You are not the owner of your grandmother's silver. You are its caretaker for the next generation of the family. It's far more than money -- it's part of your family's history, and it has a story to tell. Should you decide to sell it, it is gone forever.
Don’t sell it yet. Silver prices are being artificially suppressed right now. If you were to take the national debt and divide it by the total US silver reserves, the price of silver would be worth about $1400/oz. Eventually, the Federal Reserve fiat dollar is going to implode and be worthless. Countries will have to back their currencies with something like precious metals. I expect when the petroleum based US reserve currency is no longer the world reserve currency, precious metals will go through the roof.
Silverware -- the real stuff -- is both a set of tools to eat with and a precious metal investment.
You aren't using the silverware at dinner, so if you think silver will drop in value (not dollar amount, since dollars themselves are dropping in value thanks to the FED and Congress), it would make sense to sell it now.
I think silver will become far MORE valuable going forward -- it is well below historical norms vs. gold right now, for one reason -- but that's me. What do YOU think?
If you believe, as I do, that silver will become more valuable, that argues for hanging on to it. You can't eat silver spoons (or plenty of other forms of wealth) and if deep and widespread famine occurs, you'll probably wish you'd bought extra freeze-dried food, body armor, ammo, bullet-proofing for your exterior walls, etc instead of keeping the silver.
But short of THAT, in a deep economic depression and with food scarce but not unobtainable, then silver rounds, coins, jewelry, and other forms of silver (like what your grandmother left you) could be extremely useful. Like gold, silver has been used as money and barter for thousands of years, and for good reasons.
Well, I keep seeing this about silver and gold not helping when civilization breaks down, and remembering a Czech friend telling me how they were aided during WWII and the aftermath because they had a very small stash of silver, which they would occasionally use a smidgen of, so there was a way. And I think it has always been that way. You won't trade silver to someone who only has a can of corn, you find someone who has a little more, who can trade a can of corn for future value. This is how the rich get richer.
I switched my wedding stainless steel pieces to silver sets I found on ebay. Silver is great for everyday use because of its antibiotic properties. If you use them often, they won't tarnish. They don't take too much time to wash (I have a family of 7 and I just have everyone wash their own dishes after each meal--we don't have a dishwasher.) I honestly think we don't get colds often is because we use the silver vs. steel or plastic.
I also look out for silver bowls to use for the pets water dishes. I love how the water stays fresh in the silver bowl, doesn't attract mold or slime.
A worthless piece of paper that gets more worthless with every passing day. I'm not even being sentinmental about it being from grandma. I'd base my decision on cold hard reality.
My brother has collected old silver coins for decades. He was talking about selling them all a few days back because they are worth a lot now just for their silver content. My advice to him was the same; don't sell.
I get it, you cant keep everything because its an heirloom.
Simplyme has the answer… its either an object of cash value or priceless to you or someone in your family.
It is said, and I could be wrong of course, that silver is really undervalued. That it's price has been manipulated for years but given that it's necessary in electronics, its true value is much higher. One day there will be a day of reckoning. However, I've been hearing this for a while. I do think it'll be really high in value one day and unless you are really needing that usd, you might as well stash it away.
Save it, is my opinion. The value of silver is up and so is that of flatware. You can get a tarnish resistant cloth to cover it and save cleaning and wear from polishing. But only you can say whether the emotional attachment is worth the money you might get. I would look for similar items on Etsy and eBay and just watch the prices to guage the market. On eBay you can search for the sold price and see how that compares to the ask price. Also, I remember a big silver craze years ago, a lot of people turned everything sterling into $$$. The dollars are gone now and so are many beautiful items. If you sell it, it could be the same, would that be a regret?
Keep it,it will go up in price pretty soon. Also buy more,a lot of us are on r/wallstreetsilver they have some very good info on silver buying and the place is really based,membership of around 200k
If a SHTF situation happens, how will you barter a silver spoon for a can of corn? Would any of your neighbors want to make that transaction? Or will they hang onto their can of corn so their belly will be full?
When dollar crashes, shtf situation, then silver will be something tangible that you could barter with and hoping you have the wits to get far more than just a can of corn. People will still need to barter, and precious metals hold on to their value better than unbacked pieces of paper.
You are not the owner of your grandmother's silver. You are its caretaker for the next generation of the family. It's far more than money -- it's part of your family's history, and it has a story to tell. Should you decide to sell it, it is gone forever.
