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What's the rough percentage of silver in silverware?
Sterling silver is 92.5% silver.
Sterling is 925 but not all silver is sterling. OP needs to find that out.
Sterling is
supposed to be 92.5%. After the melt some refiners will claim 90%, etc.
So the formula would be -
1 oz = 0.911458 troy ounces
Ounces * .911458 * 92.5% (or whatever they claim they recovered) * value of silver the day they did the melt * the percentage the refiner will pay (example, 90%).
I recently sold a sterling tea set with a ruined finish to a refiner (and it was ugly as all get out) and put the money towards a new roof.
Compare the value of the melt with what Replacements LTD will give you. I've used them before for purchases and they're good to deal with.