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Author Topic: Just throwing this out there: get your investment back in SILVER  (Read 729 times)
johnniewalker
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December 13, 2012, 07:02:20 PM
 #1

Hi everyone,
I'm not even sure I want to ask for a lone because I don't know if I can commit to it. If you check my profile, post history, etc. you'll see that I refine silver. I usually work with scrap jewelry (925) cause its easier to refine than coins (90), but I can do coins. There is a post on bitmit for scrap that I could refine A LOT of silver with. I can do bars/rounds in any weight, any purity-including .99. I just got the custom mold set and crucible I've been waiting for, so I'm equipped. I don't have the 17 BTC that the auction is going for. What I can promise someone if they want to lend is that their investment would be well worth it-I could refine that scrap into professional .99 bars in ANY size. Here is the auction: https://www.bitmit.net/en/item/11264-silver-scrap-lot-331grams-11-68oz-sterling-and-90
What's in it for me? For one thing I enjoy melting. And I would probably take an ounce or so for myself. Because for one thing, refining this would require a lot of silver shot, which I have to supply myself.
If anyone is interested please PM me. Time is limited because its an auction.
Thanks
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December 13, 2012, 07:47:32 PM
 #2

11.68X$32.38=$378.19

And its selling for 223.89 CAD

That's a good up-mark of ~+$150



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johnniewalker
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December 13, 2012, 08:15:40 PM
 #3

11.68X$32.38=$378.19

And its selling for 223.89 CAD

That's a good up-mark of ~+$150

Exactly. Although its not quite $150. Spot price for silver is always expressed in troy ounces, considering a .99 purity. I doubt this person measured in troy ounces (1 ounce=about 22 grams, 1 troy once=about 31 grams). And what they have is not .99-its a mixture of .925 and .90. I noticed too in one of the pictures a nickel. Now, from 1943-1945 the US govt needed nickel for the war effort, so they minted nickels in silver but only 40%. I notified the seller about this and am expecting them to lower the price. Then we can really figure dollars and cents.
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