In early 2020, the Royal Mint of the United Kingdom announced the availability of a series of commemorative coins, and one of the most interesting observed the 200th anniversary of the death of King George III. This attractive coin, which is available in sterling silver, has a face value of five pounds, which would get you a nice lunch at a British pub, but you wouldn’t want to spend this coin in such a fashion because it’s worth more than that. The Royal Mint sells this coin for £13.00, which is more than its circulation and metal value.
What Sterling Silver Really Costs
Compared to other precious metals, sterling silver isn’t as valuable, at least not in its base form. When you hear people talking about silver being an alternative to gold, they’re referring to pure silver, which happens to be too soft for industrial and jewelry-making purposes. The commodities markets list the price of pure silver as an investment instrument, but it has to be at least 99 percent pure. A small piece of sterling silver that hasn’t been transformed into anything has a value similar to that of spot silver, but it could be worth a lot more depending on its application.
Sterling Silver Coins
In Great Britain, the pound sterling was historically made of sterling silver, and at one point, it was worth almost as much as pure silver. These days, pound sterling coins are made of nickel silver and other alloys that are worth less than their actual currency value. As for numismatic value, sterling silver coins could be worth a lot. Imagine an imperfect minting of the aforementioned King George III coin, which could be worth a lot in a couple of decades because collectors would be very interested.
Sterling Silver Jewelry
Let’s say a gold trader purchases some antique jewelry at spot prices for smelting. The trader would be making a grave mistake if he or she doesn’t check the provenance of the pieces, which could be worth a lot more than the metal. This type of situation can arise with sterling silver jewelry. A pendant made in China and purchased at a department store isn’t worth the same as a special edition Tiffany’s piece made before World War II. If you have items made of sterling silver and you aren’t sure of their value, reach out to the professionals at First National Bullion. Scottsdale residents can rely on the expertise of our staff, all of whom have at least 10 years of experience in the precious metals industry.
Sterling Silver Musical Instruments
Sterling silver instruments are very valuable for many reasons. First of all, they aren’t very common. They’re often commissioned for musicians, and they may have a special history or provenance. For example, imagine a sterling silver trumpet played by a studio musician who recorded with John Coltrane. The collector’s value of such an instrument would be extremely high.
If you need information on sterling silver items you own or you’re looking for the best place to purchase Scottsdale silver bars, gold coins, and other forms of precious metals, reach out to the trustworthy professionals at First National Bullion. We can answer all your questions and help you decide which precious metals to add to your collection. Give one of our experienced dealers a call today at 480-546-8928.
The statements made in this blog are opinions, and past performance is not indicative of future returns. Precious metals, like all investments, carry risk. Precious metals and coins may appreciate, depreciate, or stay the same in cash value depending on a variety of factors. First National Bullion does not guarantee, and its website and employees make no representation, that any metals for sale will appreciate sufficiently to earn the customers a profit. The decision to buy, sell, or borrow precious metals and which precious metals to purchase, borrow, or sell are made at the customer’s sole discretion.