More Sterling Scrap Arrived!
Ever since silver broke $30/oz I have pretty much stopped buying. Instead, I've opted to scrap Sterling silver. A lot of times I can find lots of Sterling jewelry, silverware, dishware, etc., and resell the nicer, usable pieces at a premium. This reduces my overall cost for the lots. Whatever is left goes to the refiner and is sent back to me as 1oz silver bars. Those get sold off and whatever is left I keep, so I basically get free silver for putting in a little legwork. 😁
Here's some of the new stuff that I found.
This lot mainly contains small items and broken items, so this one will mainly be scrapped. The 4H pin, small Scarab pendant and GOP convention pin were interesting to see in there.
I suppose I could try and sell the pins and pendants maybe as an assortment at a slight premium, but I wouldn't be surprised if there weren't any takers.
If the items don't sell, they'll be sent off to the refiner and turned into 1oz bars like these.
Most of what I find that sells best are necklaces, rings, bracelets, spoons, cups and dishes. Hopefully the next lot of items I find will have some of those in it. If not, it'll go off to the refiner and I'll have more silver bars heading my way! 😁
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I often check my usual Thrift shops for Sterling silver jewelry but they've always been picked out by the time I get to them. I did have some nice silver finds but it has become very competitive here.
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Yeah, with the price of silver skyrocketing I fear the good finds will become very rare in the short term.
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Oh, I hadn't realised you could send stuff to be refined! The price of silver is insane right now...
It depends on if there's a refiner in your area and if they'll actually make bars or cut you a check, but yes! It's a great alternative!
!BBH
!PIZZA
!ALIVE
Ah... I've searched around a bit... at the moment, it looks like the ones that I've found just pay you cash.
Yeah, that's what most do. The one I use is smaller and makes their own rounds. If you can find one nearby that does that, you should be set.
Smart of you. Here I have been buying at these crazy prices. Perhaps if I had started stacking sooner, things would be different.
It's never too late to start! If you have questions let me know and I can help!
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Scrap is a good move, I haven't been buying much lately either with the prices where they are. If you get some good prices on scrap you can still make some money, nice move!
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Thanks! It can be a bit tricky, but I generally buy at 75% under melt so there's plenty of wiggle room.
!BBH
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!ALIVE
Well, I’m still buying..It’s like would you rather have the paper trash or the silver?
Good point. I just like to get more silver for my paper trash. !LOL
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!PIMP
Cash losing value, silver gaining, hmmmm...easy choice.