Jump to content
House Price Crash Forum
p.p.

Diy 0.925 Silver Bars / Melting / Assaying

Recommended Posts

Ok - I want to start a thread which focuses on all aspects of DIY silver bars.

NOTE - I am not advocating this; if you have hallmarked scrap or/and pre 1920 coins, IT MAKES FAR MORE ECONOMIC SENSE to keep them 'as is' and not melt them into un-classifiable ingots.

However.......

Out of interest, this is something I have experimented with (see here) and have used the most scrappiest scrap for the melt (hollowed out knife handles etc.)

I now note that there are 'melters' offering their services on ebay - which is a new one on me (no assay cert. though)

If I could get a lot of scrap melted into .925 bars with an assay mark of exact content (.9ish), and i could do this economically, i would seriously consider it.

Anyone any ideas on assaying?

Share this post


Link to post
Share on other sites

Give Sheffield Assay Office a call they offer the best value service that I'm aware of in the country.

thanks - will do

I'll post back here when i get some prices

Share this post


Link to post
Share on other sites

I got my first 1kg of sterling melted 5 months ago,it cost me around £575 for the scrap +assay and the return of the bar by special delivery.

Most silverbugs don't seem to think this is not a good route to go down,but if silver really does go to the moon I think this is very cost effective.

I actually sold all of my .999 silver at an average of £33/£35per oz and bought .925 silver and melted it into bars and with what money was left I purchased 2oz of gold.

As long as you have an assay certificate there should be no problems selling the bars in the future.

Share this post


Link to post
Share on other sites

I got my first 1kg of sterling melted 5 months ago,it cost me around £575 for the scrap +assay and the return of the bar by special delivery.

Most silverbugs don't seem to think this is not a good route to go down,but if silver really does go to the moon I think this is very cost effective.

I actually sold all of my .999 silver at an average of £33/£35per oz and bought .925 silver and melted it into bars and with what money was left I purchased 2oz of gold.

As long as you have an assay certificate there should be no problems selling the bars in the future.

I tend to agree but the proof would be in the pudding. It would be interesting to see what you could get for a 1kg bar with assay cert on feebay. I dont think it would bother me that much although I would probably still be more cautious than most and am not sure to be honest how close to spot I would pay for it.

I would like to do it but the costs involved are prohibitive imo as they put the costs quite a bit over spot although it may be worth looking at again if silver gets much cheaper.

I cant find anyone that will refine the 50% for me but there are a few places that will pay half of the .999 price for it which isnt too bad. That stuff I would like turned into bars but dont think that messing around with the chemicals involved required to refine it are such a good idea.

hey pp, you dont fancy having a crack at refining some silver to make it pure do you? :)

Share this post


Link to post
Share on other sites

I tend to agree but the proof would be in the pudding. It would be interesting to see what you could get for a 1kg bar with assay cert on feebay. I dont think it would bother me that much although I would probably still be more cautious than most and am not sure to be honest how close to spot I would pay for it.

I would like to do it but the costs involved are prohibitive imo as they put the costs quite a bit over spot although it may be worth looking at again if silver gets much cheaper.

I cant find anyone that will refine the 50% for me but there are a few places that will pay half of the .999 price for it which isnt too bad. That stuff I would like turned into bars but dont think that messing around with the chemicals involved required to refine it are such a good idea.

hey pp, you dont fancy having a crack at refining some silver to make it pure do you? :)

i just don't have the appartus (or know-how tbh)

the thing about sterling is i am quite happy to have sterling bars as the end result - my two biggest problems are maintaining heat inside the ingot cast and making sure never to pour the full melt, because all of the crud is at the end

i like pre 47 silver as well; never to be melted of course, but i do think over time that pre-47 will gain in numismatic value; however, this of course depends on how long you intend to hold it!

Share this post


Link to post
Share on other sites

one thing you do realise after a while dealing* in scrap silver, is just how relatively little sterling scrap is available in good quantity

i'm not talking the odd ring or bracelet here, but a good set of solid spoons or a good weighted pot etc.

*edit - not that my knowledge is exhaustive of course, but from what i have seen.......

Edited by p.p.

Share this post


Link to post
Share on other sites

I have scored some good deals on Ebay for silver spoons and forks,you can get sterling for around the spot price if not lower.

Because the price of silver has gone up so much I now only send in just over 50oz at a time as this is more cost effective.

For some reason people make a big issue about silver purity but not gold,for instance my bars have a higher silver content than the gold content of many bullion coins such as say a sovereign or a krugerrand.

Share this post


Link to post
Share on other sites

I have scored some good deals on Ebay for silver spoons and forks,you can get sterling for around the spot price if not lower.

Because the price of silver has gone up so much I now only send in just over 50oz at a time as this is more cost effective.

For some reason people make a big issue about silver purity but not gold,for instance my bars have a higher silver content than the gold content of many bullion coins such as say a sovereign or a krugerrand.

Send in? you mean send to be made into bars and assayed?

Issues? have you sold any of the bars that you have had made? I would be interested to know what sort of wrangles there were and price relative to spot was achieved.

Share this post


Link to post
Share on other sites

Send in? you mean send to be made into bars and assayed?

Issues? have you sold any of the bars that you have had made? I would be interested to know what sort of wrangles there were and price relative to spot was achieved.

Yes they have been assayed and as of yet I have not sold any.

