With the price of silver so high, I choose to scrap for silver instead of paying for straight bullion. I buy it under spot, send it to the refiner, get silver bars back, and sell enough to cover my costs. Everything left over is mine to keep and add to the stack.
Today, I got 132 grams of Sterling silver at about 80% under melt. Let's see what we got!
The lot appears to be primarily a custom jewelry lot, with a few random rings, earrings and a couple of chains throw into the mix.
Yes, these key rings are Sterling silver! I'm keeping one for myself just because it's unique.
All of these pieces are apparently used to make an all-Sterling silver keychain that says "I love you." My wife wasn't interested in it, so it's all going to the refiner.
Uh-oh! This isn't silver! Fortunately, it's only about 4 grams, so it doesn't ruin the margins.
I set the earnings and ring with the stone aside to test later. If the stones are real, they'll stay.
After subtracting the non-silver, earrings and ring with stones, it all comes to 126 grams of Sterling silver. Not too shabby! This should get me about three silver bars back from the refiner. I'll combine this with some other lots I found and should end up with a couple ounces of silver as my pay for my time.
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