Tarman Appraisals & Consulting

Your Table Silver as an Asset

Posted on: February 7th, 2024

The “spot price” of silver (or any precious metal) is the price at which the metal is trading on a given day. The silver items you have stored away for table use, handed down in your family or acquired over the years have an immediate spot price value. Firstly, the items must be made of silver, not silver plated. Most American made silver table items have this clearly marked on the back or bottom of your item. With European, South American and Asian pieces you will need to know how to decipher the marks or numbers or contact your local antiques dealer or appraiser.

The spot price of silver is quoting the price for one troy ounce of .999 fine silver.  Most American silver table wares are 925/1000 silver, or “sterling” silver.  The spot price is constantly changing during market hours of trading.  

As of January 31, 2023 the spot price for silver was $24.01.  It reached a high of $26.62 in March of 2023. It found its high water mark on May 20, 2024, at $32.45 “ozt” (this is how troy ounce is written at auction).  As of this writing, August 5, 2024, it is back down to its recent average of $26.89; this figure being soft due to the global market panic of this week, August 5, 2024.  

I am looking for the silver market to remain strong and to continue to rise at a conservative rate.  It is easy to watch the market fluctuations of precious metals in a simple on-line search for “silver spot price” or go to https://www.apmex.com/silver-price to look at the current and historical silver market. 

A few special makers, patterns, and handmade pieces are worth more than the spot price, however, with American manufacturing producing masses of items in the 20th century, the average American table item is only worth its weight.