Erich
spending too much on rocks
Member since November 2015
Posts: 411
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Silver
Jan 15, 2016 20:06:51 GMT -5
Post by Erich on Jan 15, 2016 20:06:51 GMT -5
My wife is starting to fool around with metal smithing, mostly copper but thinking about using sterling silver. Looking at the prices for silver wire or flats, we realized they were asking crazy prices. Since we have a rolling mill we looked into buying silver bullion in 1 ounce bars and rounds. Dirt cheap compared to Jewelry supply shops.
Anyway thought we'd share the idea if by some chance no one had thought of it before.
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Silver
Jan 15, 2016 20:22:59 GMT -5
Post by Drummond Island Rocks on Jan 15, 2016 20:22:59 GMT -5
Someone in the "metal smithing" section might be able to help with that one but I have not heard of anyone trying it. I do know a few folks that post in that area have mills. forum.rocktumblinghobby.com/board/26/metalsChuck
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Post by toiv0 on Jan 16, 2016 3:03:35 GMT -5
Bullion is usually .999 fine silver and not sterling. Fine silver is softer and not really suitable for the wear and tear of jewelry. Spot tonight is 14 dollars troy oz., sheet silver and wire runs about about 3.00 plus over spot if you buy 10 oz. I have a friend who buys casting grain makes his own ingots and rolls it out. Casting grain runs about 1.50 over spot. Some people save their scrap and process it back into usable sheet or wire. If your rolling mill is an ecomomy model it will not hold up very long to rolling out a lot of sheet and wire from ingots. An option is to buy in just a couple of sizes and roll out what size you need. Lets say 16 ga sheet and wire. That way you can make your 10 oz for the best price break and you can size it as you need it. Good luck, its a big step to jump from copper to silver, especially when it goes to 40 dollars per oz.
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micellular
has rocks in the head
Rock fever is curable with more rocks.
Member since September 2015
Posts: 640
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Silver
Jan 16, 2016 12:16:21 GMT -5
Post by micellular on Jan 16, 2016 12:16:21 GMT -5
toiv0, thanks for the tips. That's very useful info. Could you cross-post that to the MetalSmithing forum?
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Don
Cave Dweller
He wants you too, Malachi.
Member since December 2009
Posts: 2,616
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Post by Don on Jan 16, 2016 13:15:29 GMT -5
I'd rather pay the extra $3/oz and get the milled stock that I need.
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Silver
Jan 16, 2016 13:38:50 GMT -5
Post by rockjunquie on Jan 16, 2016 13:38:50 GMT -5
I'm with Don. Spend the xtra on sheet and then recycle your scraps or use for melting for ornamentation balls and what not.
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Erich
spending too much on rocks
Member since November 2015
Posts: 411
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Silver
Jan 16, 2016 14:23:56 GMT -5
Post by Erich on Jan 16, 2016 14:23:56 GMT -5
ToivO,thanks for the reply. Where do you buy your sheets and wire, Don and others? We are obviously looking in the wrong places as prices were way over $3 above spot. But then, hey , we know nothing yet we're noobs.
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Silver
Jan 16, 2016 14:52:35 GMT -5
Post by toiv0 on Jan 16, 2016 14:52:35 GMT -5
ToivO,thanks for the reply. Where do you buy your sheets and wire, Don and others? We are obviously looking in the wrong places as prices were way over $3 above spot. But then, hey , we know nothing yet we're noobs. I buy from rio grande jewelers supply in Albuquerque NM, they have the largest jewelers supply in the world I think but if I am out west sometimes I stop at Thunderbird supply or Indian jewelers supply...but these last two have gone down hill the last few years. There are a lot of other places to shop around that I have never bought from. remember you have to buy a certain amount to get the best price.
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metalsmith
Cave Dweller
Member since October 2012
Posts: 1,537
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Silver
Jan 16, 2016 16:36:12 GMT -5
Post by metalsmith on Jan 16, 2016 16:36:12 GMT -5
In sterling silver sheet, 1kg weight is roughly equivalent to 963mm x 100mm x 1mm.
In the UK, for ~1kg sheet as above, One of the popular suppliers is currently charging £531 per kg: approx £607 (~US$958)after tax. The spot price is currently £315 per kg: approx £378 (~US$539)after tax. Sterling grain price is currently £368 per kg: approx £441 (~US$629)after tax.
Investment grade FINE silver bullion bar is Euro432 per kg: approx E515 (~USD562) after tax
Rolling out 1kg of sheet therefore 'costs' around US$400 Needless to say, I'm saving up for a rolling mill! It would soon pay for itself.
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Don
Cave Dweller
He wants you too, Malachi.
Member since December 2009
Posts: 2,616
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Post by Don on Jan 16, 2016 18:23:04 GMT -5
I can get a 6" x 12" sheet of 20 gauge sterling from Rio Grande for $17.15/ounce, that's just $3.15/ounce more than spot and it's already milled and ready to go. even if I could get 13 ounces of bullion at spot price, I'm only saving $35 bucks. Then I have to alloy it down to sterling and mill it out on my $1200 rolling mill and will probably end up with an inferior product when it's all said and done. You would have to do an enormous amount of silver to make the savings pay off. This is the same problem I have with folks who tell you that you're dumb for not recycling your own scrap instead of cashing it in for 85% scrap and getting new...by the time you've invested in the equipment to refine your own scrap, you've far out spent any savings until you're about 20 years into it.
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Erich
spending too much on rocks
Member since November 2015
Posts: 411
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Silver
Jan 17, 2016 8:59:37 GMT -5
Post by Erich on Jan 17, 2016 8:59:37 GMT -5
Thanks for the advice on where to purchase, and you make absolute sense Don. So, we are now inadvertent silver bullion collectors - we bought low, Go Silver!
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