The value of sterling silver can vary depending on factors such as weight, craftsmanship, and current market conditions. Sterling silver is defined as 92.5% pure silver and is widely used in high-end cutlery, jewelry, and pitchers. The current price of sterling silver is $19.3 per ounce or $0.68 per gram. However, the value of sterling silver jewelry is typically 10% lower than pure silver. To calculate the cost of sterling silver jewelry, multiply the total sterling silver weight by 0.925 as it contains 92.5% pure silver. For example, a 1.75-ounce piece of sterling silver jewelry can be calculated by multiplying 0.925 by $22.76 to get $21.025. Then multiply $21.025 by 1.75 to get $36.31. Its important to note that vintage pieces can be worth far more than the value of the metal itself. While sterling silver scrap is worth 92.5% as much as pure silver, the value of sterling silver flatware is its weight in silver times the spot price of silver. The value of sterling silver jewelry is also influenced by factors such as workmanship and brand.