Dealers: How do you determine the price of scrap sterling?

OffMetal

I have about 2+ lbs. of scrap sterling that you could just throw into a furnace and melt it into a block. (No weighted crap) and I was just thinking of selling it to the local store.

How does one determine the price of sterling silver?

Any help will be appreciated!!

Thanks,
-Ben

PerryHall

Weight in ounces X 0.925 X Spot = $$$$$

michael

weight in grams divided by 31.1 times .925 times spot price of silver

as many places do not have troy ounce scales

so for example

you got 650 grams of silver 650/31.1 = X

x is now the troy ounces you got multiply by .925 and then multiply by spot price of silver whicxh is in troy ounces per ounce and you got melt value my silver sweet

Smittys

If you melt it noone will buy it,
Most dealers only buy marked sterling
Expect about 80% of silver content

cladking

<< <i>If you melt it noone will buy it,
Most dealers only buy marked sterling
Expect about 80% of silver content >>



This looks about right except you might be able to get a little more if you shop it around. If
you have a substantial quantity you should be able to get a lot more even if you have to ship
it to the refiner.

ebaytrader

<< <i>If you melt it noone will buy it,
Most dealers only buy marked sterling
Expect about 80% of silver content >>




Expect about 80% of spot.

topstuf

Iwog buys it.

OffMetal

Thanks for the info!

The local store was offering $5.50/oz for the scrap silver

The moment I figured out that they were offering $5.50/oz. I thanked them for their time and told them I would think about it. The I left the store.