# The price of silver



## Geo (Jun 11, 2022)

How much premium over spot does people expect to pay over spot for minted rounds or bars. I'm talking stamped rounds, not blanks, And silver shot. 
I collect and keep my silver chloride. I intend on converting and refining and doing a scrap exchange for bars and rounds. If I know what people are paying over spot, I can figure out what potential profit I may be looking at or whether I may be better off selling my refined silver to the public myself.


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## snoman701 (Jun 11, 2022)

You are better off selling your refined silver to the public if you can reliably ship, inexpensively.


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## war_child (Jun 12, 2022)

The cheapest I can find 1oz silver rounds online right now is apx $4.69 over spot. I should like to think I could find it cheaper at one of my local coin shops. I know stackers have an affinity for & will pay well over spot for hand poured silver pieces. If you have the capabilities, I think poured pieces, even something simple like a cross, would return good profit. Maby get a couple of those skull molds. They seem to be pretty commonly sold pieces.


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## Swissgoldrefiner (Jun 12, 2022)

I can have swiss bullion of silver. Usually we pay it spot + 60 usd. If we export, there is no tax.


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## kurtak (Jun 12, 2022)

war_child said:


> The cheapest I can find 1oz silver rounds online right now is apx $4.69 over spot


Right now you can buy rounds from Golden State Mint for as low as $26.00 (if you buy 1,500 or more rounds/ozt.)



https://www.goldenstatemint.com/1-oz-morgan-silver-bullion-round-999-fine.html



current silver spot is $21.93 --- so that is $4.07 over spot


Geo said:


> If I know what people are paying over spot, I can figure out what potential profit I may be looking at or whether I may be better off selling my refined silver to the public myself.


When I was living/refining in Wisconsin I had three (public) buyers for my silver (hand poured bars) which I sold for spot plus $2.00 per ozt.

I was pouring 1 ozt - 10 ozt & kilo bars

Two of the buyers were scrap yards I did business with - the other buyer was a Hmong silver smith that made traditional Hmong ceremonial jewelry (which is made with 999 silver not 925)

The two scrap yards also bought my gold which I got spot plus $20.00 for 

That was a price - set by them (what they were *willing* to pay)

Since I moved here to Oregon & no longer refine for a living (but still run a few "hobby" batches from time to time) so I no longer sell my metal but hold & buy metal

However - recently I called around to some of the local - "we buy gold/silver" - shops to see if any of them had an XRF (to have my "hobby" refined metals tested/shot) 

One of them does have an XRF (& in fact is a dealer/seller of XRFs) & he will buy my hard poured silver (that tests at 999) for $1.00 over spot --- all the other "we buy gold/silver" shops pay under spot

I did take some of my recent (hobby) refined gold in to have it shot with his XRF & as well took in *one* of my 10 ozt silver bars which I did sell to him for spot plus $1.00/ozt 

At the same time - I am able to sell the LARGE silver crystals (2 grams & larger) that I get out of my silver cell for anywhere from *5 - 10 times spot *

I guess the point I am trying to make here is - marketing - whether on the buy or sell end 

On the selling end - it's a matter of finding the buyer willing to pay the price you are asking

There are always buyers (collectors/stackers) out there willing to pay over spot - it's a matter of finding them

When you do find them - the question of how much over spot you can get - is answered by how much over spot they are willing to pay

In other words - you can ask any price over spot you want to - the question is - can you find a buyer - willing to pay that --- or not ???

Kurt


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## Alondro (Jun 12, 2022)

kurtak said:


> Right now you can buy rounds from Golden State Mint for as low as $26.00 (if you buy 1,500 or more rounds/ozt.)
> 
> 
> 
> ...


XRFs are just so expensive. Still between $17-20k. I haven't yet been able to find anyone who has one around me.


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