Right now, you can’t sell silver unless it is .999 or .0000 to the refiners. And dealers are paying less than spot for .999 and even less for 90% silver, if they are even buying.
I was just looking at JM Bullion. They were buying silver at $0.13 under spot. That’s the best price they’ve had in a long time.
They are paying about $10/oz over spot for gold.
“Right now, you can’t sell silver unless it is .999 or .0000 to the refiners.”
Refiners don’t buy refined silver. They SELL refined silver.
I have also heard refiners are backed-up and don’t want to take in any more. So if a dealer is buying you will be selling at a discount to the market price. Dealer would have to hold or at least package for sale. It must be crazy out there!