Best way to sell scrap sterling?
December 4, 2023 8:23 AM Subscribe
How best to sell about 400g of scrap sterling?
A friend has been assisting an elderly relative who is downsizing and who has a decent amount of scrap sterling - everything from a few forks and spoons to weighted candlesticks to broken jewelry to trinket dishes. We guess that there must be about 400g of actual sterling altogether, allowing for weighted items. None of these things are in outstanding condition. This seems like it should bring in a couple hundred dollars or a little more. Everything is marked 925 and has a plausible origin - we're confident that it is sterling.
We are reluctant to sell on eBay since we've heard some stories about phony complaints from buyers who just keep the sterling, but would selling it in small lots minimize risk/maximize price?
If we sold it to a scrapper/jeweler/etc for melting, how could we find someone reputable who would give the best typical price? We don't want to nickel and dime this since we're trying to get everything downsized, but we also don't want to absolutely throw money away.
My friend is in the Twin Cities area.
A friend has been assisting an elderly relative who is downsizing and who has a decent amount of scrap sterling - everything from a few forks and spoons to weighted candlesticks to broken jewelry to trinket dishes. We guess that there must be about 400g of actual sterling altogether, allowing for weighted items. None of these things are in outstanding condition. This seems like it should bring in a couple hundred dollars or a little more. Everything is marked 925 and has a plausible origin - we're confident that it is sterling.
We are reluctant to sell on eBay since we've heard some stories about phony complaints from buyers who just keep the sterling, but would selling it in small lots minimize risk/maximize price?
If we sold it to a scrapper/jeweler/etc for melting, how could we find someone reputable who would give the best typical price? We don't want to nickel and dime this since we're trying to get everything downsized, but we also don't want to absolutely throw money away.
My friend is in the Twin Cities area.
Ross metals on NYC does this well...I have used this numerous times. They have a webpage.
posted by Czjewel at 10:53 AM on December 4, 2023 [1 favorite]
posted by Czjewel at 10:53 AM on December 4, 2023 [1 favorite]
Above is correct. Use a refiner.
posted by bluesky78987 at 11:58 AM on December 4, 2023
posted by bluesky78987 at 11:58 AM on December 4, 2023
That's about 12 troy ounces of sterling, and you'll see offers listed in terms of a percentage of the current spot price. Sterling is only 92% silver, and there are costs associated with refining. The current price is around 24$, so I would expect about 80% of $250-290.
When refiner takes your package they'll document what you sent - and try to weed out any plated goods (which are essentially rubbish). Then they will melt it all down. Once it's a blob then it will get tested for the % silver and you'll get the offer.
posted by zenon at 12:26 PM on December 4, 2023 [1 favorite]
When refiner takes your package they'll document what you sent - and try to weed out any plated goods (which are essentially rubbish). Then they will melt it all down. Once it's a blob then it will get tested for the % silver and you'll get the offer.
posted by zenon at 12:26 PM on December 4, 2023 [1 favorite]
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posted by leaper at 9:09 AM on December 4, 2023 [2 favorites]