Island Life Magazine Ltd August/September 2010 | Page 80

antiques Philip Hoare - F.T.V.I Island Life - August/September 2010 Antiques and Collectables Is Silver an investment? There has, over the last eighteen shapes and its lack of corrosion makes both for industrial and investment months, been a significant increase it ideal for storage. continues to rise, hence the in the value of silver as a commodity; Silver became a fundamental for considerable increase in scrap silver indeed its scrap value is standing at just exchange; The Laurium Mines near which is melted down and recycled as below £10 per troy ounce. Of course, Athens were, for approximately 100 bullion. Most of us have some silver rare and intricately detailed silver pieces years up to the 1st century AD, the items in our homes, jewellery, forks, have a hefty premium and the quality leading producers of silver in the spoons, perhaps even family heirlooms, of the workmanship on an object will ancient world. After this, the Spanish tea sets, vases, trophy cups – the list is override the intrinsic value. mines became the leading producers of endless. Only silver items of exquisite The demand for silver is based silver for the next one thousand years in workmanship and rarity are still sought on three primary uses; industrial, the old world. Everything changed from after by connoisseurs and collectors. photography and jewellery/silverware. circa 1500, when the new world of The majority, certainly of 19th Century These three areas represent 95% of South America and Mexico became the mass-produced silverware is worth no worldwide silver consumption. Silver leading producers (billions of ounces) more than scrap value. With the value has been highly prized since the mainly for coinage. The Spanish Reales at around £10 per troy ounce there has earliest time, due to the easy way in (0.8 oz silver) minted in Mexico and never been a better time to sell. which it could be worked into useful Peru were used for trading for over 200 A London silver buyer will be on years and the Marie Theresa Thalers the Island every Friday and will give containing (0.8 oz silver) all dated 1780 free professional advice on silver and and over 400 million have been minted jewellery. and are still used for currency in many parts of the Third World. Originally, most European and US coins were of higher value and were For further information contact Philip Hoare o n 07773 877 242 0r at [email protected]. Or visit www. philiphoare.com pure silver. This is no longer the case and, with the exception of Mexico, no other country uses silver in its coinage. Interestingly, over the last 20 years, many countries have produced proof and commemorative coins in pure silver for investment. The United States, for instance, produced a silver 999 fine silver eagle bullion coin (a one ounce bullion coin with a face value of $1) which has sold over 165 million. The demand for silver throughout the world Philip Hoare is a Fellow of the Trade Valuers Institute - Mob: 07773 877 242 Email: [email protected] - Tel: (01983) 523331. 80 Visit our new website - www.visitislandlife.com