Amid a sharp decline in silver prices from a January high of over $120 per ounce to around $82, individuals are selling silver heirlooms in significant volumes, overwhelming refiners. This selling frenzy, targeting items like silver coins and family treasures, is filling shops like King Gold & Pawn and Empire Gold Buyers with customers eager to take advantage of the recent price surge. Major refiners such as Heraeus Precious Metals are facing extended processing delays due to the increased scrap influx, with orders now taking months to fulfill. This situation is compounded by Google search trends showing a surge in interest from individuals looking to sell their silver possessions during the price rally.
Surge in silver sales floods refineries, Heraeus faces unprecedented backlog
