Jack Hunt Customer Updates

UPDATE AS OF JUNE 1st

JHCB Resumes Purchase of Silver Scrap Staring June 1st

Because we have a monthly processing limit, silver scrap purchases will be capped until our available capacity is reached.

Purchasing Limits – For first week of June each customers can sell JHCB a maximum of 300 gross troy oz.

• This limit is intended to give as many customers as possible an opportunity to move material.
• If additional capacity remains, we may extend the 300 gross troy oz. weekly limit for the week of June 8th.
• If capacity remains the week of June 15th we may remove the cap and continue purchasing until our monthly limit is reached.
• Once our monthly limit is reached, silver scrap purchasing will pause until July 1.

Silver Scrap Rates

Current silver scrap rates are also available at: jackhunt.com/buy-scrap

Rates are based on the actual scale weight of your material, except for silver melts. Unless noted, there is no melt loss and no assay fees.

Items Purchased by Melt Only:

• Unmarked, peeled, or questionable sterling
• Sterling jewelry with stones or heavy non-silver material
• Other lower-grade or mixed silver material requiring assay

Silver Melt Terms – Silver melts must meet the following requirements:

• Minimum purity: 80%
• Minimum lot size: 100 gross troy ounces
• Purchase formula: After-Melt Weight × Assay × .91
• Melt charge: $0.75 per gross incoming ounce

Material assaying under 80% may be rejected.

Items We Are Not Buying – Currently JHCB is unable to purchase the following:

• U.S. 40% silver
• Canadian 50% silver
• War nickels
• Filled material
• Knife handles

Turnaround Times and Advances

• Standard turnaround time is 1–2 business days after arrival.
• Silver melts may take 3–5 business days.
• Advances for eligible customers will remain at 75%

Thomas Dzielski, CPA
Director of Wholesale Operations