Stacking “Junk” and “scrap”

[ilovesilverireallydo]

Over the last few years I had steadily been stacking junk and scrap silver and gold. Basically broken or damaged jewellery that I could get close to spot. 
 

Yesterday I turned in several kilos of sterling jewellery in exchange for sovs (Gold Silver ratio hitting my target set) (got spot on silver paid 1% on gold)

Couldnt be happier with the results. 

Anyone else use this method?

[StackerNoob]

What ratio did you manage to hit in the deal?

For me, scrap/junk silver relies purely on spot price and so I don't touch it. Pretty much everything I own has that slight premium over spot, even the most basic minted bullion at least has the year of issue, which often grows its premium as time goes on. I like my stuff to have that tiny collectible element to give myself a buffer over spot. which should make profit easier to come by.

 

Of course it depends how much you paid for your scrap, and knowing you, I bet you got cracking deals which meant that it was way easier for you to swap for gold?

[ilovesilverireallydo]

1 hour ago, StackerNoob said:

What ratio did you manage to hit in the deal?

For me, scrap/junk silver relies purely on spot price and so I don't touch it. Pretty much everything I own has that slight premium over spot, even the most basic minted bullion at least has the year of issue, which often grows its premium as time goes on. I like my stuff to have that tiny collectible element to give myself a buffer over spot. which should make profit easier to come by.

 

Of course it depends how much you paid for your scrap, and knowing you, I bet you got cracking deals which meant that it was way easier for you to swap for gold?

Literally bought at spot and traded for gold with 1% on top. 
 

[Happypanda88]

I don't tend to buy scrap or junk unless there are dirt cheap.

I tend pick up those unloved commemorative coin sets that are usually in .925 Ag. For example, the Montreal Olympics silver coins and anything to do with the royals.

Not so long ago, I could get them at spot or below. I have accumulated quite a few ounces over this period. My thought at the time was to collect silver as cheaply as possible and when the price rises, then I could exchange them for something else or sell them on.

It might be time to release them soon.  

What I like to know is where can you exchange sterling silver for the yellow metal ? 

[ilovesilverireallydo]

19 minutes ago, Happypanda88 said:

I don't tend to buy scrap or junk unless there are dirt cheap.

I tend pick up those unloved commemorative coin sets that are usually in .925 Ag. For example, the Montreal Olympics silver coins and anything to do with the royals.

Not so long ago, I could get them at spot or below. I have accumulated quite a few ounces over this period. My thought at the time was to collect silver as cheaply as possible and when the price rises, then I could exchange them for something else or sell them on.

It might be time to release them soon.  

What I like to know is where can you exchange sterling silver for the yellow metal ? 

My normal contacts, I can get you 97% for those medals though. 

[kojak]

I have .500 and 925 'junk' silver coins I'll likely be wanting to part ways with in the near future.

If you know of people who would give me a decent price it would be appreciated! 

[HGr]

I used to hunt for sterling trays and spoons and stuff on ebay, for spot price or less. I got annoyed with how much space just one kilo was taking up, and how little it had gone up in price, so sold it in Feb

I did buy a sov and a half shield with the proceeds, so I don't feel too bad. 

Also the scrap sterling stuff didn't bring me much joy when I opened the parcel!  But I still love getting coins near spot (who doesn't?). If prices keep on the way they are I will start buying junk coins in bulk. 

 

[Gibson96]

3 hours ago, kojak said:

I have .500 and 925 'junk' silver coins I'll likely be wanting to part ways with in the near future.

If you know of people who would give me a decent pride it would be appreciated! 

Depending on how much etc., I'd be interested

[ilovesilverireallydo]

3 hours ago, kojak said:

I have .500 and 925 'junk' silver coins I'll likely be wanting to part ways with in the near future.

If you know of people who would give me a decent price it would be appreciated! 

Aye hit me up when ready

[OriginalS]

I've got 400 grams of pre 1947 on the sales thread, locked the price at £21/Oz for today