selling silver
 

I have yet to sell any silver. I'm told by a number of people that I'll get 85% of spot for junk stuff, like comemmoratives, off name stuff, plated silver eagles, etc....98% to spot for stuff like engelhard, sunshines, eagles, mapleleafs. Have you guys found this to be true?

The coin shops keep trying to push the junk stuff on me and I keep picking the good stuff out of the box...they usually don't bring out the better stuff until I get ready to leave with a hand full of cash. They do want about .50 to a 1.00 more for the better stuff.

I paid 18.25 a piece a few days ago for 1 oz. mapleleafs, SAE, sunshine rounds, englehard bars. Spot was 17.25.

Re: selling silver
 

same here.....christmas rounds are always the first to get offered to me....i dont think so

Re: selling silver
 

You should be able to get spot + .10 for the prospectors and spot -.30 for the other rounds from most dealers. I got $23-24 for prospectors on ebay selling in 100 round lots. Those larger auctions tend to attract serious buyers.

Re: selling silver
 

Try finding a decent coin shop. Eagles, maples, and engelhards should sell over spot. 90% silver should sell at around .50$ under spot an ounce.
I am not sure about off brand stuff, but am unsure why you would buy it anyway if the spread is so large.

If you are that hard up for a coin shop, then sell back to APMEX or list the stuff on ebay.

Re: selling silver
 

You paid a fair price for your silver and You are right you DONT want all that wacky stuff in your stash......unless you are certain that a major swing to the upside is coming and it is the last of the last of the last ( the multi color eagles come to mind)..... they were trying to clearout the garbage inventory and was trying to play you for a fool .

You have good strong solid habits and I commend you on taking action...... keep buying.


T

Re: selling silver
 

Oh yeah ........


Welcome to GIM .........you are among good friends



T

Re: selling silver
 

Thanks for the welcome and the info!!!

Re: selling silver
 

After reading several comments like this, can we finally agree that the "silver is silver" argument is bunk? If it was all the same, it would all be priced the same. Or else you would be willing to buy the "garbage" at these reduced prices. You'd think at some point they would dish it off to the refiners.

Re: selling silver
 

if christmas rounds are one ounce .999 silver rounds, why not buy them?
Who cares what xmas crap is stamped on them...silver is silver, as long as the content of silver is same as any other one ounce round. Are christmas rounds notorious as being fakes? I don't understand. I mean I would prefer other rounds, but if christmas rounds are offered at a good price, why not grab them?

Re: selling silver
 

Why do the dealers want a premium for sae, maples, etc? They always bring the christmas stuff out in a box first. I'm told they pay more for the name stuff. Selling I don't know...buying, I've seen enough already in a short time to say they want more for name stuff. It seems to play into the idea that if the economy ever gets very bad people will fake everything so you will want something that is at least recognizable. At a 100.00 an ounce we'll probably see lots of fakes.

Re: selling silver
 

Outside of 90% do not buy ugly. Buy clean name brand stuff. You'll get more when you sell.

Re: selling silver
 

So I should try to trade up (down, depending on point of view) my xmas rounds to more recognizable coins....

I would take a small loss, but more security in the end?

Thanks for advice...

Re: selling silver
 

I went thru the 1980's silver rush and when dealers set up shop in hotel/motel rooms they paid a price for .999, 90% and Sterling, they did not care if it was pretty or was a name brand Mint's product, my Uncle had a 500oz assayed bar and he got paid the .999 price. Same for gold, one price for oz of 24k,18,14,or 10 didn't matter shape or condition it was going to go to the refiner. Now if you plan on selling on E-Bay or other means then condition and type is a big concern, I guess it depends on your reason for buying and your exit strategy, which everyone should have!

Firenhole

Re: selling silver
 

Exactly. If you plan to hold until the frenzy really takes hold, it won't matter the form as long as it's accepted.

On the other hand, if you plan to take profits at short-to-medium term peaks and re-buy at the valleys then you'll want a more widely desirable form.

Re: selling silver
 

I will agree with that .........if you are quick enough to sell in the stampede than you you little to worry about ........( I own a few of those giant 1 pound eagles that I will dump at the peak)


after the rush.......all the 'top notch stuff' (SAE Maple, Kooks, Rands) will be commanding a sweet premium. IMO



T