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Post by toiv0 on Jan 16, 2016 14:56:24 GMT -5
I was asked to repost what I wrote to another thread and will do it here. If anyone else has anything to add or change feel free. I believe where everyone buys their silver and findings will help out a lot of people. Thanks
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.
Read more: forum.rocktumblinghobby.com/thread/73480/silver?page=1#ixzz3xRH9reFV
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metalsmith
Cave Dweller
Member since October 2012
Posts: 1,537
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Post by metalsmith on Jan 16, 2016 16:38:29 GMT -5
I posted this in the link referred as above. Sorry for the duplication, my mistake, but it is better here, I feel. 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. Read more: forum.rocktumblinghobby.com/thread/73480/silver?page=1#ixzz3xRhIQgP6
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