Trade Mint Fresh 999 1 oz rounds for your scrap silver

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scrapman1077

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Nov 4, 2007
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236
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north Alabama
Due to the extreme nature of the metals market, the numbers below are for reference only. Trades will be based on the assay and replacement cost of the rounds/bars.

Fresh mint 1 oz rounds from Golden State Mint. Will trade your 47 grams ASW for each round. The scrap can be almost any form, sterling, junk/damaged 90%, 40%, 35% or foreign coins.
Before you ask, refining costs 10% of the ASW, I supply the silver to the mint and pay the minting fee for each round.
GSM5rounds2.JPG



Folks have been asking questions, so I will list the trade numbers- for each round
47 grams of .999 silver ( butt ugly rounds,bars,casino cores or damaged coins/bars )
50.8 grams of sterling (.925)
52.5 grams of 90% silver coins ( US or others)
58.8 grams of 80% silver coins ( Canadian and others)
65.3 grams of 72% silver coins ( Mexican and others)
94.5 grams of 50% silver coins ( Canadian and others)
117.6 grams of 40% silver coins ( US and others)
134.5 grams of 35% silver coins ( US and others)


Divide 47 ( ASW for each round ) by the purity. This will give you the weight you will send for each round.

Up to a 19 round trade, you pay for the shipping to get your rounds. 20 or more I pay the shipping for your rounds.

I now have GSM 5oz and 10 oz bars available for trades.

I have had a few asking about silver crystals from your cells and cement silver. I talked with the owner of Golden State Mint, he will NOT accept silver crystals as is, I will still have to send them out for assay. The refinery will take them in crystal form, so there is no need to melt them. The cement silver can be melted or not as they are going melt for an assay.

I will not accept Hazardous material, If the refinery rejects your material, it will be returned at your expense.

To all my trading partners, please put your name, address, phone number, e-mail, name of the forum, and you forum name in the packages. By shipping to me you certify that the material is legally yous to sell/trade. This will help me a whole bunch. Thanks !

PMs has been a bother, e-mail- [email protected]
 

scrapman1077

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Nov 4, 2007
Messages
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north Alabama
Thanks Scott, I would have supplies Golden State Mints link if anyone had asked, not hiding anything and NO I do work for them.
 

NobleMetalWorks

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Feb 29, 2012
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East Bay Area, California
scrapman1077 said:
Thanks Scott, I would have supplies Golden State Mints link if anyone had asked, not hiding anything and NO I do work for them.

I'm apologize, I wasn't questioning your honestly or integrity. I only posted it because I think it very interesting. In no way did I think this was some sort of scam, after all you provided the information in your post, the company name, it's not like you were hiding anything at all.

Scott
 

Lou

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He is no scam...done business with him--very reasonable, professional gentleman.
 

fasTTcar

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Apr 5, 2009
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Ontario
Done business with him and he delivers as claimed.

Have another lot coming his way shortly.
 

element47.5

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May 10, 2012
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295
This is only a typical, not an incredible deal. I have sent sterling to that "refiner" whose name starts with an "M" for cash settlement. This is for solid stamped name brand sterling flatware, forks and spoons and butters only, no hollow handle BS anything. Consider the following settlement statement.

MILWAUKEE046.jpg


In terms of delivered sterling, I sent them 112.5 tr oz gross weight. That melted into 97.43 tr oz of 999 silver, after an utterly ridiculous 3.8% "pot loss" and after a highly questionable assay percentage. (Yes, I was lucky or maybe even smart to have caught a $39+ market price) The $3459.50 cash money I received, I could have bought 85.5 generic rounds with the assumption that those rounds cost a buck over spot. (3459.5 / 40.45)

Under this deal, I would have sent them 112.5 tr oz gross weight = 3498.75 gross grams sterling. (112.5 * 31.1)
Divided by 41.4 = 84.5 rounds.

