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Hi Friends, Dan here at garagesalepodcast.com. Today we are going to be talking about silver and how to buy silver inexpensively at garage sales. The first thing you might say is, “Hey what do I do with the silver?” Well people sell silver, you can go to a coin exchange, you can go to a “We buy metal and gold place.” Everybody has their favorite spot.
You find a seller, if you’re that kind of person that wants to sell it. Personally I like to buy it and allow my wife or my daughter in laws to pick through it. I try to let them have it for free. Sometimes we swap a few things, but basically it’s a lot of fun, it’s entertaining and it can be profitable if that’s your goal.
So let’s get right to it. The first thing I bought is a Gorham Silverware set, and I have bought sterling silver Gorham before, I call it like tiffany quality. They are very beautiful. These ones are silver-plated I believe, I haven’t researched them too much, but I got them in a wooden case. I bought them just because I could get them so cheap and because they looked beautiful. Regardless if they are silver or silver plate or something in between, the knives of course are stainless steel with a silver plate handle on them. Regardless, they are just beautiful. You know, I got them for seven dollars. So even if I just use the display for something else, the case, the fact that I got them for 7 dollars, I can’t go wrong and if somebody needs a silverware set in my family they can have it. Gorham is just beautiful.
Moving on, one of the fun things we had going into the Christmas season, you know we’re heading up to Halloween in a couple of weeks so of course were thinking Christmas, my son bought a, something very strange, it’s a collectible one ounce silver Santa Clause coin. It came in a case, and he bought it, it’s one ounce of pure silver, it says right on here .999 troy ounce silver and it says best wishes for peace and joy this holiday season; Santa clause here on the other side. This coin is pure silver and he got it for 2 dollars. The thing is, the lady said, do you know that this coin is pure silver and it’s one ounce, and he goes really, and they negotiated it to two dollars.
The thing is, you do not have to be dishonest in buying this stuff you can have integrity, you don’t have to wheel and deal and connive and do all these kind of strange things. You can go in there and have it be a fun experience because quite honestly people do not want old silver rings they don’t want old silver coins a lot of times, they don’t want old silver jewelry because it’s dirty. Just think about that.
He gets it in the case, I’m guessing it’s uncirculated, never been touched, one ounce of pure silver for two dollars. This is something to look for when you go to garage sales, be sure you look in the Christmas stuff, because there’s quite a few things you can get that are actually silver or pure silver, not just sterling, or as they say .925. This is pure silver.
So we move on to the next thing. Here is a silver ring with like a pearl stone, three pearl stones in it, if we go to our magic scale here, I paid a dollar for it, just because I was having fun. It weighs 3.8 grams. I recommend you do this, just for fun. I keep it for my ring collection, there’s some diamonds in here too. In another show I’ll tell you the difference between diamonds and sapphires or I’ll have somebody else who’s more familiar to come in and talk about it on our show. It’s a beautiful ring, it’s clearly marked .925 and that’s something we will go into later in the show, but we have 3.8 ounces or grams of silver. I’m not going to teach you how to do the math on that today because I don’t want to get bogged down.
Next we have, this is not silver but it is silver in color and I haven’t even looked at it close, but there are these little pins they make, about an inch or an inch by an inch and a half. They are worth about 30 dollars if you were to go on EBay, but I buy them because the girls love them and I gotta put one in my collection. I bought two of them for a dollar a piece I just had to have them, I’ll try to put pictures up on the site, but they are so fun. The artwork is beautiful, they are like hand-painted with stones in them and golden color and they are just fun. It’s just fun and if you can buy a piece of jewelry like this and the store sells them for 30 dollars and you’re buying it for a dollar, well that’s less than our goal. We want to pay 10 dollars for every 100 dollars of merchandise, that’s our goal on garagesalepodcast.com, but this one far exceeds it just because they are very cool, I’ll try to get a pic up of that.
Here’s the thing you can do, when people have silver earrings for sale, especially heavier ones, they will almost give them to you for nothing. Here’s what I got for nothing, we go to the magic scale. It is 1.7 grams of silver, and that’s sterling of course, we will do the math later. It’s marked on the back silver, or sterling, or .925. Not silver, correction it’ll be either sterling or .925. There’s a few other variables in there but this isn’t the show. The more something says silver on it, the less I trust that it’s silver. I want to see sterling or .925 and then there are rules for that which we will explore later.
Moving forward, I want to tell you about this, I’m putting this on the scale, you’re not gonna believe it, this is what you want to get when you’re out shopping. I’ve got 36.9 grams, 37 grams of Italian silver in a necklace, a ball necklace with an Italy marking on it, a little shield for Italy. The clasp is just beautiful. This is the kind of thing, that when you buy it, I spent a dollar for it, it had a tag on it like you would find at an antique store. It is an antique, I was told I believe it was an antique and she just wanted it to go to a good home. So this is going into my collection. But if you were to figure this out at current prices of silver, let’s say it’s 17 dollars an ounce, troy ounce that is, this is over an ounce, so this is maybe twenty dollars’ worth of silver sitting here I got for a dollar. So that fits nicely in my rule, we wanted for every 10 dollars we spend, we want 100 dollars’ worth of value. Because if not, you’re just kind of spinning your wheels, what’s the point? You might as well be going to a regular store and buying the product.
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