Silver spoons (0,800) melt down or trade for Silver bar (999)

[DutchSilverFinder]

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

Edited March 24, 2023 by DutchSilverFinder

[Happypanda88]

Without sounding too complicated, I think you could simply sell any nice, useable silver cutlery and use the proceeds to purchase .999 fine silver.

[Bigmarc]

What is this? 

I watch that street tips guy on YouTube sometimes. He always states that their is no financial benefit of purifying his metals and does it for fun. So if it's an educational quest you are looking for then do it, if it's financial then just try and get spot for it and buy your bar. 

 

[MintageSeller]

Honestly, unless you want it for the sake of doing it. I would resell it, or auction it and buy what you want. 

[MintageSeller]

@stefffana Is a bit of a pro, when it comes to these kind of things. Maybe he can lend some advise. 

[stefffana]

Hi, @DutchSilverFinder.

The real market value for these spoons is exactly how much the customers will be happy to pay for them. You have been lucky to accumulate them at a very good price, probably from people who didn't knew exactly what they are selling.

These odd spoons, not being complete sets, are selling usually on the private market @spot value or at dealers @10%-15% under spot.

My advice is to sell them on forum, Ebay or Marketplace at spot in bulk. Try to clean them a little, make some nice pictures showing hallmarks and weights, describe them accurately and will sell easy at spot. With the money raised, you can buy some good coins/bar .999 silver.

 

Melting them is not a good option. You will obtain a bar with an uncertain finesse, impossible to sell. Refining silver is not a DIY/hobby activity. It is dangerous, involving acids and very corrosive chemicals and it is illegal to do it without proper training and authorizations.

 

All the best!

Stefan.

 

 

[DutchSilverFinder]

Ok thanks guys. I'm going to sell it.

@Bigmarc It's an old animal trap. It was used to catch small animals like rabbits. How it exactly works.. i don't know.

[Mobius]

3 hours ago, DutchSilverFinder said:

It's an old animal trap. It was used to catch small animals like rabbits. How it exactly works.. i don't know.

It's actually for holding a leg of meat for carving, you put the bone in the end and move the ring up to hold it firm.

 

 

[stefffana]

21 minutes ago, Mobius said:

It's actually for holding a leg of meat for carving, you put the bone in the end and move the ring up to hold it firm.

 

 

Yes, it is the best possible explanation. I have tried from morning to find a use for that object. You are right, @Mobius, for an animal trap nobody will use silver.😊

Definitely it is an object used for eating.

Thank you, mate!

from now I can sleep tonight!😘

[Von]

Hello, i use this thread because i have a similar question, for who is in silver melting etc.

I have really a lot of silver from family that I don’t want clean nor use so…

 

If i decide to made a brick from old spoons and silverware, what is the average and honest “lose of weight “ after the fusion?

 

And about purity, im thinking if is better to refine 0.800 silver to have a pure kg, or keep the 0.800 purity and made a 1250gr brick to have a pure kg inside (hope my English make ut understandable)

 

thanks