Message:

<p>[QUOTE=&quot;Conder101, post: 1368511, member: 66&quot;]Agreed, during the 1979/80 melts Leon sent 300 bags of unc 1883-O dollars to the smelters.&nbsp; That is 300 bags of just one date and mint.</p><p><br /></p><p><br /></p><p>Yes and no.&nbsp; Yes a premium if you have a ready strem of clients that want them and more clients than available bags.&nbsp; But six months before the big melt those unc 1883-O dollars were selling for $10 to $15 each and were slow movers because they are common, and Leon had 300,000 of them.&nbsp; If the collectors weren&#039;t interested in them at $15 six months before they definitely weren&#039;t interested in the six months later at $42.&nbsp; But the smelter will take them all at $40 and away they went.</p><p><br /></p><p><br /></p><p>It is for the refiner.&nbsp; He has customers who need pure silver that he needs to supply so he needs scrap stock and a lot of it so he will normally be a high bidder for the silver coins.&nbsp; The only way a collector or speculator is going to get it is to be willing to pay more than the processors will.&nbsp; A lot of people say there is a market for bags of junk silver.&nbsp; True but how many of those bags are being bought by representatives of the smelters?&nbsp; Like I said they need stock and if the market price for bags is low enough they can melt it profitably, they will be the ones buying them up.</p><p><br /></p><p><br /></p><p>No they don&#039;t&nbsp; They do have their own melting and minting capabilities but they are very limited on refining capabilities.&nbsp; So they melt and reprocess some of the 999 fine material they buy but not the sterling and coin silver.&nbsp; That goes to the smelter/refiners</p><p><br /></p><p><br /></p><p>Take the price your being paid for junk silver and determine how much you are being paid for pure oz and compare that to the spot price which is about what the refiner gets paid and you&#039;ll find there is a difference.&nbsp; There are some expences but in that difference is where the refiners make their money.&nbsp; It isn&#039;t much per oz, but they do a LOT of ounces.[/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