If you sell silver do you have to pay tax on that?

There are at least 3 kinds of potential sxam to watch for:

A) Buyer pays (wholesale) melt value, but then sells the pieces at the higher finished scarce piece price.

B) Buyer tells seller it is silver plate and offers a lower price, but buyer actually knows it is solid silver

C) Buyer tells seller it is lower grade silver or gold than it really is, pays less than true (wholesale) value and pockets the difference.

This definitely is a "Seller Beware" situation.

Note also: Metal buyers NEVER pay the full retail value; they always pay a discounted wholesale rate. The difference between the two is their profit as a metal trader.

Anonymous wrote:I have a set of Tiffany Provence silver. Would this be worth more than the melt value now? We never ever use silver.

Yes

I have a set of Tiffany Provence silver. Would this be worth more than the melt value now? We never ever use silver.

It is probably worth more as a finished piece than as raw metal.

How do you sell it if you want to? Besides like a pawn shop.

Anonymous wrote:

Anonymous wrote:OP it's silver and marked. it was always worth hundred, but now I suspect thousands, yes.

It's just about weight? nobody cares about maker?

Like solid silver? It's worth $90/ounce...if it weighs 10 pounds, that means it's worth like $14,400.

Yes, the maker may matter...a solid silver Tiffany tray from the 1800s as an example is likely worth a ton more than $14,400. You should look for markings as to who made it and do some Internet research.

The same as coins...while all 1964 and earlier coins are worth their silver content, some from certain years and certain mints are worth far more than their silver content.

What if it’s just for the silver content? Who do you sell to? My mom has a set of Sterling flatware - she never uses and I’ll never use it. I think it may be Tiffany but I doubt it’s a collectible beyond its melt value (no one wants that stuff anymore)

Look on Replacements.com

yes.

Sell it all and plow the money into VTI + VXUS in a taxable brokerage or IRA. The metals boom won’t last forever, but index funds will. They will also give you a better return over time.

I have a silver Cartier tray that’s worth more in melt value than actual value. I’m keeping my silver, just one more way to diversify assets.

Anonymous wrote:OP it's silver and marked. it was always worth hundred, but now I suspect thousands, yes.

It's just about weight? nobody cares about maker?

Like solid silver? It's worth $90/ounce...if it weighs 10 pounds, that means it's worth like $14,400.

Yes, the maker may matter...a solid silver Tiffany tray from the 1800s as an example is likely worth a ton more than $14,400. You should look for markings as to who made it and do some Internet research.

The same as coins...while all 1964 and earlier coins are worth their silver content, some from certain years and certain mints are worth far more than their silver content.

OP it's silver and marked. it was always worth hundred, but now I suspect thousands, yes.

It's just about weight? nobody cares about maker?

Anonymous wrote:My kids won't want these silver trays from my grandma. Or the salt and pepper shakers. or the tea set etc

It's kind of a lot of stuff.

Since the price of silver is up, can I assume the price of silver antiques are up? I'd keep the flatware, because I use it. But I have no use for silver coasters for wine bottles or candy dishes.

if I should be selling it - how do I sell it?

Is it silver or silver-plated? If plated, it's not going to fetch you much. If it's pure silver, it could be worth thousands.

Any "we buy gold" type place will pay you cash based on the weight.

I just unloaded about 50 or 60 pre-1964 quarters and got $1,600.

My kids won't want these silver trays from my grandma. Or the salt and pepper shakers. or the tea set etc

It's kind of a lot of stuff.

Since the price of silver is up, can I assume the price of silver antiques are up? I'd keep the flatware, because I use it. But I have no use for silver coasters for wine bottles or candy dishes.

if I should be selling it - how do I sell it?