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to all the folks over the years who have purchased a silver magnet
and to the folks who have been thinking of purchasing one but are on the fence
about what this all means ..
i just heard from the manufacturer and they updated me about the refiner they refer to and their fee increase.
many of you know that only a few years ago silver was close to $46 / troy oz, now it is 1/3 of that ... about $15.94 / troy oz.
while using the magnet ( or trickle tank ) was never intended as or advertised as any sort of get rich scheme, the price of silver has dropped
and the cost to refine the silver flake has increased. ( the price to refine it means the energy to melt down the silver and purify it ).
i haven't got the specifics yet ( it is in email transit ) but i was just informed that the cost to refine have turned the magnet into more of a
" use it to lower your silver footprint and not dump it down the drain " than getting a check in the mail.
please don't read this post and take it the wrong way ... the magnet is still an effective tool to extract some of the silver from your waste stream,
and using it will increase the capacity of a trickle tank if you use one, but the cost to refine the silver has increased while the spot price of the silver has decreased.
the market for silver fluctuates, and what goes down goes up and visa versa ... and just because you have a full magnet, doesn't mean it needs to be sent to be refined right away.
it can be put aside a replacement cathode used, and then when that is full both can be sent in together, which may ofset the refining fees and make it more worth the refiners while
to turn on the furnace to refine your silver flake. from what i understand the silver used to be send in batches/lots, so it was a different situation refining 40-50 cathode with silver on them
instead of onseys and twoseys.
as you might know from emails back and forth with me or conversations here or elsewhere i don't do the hard sell,
and i have done my best to find known-refiners in canada, the us and uk/europe who were willing to take the magnet ...
and refine it, what i have relayed to you is one refiner, here in the us ... maybe this is true for many of them? maybe not ...
i know it takes a lot of energy to run a refinery ... maybe the folks in canada ( ECS ) or the folks in the folks in the uk ( JBR ),
or the countless other refiners in the us canada, eu, sa and asia will offer a better payment &c for magnet users.
i will post more as i learn more.
as always, thanks for your support and thanks for not putting your spent fixer down the drain ...
john
and to the folks who have been thinking of purchasing one but are on the fence
about what this all means ..
i just heard from the manufacturer and they updated me about the refiner they refer to and their fee increase.
many of you know that only a few years ago silver was close to $46 / troy oz, now it is 1/3 of that ... about $15.94 / troy oz.
while using the magnet ( or trickle tank ) was never intended as or advertised as any sort of get rich scheme, the price of silver has dropped
and the cost to refine the silver flake has increased. ( the price to refine it means the energy to melt down the silver and purify it ).
i haven't got the specifics yet ( it is in email transit ) but i was just informed that the cost to refine have turned the magnet into more of a
" use it to lower your silver footprint and not dump it down the drain " than getting a check in the mail.
please don't read this post and take it the wrong way ... the magnet is still an effective tool to extract some of the silver from your waste stream,
and using it will increase the capacity of a trickle tank if you use one, but the cost to refine the silver has increased while the spot price of the silver has decreased.
the market for silver fluctuates, and what goes down goes up and visa versa ... and just because you have a full magnet, doesn't mean it needs to be sent to be refined right away.
it can be put aside a replacement cathode used, and then when that is full both can be sent in together, which may ofset the refining fees and make it more worth the refiners while
to turn on the furnace to refine your silver flake. from what i understand the silver used to be send in batches/lots, so it was a different situation refining 40-50 cathode with silver on them
instead of onseys and twoseys.
as you might know from emails back and forth with me or conversations here or elsewhere i don't do the hard sell,
and i have done my best to find known-refiners in canada, the us and uk/europe who were willing to take the magnet ...
and refine it, what i have relayed to you is one refiner, here in the us ... maybe this is true for many of them? maybe not ...
i know it takes a lot of energy to run a refinery ... maybe the folks in canada ( ECS ) or the folks in the folks in the uk ( JBR ),
or the countless other refiners in the us canada, eu, sa and asia will offer a better payment &c for magnet users.
i will post more as i learn more.
as always, thanks for your support and thanks for not putting your spent fixer down the drain ...
john
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