So refine yours yourself and sell it on the spot market.Originally Posted by Marco BTo be honest, I have seldom seen a more deceiving and ridiculous statement than this on APUG. I would qualify it as spam.Hello Analog Users,
First off, Thank you for choosing Environmental Control Systems to be a part of your group. We are a 40+ year old Silver Recovery and Waste Disposal Company located throughout Canada with the Head Office in Barrie Ontario. As John Nanian mentioned we have established an agreement to Refine the silver from your Silver Magnet Cathodes with NO shipping Costs! Payment will be 10X the current Silver Price Per Pound less an $85 Refining Fee for Canadian Members.
As an Example: if you provided us 5lbs of silver and the price of silver was 18USD we would pay you $180 per pound for 5lbs = $900. Subtract the $85 refining fee leaves a payment to you in the amount of $815!
1 lbs = +/-454 gram
1 troy ounce = +/- 31 gram
Thus 1 lbs = 454/31 = +/- 15 troy ounce!
The ECS company, in a ridiculous calculation, only pays you "10x the price of 1 troy ounce of silver for each pound of silver", while 1 lbs or pound of silver is actually worth 15x times the price of 1 troy ounce of silver, as it is 15x times more silver based on the weight.
This means this company is making a 50% profit on the bought silver, and even has the guts to charge you $85 refining costs. Now the 50% profit may be a "normal" profit in the branch, but to hide it by some ridiculously difficult calculation, is just deceit.
By the way, current silver price = +/ $30,- per troy ounce (half a year ago still around $18,-), or almost $0.9 to $1 per gram, see graph for trend of the last year.