Wednesday, April 13, 2011
Sterling Weighted Candlesticks
Gold and Silver have gone wild! Prices for gold and silver items are reaching record highs. This pair of candlesticks sold on ebay recently. They were advertised as weighing 2 pounds and they brought $200.00. Thirty two ounces of sterling would scrap out for around $1,000, so you would think that someone had made a great purchase.
Wrong. These candlesticks probably do weigh around 2 pounds, the problem is the sterling content equals around 1 1/2 ounces. The other 1 3/4 pounds is either wax, cement or plaster. Be careful when buying sterling candlesticks. Most of them are weighted and the actual sterling is a fraction of the total weight. Typically on a short set of candlesticks the sterling weighs around 1 1/2 ounces. One and a half ounces of sterling is going to be worth around $55.00 at today's market price of 40.00 per ounce.
Things to remember:
Sterling is .925 pure
Most candlesticks are weighted
Sterling is weighed using troy ounces (31 grams per ounce)
800 is marking that is commonly referred to as Coin Silver, it is 80% pure
Do the math
Silver spot price $40.00
Sterling (%) X .925
Cost per ounce 37.00
Weight (troy oz) 1.50
**Your actual selling price will most likely be lower than this figure. This is because the person purchasing the silver needs to make a profit too. Use this as a base number for calculating your return.