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Midwest Refineries: two strikes and they're out... - Better alternatives available?
PreTurb
Posts: 1,184 ✭✭✭
I've had two transactions with Midwest Refineries, and both yielded me at least 10% less than what was reasonably (and mathematically) expected. Are there any other firms for the disposal of scrap sterling silver that you find to be honest and reputable? Thank you.
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70 - 75% is the going rate for small amounts of sterling scrap ... let us know if you find a better deal.
Did you have their estimate ahead of time?? Usually that is provided... and one can expect variances in the quality of the scrap.... Just making some points... Midwest has had good reports in the past. Cheers, RickO
What did the lot consist of? Jewelry? If so its never going to be an actual 925 lot, some have come out as low as .72 with all the mixed junk that gets sent in with good sterling. MOST are right around 88-91% for clean lots. You can give me a try for your scrap melting services if you want. PM me some details of what you've been sending, I might be able to give some insight on silver scrapping.
@Jinx86 knows how to melt metals
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb
Bad transactions with : nobody to date
Me too. But how about purifying it ? That where chemistry comes in.
I still use Elemetal (formerly NTR) , as my refiner, but few pay more than 75% , so don't expect much for silver.
PM me for quotes.
My guy pays me 78% on jewelry and 82% on flatware/coin medal
that's weight x price x percentage above
Not weight x .925 x percentage
Legally sterling can be as low as 80% if no Royal approval stamp.
bob