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Nickelless
1000+ Penny Miser Member
USA
1343 Posts |
 Posted - 08/20/2008 : 22:08:04
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I just got this reply from a post I made on Craigslist:
quote:
i have some 925 some sterling and a large amount of silver that i melted off a 100 year old victorian lamp 2 of them i have salt and pepper shakers spoons dishes nuggets small shakers hollow all total about 2 -2 1/2 pounds this is for real i am not pulling any ones chains i scrap for a living so i know what i have and what i need to do to make sure it is real i have a test kit.
I've never tested silver before and would much prefer pieces that are clearly marked as sterling. This guy is asking $11 an ounce. Should I take this offer?
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Why hyperinflation is inevitable...and very soon:
http://www.shadowstats.com/article/292
http://www.ChrisMartenson.com |
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TenBears
Penny Hoarding Member
873 Posts |
Posted - 08/20/2008 : 22:21:33
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| Personally, I would shy away from this deal only because I would not be receiving any assurance of what I received. This silver is not marked as you say. To me, unmarked is not worth much until and if you could get it assayed. And, on that point, I haven't a clue as to where one goes to get bullion assayed. I think HoardCopper, Deal and maybe a couple of other of our members have dealt in scrap type metals. Maybe they will have a more enlightened answer for you. |
"Rich," the Old Man said dreamily, "is not baying after what you can't have. Rich is having the time to do what you want to do. Rich is a little whiskey to drink and some food to eat and a roof over your head and a fish pole and a boat and a gun and a dollar for a box of shells. Rich is not owing any money to anybody, and not spending what you haven't got." Robert Ruark
there are too wild Indians...
there are too wild Indians...
there are too wild Indians...-----still taunted
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legacypac
Administrator
Canada
1653 Posts |
Posted - 08/20/2008 : 22:24:17
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| Says he has a test kit... Maybe compare to what you can get from a smelter. Might be worth a look anyway but be careful. |
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Neckro
Penny Collector Member
USA
315 Posts |
Posted - 08/21/2008 : 00:23:34
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| Test kit can get bogus. Since it only tests the certain area and not the entire piece. If it's just plated, it will test positive. Only go for pieces that are stamped/marked Known until you become every well known in it. Like if I test Silver plated copper wire, it will get a positive reaction, but then after I clean the area, the Copper shines right through. |
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Nickelless
1000+ Penny Miser Member
USA
1343 Posts |
Posted - 08/21/2008 : 03:52:45
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| I just sent the guy an e-mail telling him to send me photos of all the pieces that are clearly marked as sterling and to give me a total weight on all the pieces and I would pay him via Paypal. That way I'd at least have Paypal protection if the guy tries to screw me over. |
Why hyperinflation is inevitable...and very soon:
http://www.shadowstats.com/article/292
http://www.ChrisMartenson.com |
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Neckro
Penny Collector Member
USA
315 Posts |
Posted - 08/21/2008 : 04:12:39
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| Make sure you know the hallmarks. =D |
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Nickelless
1000+ Penny Miser Member
USA
1343 Posts |
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NotABigDeal
1000+ Penny Miser Member
USA
1848 Posts |
Posted - 08/21/2008 : 06:14:45
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Hmmm.... Not sure. Definately look at the pictures, (post 'em!). Sounds kinda risky. Why would a man who scraps for a living need to offload any scrap online? $11 per ounce for a "maybe", when silver is very affordable at around $13.50. Plus, whenever someone doesn't use any punctuation it always makes me feel leary. Unless the pictures show some new information, I would pass my friend....
Deal
p.s. 2.5 troy pounds? Oh yeah, correction, I guess the guy used a period at the end of his super-sentence. |
I'm so sick over pennies....I frequently trade a dime or two for the whole "take-a-penny" container if sufficient coppers exist. That will get you some odd looks. |
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Bluegill
Penny Collector Member
USA
441 Posts |
Posted - 08/21/2008 : 08:10:19
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I had to read that gibberish 3 times to figure out what he(she) was saying. That alone sends up red flags...
"this is for real i am not pulling any ones chains" I just don't get that warm fuzzy feeling.
As Deal mentioned, why would a scrapper be responding to a Craigslist ad...
Proceed with extreme caution.
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“I’m fully diversified. I’ve got some under the mattress, some under the floor boards, some in the backyard.”
"Give me control over a nation's money supply, and I care not who makes its laws." – Anselm Rothschild
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kavajava
Penny Collector Member
USA
487 Posts |
Posted - 08/21/2008 : 10:45:37
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| Pass on this one....please. |
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horgad
1000+ Penny Miser Member
USA
1349 Posts |
Posted - 08/21/2008 : 12:12:22
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Midwestrefiners is paying 88% of spot for sterling or about $12.12 a Troy ounce less your shipping and insurance costs for recovered silver. So that is what the silver is worth assuming the deal 100% legit.
Also, the you mentioned pounds and ounces in your post. So did you figure 11 an ounce for Troy or not? That could make a huge difference.
