In general, the answer to this question is , “Yes”. The price of commodity silver on the world market has risen about 25% in the past three months. Anyone who has been thinking of selling a set of sterling flatware may find that a higher price can be obtained today versus three months ago.
Used sterling flatware offered for sale by established dealers most often is sold at a price much higher than the scrap value of the flatware. Therefore, one will not notice frequent swings in these prices as the world commodity silver price rises and falls. They will change over time but not quickly. The dealer typically values such flatware based upon its design and popularity in the marketplace. Scrap value pays a part in pricing but it is not the most important factor.
On the other hand, an individual selling sterling flatware is not able to command the prices charged by dealers. The market price in such cases is much closer to the scrap price. The market price most often is still higher than the scrap price but the difference is not as great as it is when a dealer prices such flatware. So, when the world market price rises, this often nudges the flatware market price upward as well even when the market price is already above scrap value. So, suppose an individual trying to sell a set of sterling flatware with a popular pattern in January 2016, found that the market price was $1,000. Today, that seller might find the market price to be around $1,200. In a sense, the rising commodity price “lifts all boats”.
Patterns that already have a high value because they are rare but in demand will not be affected as much by the rising commodity price.
So, for those wishing to sell sterling flatware (or other sterling items), it’s worth following the world silver price. Here’s an easy place to check it: Kitco.com.