Get your own scrap minted?

[Jkenned]

I’m sorry if this is in the wrong place or worded poorly, over the past couple of years I have been melting metals and casting them and thought it would be cool to make a bar of silver. Assuming I have the scrap, is it possible to just make a bar and sell it as such in the future or is there a process to go through?

[stefffana]

If your sterling silver scrap is fully hallmarked, keep it in this condition, it is very easy to sell at spot or a little under spot. If you want to make a bar, you can not sell it without a hallmark. Even a refiner will be very reluctant to buy a homemade bar and they can test it. But any private buyer will stay away for sure. 

If you can send your product to an assay office, it is ok, but the final price will be higher and your bar can be sold only around spot price, because the hallmark will be for sterling silver, not for pure silver.

[sixgun]

There are a number of members who pour silver. i suggest you take a look at Backyard Bullions youtube channel and go to the very early videos where he is pouring and is developing his skills.

https://www.youtube.com/c/BackyardBullion/videos?view=0&sort=da&flow=grid

There is legislation on selling silver in Ireland. https://www.assay.ie/hallmarking/legislation/
In the UK selling bullion - like a plain bar, does not need a hallmark. However buyers must trust that the bar is silver of the claimed purity. 
As mentioned if you have hallmarked Sterling - keep it in the condition you have it. Even if it is as tatty as hell, if it has a hallmark a buyer knows what they are buying.
i have seen members put up let's say very amateur bars in the selling section and they do not do well. This is ultimately b/c buyers don't really know what they are dealing with. 

Most of the pourers here get their product hallmarked - generally Edinburgh or Birmingham. This adds to costs but a buyer knows exactly what they are buying. 
You can pour bars - you can sell them - i would watch BYB's videos and those of others in the silver pouring community on youtube. 

Edited June 2, 2021 by sixgun

[Chrissyblards1]

On 02/06/2021 at 14:17, Jkenned said:

I’m sorry if this is in the wrong place or worded poorly, over the past couple of years I have been melting metals and casting them and thought it would be cool to make a bar of silver. Assuming I have the scrap, is it possible to just make a bar and sell it as such in the future or is there a process to go through?

If you’re willing to make it legit, people will pay more for it. 👍

[LawrenceChard]

On 02/06/2021 at 14:17, Jkenned said:

I’m sorry if this is in the wrong place or worded poorly, over the past couple of years I have been melting metals and casting them and thought it would be cool to make a bar of silver. Assuming I have the scrap, is it possible to just make a bar and sell it as such in the future or is there a process to go through?

Pouring it into a cast bar is not the same as having it minted, which of course is a different process.

While I am being customarily pedantic, it did use to be possible to take gold or silver bullion to the mint, and have it "minted", turned into coin for you. There was a small fee.

This was all a long time ago, even before my time, so don't expect the Royal Mint to provide the service for you. If they read this, they may think of adding it as a "new" service, but I am sure any fee will not be small.

You have not menioned the purity of your silver, but some TSF members have assumed it is sterling silver scrap. 

You may find that if you melt it, your bars will not be .925 for a number of reasons. Hallmerked items can be contaminated with stuff like solder, or worse still cadmium. You probably don't want to inhale any cadmium fumes, as they are known to be carcinogenic. (Melt in your BackYard?). Also there are fake hallmarks, and genuine hallmarks illegally applied to sub-standard items. Most silver and gold we have ever scrapped is defiicient by about 1%.

Are you capable of assaying your bars?

Refining them?

If they are purely for your own amusement, there is no problem.

 

[Chrissyblards1]

I’ll give Monsieur Chard his due. He’d know more than me. 😂👍