Also if the guy is such an expert on scrap metals, he should know about Midwestrefiners and/or other refiners. So why is he selling on craigslist?
Also is $11 dollars an ounce for the silver content of for the sterling. If for the sterling, you are talking Spot * .925 * .88 = $11.25 an ounce. So he is only 25 cents under the sell price for sterling assuming Troy ounces.
Seems like it is too much risk... |
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Delawhere Jack
Penny Hoarding Member
USA
515 Posts |
Posted - 08/21/2008 : 17:36:17
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Or... Maybe he's recently come to realize that melting the stuff down was a bad move, making it more difficult for him to unload. And now he's trying to unload it to someone else rather than having to pay to have it assayed himself.....?
"Be reluctant to attribute to malice that which may be adequately
explained by stupidity." Source unknown.
My vote, pass.
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"Money is the barometer of a society's virtue. When you see that trading is done, not by consent, but by compulsion...when you see that in order to produce, you need to obtain permission from men who produce nothing...when you see your laws don't protect you against them, but protect them against you...when you see corruption being rewarded and honesty becoming a self-sacrifice...you may know that your society is doomed."
Ayn Rand, from Atlas Shrugged
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Neckro
Penny Collector Member
USA
315 Posts |
Posted - 08/21/2008 : 17:50:39
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| Take it off his hands for free. >D That's an awesome purchase price! |
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daviscfad
Penny Pincher Member
192 Posts |
Posted - 08/22/2008 : 11:34:50
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I dunno it seems like if he was trying to rip you off it would be for more than 11 dollars
Pictures will help though. |
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NotABigDeal
1000+ Penny Miser Member
USA
1848 Posts |
Posted - 08/22/2008 : 17:15:12
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11 dollars an ounce times 12 or 16 does matter. Substantial rip off.
Deal |
I'm so sick over pennies....I frequently trade a dime or two for the whole "take-a-penny" container if sufficient coppers exist. That will get you some odd looks. |
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pencilvanian
1000+ Penny Miser Member
2034 Posts |
Posted - 08/22/2008 : 18:28:42
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Something smells fishy as to this offer for the following reasons-
1) This Craigslist seller could go on ebay or to an ebay seller and sell the sterling for a better price.
2) This Craigslist seller could, has has been mentioned by other forum members, sell to a refiner, a buyer of Precious Metals, etc.
3) Instead of melting the silver off of the lamps this Craigslist seller could have recieved much more by selling the Victorian Lamps intact. Do you suppose that this guy has never heard of an antiques dealer or the Antiques Roadshow? (How long has Antiques Roadshow been on the air anyway?)
Something just does not seem right about this deal. Me, myself and I would pass on this deal. |
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Nickelless
1000+ Penny Miser Member
USA
1343 Posts |
Posted - 08/22/2008 : 19:22:14
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quote:
Originally posted by pencilvanian
Something smells fishy as to this offer for the following reasons-
1) This Craigslist seller could go on ebay or to an ebay seller and sell the sterling for a better price.
2) This Craigslist seller could, has has been mentioned by other forum members, sell to a refiner, a buyer of Precious Metals, etc.
3) Instead of melting the silver off of the lamps this Craigslist seller could have recieved much more by selling the Victorian Lamps intact. Do you suppose that this guy has never heard of an antiques dealer or the Antiques Roadshow? (How long has Antiques Roadshow been on the air anyway?)
Something just does not seem right about this deal. Me, myself and I would pass on this deal.
This guy wasn't a seller--I posted a listing as a buyer. I don't know that this guy had posted these items for sale before now. I'm guessing he's just pretty clueless about antique values or sales venues. |
Why hyperinflation is inevitable...and very soon:
http://www.shadowstats.com/article/292
http://www.ChrisMartenson.com |
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NotABigDeal
1000+ Penny Miser Member
USA
1848 Posts |
Posted - 08/22/2008 : 20:19:33
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I love Antique Roadshow. Shhh, don't tell, I have a reputation to uphold.
Deal
p.s. Twelve years. That is how long it's been around I think. |
I'm so sick over pennies....I frequently trade a dime or two for the whole "take-a-penny" container if sufficient coppers exist. That will get you some odd looks. |
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pencilvanian
1000+ Penny Miser Member
2034 Posts |
Posted - 08/23/2008 : 09:29:55
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It could be that you are dealing with a clueless seller, Nickelless, though some con artists decieve their victims by pretending to be clueless or dumber than their vicitms.
If you are willing to go through with this deal, I would suggest that you buy 5 ounces at a time from this seller and have it tested each time to make sure it is silver, or ask if the seller would agree to have the silver tested by an uninterested third party, with the arguement that some silver is sterling (925 or 92.5%) some is coin silver (900 or 90%) some is 800 silver (80%)
etc., just to keep everything honest and above board. An honest seller would agree to the test, a dishonest one would back out of the deal. |
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Should I take this deal?
