Round Four of Scrap Sterling Heading Out
It's time to send off the latest haul of scrap Sterling to the refiner. A lot of it was necklaces, chains, bracelets and some rings. It seemed like a pretty good haul.
A lot of it was still in decent shape. I found a couple unique pieces that were in good shape, so I saved them for myself. I'll feature those in a separate post.
In total, I'm sending off 760 grams of scrap Sterling. The refiner takes 10-15%, so I'm hoping by the time I get it back I'll have around 18 ounces of silver in one ounce silver bars. Fortunately, it seems the processing time has come down and they're quoting about a month, so hopefully I'll get it back soon! Who knows what silver prices will look like in a month. At the rate they're going, they'll probably be around $75/ounce, but I'm hoping they'll be higher by then.
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This just shows that the supply chain is still having issues, just more issues than yesterday. Another sign that the silver market will have it's day of reckoning when there isn't enough silver to meet demand.
Keep on Scrapping/stacking!
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Yeah, it's crazy how much of a backlog we're still seeing. Oh well. I'll take what I can get while I still can. 😁
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Wow, that looks like a nice haul. Hopefully you are making a good profit on it!