Best Approach To Cement Relationships With Refiners?

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Author	Replies: 4 / Views: 848
MikeF Pillar of the Community United States 3479 Posts	Posted 01/30/2017 10:51 pm So as I peel back the layers of my local coin ecosystem, I've discovered that the journey of most circulated silver coins seem to end at the refinery. This comes after weeks of talking with local jewelers, coin shops, pawn shops, and a few undesirables via craigslist. Have any of you ever reached out to local refiner as a coin buyer? Do any of you have relationships with these businesses? Report this Post to the Staff

GR58 Bedrock of the Community United States 11951 Posts	Posted 01/31/2017 08:03 am I work for two local coin shops and have good relationships with a few more. None of the shops I know send common 90% U.S. circulated coins to the melters. They will send very damaged coins. They do take in a lot of foreign silver and gold coins. Most of what I see taken in for melting is jewelry and flatware. The biggest refiner in the area is part of a nationwide company. A dealer license is required to do business with them. On most of the bullion taken in, the items are melted and tested before the check is issued. Report this Post to the Staff
oriole Pillar of the Community Canada 5246 Posts	Posted 01/31/2017 08:05 am Kitco in Canada takes coin, but they buy by actual weight, not face value. I do not know how their prices compare to the LCS. I believe that if you have a big enough amount there is a different price structure based on refining costs, but I have no information on that. Report this Post to the Staff
silverwolf Pillar of the Community Canada 3733 Posts	Posted 01/31/2017 08:06 am very little chance of cherry picking from a refinery. your best bet is to ask at pawn stores or coin shops to search there melt bucket..like gr58 said it is mostly foreign coins, silverware, and usually olympic coins..best of luck Report this Post to the Staff
Mister Kairu Pillar of the Community United States 1911 Posts	Posted 01/31/2017 08:39 am I have not ever thought of going to a refiner since my LCS has a "junk" silver bucket of 90% US and foreign stuff. Once it gets pretty full (about once every month-month and a half) they send it off after making sure I have looked through it :) Report this Post to the Staff
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