# Selling Silver - Any way to get better than 90% cash value?



## snoman701 (Feb 3, 2017)

On greater than 500 troy ounces I can get 95% from a local refinery. 

Beyond that though, given clean either sterling, or even .99 silver that's been through a silver cell, is there any way to get better than 90%, without minting your own coin.


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## anachronism (Feb 18, 2017)

When you say "cash" do you mean cash as in folding bank notes with no paperwork?


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## Iggy-poo (Feb 18, 2017)

anachronism said:


> When you say "cash" do you mean cash as in folding bank notes with no paperwork?



Especially on a public forum. Smells fishy to me too.


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## Topher_osAUrus (Feb 18, 2017)

I think he meant "better than 90% of spot value"

But, I suppose that's not for me to assume.

I sent him a message saying I pay more than 90% of spot for sterling. 92% to be exact.. But, I dont sell my silver, I stock it.. The only thing is, usually, I am able to at least see and test it before I buy it.. There is a whole lot of fake silver out there..


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## anachronism (Feb 18, 2017)

Apologies guys I probably didn't come across as I should have! Yes i meant cash dollars but I was genuinely meaning that. As opposed to "on invoice" because I didn't understand what Sno meant.


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## justinhcase (Feb 18, 2017)

https://www.youtube.com/watch?v=6dJ8r6zkJBQ


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## Tndavid (Feb 18, 2017)

justinhcase said:


> https://www.youtube.com/watch?v=6dJ8r6zkJBQ


That'd ridiculous. Dumb woman. 1st thing I would do is ask if it's stolen. Crazy people!!!


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## FrugalRefiner (Feb 18, 2017)

Getting back to the original question, there is always eBay. It's fraught with potential problems, but people routinely pay over spot. I believe kadriver was doing a pretty tidy business there selling his bars. Of course, you have to account for fees, and any auction can be a gamble.

Dave


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## snoman701 (Feb 19, 2017)

Ebay pulls a good portion of sales through the fees. 

I've been contacted by a couple of members, and I appreciate that.

The term used by the refinery I have used in the past is is accountability I think, not money laundering  

I honestly can't remember the gov't regulations for PM's when paperwork is required. 

If I go buy sterling sheet, I pay spot + % for processing.
If I go buy fine rounds from the coin store, i pay spot + premium
If I sell, the highest I think I've ever been paid was spot, but that was for eagles....anything else, I don't know that I've ever found anyplace that pays higher than 90%.


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## snoman701 (Feb 19, 2017)

Interesting...cash transactions up to $10,000 in a 24 hour period are not reportable. 

I have no clue how to use that to my advantage...but cool.


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## FrugalRefiner (Feb 19, 2017)

snoman701 said:


> Ebay pulls a good portion of sales through the fees.


They do take a good bite, but _sometimes_ the premium you can get through an auction can cover those fees. 



> If I go buy sterling sheet, I pay spot + % for processing.
> If I go buy fine rounds from the coin store, i pay spot + premium
> If I sell, the highest I think I've ever been paid was spot, but that was for eagles....anything else, I don't know that I've ever found anyplace that pays higher than 90%.


And therein lies the secret to being able to sell for over spot. You have to add value, which will add a cost. If you can produce quality sheet, you can get a premium. Same with coins/rounds, ingots, etc.

Unless you've added that value, no one wants to pay a premium because they can buy someone else's silver without paying that premium.

Now if you were to build one of those medieval coin stamping machines, and create a couple of dies with Hoke's image on one side, I might pay a premium. :wink: 

Dave


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## Geo (Feb 19, 2017)

I sell to Elemetal in Franklin Tn. They pay 95% of spot on silver in general and 98% of spot on silver from their refinery. I would tend to think that it's a universal average. You could check on some of the silversmiths websites. They may pay better than refineries.


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## snoman701 (Feb 19, 2017)

Coining would be cool, but I don't know if I've got the patience to do the mold machining! 

Once I get my cnc mill moved I'll see how painful a dime size coin is. Doubt I can find a press that could handle a full size 1 oz round. I have a 100 ton cylinder already.


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## Geo (Feb 19, 2017)

Actually, coins are not molded, they are struck. The images beat into the gold with a hammer or press. If you have a cnc machine, you could maybe cut the dies yourself.


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## snoman701 (Feb 19, 2017)

I wrote mold but meant die. It's within my skill set, but not overly fun sounding. Polishing hardened tool steel to a mirrored sheen doesn't sound very fun!!


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## rickbb (Feb 20, 2017)

Start with a flat mirror smooth blank die first, then hire an engraver to do the actual image.


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