what is a reasonable refining charge?
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When I was refining, I started charging 15%, but quickly came to understand that I wasn't making a dime. I ended up charging 20%.
There were NO other charges, hidden or otherwise, so the customer was treated fairly, at least in my estimation. YMMV.
I would hesitate to make any suggestions now, considering how the world has changed. I was paying only $4/gallon for nitric.
Harold
There were NO other charges, hidden or otherwise, so the customer was treated fairly, at least in my estimation. YMMV.
I would hesitate to make any suggestions now, considering how the world has changed. I was paying only $4/gallon for nitric.
Harold
it really depends on the volume and form of silver your refining. If its mixed jewellery scrap and is easily melted you can set up a silver cell with a plastic tank and a rectifier im sure that the details of the process is freely available on here. I would suggest you use an annode bag/bags so any other precious metals can easily be reclaimed. The only word of warning I would give you is be aware that loads of asian sourced jewllery contains cadmium so check that you have good extraction and you dont break any enviromental laws etc. This really is the cheapest way and you have little to do apart from melting & washing the fine silver flake.
Large refineries have low rates for silver but they also have a minimum charge. I know of more than 1 refiner that charges around .25 per ounce for silver plus 1 or 2 percent but they have a $250 minimum. If you select your rate to stay under the minimum of the bigger guys and decide what quantity you can process quickly and efficiently in your setup, you may be able to carve out a niche. Minimums make sense, it's not reasonable for you to process 10 ounces even at 10% for $16 unless you are paying with metal you have recovered and just swapping it out and processing when the quantities make it economical. Small percentages make sense with the pricey metals but with silver it's tough.
Different times. Different places. Different markets. Different people. Etc. Also, there are some that have very, very low charges - but they steal more.
In 1979, a guy I worked for had 12 big silver cells working around the clock and he charged $.25/ounce to refine silver. When the price of silver went sky high in 1980 (eventually hit $52/ounce) , he charged $7.50/ounce. Everybody did this, including Handy and Harmon, as I understand.
Hi Gsp
Thanks for your reply
What I don't understand is if Kitco pays 10% of spot how can all the refiners continue to do business.
People with gold will go straight to Kitco
Are the small refiners all lyres
Do they say they charge 5% and take 25%
Thanks for your reply
What I don't understand is if Kitco pays 10% of spot how can all the refiners continue to do business.
People with gold will go straight to Kitco
Are the small refiners all lyres
Do they say they charge 5% and take 25%
Frankk12,
If I'm not mistaken, everyone but you is talking about silver, not gold. Different deal.
If I'm not mistaken, everyone but you is talking about silver, not gold. Different deal.
Frankk12,
Cash4gold is probably paying somewhere between 15 and 30% for gold scrap, maybe the lowest prices in the world. Why are they getting the bulk of the business? I don't think your question is all that important. Ignorant people do stupid things. You're trying to simplify something that is complex.
Cash4gold is probably paying somewhere between 15 and 30% for gold scrap, maybe the lowest prices in the world. Why are they getting the bulk of the business? I don't think your question is all that important. Ignorant people do stupid things. You're trying to simplify something that is complex.
I spoke with a guy that buys gold at 2 local flea markets. He talked at length with a buyer at Cash For Gold and was told he would get 11% of spot.
He is currently using a refiner in Missouri and wants me to do his refining. I told him I'm not at the level where I would feel confident enough in my results to refine for him yet. I hope to have gained enough knowledge and experience by the end of Summer 2010 to work some kind of deal with him. I was thinking 15-20%, knowing that he is paying 50% of spot. I have no idea what he's paying in fees to his refiner in Missouri.
Any thoughts?
He is currently using a refiner in Missouri and wants me to do his refining. I told him I'm not at the level where I would feel confident enough in my results to refine for him yet. I hope to have gained enough knowledge and experience by the end of Summer 2010 to work some kind of deal with him. I was thinking 15-20%, knowing that he is paying 50% of spot. I have no idea what he's paying in fees to his refiner in Missouri.
Any thoughts?
glorycloud
Well-known member
If you have not already done so, download a copy of Hoke's book and STUDY it!
Then ask some questions about what you are wanting to do. That is a good
place to get the basics of what you need to understand about refining.
Invest some of your money and buy some of laversteve's dvd's and also get
some materials from Goldsilverpro as well. What you can learn here is priceless!
Then ask some questions about what you are wanting to do. That is a good
place to get the basics of what you need to understand about refining.
Invest some of your money and buy some of laversteve's dvd's and also get
some materials from Goldsilverpro as well. What you can learn here is priceless!
A
Anonymous
Guest
I recently contacted a company to get a quote to have have my high grade military material processed.I sent pictures of about 200 pounds of material,they estimated the value between $10-$65 per pound.The end result would be them charging me almost $2000 to process the 200 pounds.Here is what they sent.Out of respect to the company I won't release their name.Should I bother asking what you guys think :roll:
QUOTATION FOR PROCESSING CIRCUIT BOARDS (eScrap, CPUs, Circuit Boards, etc)
Accountability: Au 96.00% (0.50 oz Min. Deduction) :shock:
Ag 90.00%
PD 85.00% (0.75 oz Min. Deduction) :shock:
Labor & Processing: $1.85 Per lb received
Minimum: $200.00 Per lot
Assay Charge: Au/Ag/PD $125.00
Fine Troy Ounce Fee: Au $10.00 per T.O. contained
Ag $1.00 per T.O. contained
PD $20.00 per T.O. contained
Wire Transfer of Funds: $25.00
Settlement Time: Approximately 4-5 weeks after receipt
of goods.
Final Payment is returned as check or gold.
**This quote is valid for 180 days from date listed.
October 29, 2010
QUOTATION FOR PROCESSING CIRCUIT BOARDS (eScrap, CPUs, Circuit Boards, etc)
Accountability: Au 96.00% (0.50 oz Min. Deduction) :shock:
Ag 90.00%
PD 85.00% (0.75 oz Min. Deduction) :shock:
Labor & Processing: $1.85 Per lb received
Minimum: $200.00 Per lot
Assay Charge: Au/Ag/PD $125.00
Fine Troy Ounce Fee: Au $10.00 per T.O. contained
Ag $1.00 per T.O. contained
PD $20.00 per T.O. contained
Wire Transfer of Funds: $25.00
Settlement Time: Approximately 4-5 weeks after receipt
of goods.
Final Payment is returned as check or gold.
**This quote is valid for 180 days from date listed.
October 29, 2010
mic,
I'm kind of interested in the material. PM me.
Lou
I'm kind of interested in the material. PM me.
Lou
