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The value of an antique silver "guesstimate"

Friday, 22 November 2013 14:51 Written by 

Were you aware that gemstones, gold and silver are all measured in the same way using an old system of measurement called “Troy Pounds”? Within each of these Troy Pounds is 12 Troy ounces.

If you were to research the price of silver on the internet you usually will not see it measured in Troy ounces. Typically, the listings of silver will say something like “4 ounces” or “6 oz”, but in reality the seller is certainly using the Troy pound system of measurement as it is the system used worldwide in gold and silver pricing.

Can Troy pounds/ounces be the only way to determine the value of a piece of antique silver? Certainly not, if you ask some experts what they think. The value of an item also depends on how collectible it is as well as the condition and current value of silver. If you are working with reputable antique silver dealers they will be able to determine the value and worth of an object using their expert knowledge of whether the item is authentic or not. They can give you a pretty close “guesstimate” of what the value is or will be. Always feel free to get a second opinion if you are unsure about the first.

Someone who has been working in this particular industry for a number of years may give a very powerful “guesstimate” just from looking at an item you bring in.  Antique silver dealers will be able to look at the object and tell if it is indeed an antique, as well as how durable it is, and what it is worth.

Buying antiques can be a great hobby. Before you complete a purchase, be sure to have the dealer provide you with a full description and history of the item. Also, feel free to ask the seller as many questions as you have that may come to mind. Happy collecting! 

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