Need Maths help!

[NikolaAnne]

I bought a long time back a chunky 925 silver necklace in Brighton. Total impulse buy, and I didn't really have the cash for it. The piece sang to me.. I said to the seller that if it was still on the stand on my way home I was meant to have it. And there it was, waiting for me...

I paid "weight price" for it, which all those years ago was £120. An utter fortune to me back then.

The thought hit me just now as I looked at it in my drawer, how much is it worth now?

So, I weight it. It's 140g.

But, if I multiply that by 13 (rounded current £ silver price) the calculator tells me 1820. Which given I know my 10z rounds at 312g were around £13 an ozt and only £160 in the recent group order, I'm doing my maths very very wrong.

Ah! As I type that I figured out what I'm doing wrong... I'm multiplying by the ozt price, not the g price! D'oh!

It's late, don't mind me. Enjoy the picture of my necklace (cos I did all this typing on my phone, so it seems a shame not to post!)

[NikolaAnne]

Ooof! It's now £51.80.

So spot must have been over double what it is now! It was about 20 years ago, and I had no conception at all about PM metal worth.

Or the seller wasn't that honest in her price for selling by weight... 

*Sad face* for depreciation.

Still happy I own my lovely necklace though!

[richatthecroft]

Yes- Intrinsically around £50- but it sounds like it has provided much enjoyment over the years so what its worth in cash doesn't really matter- continue to enjoy owning and wearing it.  

[jamshaid]

if you take into consideration the beauty of the piece, I am sure it is worth more than its silver content. Although a nice heirloom to pass on!

[sixgun]

The item weigh 140g or 0.14kg = 0.14  x 32.1 oz = 4.49oz Sterling = 4.49 x 0.925 = 4.16oz pure silver

4.16 x £11.57 = £48.09

This is a slight overestimate as i see none silver beads - the bracelet is nice - It is worth what someone is willing to pay - never sell as scrap.

Someone was willing to pay £120 all those years ago.

[SiliconToad]

Jewelry has an element of craftsmanship that adds value to the base metal. Enjoy it for what it is - wearable art made from a precious metal that you love. 👍 

[Draconicus]

8 hours ago, jamshaid said:

if you take into consideration the beauty of the piece, I am sure it is worth more than its silver content. Although a nice heirloom to pass on!

What he said! Most of the time in jewellery  don't must be counted just the precious materials weight! There's always it's antiquity, the work and beauty of the piece  to account to.