.75-cents Turns into $75.00+

[billjustbill]

At a garage sale last Friday, my wife stayed in the car, with the understanding I'd wave if I saw something. I waved... I'd found three metal hollowware pieces; open sugar bowl, creamer, etc. They were not silver but cast into the bottom of each piece were the words: "Made in Occupied Japan".

As she continued to look, I went around the tables a second time, and I saw a dark and dented child's metal mug with the words "Steve" engraved on it, but no date. I picked it up and looked on the bottom. It was stamped "Sterling" by International Silver Co. Then I found a pair of weighted "Sterling" candlestick holders. The lady of the garage sale said, "I'll take $1.50 for all of that." It was six pieces at 25-cents each.

The weighed candlestick holders were filled with plaster and the silver "skins" were very thin, but their weight does add up. The baby cup weighed 55 grams of sterling silver, all by itself.
The .75-cents spent on the three Sterling things is worth:

Weight of Alloy 88.30 Grams - 56.78 Dwts - 2.839 Troy Ozs
Alloy Silver of 0.925 Purity
Weight of Metal 2.626 Troy Oz of Pure Silver
Price Used 29.27 USD / Troy Oz
Value of Metal $76.86 USD

 

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[packerbacker]

Who do you sell stuff like that to?

 

[billjustbill]

Who do you sell stuff like that to?

I sent it insured and Registered mail to ARA refinery in Dallas, Tx., when silver was over $28.00 back before Christmas. I didn't hear from them and made several calls to find out how much was refined and the amount. After the third call....They say they pay the price on the day it arrives, then said they pay on the day it was "Processed in", and then said, "the price is based on the time of day they assay the metal and contact their buyer", and then they lost my stones in the silver jewelry and couldn't send them back.......... They paid me their usual 90% of the market value on which ever time they chose to set the amount...and they did pay me an extra $50 for the missing stones, though.

If you send them silver or gold, I too, advise not to mix the shipment as they appear to be swamped with refinning. Oddly, the $50 was in-closed in the total of both silver and gold, but there was no reference as to why the amount on metals' invoice had one amount and the check was for $50 more.

May have been an honest mistake....I'll give them one more try and post back here....

Bill

 

[creeper71]

Who do you sell stuff like that to?

I sent it insured and Registered mail to ARA refinery in Dallas, Tx., when silver was over $28.00 back before Christmas. I didn't hear from them and made several calls to find out how much was refined and the amount. After the third call....They say they pay the price on the day it arrives, then said they pay on the day it was "Processed in", and then said, "the price is based on the time of day they assay the metal and contact their buyer", and then they lost my stones in the silver jewelry and couldn't send them back.......... They paid me their usual 90% of the market value on which ever time they chose to set the amount...and they did pay me an extra $50 for the missing stones, though.

If you send them silver or gold, I too, advise not to mix the shipment as they appear to be swamped with refinning. Oddly, the $50 was in-closed in the total of both silver and gold, but there was no reference as to why the amount on metals' invoice had one amount and the check was for $50 more.

May have been an honest mistake....I'll give them one more try and post back here....

Bill

Instead of going thru all that BS again just send your silver/gold to www.midwestrefineries.com they have been in business since the mid 30's an they are honest an send a very detailed invoice with your check...

 

[crankyolman22]

Nice Find and profit. Like creeper71, I send mine to Midwest but in my past 2 shipments they held them for several days and payed me the lowest spot over those days. I also had to call them and they shorted me by about 2-3%. Also when I got the "detail invoice" it actually had no details. They used to give me an actual detailed invoice but have stopped. Now I just get a check with a basic non detailed invoice. I like Midwest and will probably keep using them but have been thinking about ARA. It sounds like Midwest may be less of a hassle. Again, Nice find!