Looking for advice on selling or trading my sterling silver...

[The Urban Prospector]

So I have come into a good bunch of sterling silver in the form of flatware such as spoons, forks, etc. As well as bowls, cups, candlestick holders, etc. What I would like to do is consolidate space (for security purposes) mainly and convert this stuff into bullion. Any suggestions or has anyone done the same thing? Sell to a refinery? If so, which one pays highest percentage? I would even entertain trading straight across to save time. Obviously I would like to get the highest $ possible. Thanks in advance for your recommendations!

 

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[AlienLifeForm]

ARA in Dallas pays 90% of melt.

 

[fistfulladirt]

Chances are you will obtain more money from antique collectors, than you will from the metal value.

 

[ARC]

Just caught your thread...

Still have these items ?

 

[cyberdan]

There are two ways I use to getting rid of old silver not worth selling as jewelry or antiques.
I am giving an example of just one ounce. Both ways require a much larger amount to make it worth while for both parties.
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I pulled all my junk 800, 925 and junk foreign coin silver and send it to Jay he posts on goldrefiningforum.com His screen name is scrapman1077

His post is Trade Mint Fresh 999 1 oz rounds for your scrap silver - Gold Refining Forum.com

He will take any and all silver, refine it and send proof silver rounds. Of course he makes a profit but it is minimal. I have done this three times over the last couple of years so I can vouch for him.

Silver is at $17.60 right now and as an example if you send him 41.4 grams of 925 sterling he will send one 31.1 gr 999 silver round.

41.4 gr of 925 = $21.51 31.1 gr of 999 = $17.60 refine fee = $3.91 ($3.91 over spot)

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My other way that I have done once is send my junk AG to ARA in Dallas (as warbaby says) but you have to be set up as a business.

If you sent in 41.4 gr of 925 to ARA with a 10% refine fee you would get $19.50

And then bought rounds at APMEX with the proceeds.
You can buy one Buffalo silver round for $19.69 ($2.09 above spot)

 

[The Urban Prospector]

Just caught your thread...

Still have these items ?

Yes, I have quite a lot. I am liking the idea if trading it for silver rounds.

 

[The Urban Prospector]

Thanks for all the input. I just purchased some crucibles and a mold. Might try my hand at making some sterling bars....trading for silver rounds sounds pretty good though.

 

[cyberdan]

Thanks for all the input. I just purchased some crucibles and a mold. Might try my hand at making some sterling bars....trading for silver rounds sounds pretty good though.

You can melt and pour into bars but you will have a hard time selling. It will be unmarked metal. Even if everything you melt is marked 925 that does not mean it is. There are a lot of jewelry makers that fudge or even lie about silver content. The guy I spoke about earlier will have a refinery melt my entire lot and then test the bar to see exactly how pure it it is. He will then send their marked 999 fine rounds.

If you have enough junk silver you can also send directly to a refinery to do the same thing. But then you will probably have to have a business account with them and get paid by check.

 

[A2coins]

I agree I buy 1 oz bars every time I have a little extra cash from mattheys people would be cinfident it is 1 oz 999 but if just anyone does it then its suspect I wouldnt buy them