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I thought it was on the MH page but maybe he doesnt buy 40% and War Nicks. I was trying to find out what are refiners paying for war nickels as well as 40%. I assume its a % of spot price. I know you can probably get more selling them to someone whos not a refiner but just looking for answers as well as references if you have any.

Thanks

The place I usually go to right now pays around 9X face for 40%, but the warnicks are strange. I called them a couple of days ago and they said they sell for $2 each, but they only pay 75 cents each. Something did not sound right there.

apmex is curently paying 33x $33 for $1fv
http://www.apmex.com/Category/1125/35_S ... ckels.aspx

just PM TMAT and then your work is done!

Still trying to find my answer. Does anyone know what refiners are paying on these. The people who will get them, and melt them, refine them. Anyone?

Most of the 40% is destined for melting. The warnix are tougher as they contain magnesium and (my understanding is) many are melted outside the US due to EPA regulations. Buy prices are likely under spot as they have a high risk already of the price dropping. In the case of the 40%, the smelters also recover some CU and Ni in the process.

My best guess is that refiners will pay 5-7% under spot for smaller lots and 1-3% under spot for larger lots. Smaller sellers with values under $25k may not even be of interest unless they have customers waiting. Keep in mind, too, that there's a cost (usually borne by the seller) just to get it to the refiner. Some may split for long-time customers, but they usually compensate for that through in other ways.

MH doesn't typically deal in 40% and War Nickels. Frankly, I don't blame him.

Called a local small refinery near me. They pay 65% of what they actually recovey of the silver for war nicks. Having nothing to compare that to I am not sure if that is good or bad. Maybe in bulk they could do do a little more?

He said its so low because "The mangenese destorys the silver" during the melting process.