart and remove any plaster, or wax that might be stuck to the candlesticks. Obviously, use gloves and protective eyewear. According to their site, Midwest Refineries pays 90% of the spot price for sterling silver. The spot price yesterday was $17.79 per troy ounce. This changes every day, so you will get the price the day they weigh your silver scrap. Using this http://www.silverrecyclers.com/Calculators/ster_calculator.aspx, you can see that 45 grams of silver is worth $23.79, using the latest spot price. 90% of that is $21.41. So, if your candlesticks are similar to the ones in the first video, each one would appear to be worth about $10.00 each in terms of scrap silver. This is highly variable, and many local dealers might only pay 50% or less. If you choose to use the above place, I would call ahead and ask any questions before http://www.midwestrefineries.com/packaging.htm. You also have to put in your name, address, type of items (sterling scrap), a copy of your drivers license and date of birth, and how you want to be paid (check, etc.). You would also have to make sure the pieces were clean of the solder. IANASD (I am not a silver dealer), so do your own due diligence. There may be local places who would buy your scrap (pawn shops, indoor flea market dealers, etc.), so if you want to take the time, go around or call around and ask to see what they pay. It probably wouldn't hurt to take the pieces whole to an antique dealer to make sure you're not sitting on George and Martha Washington's old candlestick set, but it's doubtful.