Hi Gang! Hope everyone has enjoyed themselves in Tucson! Here’s a
question that may be answered in the archives but I couldn’t find
it. How is the price of sterling silver derived from the Handy &
Harmon daily price quote for silver? I assume (I know, that’s
dangerous) that this quote is for fine silver. If so, would it be
fair to assume that sterling is 92.5% of the quote + the cost of the
alloy metal + some sort of fabrication costs? Or is it just easier
to price sterling and fine silvers the same? Just wondering.
Mike
The dealers I use all work from the daily spot price of silver,
whether fine or sterling. Each raw material (sheet, wire, etc.) has
its own fabrication charge that decreases with quantity. They all
work from the same basic formula:
Market Price + Fabrication Charge = Total Price per Ounce.
James in SoFl.
Hi Mike,
How is the price of sterling silver derived from the Handy & Harmon
daily price quote for silver?
Most precious metal manufacturers/suppliers list a ‘Fabrication
Charge’ in their catalogs for different sizes & shapes of metal,
casting grain, sheet, & wire of the many shapes. The ‘Fab Charge’ is
usually listed in penny weights (dwts) for gold & platinum & in
ounces for fine & sterling. To determine the cost per dwt or oz,
add the ‘Fab Charge’ to the Spot Price for the metal you’re trying
to price.
Another place the spot prices of precious metals is available is
from www.kitco.com.
Dave