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Message:: [QUOTE="desertgem, post: 788586, member: 15199"]I have a good friend that owns a silver/gold/jewelry exchange. I know he and several pawn shops around here give 60-65% for sterling depending on the size of the object. More for smaller like chains, etc. They will only offer 50% or less on bulky things such as tea set, platters, etc. because they are so often sterling on the outside and other on the inside. No one is going to let you saw their platter in half and then say, no deal. Also each area has to be tested as much mislabeling occurs ( especially foreign made goods other than European). Then since almost no shop has their own smelter, there is secure shipping, smeltering fees ( and if it gets below a certain level of assay, penalties have to be added, etc. He only makes about 15% profit on smeltered silver. If he can sell it to the antique stores or over the internet, he does better. He can readily find buyers for gold coins, US, Canadian, or Mexican, so he can do better even paying around spot. I think once anyone tries to deal with a smelter and business expenses, they will realize that 65% is not a bad deal at all. IMO. If Silver gets so hot, people come into such shops for knife handles, spoons, etc. with acid test spots on them and pay close to spot, he would pay more to the sellers of such. I am sure if he could sell locally at 80%, he would resell what he buys at 65%, just to get some profit and avoid the hassle. jim[/QUOTE]