Well actually, no. When you "scrap" Sterling Silver, you can take your items to a Jeweler or We Buy Gold store, they will weigh it, and pay you based upon the actual precious metal weight, the current silver spot price, and their percent-of-spot-price-payment-factor. Those items will then be melted, the precious metal will be recovered, and turned into bullion bars or some other form.
Although "Silverplated" items are coated with a very thin layer of pure silver, that coating is usually so thin that it can't be recovered in a financially feasible way. Based upon our experience, those businesses that advertise "We Buy Silverplate" are usually using that as a lure to get you into their stores with your gold and sterling silver items.
WHAT'S IT WORTH? Having nominal "Scrap Silver" value, most Silverplate also has nominal utilitarian value as well. Why? Because few want to polish silver today. Unless you have exceptional items, sometimes donation can be a viable disposition option.
Mike Ivankovich is an Auctioneer, Appraiser, Home Downsizing Expert, and host of the "What's It Worth? Ask Mike the Appraiser" Radio Show that airs live in the Philadelphia PA area on Friday mornings from 9-10 AM EST on WBCB 1490 AM and on the Internet at: www.WBCB1490.com His show also airs in Denver CO on KEZW Cruisin 1430 AM on Saturdays from 3-4 PM MST & Sundays from 11 AM-12 Noon MST, and on the Internet at: www.Cruisin1430.com
You can also visit: www.AskMikeTheAppraiser.com