So does this process work for other coins that may have additional additives beyond copper such as nickel, tin, and other alloys or metals?
As well what are some other coins that are suited very well for this process? I am wondering about coinage easily attainable in North America that is
cheaper than face value, i.e. american and canadian coins?
Dummies Guide to EASY silver bullion refining at home as a long term precious metal investment , page 8
reply posted on 20-2-2012 @ 08:57 AM by Afterthought
reply to post by tauristercus
I may have missed the answer to the question about what you do with the remaining chemical mixture.
If you've already replied and I missed the answer, I'm sure it wouldn't hurt to post it again seeing as I don't want to do anything that would contaminate the environment.
So, how do you dispose of the acid when you're done with it?
Thanks in advance.
I may have missed the answer to the question about what you do with the remaining chemical mixture.
If you've already replied and I missed the answer, I'm sure it wouldn't hurt to post it again seeing as I don't want to do anything that would contaminate the environment.
So, how do you dispose of the acid when you're done with it?
Thanks in advance.
reply posted on 20-2-2012 @ 09:24 AM by Kingofthehill
Can someone please explain to me where i've gone wrong with this calculation, it just doesn't seem right.
The OP bought a half kilo bag of coins for $20 AUS dollars. This translates to 13.53 GBP with an exchange rate of 0.676373.
The coins in the half kilo bag the coins are 50% silver. So there is approximately 250g of silver in the bag. Essentially the OP bought 250g of silver for £13.5...
Well according to this website: www.gold-traders.co.uk... silver is worth roughly 0.58p for fine silver at about 99.9%.
So 250g x 0.58p = 145. Surely the OP cannot have made £145 from £13?!
I have to have gone wrong somewhere and the fact i can't see where i've gone wrong is making me feel like an idiot.
Anybody?!
The OP bought a half kilo bag of coins for $20 AUS dollars. This translates to 13.53 GBP with an exchange rate of 0.676373.
The coins in the half kilo bag the coins are 50% silver. So there is approximately 250g of silver in the bag. Essentially the OP bought 250g of silver for £13.5...
Well according to this website: www.gold-traders.co.uk... silver is worth roughly 0.58p for fine silver at about 99.9%.
So 250g x 0.58p = 145. Surely the OP cannot have made £145 from £13?!
I have to have gone wrong somewhere and the fact i can't see where i've gone wrong is making me feel like an idiot.
Anybody?!
reply posted on 20-2-2012 @ 10:43 AM by Extralien
reply to post by Kingofthehill
You're not too far wrong.. I haven't checked how right you are though, but you're not far off exact.
Check here;
silver price per kilo
You will see silver is currently (at time of posting) 679.53 GBP per kilo.
So, had he bought two kilos of coins and extracted the half the silver from them, then he would have 679.53 GBP of silver sat on his table.
I have an 85 gramme silver bracelet and took it to city centre jewelers this morning for an estimate on high street scrap buying... I was offered 14 GBP for it.
If it was to be melted down and sold to a bullion dealer, then the price would be significantly different, less bullion dealers cut.
Effectively, I could double my monwey on the bracelet if it was in a purer state, so to speak.
The only problem is finding someone to buy your new silver.. It seems bullion dealers are the way to go, but you either need enough of the stuff or a regular supply for some of them to take an interest.. not only that but your silver/gold has to be good.. For example, they might give you less cash if the silver has to be refined further..
Apparently there is a chemical colouring scale to test for purity of metals.. which I'll be looking up shortly, and this scale defines purity..
You're not too far wrong.. I haven't checked how right you are though, but you're not far off exact.
Check here;
silver price per kilo
You will see silver is currently (at time of posting) 679.53 GBP per kilo.
So, had he bought two kilos of coins and extracted the half the silver from them, then he would have 679.53 GBP of silver sat on his table.
I have an 85 gramme silver bracelet and took it to city centre jewelers this morning for an estimate on high street scrap buying... I was offered 14 GBP for it.
If it was to be melted down and sold to a bullion dealer, then the price would be significantly different, less bullion dealers cut.
Effectively, I could double my monwey on the bracelet if it was in a purer state, so to speak.
The only problem is finding someone to buy your new silver.. It seems bullion dealers are the way to go, but you either need enough of the stuff or a regular supply for some of them to take an interest.. not only that but your silver/gold has to be good.. For example, they might give you less cash if the silver has to be refined further..
Apparently there is a chemical colouring scale to test for purity of metals.. which I'll be looking up shortly, and this scale defines purity..
reply posted on 20-2-2012 @ 10:44 AM by Extralien
reply to post by hanyak69
If i'm correct, the amount of silver used in photographic film would be minimal.. along the lines of an item that has been silver plated.. the layer of silver would be thinner than wafer thin and you'd need a heck of a load of film in order to extract any amount of silver from it.
If i'm correct, the amount of silver used in photographic film would be minimal.. along the lines of an item that has been silver plated.. the layer of silver would be thinner than wafer thin and you'd need a heck of a load of film in order to extract any amount of silver from it.
reply posted on 20-2-2012 @ 11:01 AM by old_god
reply to post by tauristercus
Dude, if I ordered those items and tried this at home, I would end up in Guantanamo Zoo
Dude, if I ordered those items and tried this at home, I would end up in Guantanamo Zoo
reply posted on 20-2-2012 @ 11:17 AM by Extralien
I mentioned above about the chemical test ...
