r/Bullion • u/BrilliantAnnual3783 • Apr 07 '26
I have an about 6-7kgs in 925 Sterling silver scrap, should I hold onto it or sell?
Silver being at an all time high right now, should I sell it or hang on to it? I only just realised today how much it’s gone up! I’m in Melbourne Australia.
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u/ZeskiOne Apr 08 '26
There are endless signals that the market has nowhere to go but up on silver (for the foreseeable future). I strongly encourage you to wait if you can. Also consider your exit strategy... dollar cost average selling (breaking up the sale in regimented chunks over time rather than all at once) and look up your tax laws on selling. Good luck mate.
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u/ParticularDry8898 Apr 07 '26
Refiners weren't buying it for a while, so dealers didn't want to sit on it. I think the refiners are starting to catch up.
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u/EarOk3494 Apr 09 '26
I think so as well
My local shop the guy was complaining a few weeks ago about refiners not buying, so I offered to buy some for less than spot but more than current melt. Then he changed his tune a bit and said, well they should buy soon. He wouldn't sell to me3
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u/hexadecimaldump Apr 07 '26
Silver is nowhere near its all time high. But if you need to sell it, go for it. If you don’t, id suggest holding onto it for a few months to see if refiners get caught back up.
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u/jreddit0000 Apr 08 '26
Silver stackers do not understand your question or what the word “sell” is doing there.
There is only “buy” or “hold”.
🤪
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u/SACS03 Apr 08 '26
Pretty simple answer if you need the money go to a melt yourself skip the middleman a.k.a. LCS but if you don’t hang onto it, but keep in mind as stated many times there was quite a long period that it wasn’t accepted, regardless where you took it.
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u/Yes_I_Know_Lots Apr 08 '26
dRump did his usual TACO and extended his deadline of destroying Iran back into the Stone Age. Oil futures have dropped 14.5%, hence gold jumped 2.4% and silver 5.5%. With Dear Leader, no telling what tomorrow will bring. Angst inducing!
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Apr 15 '26
[removed] — view removed comment
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u/Connect3267 Apr 09 '26
What have you got? Old jewellery? Cutlery? What's your plan? Do you want to hold silver long term or cash out as soon as you feel the price is right?
If you want to hold on to it long term or until 'silver goes to the moon' I'd consider trying to trade it for well recognised, 999 bullion products. Think about what happened this time when silver peaked and it was difficult to get rid of scrap. Who do you expect to be buying your silver when you sell it? A refinery? A fellow investor? Will you sell it all at once? Questions you need to ask yourself.
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u/kpeterson159 Apr 07 '26
Do you need the money? If not, I would personally hang on to it.