posted 09-08-2009 08:39 PM            

However, in this crazy economy, there's another benefit -- with so many experts saying that inflation may result from projected trillion dollar deficits, metals like silver and gold, which have traditionally held their value, may become more desirable. It's shocking to us that handmade pieces by highly-regarded silversmiths like Lebolt or Randahl still sometimes sell for around their melt value. If you were to commission these pieces today you'd end up paying a whole lot more. Perhaps this is about to change.

There was a story today on Bloomberg.com that said gold prices had passed $1000/ounce, and that silver was approaching $17/ounce. Those heavy sterling bowls and trays in our vaults are not only lovely objects, but these days may be a potential hedge against inflation.

There's a big difference between a silver bar and piece of holloware, and nobody can predict the future, but it's nice to know that the lovely metal we all revere for its dense, shimmering, solid beauty is also a potentially great way to weather monetary storms. It may also help jump-start the market for silver objects.

Here's an example -- we bought this DeMatteo handwrought tea set many years ago:

posted 09-09-2009 12:00 AM            

Isn't that what happened last time silver values were very high?

posted 09-21-2009 01:06 AM            

1st.. "Chicago Silver". Lovely service... I just sold a 4 pce Demateo set, same design, 2 pots + cream & Sugar, and although you and I really respect the maker, the public would rather have Jensen, and pay for Jensen. And for some stupid, unknown reason, Randal and Lebolt play second fiddle to KALO (all Chi town silversmiths).

2nd... As one who makes his living in the precious metals market (mostly silver), I can tell you what happens to 99% of the silver sold for scrap (melt). Two things..
With the economy stressing all our wallets, even scrap dealers are looking to make any extra dollar they can. A lot of coin shops and refineries, and hotel buyers, are listing their items for sale on the internet. If the pieces do not sell, they usually melt them. The second thing these folks do, is sell it up the line, for scrap. And, if it is a good piece, it will get pulled by one of us who likes to make a little more money. The crap gets melted.. After all there is only so much room in a shop.

As for homeowners who worry that their silver will be stolen, yes, it will happen more often because times are hard. If you have silver at home, get a written appraisal, and if you need an insurance rider, pay for it. Keep a copy + photos in a safe place (a bank lock box), so if , god forbid, the house burns down, you have records.

And concerning silver value vs. art value, if you love it, you keep it, if you need to eat, you sell it, and you deal with the big gray area in between on an individual basis.

Always a pleasure.