question about selling scrap sterling

DennisH

Thanks in advance for any answers, thoughts or suggestions.

Scrap sterling (.925) is more pure than silver coins are. Does that mean it is also in high demand by refiners? Silvertown for instance? If so, then approximately what per-ounce price should I expect? (I'm in Southern California)

KISHU1

For some reason my wholesaler pays less for sterling than 90% Do you have bars or flatware?

Frank

mkman123

exact opposite.

Sterling silver is like the ugly step child of silver. You can buy it for melt or below melt AND when you sell, you get a lot less.

The local B&M refuses to buy some sterling silver items. They don't refuse any 90% or pure silver bullion

Weiss

I've never heard of it being more in demand by smelters. I have seen it discounted more percentage wise than 90%, simply because there just isn't a secondary market for sterling the way there is for 90%.

Kind of flogging a dead horse here, but Midwest Refineries seems to be fair to deal with when selling less marketable stuff that might not do as well on eBay or our own BST threads or forums.

jimq112

Midwest advertises that they pay 90% of the pure silver for sterling flatware and jewelry, so I guess it would be 90% of 92.5%, or 83.5% of the weight of the sterling. They also say they no longer take weighted sterling silver, they explain that on the site linked above.

To answer your question - you would get $14.06/oz if spot was $16.90 like I think it is right now.

DennisH

Many thanks for the replies folks! This is exactly what I was looking for

I think I have access to some cheap (but hideous) sterling flatware, and Midwest looks like it will be the destination if the deal happens.

wayneme

what is a 18 k gold chain worth 28.3 g

1jester

<< <i>what is a 18 k gold chain worth 28.3 g >>



Sterling gold?

wayneme

give me a break !!
jester
ok if that make you happy sterling duh!!!!

wayneme

Jester i see under your logo you seem to think alot about god
i just have to wonder why? you don't practice it very well
i guess you know that better then anyone else just my guess !!
spelling ok !!!

1jester

<< <i>Jester i see under your logo you seem to think alot about god
i just have to wonder why? you don't practice it very well
i guess you know that better then anyone else just my guess !!
spelling ok !!! >>



You're right; I do think about God virtually all the time. I owe everything I have to Him, and thank Him for everything I have.

I am sorry if I offended you but I don't understand why that might be the case.

This thread is about selling scrap sterling silver, so your question of the value of an 18K gold chain seems a bit out of place, and might deserve a thread of its own. What is an 18K gold chain of 28.3 grams worth? To whom? Under what circumstances? You don't go into much detail; not enough in my opinion for somebody to answer it to your satisfaction. If you need help structuring your sentences or questions, I'd be happy to help, since that is one of my areas of expertise.

mkman123

wayneme there are several sites online that have a gold calculator in which you put the karat of the gold, the weight, and the current spot price and it will tell you how much melt its worth. Then you can use that number if you take it to the local stores and see how much they offer you to see the percentage they are offering.

Just google gold jewelry calculator or some other key words. Hope that helps.