Here is a very nice little site to visit that will give you a really good, quick guide to what's involved..
They also provide a few prices for equipment and stuff.. from the chemicals themselves to the 15,000 GBP handheld testers
www.quicktest.co.uk...
Here is a very nice little site to visit that will give you a really good, quick guide to what's involved..
They also provide a few prices for equipment and stuff.. from the chemicals themselves to the 15,000 GBP handheld testers
www.quicktest.co.uk...
reply posted on 20-2-2012 @ 11:52 AM by Kingofthehill
reply to post by Extralien
Using the price per kilo to work out the price per gram from that link, it works out to 0.68126 per gram. which is better than the other site offered, but the other site is working to make a profit.
So this means that using this whole process to extract the silver and then sell it off is extremely profitable.
I wouldn't know of any buyers to sell the bullions/buttons to around where i live, but there are plenty of websites (like the one i previously linked) that you can post to and they'll post you back money.
What i want to know is, why isn't everyone doing this?!
This makes me think that we have to have gone wrong somewhere because it's a simply process that produces a lot of money...
Using the price per kilo to work out the price per gram from that link, it works out to 0.68126 per gram. which is better than the other site offered, but the other site is working to make a profit.
So this means that using this whole process to extract the silver and then sell it off is extremely profitable.
I wouldn't know of any buyers to sell the bullions/buttons to around where i live, but there are plenty of websites (like the one i previously linked) that you can post to and they'll post you back money.
What i want to know is, why isn't everyone doing this?!
This makes me think that we have to have gone wrong somewhere because it's a simply process that produces a lot of money...
reply posted on 20-2-2012 @ 12:05 PM by LightSpeedDriver
reply to post by Kingofthehill
I must admit since reading this thread I've been doing a little searching here and there.
In answer to your question the problem appears to be getting access to enough reasonably priced scrap that there is any profit left to do the scrapping. From what I can see 15 euros an ounce seems to be about the going rate for scrapped silver. Some people are asking more than 15 euros for 30 grams of scrap. Even if I don't count my time, it still won't leave any money over for me. Unless I'm missing something fundamental...
I must admit since reading this thread I've been doing a little searching here and there.
In answer to your question the problem appears to be getting access to enough reasonably priced scrap that there is any profit left to do the scrapping. From what I can see 15 euros an ounce seems to be about the going rate for scrapped silver. Some people are asking more than 15 euros for 30 grams of scrap. Even if I don't count my time, it still won't leave any money over for me. Unless I'm missing something fundamental...
edit on 20/2/12 by LightSpeedDriver because: Typo
edit on 20/2/12 by LightSpeedDriver because: Typo
reply posted on 20-2-2012 @ 12:18 PM by Kingofthehill
reply to post by LightSpeedDriver
So we can establish that the process is cost effective, IF one is able to find the items containing silver in the first place in bulk for cheap.
I've done a quick ebay search, and you're right, it is very hard to find coins with a good silver content for a good price. When i do the calculations the money made seems to work out at the same price of the coins price.
So, maybe like the OP said, we would just need to look out for good deals.
Regardless, the knowledge is useful, and if one was ever to come across old coins for free or at an auction etc, this would be a very useful way to make money from them.
So we can establish that the process is cost effective, IF one is able to find the items containing silver in the first place in bulk for cheap.
I've done a quick ebay search, and you're right, it is very hard to find coins with a good silver content for a good price. When i do the calculations the money made seems to work out at the same price of the coins price.
So, maybe like the OP said, we would just need to look out for good deals.
Regardless, the knowledge is useful, and if one was ever to come across old coins for free or at an auction etc, this would be a very useful way to make money from them.
reply posted on 20-2-2012 @ 01:15 PM by Afterthought
reply to post by Scope and a Beam
Check this out and see if you can get one from this site.
www.nextag.com...
Here's another site:
www.harborfreight.com...
Check this out and see if you can get one from this site.
www.nextag.com...
Here's another site:
www.harborfreight.com...
edit on 20-2-2012 by Afterthought because: (no reason given)
reply posted on 20-2-2012 @ 03:54 PM by Extralien
With regards to getting your bullion sold, be careful who you choose to smelt all your buttons of silver..
There is a company on ebay in the UK that charges 100 GBP per kilo
www.ebay.co.uk...
But then you still need to get the bar 'assayed'... in other words, hallmarked...
Cut out the middle man and check out the price list from the goldsmiths company in london..
They smelt silver up to 9kg for 30 GBP...
www.thegoldsmiths.co.uk...
Then of course they test your metal and hallmark accordingly
Ata price, of course.. but very possibly cheaper than elsewhere..
There is a company on ebay in the UK that charges 100 GBP per kilo
www.ebay.co.uk...
But then you still need to get the bar 'assayed'... in other words, hallmarked...
Cut out the middle man and check out the price list from the goldsmiths company in london..
They smelt silver up to 9kg for 30 GBP...
www.thegoldsmiths.co.uk...
Then of course they test your metal and hallmark accordingly
Ata price, of course.. but very possibly cheaper than elsewhere..
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