Silver Scrap

[ValerieTyler]

For some reason I can't get in the chat thread right now. I remember a bit of chat about the best places to send silver scrap. A few suggestions other than Rio were given that gave a greater rate back. Can anyone share those links or contacts again?

Yikes silver prices...might as well get the best rate back though for scrap.

[MichellesEnamels]

This is where I have started turning in my scrap silver and gold. NTR metals have several locations around the country that you can actually just take in and get paid that day. I found that their cash payment was way higher then Rio Grande's credit. In my case recently about $500 higher. They also have a sister company that sells sheet silver and such in which they'll give you an extra 7% credit for that purchase if you choose to go that route. I went for the cash because they don't carry fine silver sheet which I need for my enamels.

http://www.ntrmetals.com/

[JazznJewelry]

I think IJS in Gallup, NM gives back better prices than Rio, if you trade for credit. Their credit can be used for anything they sell, but Rio has a better selection of just about everything. I guess it depends on if you just mostly use casting grain, stock sheet and wire as to whether Rio or IJS will be the better for you.

[PangaeaDesigns]

I send my scrap to midwestrefineries.com. They pay 90% of spot price.

Yikes, $47.65 today. I keep telling myself that at least all those mistakes I made a few months ago are probably worth about what I paid for the silver!

[Former_Member]

I know Monsterslayer.com takes it. they give you a better deal if you take it in store credit, but I have never used them. In fact, I gotta get on that GIANT pile of scrap!

[ValerieTyler]

Thanks! Now I can go research one. I figured might as well make the most of the high prices and at least get something out of it. I've been saving some of my scrap for so long I know some of it had to be bought around $18 or so!

[Former_Member]

Here is a list I put together of some places:
http://www.jewelryartistsnetwork.com/index/2010/09/02/794/

its available as a download at the end.

[MichellesEnamels]

NTR paid me 98%.

[JazznJewelry]

Wow! I'm going to have to check out some of these places!

[Former_Member]

Per NTR - they pay 98% spot on Gold and 90% on silver, platinum, and palladium. The interesting thing with them is that you can call in and lock in at the spot price the day you call.

[MichellesEnamels]

Something I meant to ask NTR was if I called and locked in my price what if the price goes up. Oh and it was gold that I turned in. Sometimes people will give me gold to offset their cost.

[Former_Member]

That's a good question!

[Former_Member]

Ok, it seems locking in really does lock in - its a verbal agreement that both parties enter into.....but you can also pool your metal there and cash out later (if I am understanding correctly). I suggest speaking to a rep for anyone interested - they aren't the highest payout for silver but the offer some nice services/arrangements.

[Former_Member]

re: NTR---you said they have several places around the country--do you have to take it or you can send it in after you lock in the price?
dang, I only get 75% credit at rio grande--I would LOVE 90%!!!!!!!!!!!

[MichellesEnamels]

You can send it in. They also take gold-filled. I think you send it to their Dallas office. You have to apply for an account which is no problem and sign a no terrorist agreement which is a breeze.