Does anyone buy/sell sterling silver? If so, what % of market value do you get for flatware or other items that would get melted down? I've seen what appear to be amazing deals and don't want to get burned, but being able to triple my money and/or hold precious metal for economic collapse would be nice.
flatware silver is not pure. Its alloyed. not worth as much. but still worth a bit o jack.
also, lots of fake silver rounds and bars out there from china. Be sure to have a valance meter to check fyour metals before purchase.
They are cheap and available on ebay.
When you see “.999 fine silver” or “999” stamped on an item, it is considered pure silver. It is softer and more malleable than sterling silver. It is used in bullion bars, and is also known as three nines fine.
Sterling silver (also known as standard silver) is what jewelry and silverware are traditionally made from, which is 92.5% silver and 7.5% copper. That is why you sometimes see .925 stamped on your jewelry. In the U.S., only a minimum of 92.5% fine silver can be marketed as “silver.”
Sterling silver jewelry is often plated with a thin coat of .999 fine silver to give the item a shiny finish (called “flashing”). Silver will tarnish unless an anti-tarnish coat is added. Rhodium is sometimes used for this thin coat because it is very shiny and never tarnishes. However, rhodium is a very expensive option compared to the silver finish.
Coin silver is an alloy of 90% silver and 10% copper. Therefore its millesimal fineness is 900, also known as one nine fine. Most United States silver coins are made of coin silver.
Junk silver is an informal term used in the United States, United Kingdom, Canada, and Australia for any silver coin which is in fair condition and has no numismatic or collectible value above the bullion value of the silver it contains. Such coins are popular among people seeking to invest in silver, particularly in small amounts. The word “junk” refers only to the value of the coins as collectibles and not to the actual condition of the coins. Also, junk silver isn’t necessarily scrap silver.
A silver-plated item has a thin coating of silver deposited onto a base metal which has a lower value than silver. Once used as plating, silver cannot be easily recovered, so it is of no value to those who are accumulating silver as an investment. EPNS means electroplated nickel-silver and is sometimes stamped on silver-plated items.
So, if you have a bar of silver and you take it to a dealer, it has a value of $7.(I'm just making up a situation.) How much will that dealer pay. (If it's $7, how does he make any money?) If you have 1000grams of sterling silver flatware worth $0.78 per gram how much is a dealer likely to pay for it? Im assuming he makes some profit and doesn't pay the $780 face value. It has to be melted and purified after all.
Was that you in the video stealing catalytic converters? JK Seriously, what is your end goal? Are you expecting to get more efficient at it? Grow your operation?
The spot price is simply the price at which a commodity could be transacted and delivered on right now. This is in contrast to futures or forward contracts. The spot price of gold refers to the price of one ounce of gold and the spot price of silver refers to the price of one ounce of silver.
There is usually a bit of "vig" on bullion transactions. Think of it as a handling fee. So usually you buy at spot, plus a bit evtra for profit for the trader/converter
[ + ] veggy
[ - ] veggy 7 points 3 yearsApr 6, 2022 20:50:40 ago (+7/-0)
also, lots of fake silver rounds and bars out there from china. Be sure to have a valance meter to check fyour metals before purchase.
They are cheap and available on ebay.
When you see “.999 fine silver” or “999” stamped on an item, it is considered pure silver. It is softer and more malleable than sterling silver. It is used in bullion bars, and is also known as three nines fine.
Sterling silver (also known as standard silver) is what jewelry and silverware are traditionally made from, which is 92.5% silver and 7.5% copper. That is why you sometimes see .925 stamped on your jewelry. In the U.S., only a minimum of 92.5% fine silver can be marketed as “silver.”
Sterling silver jewelry is often plated with a thin coat of .999 fine silver to give the item a shiny finish (called “flashing”). Silver will tarnish unless an anti-tarnish coat is added. Rhodium is sometimes used for this thin coat because it is very shiny and never tarnishes. However, rhodium is a very expensive option compared to the silver finish.
Coin silver is an alloy of 90% silver and 10% copper. Therefore its millesimal fineness is 900, also known as one nine fine. Most United States silver coins are made of coin silver.
Junk silver is an informal term used in the United States, United Kingdom, Canada, and Australia for any silver coin which is in fair condition and has no numismatic or collectible value above the bullion value of the silver it contains. Such coins are popular among people seeking to invest in silver, particularly in small amounts. The word “junk” refers only to the value of the coins as collectibles and not to the actual condition of the coins. Also, junk silver isn’t necessarily scrap silver.
A silver-plated item has a thin coating of silver deposited onto a base metal which has a lower value than silver. Once used as plating, silver cannot be easily recovered, so it is of no value to those who are accumulating silver as an investment. EPNS means electroplated nickel-silver and is sometimes stamped on silver-plated items.
[ + ] Vrbllpollushin
[ - ] Vrbllpollushin 3 points 3 yearsApr 6, 2022 22:40:13 ago (+3/-0)
[ + ] SparklingWiggle
[ - ] SparklingWiggle [op] 0 points 3 yearsApr 6, 2022 22:03:54 ago (+0/-0)
If you have 1000grams of sterling silver flatware worth $0.78 per gram how much is a dealer likely to pay for it? Im assuming he makes some profit and doesn't pay the $780 face value. It has to be melted and purified after all.
[ + ] Unreasonable
[ - ] Unreasonable 0 points 3 yearsApr 7, 2022 09:25:06 ago (+0/-0)
You have to call to find the best deals.
[ + ] SparklingWiggle
[ - ] SparklingWiggle [op] 0 points 3 yearsApr 7, 2022 11:10:52 ago (+0/-0)
[ + ] Deleted
[ - ] deleted 1 point 3 yearsApr 7, 2022 00:29:21 ago (+1/-0)
[ + ] SparklingWiggle
[ - ] SparklingWiggle [op] 0 points 3 yearsApr 7, 2022 08:16:40 ago (+0/-0)
Seriously, what is your end goal? Are you expecting to get more efficient at it? Grow your operation?
[ + ] FreeinTX
[ - ] FreeinTX 1 point 3 yearsApr 6, 2022 21:05:27 ago (+1/-0)
[ + ] SparklingWiggle
[ - ] SparklingWiggle [op] 0 points 3 yearsApr 6, 2022 21:58:15 ago (+0/-0)
[ + ] veggy
[ - ] veggy 0 points 3 yearsApr 6, 2022 22:52:47 ago (+0/-0)
There is usually a bit of "vig" on bullion transactions. Think of it as a handling fee. So usually you buy at spot, plus a bit evtra for profit for the trader/converter
[ + ] SparklingWiggle
[ - ] SparklingWiggle [op] 0 points 3 yearsApr 7, 2022 11:19:19 ago (+0/-0)