Thu 28 Feb 2008
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At this price, $14/oz is suddenly looking OK. I do hope that the market calms down after a while. Luckily, I don’t have any urgent need for restocking silver at the moment, but I will be running out in a couple months for sure. The only regret I have is that I cannot take advantage of the ever growing silver scrap pile of mine — it’s at over 20 oz at this point — which surely will be lucrative to sell. If I were in the US, I’d be cashing this in with grim satisfaction. In Korea, cashing scrap silver is more complicated, as refineries will not accept bits of silver wire. Well, my parents’ stash of silver spoon and chopstick sets is looking awfully tempting now. :-)
This is the bid graph for today. Ouch!
8 Responses to “Silver Price… Insanity!”
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February 29th, 2008 at 9:09 am
Well, ouch! My stash is only at 8oz, so I’ve got nothing on ya. Maybe you should just send your stash to an American friend and have them cash it in for you. :)
March 3rd, 2008 at 11:24 am
… Aaaand it did. Yar. It’s at $20.40 today.
Naturally, I have been thinking about ways to smuggle my stash out to the US all day, as Yazmin suggested! :-) At this price, there’s plenty of incentive.
March 23rd, 2008 at 10:37 pm
I was thinking just what Yazmin said! :)
These prices are going to kill us! I just checked and the prices has come down to just below $17.00, but still, that’s a far cry from last summer when it was $12.00 and long way from your $4.00. Between the metals prices and the oil prices, I don’t know what we’re going to do. Going to have to sell our silver and gold just to buy gas!!
March 25th, 2008 at 12:50 pm
It’s all so scary. Here in London, people are wanting their jewellery for less because everything else has gone up for them! Don’t they realise we have to buy everything that they buy, on top of our materials?! I’ve lived up a mountain without electricity and made jewellery by candlelight before - and I can’t say I’m planning on doing it again! xx
April 16th, 2008 at 1:37 am
It’s getting pretty brutal, for sure. And I don’t think the general (non-jewelry-making) public’s even remotely aware of what’s going on in silver right now. They just know they want their jewelry for the same prices they were paying a few years ago. :-(
May 4th, 2008 at 11:20 am
Hey! I saw that Vicarous Rising had “another” Rae on her blog roll and thought I’d check out your site. I love your creations!
Rae
May 28th, 2008 at 3:13 pm
Hi Rae,
I realise that this is a reply to a moan of yours that is now a few months old, but…
I was in a suppliers in Hatton Garden (jewellery district in London, where I live), and was talking to the guy about selling lemmel (scrap bits of siver), and he said they buy it all…I then told him your story and situation in Korea. He then said that they buy scrap from all over the world, all the time, (including itsy bits of wire…)
You send your scrap to them and they send you a cheque. If you think your stash is too heavy, then send it in two lots and they will deal with it!
I found out later that they are one of the very few companies in the world who do this…
Anyway, he told me to tell you to contact them. Their name and address is:
J.Blundell & Sons, 16 Hatton wall, London EC1N 8JH, email is rafael@blundell.co.uk, and phone number +44 207 404 0744. Hope this info is of use - and good luck!! Ellen x
July 21st, 2008 at 9:25 am
Hi Ellen,
A very belated thanks for the wonderful info…! Thank you so much, it surprises me that this company will accept scrap silver from all over the world. The information will come in handy next time I find myself crushed under the weight of my scrap silver stash. During my recent trip to the states (will blog about this in a moment), I was able to unload my stash at good-old Hagstoz and Sons, Inc., in Jewelers’ Row, Philadelphia. It felt good, although by that time around the silver price was down to $17. :-) Thanks again, and hope the information will benefit everyone who reads my blog too!