What You Need to Know about Investing in Gold Toned and Gold Plated Flatware

Recycling and RefiningRecycle and Refine GoldSmelting and Refining
Written By Barry Lenson

The first thing you need to know about investing in gold-plated flatware is that not every piece of gold-toned flatware contains gold. That’s true because. . .

  • Just about all of the new gold-toned place settings that are made today are actually made of stainless steel that has been colored to look like gold. So even though it looks like gold and can even be labeled “gold flatware” or “gold place settings,” it contains no gold. Fortunately, if you read the descriptions of this kind of flatware, you will always see that the fine print indicates that it is made of stainless steel. Note that the selling prices for a new five-piece setting of this kind of tableware usually runs in the range of between $35.00 and $80.00. By the way, an electrical process, usually not a chemical one, is used to make stainless look like gold.

  • A smaller number of new gold-toned place settings are made of silver that has been thinly coated with gold. It looks like gold because it is. But just because it contains gold doesn’t mean that it contains enough of that precious metal to extract and recycle. Also note that some of the flatware of this kind is made in a hybrid way, with handles that are made of another material like imitation ivory. Why? Because gold, even in small quantities, is valuable and manufacturers don’t want to use too much of it. Note that selling prices for a new five-piece place setting can be in the range of $50.00 to $90.00.

  • You might also find older sets of silver tableware that are made of silver that is plated with a decent quantity of 12-karat or 14-karat gold. If you are looking to make money by recycling older place settings, this is literally the “gold standard” that you are looking for. Usually made 50, 60 or 100 years ago (or even earlier). It contains enough gold and silver to recycle. Bear in mind, however, that the value of this variety of could reside in its value to collectors more than in the value of the gold and silver it contains. Be sure to look for stampings that indicate both metallic content and the name of the manufacturer.

Where Can You Buy Gold-Plated, Gold-Toned, and Gold-Plated Silverware?

First of all, don’t buy gold-toned stainless steel tableware, which doesn’t contain any gold. Gold-plated silver tableware, however, can contain enough gold and silver to bring you a profit.

Where can you buy these items at low prices? Here are some places to try:

  • Catering halls that are going out of business. Although there are exceptions, people generally do not buy and use gold and gold-toned knives, forks, and spoons in their homes. That explains why you are more likely to find it in catering establishments. The whole point of gold-toned and gold-plated flatware is to impress people, which makes it a natural for use at wedding receptions and other special, high-end events. If you can find a catering establishment that is closing down or selling off equipment, however, you might be able to find some gold-toned flatware. Just be forewarned that the gold-colored items you will find will almost certainly be made of gold-toned stainless steel, therefore not valuable. How can you tell? If you have a trained eye, stainless steel simply looks like stainless steel, even if it is colored to look like gold. Also, a quick test performed with an inexpensive gold testing kit (you can find them for sale in Amazon.com) will help you tell whether the flatware you are looking at is really plated with gold.  

  • Estate sales and online sellers. If you are fortunate, you might find a storage chest that contains a set of gold-plated silverware that might contain enough gold and silver to extract. (Again, be aware that the collectible value of older gold-plated tableware could exceed the value of the precious metals it contains.) How can you tell if you are looking at this kind of tableware? First, look for stampings on it; each piece should be stamped with a hallmark that says something like, “14K gold plated.” Another indication is that genuine gold-plated silverware often shows signs of wear, in the form of small scratches or swirls that have resulted from repeated polishing. Gold and silver, after all, are soft metals that do not resist abrasion. That also explains why you will probably not find this kind of flatware in catering halls or restaurants; it is elegant and intended for use in the home, where it needs polishing, protection, and only occasional use.

  • Odd pieces here and there. Spoons, knives, and forks have a way of turning up in all kinds of places – in trays and displays in antique stores, in house sales, and even in your family’s possessions. It could just be that that single, odd gold-colored piece contains enough gold to recycle.

Do You Have Questions? We Have Answers

Whether you find a single gold-plated piece of tableware or a whole set, give us a call at 800-426-2344. Our precious metal consultants can explain what you have found and explain how we can do the testing for you. Your adventure in gold tableware could be just about to begin.

Barry Lenson
Previous

Metal Detector Users Are Finding Lost Treasures and Helping People this Summer
Next

Do You Really Own Precious Items that Other People Have Lost?