For Sale roughly 6 Troy pounds of Sterling for sale

[goldshark]

I am looking to sell roughly 6 pounds Troy, of Sterling flat wear. Looking to get 95% of spot, if possible. Located Colorado. PM me if interested in working a deal. I'm not sure of exact weight, as I only had a bathroom scale to weigh on. Will weigh on more accurate scale when I get back to other location.

 

[kurtak]

I am looking to sell roughly 6 pounds Troy, of Sterling flat wear. Looking to get 95% of spot,

We need better clarification on the deal you are trying to make here

Are you asking 95% spot on the sterling --- or --- 95% spot on the silver content of the sterling

Also - you say flatware - is this a "set" of flatware --- or --- random pieces of flatware - & does it include knives

Pics would be nice

Kurt

 

[goldshark]

90-95% of the 925 content. Contacted a local refiner, said they pay 90% on the 925. So am looking to get as much as possible obviously. It is a set of Silverware, but some pieces have been lost, stolen, mis placed or whatever. The dinner knives are stainless with Silver, possibly only Ag plate. I still haven't found a gram scale, so don't have an accurate weight yet. These are from our estate, not stolen. Butter knives are Sterling. Hope this helps.

 

[paul_bogdanich]

On E-Bay clean sterling scrap sells for about 70 to 75 cents a gram which is at or slightly over the spot price of the 92.5% silver content. Get rid of the steak knives though or it won't be a "clean" batch of scrap.

 

[kurtak]

90-95% of the 925 content. Contacted a local refiner, said they pay 90% on the 925. So am looking to get as much as possible obviously. It is a set of Silverware, but some pieces have been lost, stolen, mis placed or whatever. The dinner knives are stainless with Silver, possibly only Ag plate. I still haven't found a gram scale, so don't have an accurate weight yet. These are from our estate, not stolen. Butter knives are Sterling. Hope this helps.

Thanks for the reply goldshark - I was "somewhat" interested because I make jewelry out of old sterling flatware so paying 95% spot is not out of the question (for me) as I get "way" over spot for the jewelry - BUT - to be worth it (at 95%) the flatware design has to be unique/fancy other wise it's scrap

So I am sorry but what you have is scrap (I was hoping for fancy) as I only get 94% from the refinery I send my scrap to & I have to have 500 ozt to get the 94% --- under 500 ozt it drops off to 90%

Contacted a local refiner, said they pay 90% on the 925.

So if you can get 90% that is likely you best/quicks option

Most "we buy gold/silver" shops only pay 70 - 80% (some as low as 60%) & (IMO) ebay is a B. S. hassle (unless you are a "full time" seller)

The dinner knives are stainless with Silver,

If you are going to sell to the refiner you are going to want to separate the SS blade from the 925 handle which is a "thin" sheet of 925 over a filler in the handle

Depending on the filler in the handle you can separate the handle/blade with a torch (resin) or beat the hell out of it with a hammer (plaster)

Grab the handle with a pliers - hold it blade down - put a torch to it - if it's resin filler the resin will melt the blade will fall out & the resin will run/melt/burn out --- if not it's plaster filler & you will have to beat it with a hammer

Kurt

 

[goldshark]

Thanks all for the replies. I'll get an accurate weight soon, in case anybody is interested.

 

[billgold]

I don't recall much about the Prelude pattern, except that it is a poplar model.

I seen to recall that the dinner knife handles are hollow, not filled with anything. However, as others have stated, the blades will be stainless steel. To get a fairly accurate weight, you should tear one of the knives apart and find out what the blade and any handle filling weigh.

It has been at least a decade since I scrapped any sterling, so my memory may be faulty.

 

[billgold]

Sreetips has a video where he calls his refiner and we the viewer is allowed to hear the conversation. The percentage payout for sterling scrap may be included, I don't remember for sure. The phone number was included.

I don't know if the refiner only buys from licensed gold/silver dealers or also from the general public.

 

[goldshark]

The refinery Gentleman I spoke with, stated the seller (me), needed a business name, and a Federal ID #. Probably to weed out the criminal elements.

 

[kurtak]

The refinery Gentleman I spoke with, stated the seller (me), needed a business name, and a Federal ID #. Probably to weed out the criminal elements.

If you don't have a business/federal ID # in order to sell to the refiner you called you can try David H Fell

That is who I use when I have over 500 ozt (actual silver content) of sterling scrap to sell (which I did just a couple month ago)

Here are their payout rates on sterling scrap

less the 50 ozt (actual silver content) 90% plus $35 assay fee

50 to 99.9 ozt (actual silver content) 91% plus $35 assay fee

100 to 499.9 ozt (actual silver content) 92% no assay fee

500 to 999.9 ozt (actual silver content) 94% no assay fee

1,000 ozt or more (actual silver content) call for quote no assay fee

They normally settle (pay) in 2 - 3 days - day after receiving the scrap

https://dhfco.com/
Call the Rio Rancho New Mexico office (that is the actual refinery) - (505) 994 - 0010

They will send you forms to fill out to send back with your shipment

a form for what you are shipping & method of payment --- a tax form (they do not 1099 you as long as you don't send more then $10,000 scrap but they still need the tax form filled out for their records)

I have used them several times & have been happy with their service

Kurt

 

[goldshark]

Thanks.