Don’t sell it yet. Silver prices are being artificially suppressed right now. If you were to take the national debt and divide it by the total US silver reserves, the price of silver would be worth about $1400/oz. Eventually, the Federal Reserve fiat dollar is going to implode and be worthless. Countries will have to back their currencies with something like precious metals. I expect when the petroleum based US reserve currency is no longer the world reserve currency, precious metals will go through the roof.
^^^^This ^^^^
Keep it. Enjoy it for the sentimentality and beauty. I'd only suggest selling if you are in extreme need.
Silverware -- the real stuff -- is both a set of tools to eat with and a precious metal investment.
You aren't using the silverware at dinner, so if you think silver will drop in value (not dollar amount, since dollars themselves are dropping in value thanks to the FED and Congress), it would make sense to sell it now.
I think silver will become far MORE valuable going forward -- it is well below historical norms vs. gold right now, for one reason -- but that's me. What do YOU think?
If you believe, as I do, that silver will become more valuable, that argues for hanging on to it. You can't eat silver spoons (or plenty of other forms of wealth) and if deep and widespread famine occurs, you'll probably wish you'd bought extra freeze-dried food, body armor, ammo, bullet-proofing for your exterior walls, etc instead of keeping the silver.
But short of THAT, in a deep economic depression and with food scarce but not unobtainable, then silver rounds, coins, jewelry, and other forms of silver (like what your grandmother left you) could be extremely useful. Like gold, silver has been used as money and barter for thousands of years, and for good reasons.
Trade it spoon by spoon in that case.
Well, I keep seeing this about silver and gold not helping when civilization breaks down, and remembering a Czech friend telling me how they were aided during WWII and the aftermath because they had a very small stash of silver, which they would occasionally use a smidgen of, so there was a way. And I think it has always been that way. You won't trade silver to someone who only has a can of corn, you find someone who has a little more, who can trade a can of corn for future value. This is how the rich get richer.
I switched my wedding stainless steel pieces to silver sets I found on ebay. Silver is great for everyday use because of its antibiotic properties. If you use them often, they won't tarnish. They don't take too much time to wash (I have a family of 7 and I just have everyone wash their own dishes after each meal--we don't have a dishwasher.) I honestly think we don't get colds often is because we use the silver vs. steel or plastic.
I also look out for silver bowls to use for the pets water dishes. I love how the water stays fresh in the silver bowl, doesn't attract mold or slime.
I'd keep it. Use for holidays, stash in a safe the rest of the time. You'd always have something to sell. It's an emergency fund
Keep.
What are you going to get for it?
A worthless piece of paper that gets more worthless with every passing day. I'm not even being sentinmental about it being from grandma. I'd base my decision on cold hard reality.
My brother has collected old silver coins for decades. He was talking about selling them all a few days back because they are worth a lot now just for their silver content. My advice to him was the same; don't sell.
Polish each piece with memories of her life, the answer to your question will be revealed.
I get it, you cant keep everything because its an heirloom. Simplyme has the answer… its either an object of cash value or priceless to you or someone in your family.
It is said, and I could be wrong of course, that silver is really undervalued. That it's price has been manipulated for years but given that it's necessary in electronics, its true value is much higher. One day there will be a day of reckoning. However, I've been hearing this for a while. I do think it'll be really high in value one day and unless you are really needing that usd, you might as well stash it away.
Save it, is my opinion. The value of silver is up and so is that of flatware. You can get a tarnish resistant cloth to cover it and save cleaning and wear from polishing. But only you can say whether the emotional attachment is worth the money you might get. I would look for similar items on Etsy and eBay and just watch the prices to guage the market. On eBay you can search for the sold price and see how that compares to the ask price. Also, I remember a big silver craze years ago, a lot of people turned everything sterling into $$$. The dollars are gone now and so are many beautiful items. If you sell it, it could be the same, would that be a regret?
Then you have your answer. When you give up your stuff, it's all gone.
Keep for your kid's kids.
Keep it,it will go up in price pretty soon. Also buy more,a lot of us are on r/wallstreetsilver they have some very good info on silver buying and the place is really based,membership of around 200k
If a SHTF situation happens, how will you barter a silver spoon for a can of corn? Would any of your neighbors want to make that transaction? Or will they hang onto their can of corn so their belly will be full?
When dollar crashes, shtf situation, then silver will be something tangible that you could barter with and hoping you have the wits to get far more than just a can of corn. People will still need to barter, and precious metals hold on to their value better than unbacked pieces of paper.