I used to (til I caused some damage to the house and the landlord said no more
) buy scrap 925 lots on eBay and melt them myself into small ingots. It was profitable-I'd buy the lot at say (silver was more then) $28/oz and sell a 1oz ingot for about $38.
Anyways, I realized that my local coin store sold junk silver rounds ("Mothers Day 1982" rounds and such lol) for only 50¢ over spot. I remember seeing how much people would pay for
5 grains of .999 silver shot. Did you know there are
480 grains in a troy ounce? I saw dollar signs. I'd buy a bunch of the junk rounds, head home, melt em w/some flux to ensure purity remained, and just dump the molten silver into a pot of cold water...BOOM: I had silver shot.
I would make listings for 5 grains all the way up to a gram of silver. When you sell it in such small increments, you can collect a premium on it every time. I sold 5 grains for $1.49 (including shipping-just a first class stamp...so I made about $1/5 grains) ALL day. In fact, its a listing I've had just sitting on eBay for months. I put in quantity 100 and a few days ago that was all of them!
I would love (and be an idiot not to) sell the rest of the shot I have this same way. Even w/eBay's fees I collected at least 3.5x $ per ounce. BUT my PayPal account is suspended right now and "being investigated" because I "sold bitcoins" with it (what I actually did was take redeemed Casascius coins, prep them for reloading, list those, and then add like .1 BTC to them once the customer left positive feedback...I thought I was so clever. I am sure that there is literally no way to sell bitcoins for PayPal. If you get away with it a couple of times, its only a matter of time until PayPal does to you what it did to me). The money that I rely on to live is tied up in my PayPal account until their "investigation" is over. And, to the shock of people who pay 10x value for silver shot because they think the world is ending and it will be the only currency accepted, the grocery store does not accept silver shot for a loaf of bread.
Anyways, I have .755 troy ounces of .999 Silver here. As of right now (5/26/13), Silver is $22.44/ozt. So, for the sake of rounding it off
I have $17 worth of silver here. I have some unused bags already labeled "5 grains" that I can send you, too (if you want to sell). I'll ask $1 for shipping. So, get .755 ozt of .999 Silver plus selling materials and shipping for
...not bad!
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