 

[Mech]

Did you notice Kurt's weights in his post ozt - the t at the end is for Troy .
If / when you go looking for a more metals related scale , make sure it has the option to measure in Troy .
Or you want to do the conversions .
And as mentioned , break apart the non silver from flat ware to get an accurate measure --- you want to know what you have --- kinda like buying something and count your money before handing it over [ you do not want to give an extra bill - and good for both buyer & seller to count in front of each other ] .

 

[Yggdrasil]

Did you notice Kurt's weights in his post ozt - the t at the end is for Troy .
If / when you go looking for a more metals related scale , make sure it has the option to measure in Troy .
Or you want to do the conversions .
And as mentioned , break apart the non silver from flat ware to get an accurate measure --- you want to know what you have --- kinda like buying something and count your money before handing it over [ you do not want to give an extra bill - and good for both buyer & seller to count in front of each other ] .

Welcome to us.
Some first impression, correcting a well known member
Even though you have been here longer

 

[goldshark]

Thanks for sticking up for me. I have very accurate scales, and do not mind the conversions from grams to any form of mass. I have to do it on a daily basis, keeps the mind sharp.

 

[goldshark]

If you don't have a business/federal ID # in order to sell to the refiner you called you can try David H Fell

That is who I use when I have over 500 ozt (actual silver content) of sterling scrap to sell (which I did just a couple month ago)

Here are their payout rates on sterling scrap

less the 50 ozt (actual silver content) 90% plus $35 assay fee

50 to 99.9 ozt (actual silver content) 91% plus $35 assay fee

100 to 499.9 ozt (actual silver content) 92% no assay fee

500 to 999.9 ozt (actual silver content) 94% no assay fee

1,000 ozt or more (actual silver content) call for quote no assay fee

They normally settle (pay) in 2 - 3 days - day after receiving the scrap

https://dhfco.com/
Call the Rio Rancho New Mexico office (that is the actual refinery) - (505) 994 - 0010

They will send you forms to fill out to send back with your shipment

a form for what you are shipping & method of payment --- a tax form (they do not 1099 you as long as you don't send more then $10,000 scrap but they still need the tax form filled out for their records)

I have used them several times & have been happy with their service

Kurt

I do have a mining related business, and FEIN. Not a problem there. If any body knows a refiner who pays better than 90% on a 50 ozT lot, please give them a shout out here.

 

[snoman701]

Just take the 90 and move on. I get 95 on 500+ oz lots if I ship it, but I still usually sell to my buyer for 92.

When you start to dig for every nickel, it bites back. I could tell you that my buyer pays 92, but you'd pay 2% just shipping it, without insurance.

Find an honest buyer....and at 50 oz, all the market says you deserve is 90%. Let them make money.

 

[MrDRE447]

That appears to be the Prelude pattern by International. I sold about 40 t.oz worth a few years ago and got 1.15 times spot after fees for that stuff on eBay. Popular patterns still command a premium. Condition is everything though. You get the best return on the small odd items serving pieces and dinner knives. Unpopular or plain patterns don't fetch a premium unless the maker is Tiffany or George Jensen.

 

[goldshark]

That appears to be the Prelude pattern by International. I sold about 40 t.oz worth a few years ago and got 1.15 times spot after fees for that stuff on eBay. Popular patterns still command a premium. Condition is everything though. You get the best return on the small odd items serving pieces and dinner knives. Unpopular or plain patterns don't fetch a premium unless the maker is Tiffany or George Jensen.

Thanks MrDRE, just cleaning out parents 60 years of depression era hoarding. Lots of lawyer and land use planner fees to pay, so am looking for a solution that gets me the most for their stuff, still allowing the other guy to make a couple of bucks. The forum has been a big help in finding these solutions, so thanks to all. While I am relatively anonymous to you, I am a very fair person in real life.

 

[billgold]

Yes, eBay will probably get you the most money for the sterling - but you run a significant risk of getting ripped off.

The best bet might be a good coin shop that has fairly high customer traffic. They generally pay decent prices for sterling - only on the scrap value, not the collector value. But there is some room for bargaining and they pay in cash.

Avoid the gold/silver buyers and pawn/hock shops. I think their business model includes ripping you off if they can.

 

[William656]

Yes, eBay will probably get you the most money for the sterling - but you run a significant risk of getting ripped off.

One thing I've learned in my experience is eBay will take around 12%-15% in fees and if you sell over $600, they will report it to the IRS (1099) and you will pay taxes as income.

Reddit also has a group that buys and sells precious metals peer-to-peer. It's just another option in the tool bag for sellers. Pawn shops, jewelry stores, refiners, ebay, FB market place, craigslist, refiners, peer-to-peer…. Lots of options and each one has pros and cons. These are all mostly the US based options, but some may be available internationally or, other countries may have their own versions of these options.

The reddit community is r/pmsforsale. Again, just another option. You should have no problem selling these items for spot price of the actual silver content over there.