how do they purified and extracted silver and how much does it cost?

Answer 1

There are a variety of very technical processes used by refiners to reclaim silver from scrap and other sources.

Most refiners have a program which scrap silver and other sources of silver which need "purifiying" and reclaiming can be processed and the submitter of the silver is reimbursed.

In general, there are two ways that the submitter of the silver is reimbursed--cash or product exchange. Normally, the reimbursement value is greater if the submitter takes like-product in exchange than if he takes a straight cash payment. For example, I normally send my scrap silver in for refining and take silver casting grain in exchange.

Today's market close for silver is about $12.70/troy ounce. Understand that refining costs for the silver you want "purified" will be deducted from this price prior to any reimbursement is made.

You might want to look at David H. Fell & Co's site to check out their refining services.