Although I am a newbie to Silver Stackers, I have been in the Silver/Gold game since 1975. I started learning to be a Silversmith, and had a Jewellery Store at Castle Hill, NSW. Been buying and selling Silver and Gold all this time. Still got some Silver when it was $5 an ounce.
Welcome aboard the silver express marco55..You might help us understanding what happened with silver around 1980. To you intend to stack silver or do you already have a stack? Regards Errol43
I still have a lot of Silver. Most is in the form of Sterling Silver, in sheet, wire and a lot of very thick and heavy jewellery. I also still buy from Coin Shops, and ebay-mainly damaged silver scrap coins. I am currently putting together a very large lot to go to a refiner. My favourite is the 1966 50c. I still remember very well, the late 70`s and early 80`s. I did very well on the London Silver market (10,000 ounces).
Hi Marco, Welcome. When you say 10,000 oz was that a futures contract? Can you elaborate further. I have read stories of people who bought call options during silvers rise in the 80s and are now millionaires from that gamble.
Welcome Marco55. I love it when experienced members join the forum. Look forward to hearing some of your stories.
It was a 10,000 ounce future. When I started, Silver was $5.50 an ounce, in 4 days, it went up to $10.50, on which I sold. I was a poor 23 year old with an extra $45,000 in the bank, that was twice my annual income. I went out and bought a lot of Gold and Silver coins. Bought another car. Took a holiday to New Zealand, and then to Perth. Met my wife on that trip to Perth. Although, I didn`t become a millionaire, but I got a big boost. The millionaire bit came and went later. That is life. During the 70`s and 80`s, the general public was well informed and aware of Silver. My generation(I`m 55) and the previous generation were all very well aware of Australian Pre-decimal Silver and 1966 50c.
Last time I looked for a refiner they didn't want to know. Gold they were begging for, 1966 50cents they would take in any number but the 50% silver they wanted at least 100Kg before they would consider it. I am still a bit shy of that and I am happy with a chest full of coins but I am interested in knowing who you go to and how much you need to process and how much it works out to be. Care to share?
It was 2 years ago that I took Gold/Silver to be refined. That was when we lived in Sydney, and that was with ABC. I aways take gold and silver to be refined at the same time. I have read that in the US, that some refiners don`t refine 40% silver coins, only their 90% silver. With the damaged post-46 silver coins, I melt them into a large button. I then put the button into boiling Sulphuric Acid(from car batteries). I intend to get a lot more post-46 silver, and set-up an electro-stripping set-up, using 10% Nitric Acid. Thats what they use in the refiners.