While I know they will sell at a discount compared to .999 bars they have an assay certificate and a serial number which can be verified by the Birmingham assay office as to the date it was assayed which is more than most bars on Ebay have.

I am very confident these bars would be salable.

Share this post


Link to post
Share on other sites

i notice someone selling a diy bar on ebay - i think they have pitched it too high though

http://cgi.ebay.co.uk/scrap-silver-/270751563759?pt=UK_Coins_Bullion_Bars_SM&hash=item3f0a0cffef

hmm, maybe not when you look at this

http://cgi.ebay.co.uk/1-4-kilo-250g-925-sterling-silver-bullion-bar-ingot-/250821231904?pt=UK_Coins_Bullion_Bars_SM&hash=item3a661c4520

it just goes to show the importance of a hallmark / or assay cert

Share this post


Link to post
Share on other sites

i notice someone selling a diy bar on ebay - i think they have pitched it too high though

http://cgi.ebay.co.uk/scrap-silver-/270751563759?pt=UK_Coins_Bullion_Bars_SM&hash=item3f0a0cffef

I would buy that from him, especially at just over 50% of spot.

I would have preferred to have simply bought the hallmarked scrap though.

If you look through his FB then you can see that he has bought a lot of sterling scrap so I wouldnt be worried about this being genuine. I do think that he made a massive fk up though which started with him buying a mould :lol:

If he was knocking out kilo bars then it would be worth buying and sending for assay but not quarter kilo's.

I dont think he will be selling the other bars having dipped this toe since I expect it to get bitten off.

Share this post


Link to post
Share on other sites

sold for £132 and I make current spot price for it £180, ouch, dont expect he will be selling the other bars that he made since he paid spot for all the scrap that he used.

Share this post


Link to post
Share on other sites

I got my first 1kg of sterling melted 5 months ago,it cost me around £575 for the scrap +assay and the return of the bar by special delivery.

Most silverbugs don't seem to think this is not a good route to go down,but if silver really does go to the moon I think this is very cost effective.

I actually sold all of my .999 silver at an average of £33/£35per oz and bought .925 silver and melted it into bars and with what money was left I purchased 2oz of gold.

As long as you have an assay certificate there should be no problems selling the bars in the future.

MSE - can you give me an idea of the costs for the melt and assay

pm me if you don't want it to be read here

thanks

Share this post


Link to post
Share on other sites

MSE - can you give me an idea of the costs for the melt and assay

pm me if you don't want it to be read here

thanks

The total cost is as follows Dip sampling £5

Melt and Assay 1st kg(clean scrap) £38.90 (dirty mixed scrap is about £10 more)

Melt additional Kgs £3

Then 20% VAT

Also there are postage costs of around £22 there and back.

When the price of silver shot up I sent in just over 1600grams (around 50ounces) in to be melted as it was more cost effective than 1000grams.

I always send in slightly more than the weight of the bar I want,as some metal can be lost in assay process.

These prices are for the Birmingham assay office,they are very helpful and you can pay over the phone via your credit card.

Share this post


Link to post
Share on other sites

The total cost is as follows Dip sampling £5

Melt and Assay 1st kg(clean scrap) £38.90 (dirty mixed scrap is about £10 more)

Melt additional Kgs £3

Then 20% VAT

Also there are postage costs of around £22 there and back.

When the price of silver shot up I sent in just over 1600grams (around 50ounces) in to be melted as it was more cost effective than 1000grams.

I always send in slightly more than the weight of the bar I want,as some metal can be lost in assay process.

These prices are for the Birmingham assay office,they are very helpful and you can pay over the phone via your credit card.

Thanks - I might give them a go

I am picking up some more 'scrap'* this week; so this will be a good time to try

*engraved collectors plates!!

Share this post


Link to post
Share on other sites

Thanks - I might give them a go

I am picking up some more 'scrap'* this week; so this will be a good time to try

*engraved collectors plates!!

I should also add that they are pretty quick you should have your bar back within a week.

Please let me know how you get on.

Share this post


Link to post
Share on other sites

I should also add that they are pretty quick you should have your bar back within a week.

Please let me know how you get on.

will do - i'll phone them this week

Share this post


Link to post
Share on other sites

Why would you sell without an assay certificate I wouldn't have risked a punt at £132.

Either someone has got a real bargain or been ripped off bigtime.

I would have punted on it. Going through his feedback you can see that he has bought a lot of scrap hallmarked silver which one would guess is what he used.

I think his bars are too small to make assay worth while at 280g.

Share this post


Link to post
Share on other sites

I would have punted on it. Going through his feedback you can see that he has bought a lot of scrap hallmarked silver which one would guess is what he used.

I think his bars are too small to make assay worth while at 280g.

It was probably legit but what an expensive mistake to turn something that you could easily identify into an unmarked bar.

By the time you bought the scrap and the equipment needed to melt the silver plus paypal and ebay fees he must have lost a tidy sum.

Share this post


Link to post
Share on other sites

spoke to a guy at the birmingham assay office this week - now i have to download the relevant forms from the website and send my scrap in to be melted

they can produce bars up to 8kg, but i think i will settle for a few bars under 2kg, since Special Delivery is limited to 2kg and all of the other courier options are too expensive on the insurance side

interestingly, this un-marked scrap is up for grabs in an hour or so:

http://cgi.ebay.co.uk/ws/eBayISAPI.dll?ViewItem&item=260787811062&ssPageName=STRK:MEBIDX:IT

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.