Featured Silver price is looking nicer

Hi everyone,

Just figured I'd mention that the price of silver has been moving up to nice levels again, something I'm always excited to see. Right now the spot price is $23.48 for a pure ounce.

 

Ohh. I need to find more scrap silver. Whenever I post something here it's too good to melt.

 

I find some odd bits but usually don't scrap much.

 

I'm confidently being patient; $40 silver will rescue me, an' a lot of other folks.

 

I currently have 177 POUNDS of scrap sterling that I've been saving/hording/buying/stealing for the past 10 years. I'll dump it at $30

 

Wait for $45

 

Is there a $35 out there?

 

Last time I sold was at $48 , 13 years ago. And now that $48 is worth about $100.

 

solar panels and electric cars both use a fair amount of silver....so for the moment , it's a buy and hold item.

 

I too have a scrap drawer. I have warned my daughter and marked it as sterling scrap. I had a customer that was melting down his sterling himself to take up less room . I didn't think that was a great idea.

 

Lessee...I'll assume you're talking avoirdupois. That works out to ~2581 oz Troy...at $30 that's just over $77K!

Oops...sterling is .925, so only ~$71.6K; good enough, 'tho!

Sounds like a plan, Stan!

 

Makes it harder to sell to some folks. People like to see the marks. I don’t trust anyone selling home melted sterling. I mean I’m sure most of them are probably legit but I wouldn’t put money into it unless I reallllly trusted them and was getting a realllly good deal. I see it more and more lately. If you’re a big buyer operation and can just drill and test samples easily then it probably doesn’t matter. That’s who home melteds probably want to sell to anyways. I do see people trying to sell smaller sterling home pours lately though on FBMP.

 

I’ve been thinking I should drag out some of the ugly stuff and try to get a good price while it’s up this high! I usually procrastinate until it’s too late. Gold is also ticking up a bit.

 

This used to be several banker's boxes of weighted crap

Using a little tabletop electric thing that doesn't really get quite hot enough to make it to pouring. Went through two graphite crucibles already.

 

That is awesome! Also so ugly most home invaders would probably see it and skip right over it. Ugly in the most beautiful way possible I mean.

 

The idiots looking for Ipads would think it was garbage.

 

It nearly is. Selling that as sterling will be a serious challenge, if Spot price is expected.

 

My father reclaimed pure silver from expended developer and fixer in a hospital x-ray department darkroom. He'd manage to glean 10 or 12 pounds a year from a small town private hospital. Occasionally, he'd sell it to a jeweler in town. When he passed away in 1994, he still had 20 or 30 lbs. We eventually sold it in the early 2000's, for under $5.00/oz. Wish I still had it.

On a side note, the jeweler he sold to had closed, and I had to find another buyer. No one wanted it because it was just a chunky black powder. I finally found a wholesaler that understood where it came from, and hence what it was. He tested a sample, and was happy enough to make a good (for the time) offer.

I really though the bottom would fall out of the silver market as photography went digital. That's one reason I sold when I did.

 

A late poster here did the same thing when his hospital cleaned out the old x-ray files. Made himself a decent paycheck out of it. A scrapper liked old x-rays just fine.

 

Yeah, there was value in the films themselves. My father wouldn't take the old films, as they were part of the patients medical record for a certain number of years. The expended chemistry was fair game, though!