Oops! My Reader Did It Again, with Silver That Is
I couldn’t resist using the Britney Spears’ song title adjusted a little bit for this post’s title. I guess I’m in a funny, musical mood today. Make no mistake about it – My Reader Did It Again in a Fantastic Way! He found more precious metal jewelry and sent me the picture to share.
This time he visited a flea market and struck a silver streak (say that 5 times fast, it’s a real tongue twister). He bought these 10 cute silver charms for twenty buckaroos. That is $2 a charm. Try buying that in a jewelry store. I think not…
As he was examining the charms, he expected to see a 925 mark indicating sterling silver. Instead, he read the number 800. What did I just write, 800? Yep, that is exactly what I typed, no typos today. He remembered the section about marks from other countries in the “Cheap Gold and Silver” book. The 800 indicates an 80% silver purity. Some countries use this purity for their items. While it isn’t called sterling silver, it is still SILVER. Make sure you keep your eyes open for the silver purities, not just 925.
It turns out; the charms are heavy and all together contain over a troy ounce of silver. This is while the silver spot price was $32 a troy ounce. I’d say it was a great bargain! Plus, if he wanted he could sell each charm for more than $2 each and easily make money. Shoot, he could sell them for $10 each and make $100, which is an $80 profit. Or he has 10 great gifts to give away and save himself some serious money. No one will know they only cost $2 each.
That is a HUGE SCORE in my book!!! Don’t forget this lesson, I’m happy my reader didn’t forget it. Now he owns these cute silver charms. Way to go…
Good Luck and Happy Hunting,
Author of ”Cheap Gold and Silver”