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.
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