Rise in sales of family silver seen in Birmingham Jewellery Quarter

The price of silver reached nearly £30 per ounce in 2011

Increasing numbers of people have been selling off the family silver amid rocketing prices, according to Birmingham jewellery traders.

Terry Ann Stephenson, of Lois in the city's Jewellery Quarter, said the high prices meant many items were more valuable sold as scrap rather than for their antique value.

"It's such a shame, but at the end of the day it's just a sign of the times," she said.

"You know people are struggling for money and it's just a way of getting money together to pay bills."

UK silver prices, which were below £4 per ounce in 2003, reached an all-time high of nearly £30 per ounce last year.

The price is currently about £19 per ounce, but selling old silver is still considered a profitable outlet for many people.

Jewellery Quarter traders say they have seen increasing numbers of people turning up with bags containing items such as trophies, cutlery, bracelets and necklaces.

Read More - http://www.bbc.co.uk/news/uk-england-birmingham-18003924