I received an email today from a major dealer indicating that my 55.7 troy ounces of .999 silver had a melt value of $1979 less refining fees. I'm coming up with at least 10% more than that (but maybe I'm missing something!)
Thats means that the silver was worth $35.53/ounce. Did you send your silver in back when silver was $35?
Assayers usually give 90% of spot on silver. This has always been the case for the assayer that my store uses.
Is that dealer telling you what he would PAY for your 55+ oz? Because that would be the reason for the disparity... He might be buying them from you for 15% below melt. My local dealer pays 90% of melt price, in your case the number's closer to 85%.
Honestly I've never had trouble selling silver on craigslist...and getting full melt on it. See if you can bundle it up into easy-to-swallow bunches and offer someone a tiny pct off if they take it all. There are plenty of people buying silver...too many to sell it below melt. Just my opinion...
The dealer wasn't making an offer to buy but just stating a "that day" silver value. A bad calculation from someone who just wanted to get rid of me!
