Scrap Silver and Gold

Discussion in 'Coin Chat' started by Aslanmia, Nov 18, 2008.

  1. Aslanmia

    Aslanmia Active Member

    This is kind of a bullion question and I'm looking for some recommendations...

    I may have some scrap gold and silver I would like to get rid of in the future, and of course I'd like to find a trustworthy and reliable buyer who would offer a good price.

    It could be a business or an individual for that matter, it's just that my choices around these parts are limited and I'm not real thrilled at the idea of using one of those Internet "send us your gold" places.

    I'm looking at establishing a standing relationship here, because I may be doing this on a regular basis.

    If anyone knows of a good dealer, or you deal in metals yourself, please drop me a PM.

    Thanks!
     
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  3. georgiansilver

    georgiansilver Senior Member

    Suggest you have a google or whatever ... just put in SCRAP GOLD DEALER NEWFOUNDLAND and see what comes up.... check a few of their prices and see who pays the best. That's what I did for England and found Baird & Co of Hatton Garden London... who seem to pay the best for Gold and silver scrap in the UK. Best wishes, Mike.
     
  4. GDJMSP

    GDJMSP Numismatist Moderator

    You can always take it to a jewelry store, many of them will buy it.
     
  5. Aslanmia

    Aslanmia Active Member

    The problem I'm running into around here is that the market is so small there's not much in the way of competition. Most of the jewelry stores around here are either part of a retail chain or just try to lowball you.

    As for dealers, I only know of one guy and he's pretty much the only game in town at the moment. For that reason alone he'll only offer well below melt.

    I think I'm better off finding a reliable trader out of province and preferably in the US because my shipping costs will actually be cheaper.

    My dream would be to find one of those mom and pop shops that keep all their foreign coins and sets in a dollar bin and will take scrap gold and silver at spot or above in trade... lol.
     
  6. GDJMSP

    GDJMSP Numismatist Moderator

    10% under spot is a rule of thumb.
     
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