Stearling VS .999

disagree it seems your not getting more than 65% for the coin.

 

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65% is BS

Sadly many pros in our hobby are overglorified con artist. They make up bs rules to rip people off and make penny profits. Sux but kinda the way it is. 65% is a rip off. Only reason people take it is because they are despirate. Or the items are stolen. Open up a payday loan and check cashing busniess while your at it. Just to ensure you work over poor people .

 

Already in the process of purchasing one. Gotta luv it, this is better than mc'Ds scams

 

why buy one that will hurt your short term profit as you get the money you paid for it back, and by all means pawn peoples titles too. :rolls eyes: Hell also buy ****y cars and put a quick

 

I disagree, I'm not selling for 65%, so a value still hasn't been determined.

 

Because within 2 months it pays for itself and im in the green. gotaa luv it babababa

When you find someone willing to pay more than 65% for marked sterling let me know...
Until then 65% is what you will get at most, even if you dont like the price.

 

My business regularly buys silver of all types and has better payouts than anything mentioned so far. There are legitimate professionals in the industry, but we are not always so easy to find.

Here's the way that the process works:

- seller sends scrap PM's
- buyer receives and then homogenizes (melts it into 1 bar)
- buyer weighs bar and then gets the assay results
- buyer issues the settlement check to the seller based on processed weight, assay results, and published payout ratio.

If you don't deal in this manner, then you will not get the best prices for your PM's. Instead, you will get quoted prices of 50% or 65%, because that person is going to send it to someone like me and get paid more.

 

You got a website or somethign where I can look up more information about your company or refinery?
Would be appreciated.

 

My company's web address is: http://marketharmony.net

Specifically, we're talking about the refining aspect of it. You can upload and print a pdf of our refining and production fees with this link:
http://marketharmony.net/uploads/Refining_and_Production_Fees.pdf

 

I'm quoting myself to say that if dealer don't offer more for sterling, I will sell it to a smelter who will offer me more. Then there won't be any more sterling silver coins to deal with. It is in dealers interest to offer more. Once the coins are melted, they are removed from circulating into and out of coin shops which will lower the supply of coins to deal in.

Again, I'm not talking about scrap sterling. I'm talking about 20 Balboas coin....minted by the republic of Panama. I don't see why it wouldn't be Sterling but something less than 92.5%.

 

Lets go over some flaws in your argument.
For you send it to a smelter you would have to ship severla hundred ozs minimum for it to be worthwhile. you still woudl only get paid about 80-90% of .925

Second a dealer has to make a profit and dealers send it in large bulk. As in usually 5,000-10,000 ozs of silver.

Third even when silver is marked .925, due to the manufacturing process it's usually less than .925

Fourth people arent even aware about the existence of this coin. I would guess most were destroyed back during the 1979-1980 melt. So no demand no interest. These coins would go straight to the smelter. all 90% gets resold. Any pure bullion coins that are euorpean or american are kept. Other foreign bullion coins (pandas, mexican silver etc.) would go to the smelter. If these were bullion rounds or bars and arent from inglehard, sunshine mint or quality silver bullion, they go to the smelter.
Essentially it has no resale value so its only worth scrap. yoru going to get payed on a scrap metal scale. so if your paid 65% on .925 for scrap then thats what you will get.

There really is no way to explain it further than that.

 

I'm not sure where you got your information, but there are some serious errors in your response.

- Many smelters (refiners) do not have a minimum amount, and many pay out the same regardless of the quantity. Some work with better commissions at higher volumes, but others have flat rates. There are avenues for small scale and large scale scrap lots. I personally have experience with dealers that just send in a weekly amount, whether it is a few ounces to a few hundred ounces. I've never seen a dealer send in 5,000-10,000 ounces in one lot. And, I have seen massive amounts of 90% coin come from dealers to be melted. If they don't sell it within a few days of receiving it, they normally send it to a refinery.

- .925 markings have been known to be less than sterling, but the majority are just as they are stamped. I don't know as to the "production process" to which you refer. But, there are some less scrupulous manufacturers that misrepresent their sterling or .925 products. Unless it is counterfeit, I have not seen any gov't issued coin to be out of spec.

- Any .999 carries a premium. It is the industry standard in purity. What's the point in sending it to be melted with scrap silver that is less than pure? Regardless of who makes it, there a market and a mark-up for it.

 

Any person who sends a Panda, Libertad or Kookaburra to a smelter dont know a single thing about bullion coins.

I repeat. That person dont know anything.

 

Good conversation... good info Market Harmony.. I'll be contact you all soon, as I do custom gun work for a living, with a lot of inlay work, and have about 2lbs+ of scrap silver sitting here that I'd like to sell.

 

Update......Read this link.

http://www.cointalk.com/t100683/

 

Based on what I have seen in the past on ebay, sterling silver coins or sterling silver art bars tend to do well on ebay. I have seen high winning bids that ended up being well above spot silver price. If a person wanted to sell a sterling silver art bar or a sterling collector coin, then ebay is IMO the best way to do it to get the best deal.

 

I just wonder what would happen if some of these guys defending the practice of paying less than spot price for any bullion would say if they went to sell their stock , (lets say company X, currently worth $100.00 on the stock ticker) and the broker tells him he will only pay them 75.00 because "well that's all its worth" Or the other equally lame "I have to make a profit too".
I bet they would call them a crook, swindler or a cheat. I understand paying less than spot for scrap, but any bullion, regardless of issuing country should be pretty straightforward. The metal content and purity is easy to find out and guaranteed by that government.

 

Nobody I know, including myself, would rip somebody off by only paying 65% of spot for sterling.

 

Well, what I think we need to do, and are already doing by discussing it here, is educate people that taking 60% of spot just because it is Sterling is ridiculous.

 

I just realized that's not true.

Those TV cash-for-gold so-and-so's would pay even less... much less. Gold they only pay 20-40%.