I think I cheated my self in my last silver buy.

[cyberdan]

Yesterday I found someone that had a lot of candlesticks for sale. She sent me several photos of each. I weeded out the plated and the pewter ones and we agreed on a price for the four in the photo.

You can see she used a postal scale. Total weight was 20 ounces.
These are all sterling weighted and in my experience 10% of the weight is silver.

This is where I went wrong and I should have known better. I have been buying candlesticks for over a decade.

I took the 20 oz and multiplied by 31.1 grams = 622 grams & 10% = 62.2 grams of 925 = $44.23 melt.
Well this morning I started thinking a postal scale weighs in avoirdupois ounces (1 oz = 28.3 grams) (ah vah duu pwa)
gold and silver are weighed in troy ounces (1 oz = 31.1 grams)

This is the math I should have used 20 oz multiplied by 28.3 grams = 566 grams & 10% = 56.6 grams of 925 = $40.25 melt.

Remember a gram is a gram but not all ounces are the same.

I will not know the outcome till I get them and tear them down.

 

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[TheCoinKid]

Your calculations look right to me. If all you lost was 4 bucks, just chalk it up to the cost of learning (maybe just learning to pay more attention).

Curious though, if 10% of the weight is silver and it's not plated, what accounts for the other 90%? I admit, I know nothing about the construction or valuing of candle sticks.

 

[cyberdan]

Your calculations look right to me. If all you lost was 4 bucks, just chalk it up to the cost of learning (maybe just learning to pay more attention).

Curious though, if 10% of the weight is silver and it's not plated, what accounts for the other 90%? I admit, I know nothing about the construction or valuing of candle sticks.

I shouldn't have to chalk it up to the cost of learning I wrote the book on it.
I do not want to break-even when buying silver. I want to get it at about 25% under spot.
I have one chapter just on tearing down candlesticks.

The silver feels like very heavy duty aluminum foil. The other 90% is mostly some kind of strong plaster or a resin. There is also a steel rod going down the center.

On another deal the lady had a pair of candlesticks. The bottom clearly said STERLING WEIGHTED (this is what I look for) but the base was plastic and not silver. I wanted to buy just so I could see what the percentage was. I made an offer ($40 based on weight) to cover myself but she refused. She thought $255 was what they were worth. I have never seen plastic bottoms before.

 

[ARC]

You wrote a book on buying gold and silver at lower rates ?

What was wrong ?

Not enough competition out there for ya ? ? ?

:P

 

[cyberdan]

Not enough competition out there for ya ? ? ?

When I did the book I lived in southern Cali. I would hit 40-50 yardsales every saturday. That was just is a 10 mile radius, I was not worried about competition. Now that I am retired and 900 miles north not worried again because no yardsales. On a good summer saturday I might be able to track down on my computer 4 or 5. Not even worth going out for that small amount.

 

[cyberdan]

This is the math I should have used 20 oz multiplied by 28.3 grams = 566 grams & 10% = 56.6 grams of 925 = $40.25 melt.

I will not know the outcome till I get them and tear them down.

Well after waiting two weeks for a 3-day priority box I got to tear them down.

Total weight in grams: 542.5 grams - cost $44.73
Total silver skins: 105.9 grams - melt $80.16

Because it is so much heavier than expected I want to let you all know some percentages when you go to yardsales and thrift stores.

There are two tall and two short. I have never recycled tall ones before. On the short ones there is plaster top to bottom. On the tall ones plater is only in the base. See my photos so you know what to expect.

The 2nd pic is what you find inside. The 3rd pic is the skin flattened on my anvil. (good therapy, pound the crap out of it)

 

[pepperj]

So it worked out well for you then. Interesting results in the final breakdown.
I can the woman now "Tried ripping me off he did"
The sterling silver cutlery has gone up on the local auction sites. Coinage is a laugh as it sells for above book values most times.
The regular sterling has been tied into lots of plate, or has been misrepresented to the point where I have corrected the auction site many times.
They'll go on the sellers info. of "Silver" then post photos of the makers/hall mark-all being plated cutlery or pieces.

 

[cyberdan]

I can the woman now "Tried ripping me off he did"

The name of the game is to make money. What pawn shop would pay over $40 for those? On the two smaller ones I usually only pay $10 a pair or walk. But there have been times they would be $5. I never complained.