Silver refiners have stopped accepting new metal for melting after the price hit $50 an ounce, creating a backlog. If you're trying to sell sterling flatware or other estate silver, you could face months of delays or rejection. The speaker will update as the situation changes.
Silver refiners are actually turning people away. I've never seen this before as long as I've been in business. So what happened was on Friday, silver broke the $50 mark per ounce. So that sounds like a good thing, but I guess that refiners are so backed up with all the silver that people are selling that they are trying to catch up. So in the process, they might not be letting people sell silver to them. For possibly months. It's hard to say, but I'll keep you updated and let you know anything I hear. But as of now, if you're trying to melt a family's estate, something like sterling flatware or things like that, I'm not sure what the buyers are going to be paying or if they will be buying at all. Please subscribe so you don't miss any future videos.
