The 2025 Silver Refinery Pause: What Investors and Dealers Need to Know
Introduction In October 2025, a major disruption hit the silver market as leading U.S. precious metals refineries paused purchases of silver bullion, especially junk silver (90% silver coins) and sterling silver scrap. This pause—triggered by skyrocketing silver lease rates and severe refining backlogs—has sent ripples throughout the entire precious metals market, affecting dealers, sovereign mints,…
