April 5th, 1933
Stebgo Metals Blog
A few years back some fakes of this nature appeared on the market. Some of our clients have recently notifieded us that they are seeing them again, so we did a little research and checked our files on fake silver bars that have come through the refinery over the last few years.
For the last post of this silver series I would like to briefly discuss silver bullion, as well as provide you with a case study to further examine silver coins (currency). As a refiner we have many customers that want their settlement returned in bullion, so it is natural for us to know about this subject, but we like to consult our coin dealer customers for further expertise. If you are a jeweler, precious metal aggregator or pawn broker, I suggest networking with a reputable coin dealer, which can be very profitable for both of you.
In this blog I would like to help you avoid a few common silver scrapbuying mistakes. The most common mistake my customers make is the purchase of silver plate material as sterling. This can be a costly mistake especially when you purchase a group of items such as a flatware set or a single purchase of a platter or tea set. First let’s look at the multitude of hallmark stamps that represent silver plate. I have often said that silver plate stamps are a little deceiving when they use the word silver in their name. The list below, of common silver plate hallmarks,does not represent all silver plate hallmark stamps but provides good examples of what you may encounter.
I have noticed that my precious metal scrap buying customers make the most purchasing mistakes with silver scrap. These mistakes are most likely due to the variety of different silver products and different silver jewelry and flatware manufacturing processes. When you look at all the different types of silver product and the different percentages of silver contained in them, it can seem like a daunting task to understand it all. My goal in these next three blogs is to cover much of the basics of silver scrap buying and point you towards great resources that can help educate you and help you grow your buying business.