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<p>[QUOTE=&quot;Midas, post: 67411, member: 2761&quot;]I used to work for a company that collected/bought precious metal.&nbsp; That is Au, Pt, Pd and Ag alloys (dental) to all types of jewelry.&nbsp; Silver was always a hot topic as I had a numebr of clients that got caught up in the Hunt Brother&#039;s run on silver in the 70&#039;s and were sitting on bars of silver they paid anywhere from $15 an ounce to as high as $45 per ounce (thank you sir, may I have another)</p><p><br /></p><p>Silver was paid at 85 cents to the spot dollar.&nbsp; 85 cents on the dollar was very high compared to most places as some paid only 75 cents to the dollar.&nbsp; Since we did a high volume of scrap, the companies that eventually refined in back into bar or shot form give us a volume break.</p><p><br /></p><p>As stated, A dealer that buys scrap precious metal has to then sell that metal (by the troy pounds) to a refiner like Handy and Hardman:</p><p><br /></p><p><a href="http://www.handyharmancanada.com/hbpm/hhstory.htm" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.handyharmancanada.com/hbpm/hhstory.htm" rel="nofollow">http://www.handyharmancanada.com/hbpm/hhstory.htm</a></p><p><br /></p><p>They inturn reprocess the metal into the bars you see at Ft. Knox.</p><p><br /></p><p>This all costs money!&nbsp; So anybody that thinks they can buy gold or silver at spot or sell it at London Fix pricing (universally accepted throughout the business world), they have another thing coming.[/QUOTE]</p><p><br /></p>

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