The advantage of this particular setup is that 1: you do not bear the risk of being settled on the worst day on the week or so that your goods are being "processed". Which WILL happen with the aforementioned refiner. And 2: you get your rounds quicker. But symmetrically, the provider of the sterling wishing to convert to generic .999 silver loses the ability to catch a market dip with a cash buy and presumably will have to pay incoming shipping from another vendor. Insured shipping, by the way, is not cheap. It probably cost me about $25 to ship the above load of sterling to "M".

Near-complete amateur that I am, there is one thing I have learned in this business: Every time you touch this stuff, there are what I call "frictions", and they are darn near unavoidable. I will go so far as to say they are completely unavoidable. Let me be clear, I do not begrudge anyone who provides a valid service their profit margin and I do not expect anyone who buys and handles nitric and fires up furnaces and performs assays to do so for free.
 

element47.5

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May 10, 2012
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The GS Mint offer is far more attractive, IMO, for 80% Canadian coins and 35% 1942-1945 US "War" nickels which are much harder to get rid of. I have 7 rolls of those dudes and maybe 3 rolls of Cana quarters.
 

scrapman1077

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Nov 4, 2007
Messages
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north Alabama
element47.5, I am offering a service to folks who can't ship to a refinery, the knives I traded for assayed at 90.01%, this is the risk I take, jewelry is worse. I don't hide where I get my rounds, I trade for scrap of all sorts, ship that out to a refinery, get pure silver back, ship this to Golden State, pay the shipping to the refinery, shipping to Golden State and the minting fee per round and shipping to my customers. My profit from all this $1-$1.25 per round.
scrapman1077
 

element47.5

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No criticism intended. Honestly, I wish bullion trading was a lot more profitable than it actually is; even though this would probably affect me negatively with much larger spreads. On a percentage basis, a buck a round is quite frankly a miserable (3.7%) profit margin on a $27 corpus that very, very few businesses outside of massive giants like WalMart could survive on. So, I don't think it is excessive. I just wanted to compare deals. I'm thinking strongly of selling about 15 lbs (6800 gms = 218 tr oz) of sterling forks very soon here and candidly, I'd rather it go to a forum member than "M", so you may well hear from me.
 

MMFJ

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Jul 13, 2011
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627
Location
Quito, Ecuador
Interested, just making sure my math is right..... (and, not knowing much about silverware, could use some assistance in just what we are talking about here!)

I've got 10 Spoons marked WMF 90-45 that weigh 65.5g each and 10 forks (same mark) that weigh 56.4g each.
from http://www.925-1000.com/a_platenumbers.html, I find that the marking means that each spoon (and/or fork) should have roughly 1/12 of 45g each (i.e., 3.75g) for a total of 20 x 3.75g = 75g, or (by my math), just shy of two rounds via this deal.
my 75g 'pure' (I know no other way to calculate it) / (38.25/.999 = 38.2883 'dirty' needed per round) = 1.9588235294117647058823529411765 rounds

Correct (both in the math as well as the initial assumption)?

I've also got some junk silver coins, etc. I'm considering, just wanted to get the understanding on the silverware (in case I can get it away from my wife and actually trade it! ;)
 

scrapman1077

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Joined
Nov 4, 2007
Messages
236
Location
north Alabama
The spoons and forks you have are plated, not an alloy, and I am sure that some of the plating is worn off. I do not take plated in trade for rounds, as has been a topic of discussion here many time, no economic way of recovering the plating, sorry. Let the wife keep it, if you are using them, eating off silver is a healthy thing to do anyway. I am ready to deal with " junk silver coins, etc."

Thanks for asking
Jay
 

element47.5

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May 10, 2012
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295
Jay and I just completed our first trade, coins & junk flatware for rounds, and it went perfectly. Couldn't be happier. Very fast turnaround, the rounds are nice and crisp, very high quality. Very satisfied and we'll do more. Thanks again, Jay!
 

its-all-a-lie

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Dec 29, 2011
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355
Location
Gadsden, Alabama
I will be meeting him in the morning with close to 35 ounces of refined silver to trade, kind of anxious to hear how close to 3N's it actually is.
 

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