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Recommendations Please For Selling Melt Value Silver

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Pillar of the Community
Canada
4002 Posts
 Posted 01/17/2021  09:50 am  Show Profile   Bookmark this reply Add oriole to your friends list Get a Link to this Reply
In Canada at least, many refiners will not buy from the public. Too much risk and bother.
New Member
United States
6 Posts
 Posted 01/17/2021  11:28 am  Show Profile   Bookmark this reply Add WalkingMan to your friends list Get a Link to this Reply
Thanks for the welcome and all the insight! I was thinking along the same lines re costs associated with ebay would offset most of the gain. I just got back an accounting and check from Midwest for test of a couple of rolls of quarters. They had the same weight I did, and paid 90%, all seems good except for, no fault of theirs, the spot price had dropped $3 from the day I shipped to it's arrival. I'm thinking now that with the quantity I have it's probably worth sending overnight so the spot price wouldn't likely move all that far from where it was.

and trdhrdr007, could you share what the issue was you had with Midwest if that's something you're comfortable doing?

And any other trusted refinery suggestions would be great.

Thanks again!
Pillar of the Community
Learn More...
United States
4360 Posts
 Posted 01/17/2021  1:16 pm  Show Profile   Bookmark this reply Add tdziemia to your friends list Get a Link to this Reply

Quote:
Fees on eBay for coins are 6%


I pay 10%. Maybe 6% is for volume sellers who have a store?

IN any event, sounds like the posyer has arrived at a good solution.

Edited by tdziemia
01/17/2021 1:18 pm
Pillar of the Community
United States
2180 Posts
 Posted 01/17/2021  2:42 pm  Show Profile   Bookmark this reply Add trdhrdr007 to your friends list Get a Link to this Reply


Quote:
I pay 10%. Maybe 6% is for volume sellers who have a store?


I've had a store so long I forgot there were fee differences.


Quote:
I just got back an accounting and check from Midwest for test of a couple of rolls of quarters. They had the same weight I did, and paid 90%, all seems good except for, no fault of theirs, the spot price had dropped $3 from the day I shipped to it's arrival. I'm thinking now that with the quantity I have it's probably worth sending overnight so the spot price wouldn't likely move all that far from where it was.

and trdhrdr007, could you share what the issue was you had with Midwest if that's something you're comfortable doing?


When I dealt with them several years ago the price of silver was very volatile. Price movements of 3-5% a day were fairly common. It could be a coincidence but every time I sent a shipment it either arrived or was processed on a down day. I was fairly new to the game & was sending sterling which has to be melted & assayed. There's a certain amount of weight loss during the process. IMO melt losses were slightly high & assays were slightly low.

New Member
United States
6 Posts
 Posted 01/17/2021  8:16 pm  Show Profile   Bookmark this reply Add WalkingMan to your friends list Get a Link to this Reply
Interesting. I did notice that the spot price that was used was the low that it hit for the day . Thanks for the info!
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