kurtak
Well-known member
One more thing I would like to ask --- why are you wanting to refine your sterling ?
I ask because unless you have a market already established wherein you can sell your refined silver for a premium above spot you are likely not going to make any more money by refining it as opposed to selling the sterling directly to a refinery
In other words - most refineries are going to pay you the same price (for the silver in your sterling) as they will pay you for your refined silver
Example; - the refinery I send my silver to - they pay me 93% of spot as long as I send them a minimum of 500 ozt silver whether it is 999 (plus) or sterling
to clarify - with the sterling - to get the 93% spot price - the sterling has to have (minimum) 500 ozt silver in it - so I have to send them (about) 550 ozt of sterling in order to have 500 ozt actual silver
On the other hand - if I refine it to 999 (plus) I still only get 93% spot as long as it's the (minimum) 500 ozt of silver
So - for the most part I simply send my sterling directly to the refinery
Most of the silver I actually refined was lower grade silver such as contact points (due to cadmium which some refineries deduct for) silver solder/braze, low grade foreign coins, silver sulfide recovered from picture fixer solutions, or silver recovered from doing gold filled, etc.
Also - I did have a few buyers that would buy my refined silver for a premium above spot but those markets (buyers) were limited in buying (a few kilos) at a time so it was worth having some refined silver on hand for when they wanted to buy
other then that most of my sterling I sold directly to the refinery as I got paid the same (on the silver) whether it was sterling or 999 plus refined
Kurt
I ask because unless you have a market already established wherein you can sell your refined silver for a premium above spot you are likely not going to make any more money by refining it as opposed to selling the sterling directly to a refinery
In other words - most refineries are going to pay you the same price (for the silver in your sterling) as they will pay you for your refined silver
Example; - the refinery I send my silver to - they pay me 93% of spot as long as I send them a minimum of 500 ozt silver whether it is 999 (plus) or sterling
to clarify - with the sterling - to get the 93% spot price - the sterling has to have (minimum) 500 ozt silver in it - so I have to send them (about) 550 ozt of sterling in order to have 500 ozt actual silver
On the other hand - if I refine it to 999 (plus) I still only get 93% spot as long as it's the (minimum) 500 ozt of silver
So - for the most part I simply send my sterling directly to the refinery
Most of the silver I actually refined was lower grade silver such as contact points (due to cadmium which some refineries deduct for) silver solder/braze, low grade foreign coins, silver sulfide recovered from picture fixer solutions, or silver recovered from doing gold filled, etc.
Also - I did have a few buyers that would buy my refined silver for a premium above spot but those markets (buyers) were limited in buying (a few kilos) at a time so it was worth having some refined silver on hand for when they wanted to buy
other then that most of my sterling I sold directly to the refinery as I got paid the same (on the silver) whether it was sterling or 999 plus refined
Kurt