It's been a while since I scrapped for silver. I got out of it due to time constraints, and towards the end it stopped being fun for me. With the price of silver at almost $50/oz, I figured I'd try it again. I really don't want to pay that much for an ounce of silver. If I can get scrap silver below melt in lots of miscellaneous jewelry, silverware, cookware, etc., I can sell the good pieces to cover my costs and send the rest to the refiner to be turned into bars to add to my stack.
When silver was cheaper, it was easy to scrap it. With everyone trying cash in on the surge in price, I figured it'd be harder to find good deals. I checked my usual sources and was pleasantly surprised to find there will still deals around if you look long enough.
A lot of things are overpriced, but there are still some decent jewelry lots you can find. Oddly enough, people will pay a premium for usable Sterling silverware in good condition, and even more for jewelry.
I'm especially eager to look at this lot. If you look closely, there's a Sterling silver pen in there. If it works, that piece is becoming part of my collection. 😁
When I was previously scrapping silver, I'd wait a few weeks after something hadn't sold through multiple rounds of sales. This time around, it'll be one and done. Anything that doesn't sell will go off to be turned into bars. I'll sell the bars to cover any outstanding costs, and what's left from it gets added to the stack. Rinse, repeat, and stack! 😁
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Sounds like a good plan. You'll pay a fee for something to be turned into stack wouldn't you?
And the silver pen should work, at the very least you change the ink 😂
Yeah, the fee ranges from 10-20% depending on the weight of how much I send them. Higher amounts = a small cut taken out. 🙂
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