Message:

<p>[QUOTE=&quot;medoraman, post: 8395027, member: 26302&quot;]Basically agree. Spot is the current cash market price for the commodity that day. &quot;Melt value&quot; can be used as the value of the pm in the item, (quantity of pure pm times spot price). I agree with you if people never use &quot;melt value&quot; to mean what a refinery would pay you. Like you said, everyone needs to make a profit, and it costs money both to refine metals, cast into commercially acceptable ingots, then ship to a buyer of said ingots to even ACHIEVE spot price. So, a refiner by definition needs to be quite a bit back of melt value in order to cover costs and still make a profit. This is why even refiners directly might only pay you 60% of melt for old sterling silver items because sterling is more expensive to refine. They may pay 80% for 90%, and 90% for .999 stuff, (just making up example numbers from previous history, no idea where the market is today).</p><p><br /></p><p>So, as long as everyone understands you will NEVER be able to sell for melt value to a refiner,, (unless its an item the refiner will resell as is, like a bag of morgans), I agree with your post.</p><p><br /></p><p>I recently had a disagreement on Reddit with a guy who informed me why all coins are &quot;always&quot; worth more than melt when selling back to a dealer. He said he has been doing this for two (whole) years, and its always been that way. I gave him periods where this is true, periods where its not true, and spent many paragraphs explaining the market to him. His reply? &quot;All I can say is...its 2022&quot;. You can&#039;t fix stupid or teach people who refuse to learn. I guaranteed him sometime in the next 5 years that will no longer be true, and good luck in life. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie3" alt=":(" unselectable="on" unselectable="on" /> I like teaching, but a snarky youngster on reddit exceeded that desire.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in