Hello all,
For some time now I have been collecting all kinds of silver objects. You should think of sugar spoons, forks, sugar tongs and so on.
I have always bought this with the thought that eventually I would like to have this melted down.
At the moment I have about 500 grams of scrap silver (0.800/0.835), 700 grams of sugar spoons (etc.) (0.800/0.835) and 500 grams of silver spoons (0.925).
Now I want to make the most of it, but if I sell it as silver at the purchase price I only get a fraction of what it's value is.
Case 1:
As an example. Weight of spoon: 15 grams (0.800 silver). Net 12 grams of silver. This should yield €8.28, but I get the purchase price of about 40 cents. So €4.80.
My preference is to exchange silver for a bar of fine silver. So suppose I have 1500 grams of silver items. For the sake of convenience, I will count with 0.800 silver, so 1200 grams. In theory, you should then just be able to exchange this for 999 silver bars, right? The revenue model is then in the cost of making the bar (purification and casting). The silver in my items is purified no different than the silver in the ingots.
Is there a market for this? And what will the manufacturing costs be?
Case 2:
Another possibility is to raise 1500 grams of "scrap silver" and just melt it down. Suppose I want to melt down those 1500 grams of scrap silver (0.800 for convenience) to 999 by adding pure silver. Is it then correct that I need to add 300 grams of pure silver to finally arrive at 1498.50 grams of silver? In that case, I think this is the cheapest way? Just depends what the making cost is if I go for case 1. Of with other words: what is the calculation to add silver to get 999 silver from 1500 grams 0.800 silver?
If I melt everything, the 500 grams of 0.925 cutlery I have ultimately ensures that I end up having to add less fine silver of course.
https://postimg.cc/5HtHVbNn