Fork and Spoon Jewelry: Rising Silver Prices. When will they stop?

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Rising Silver Prices. When will they stop?

05/16/2008

As of the writing of this post the market price for silver is at $19.81 per ounce. Almost double that of a year ago and triple that of two years ago. The high price of silver is putting a pinch on anyone that works with silver. It causes one to ask, when will it stop?

Just like other market driven commodities, predicting when silver will stop its rise is like predicting the weather. Based on history it could keep going to twenty or twenty five dollars an ounce, it could even hit thirty dollars an ounce, but then the sun could stop shining also. I heard this the other day; a weak US dollar equals higher silver prices. The dollar keeps dropping in value and the price of silver keeps rising, this makes sense. The rising market price of silver has an effect on the cost of sterling silver flatware and findings used to make both sterling silver and silverplate flatware. Sterling silver flatware usually has an intrinsic value, related to its quality as flatware or its pattern desirability. When the market price for silver rises to the point where it surpasses the intrinsic value of the flatware, the prices for sterling silver flatware rise to a point where it could possibly price the flatware out of a reasonable range for spoon jewelry. Usually the intrinsic value of the flatware is greater than the market value of the silver. When this reverses the scrap buyer is attracted to the game and an increase in competition for sterling silver flatware occurs. This is where the sterling silver flatware market is now.

The market for silverplate flatware is usually not affected by the silver market. There is the rare occasion when a buyer pays too much for silverplate flatware because they are not aware of the difference between sterling silver flatware and silverplate flatware.

So when will it stop? I don’t know. But I will say this. When everything that has caused the market price for silver to reach a twenty year high reverses, then so will the silver prices. I hope.

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