Gold and Silver Newbie Questions

[Fushek]

Ok ... I'm still learning on the Silver and Gold thing. So ... a couple of questions for the ones who know.

On gold, I've seen some rings that are labeled 14K hge which I've come to learn is not real gold (heavy gold electroplate or something like that). Is there a general rule that if there are ANY letters after the K, it's not real gold or are there some instances in which it's still good?

On silver, I picked up two bowl/candy dishes today for $3 each. They were labeled Sterling Weighted. Am I correct in assuming that means that the majority of the outside is sterling except that the base is weighted? These aren't the nicest pieces in the world, so I'm planning on selling for scrap. Assuming that I may make a small profit but we'll see ... it's a learning process!



Thanks in advance for any advice!

 

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[trdhrdr007]

Sometimes you will see either 14KP or P14K. Most of the time the P stands for plumb. At various times karat gold has been allowed to be off by as much as 1/2 karat. The plumb designation means the manufacturer is saying it really is what's marked.

When silver was over $30 I'd have scrapped both those pieces. There is a lot of weight variation in those type pieces. Without having them in hand I'd guesstimate between 1.5-3 troy ounces in each & probably at the lower end of that range. You might do better selling without scrapping with today's melt prices.

 

[mkulltra]

My general rule is if the is any E's around the hallmark to be leary. That goes for both gold and silver. Meaning, GFE, GE, EPS, ENS, etc.

As for the dishes, usually the whole thing is filled with a type of concrete. The rule of thumb is about 10-11% of the total weight of the object is silver. If it weights 10oz, then you have about 1oz of sterling silver.

 

[batcap]

Sometimes you will see either 14KP or P14K. Most of the time the P stands for plumb. At various times karat gold has been allowed to be off by as much as 1/2 karat. The plumb designation means the manufacturer is saying it really is what's marked.

When silver was over $30 I'd have scrapped both those pieces. There is a lot of weight variation in those type pieces. Without having them in hand I'd guesstimate between 1.5-3 troy ounces in each & probably at the lower end of that range. You might do better selling without scrapping with today's melt prices.

I have to agree. Scraping is a last resort. I sent off quite a few nice things to be melted down before I learned better. I picked up some Stieff Rose pattern silverware a few weeks ago. Even as one of the most common sterling sets available, it still sells for double melt or better. You could even (just kicking this idea around) sell jewelry by weight @ $1/gram at flea markets etc. It's still way cheaper than new, and you're getting over double melt value.

 

[trdhrdr007]

I don't think scrapping is a last resort. Truth is there are tons of mass produced sterling items that you can't sell for melt value even when the spot price is as low as it is now. I've always checked to see if I could reasonably expect to sell for more than scrap. The higher spot is the more you can scrap.

There is a general rule that you can expect to get 10% on a weighted item. That doesn't hold true with pieces like this because the bowl makes up a lot of the weight.

 

[jerseyben]

The going rate on the candy dish seems to be right around $30.

How much does it weigh? I am curious to see if the 10% scrap value would be accurate.

 

[trdhrdr007]

When I first started buying sterling I kept records in a little note book so I'd know if it was worth buying. I used to call those things on the right bonbon dishes. My records show I had one that was 8" tall with an 8" diameter bowl that scrapped out at 53.6 dwt. Not much help without initial weight but I also have a record of several that were 6" tall with a 6" diameter dish. There weights were (total/scrapped)....138.6/58.9...164.6/65.....139.5/46.2....160.3/57.9...159.1/56.1. My records also show a dish similar to the first one that weighed 83.3 & scrapped out at 29. All numbers are dwt. I always use dwt because there are 20 in an ozt which makes the math easier than grams.

My records indicate the 10% scrap value is fairly accurate for things like candle sticks. When there is a bowl or plate attached to the weighted surface you can throw that out the window.

 

[Beachkid23]

Just a quick tip on your jewelry too, if you see numbers instead of the K you're good to go. For example 333 is 9k; 417 is 10k; 585 is 14k and 750 for 18k. I have found more 18 K Mark 750 and I have actually marked 18 K.



The 7 is barley there. But it was a dead give away for me. It was one of the best items I have ever bought!

 

[Fushek]

Thanks everyone for the advice! I appreciate the tips from the pros!

The two dishes weigh 6.5 and 6.9 oz and the bowls have a diameter of 6 and 6 1/2 inches.

I'm planning on just listing on eBay as one lot and see what happens but, for the future, how do most people scrap their silver?

Sell it on eBay as Scrap?
Local scrapper?
Mail away scrapper?

 

[jerseyben]

As I said above, I see many of the candy dishes being sold on ebay for around $30 as a usable piece. Why not try that?

 

[Fushek]

I may try that, but they're not in the best condition (some bending/folding in the dish itself as you may be able to see on the one on the left in the middle) that I think would be hard to straighten out and make it look nice.

Thanks again for the advice!

 

[diggummup]

I think those 2 pieces will weigh out to more than 10%. Since they aren't in the best of condition, get a pair of pliers (and gloves if you're accident prone) peel the bottom's off and remove the filler. Then you will know the actual sterling wieght and you can list them accordingly. The 10% rule is generally for weighted single candlesticks in my experience.

 

[trdhrdr007]

With the measurements you posted I'll go out on a limb & say there is between 4-5 troy ounces of sterling between the 2.