isurulers Asked: Undecided Question: Where can you melt junk silver into silver bars? I know it can be done but came up empty on my resea
I'm not interested in melting the silver myself which is why I would like a mint (like SilverTowne for example- who makes Silvertowne Bars) to do it AND THEN convert it into Silver Bars. I called them today but they are closed to see if I can get any answers. In the meantime, I thought I would ask our follow smart people on Yahoo Answers
And by the way, I'm not interested in melting it into silver coins as I don't want to get into trouble with the government thinking I'm making a currency out of it. Silver Bullion Bars are not "official" US Currency (unless its the Silver Eagle Currency).
These companies don't take your silver and turn it into bars for you. They buy your silver at their prices, and then sell you silver bars, at their prices.Your silver goes into bars that are sold to somebody else. It's a large-scale operation.There is no room in this business for refining small batches for individuals.
Silver follows three basic steps:
3) Minting into coins, bars, rounds, etc.
If you are recycling silver, it starts the process at step 2.
US Silver coins are 90% pure (40% for 1965-1969 Kennedy halves). Silverware or silver jewelry is lower purity. The impurities have to be removed via the refining process.
Don't bother looking for a factory where you hand in silver at one end and get bars at the other end. It does not exist. That is not how the industry works.
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