Sterling Silver for Pennies

[billjustbill]

In the last 18 months, I began looking for silver at garage sales.
The last two weeks I've found two bracelets, one marked .925 or Sterling.
The scales show they weigh 2.26 ozs. Both places sold them for .50 cents each.

At another one last Saturday morning, I found a small teapot with "Sterling" and a Hallmark stamped on the bottom. By the broken bits and pieces left on each end, it once had an Ivory handle. The price sticker read: $2 ....... With the nonmetal handle gone and leaving only the metal teapot, it weighs 9.86 ozs.

If I keep collecting silver at these prices, what should I do to convert it
into dollars?

 

Amazon Forum Fav 👍

DR.ÖTEK Metal Detector, Waterproof Gold Detector, Pinpoint & Terrain Modes, Professional Metal Detector - Grab it through Amazon!

[cyberdan]

If I keep collecting silver at these prices, what should I do to convert it
into dollars?

Send them to ARA in Dallas. 10% to refine, takes a week.

 

[billjustbill]

I did make contact with ARA. For the 12.12 oz of sterling silver,
they quoted $186.98 at the June 29 market value if taken to their
store front in Dallas.....

Next question: Would you sell now or hold it? Why?

Thanks,
Bill

 

[cyberdan]

Next question: Would you sell now or hold it? Why?

looks broke. MELT IT! $186 will buy a lot more.

 

[dogcaught]

Why would you convert it to dollars? The silver has actual value. But if you prefer the fiat currency, then I would either hold for now or sell/melt and convert the cash back into .999 silver bullion (high liquidity). The upswing is far from over. You could potentially turn your $3 investment into a nice 10 troy ounce bar that isn't losing any momentum in value. Thats just me though. JJ

 

[billjustbill]

At one of the last garage sales I visited late this morning, I was surprised to find a .925 toe ring for a quarter, and a 1" thick by 3"x3" block of clear acrylic with bright Uncalculated coins embedded in it. Once a desktop pen holder and paper weight, it has one of each coin, penny to Franklin half dollar, for the year 1959....

Today, the silver coins' melt value is about $12...

It was stickered: .25cents.

Bill

 

[billjustbill]

If I keep collecting silver at these prices, what should I do to convert it
into dollars?

Send them to ARA in Dallas. 10% to refine, takes a week.

Cyberdan, thanks again for the company's name. I was wondering when they base their payment for your goods? When they sign for it the day they receive it, or the day it goes into furnace?

Here lately, silver prices have varied a bit.

Thanks,
Bill