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If I am buying sterling silver for .35 to .40 cents a gram am I overpaying?
USASoccer
Posts: 445 ✭✭✭
I have been getting some at local sales at this price am I OK or am I overpaying. Thank you for your honest answers.
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USASoccer
Posts: 445 ✭✭✭
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It depends on what it is . Are we talking silverware ..... sterling junk coin...... or jewelry ? For coin maybe silve ware , intact jewelry its probably okay although I think jewelry reselling is difficult because buyers are fickle . I think that's too much for damaged stuff like broken chain or bent rings garbage like that.
I used to buy rings at melt and my girlfriend at the time would sell it on her ebay account and it was more trouble than it was worth. You would have a ring that had a melt value of 3$ and a buyer would win it for 5$ and then want to exchange 20 emails with you about it. The less they paid for it the more they complained too.
Then some idiot would bid a 3$ ring up to $50 and not complain at all , and the whole time you would be wondering if whatever drugs they were on when they bid would wear off and they would angrily demand a refund.
I will say that if you have a store or a booth at an antique mall you can do okay with rings and what not.
<< <i>I have been getting some at local sales at this price am I OK or am I overpaying. Thank you for your honest answers. >>
That works out to roughly $12 to $14 a ounce which is okay at the low end but too high when approaching $14 IMO. $0.35/g for sterling that is properly hallmarked and in good condition is acceptable but in no way is a great deal for the buyer.
I've paid as much as $2,000 an oz for sterling.
(No, not any of those Engelhards)
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