Sterling
Posted: Sat Mar 17, 2012 6:57 pmIs ther a "standard" pricing formula for buying sterling? What do you guys normally pay for sterling?
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Posted: Sat Mar 17, 2012 6:57 pmRe: Sterling
Posted: Sat Mar 17, 2012 8:00 pmsterling is 92.5% silver. Refiners will usually give you no more than 90% of it's silver content at best, possibly 85%. Knowing that, would it be lucrative to you to tie up more than 70 or 75% of your money in sterling items?
Re: Sterling
Posted: Sun Mar 18, 2012 12:06 amdid u read the thread at the top of this section, called
"silver weight conversion & melt calculator"
"silver weight conversion & melt calculator"
Re: Sterling
Posted: Mon Mar 19, 2012 12:24 amCu Later wrote:did u read the thread at the top of this section, called
"silver weight conversion & melt calculator"
Decent advise if your looking to find out actual silver is in there to calculate up the Comex spot price for silver. For buying and reselling purposes please read Beauanderos comments and adjust your pricing accordingly if trying to flip.
Re: Sterling
Posted: Mon Mar 19, 2012 2:27 amDiscount Sterling heavily as if dealing with foreign and other kinds of silver that arent US or .999
As of $33/oz, 80 cents/ gram was the best price offered. So thats about 80% of melt. It can vary a little higher or lower, but thats the general rate for scrap sterling in the form of jewelry, flatware, bowls,etc.
$33 x .925= $30.25 ASW per troy of 925 $30.25/31.1= .98 Cents a gram .98 cents/gram X 80% of melt= .785cents a gram I would be near or under 80% of melt when buying these items, more under if you wish to flip them for profit
Interesting, name brand, sterling coins,etc often command higher prices
Keep in mind that when 90% US junk silver can be had at spot, scrap sterling must be discounted behind spot because if your going to buy silver, most people will choose 90% at spot Vs Sterling at spot
The discounted rate is needed to get people interested in een looking at sterling, in addition to refinery issues (if you plan on taking that route sending things to a refinery)
As of $33/oz, 80 cents/ gram was the best price offered. So thats about 80% of melt. It can vary a little higher or lower, but thats the general rate for scrap sterling in the form of jewelry, flatware, bowls,etc.
$33 x .925= $30.25 ASW per troy of 925 $30.25/31.1= .98 Cents a gram .98 cents/gram X 80% of melt= .785cents a gram I would be near or under 80% of melt when buying these items, more under if you wish to flip them for profit
Interesting, name brand, sterling coins,etc often command higher prices
Keep in mind that when 90% US junk silver can be had at spot, scrap sterling must be discounted behind spot because if your going to buy silver, most people will choose 90% at spot Vs Sterling at spot
The discounted rate is needed to get people interested in een looking at sterling, in addition to refinery issues (if you plan on taking that route sending things to a refinery)