| Author |
 Replies: 20 / Views: 3,114 |
Page 2 of 2
|
|
|
|
Valued Member
 United States
58 Posts |
Quote:
all depends on what you can do with the money. biggfredd what do you mean? Thanks for the help everyone |
|
Pillar of the Community
United States
1391 Posts |
I think biggfredd means that if you sell all your silver when it hits $75 an oz. and then go and buy a bunch of Pixie Sticks and Mt. Dew with all the earnings, you would be better off holding on to the silver even if it drops to $4 an oz. the next day. In senario one you just flush the suger away. In senario two you still have all your oz. of silver, even if you missed a good chance of converting the silver into dollars. So if you don't have a good reason to sell other than, "Wow, look at the price!" (e.g. no plan for it), then you might not be making any money at all.
Atleast that is what I got from the train of thought through the posts.
Myself, I would just take it into one of the local coins shops that I trust. I may also try sell some of it privately.
|
|
Valued Member
United States
421 Posts |
I would probably sell some of and pick up some key date coppers that I need.
|
|
Pillar of the Community
United States
3077 Posts |
i am with ya spaghetti my roosies would be turned into a 09S VDB mind it would only be G4 but it would match my set
|
|
Bedrock of the Community
United States
14454 Posts |
if I was going to sell and only had 200 ounces I would probably just call around to everyone I could find locally that buys silver and take it to the highest bidder and unload it there. That way you wouldn't have to worry about the price falling while the silver is being shipped and you have your money as soon as the silver leaves your hand. But if I only had 200 ounces I really doubt I would ever sell over 50 ounces at one time and sit on the rest, even if it fell 5 dollars the next week I just wouldn't like the idea of not having other holdings of silver in my portfolio
|
|
Pillar of the Community
United States
4008 Posts |
If you are selling, it is all about the price and any shipping cost to you. Call around and get bids on what various on-line and local silver buyers will pay for what you have. Most of the on-line vendors will buy silver and gold. They often have a minimum amount requirement, though, so be sure to check and see if the amount you are selling qualifies. Most of them mention this in their FAQ list. IIRC this is somewhere around $2000 worth but it can be different at different vendors.
If you end up shipping your silver, be sure to use US Post Office insured priority mail. It is reasonable in price and work well.
|
|
Pillar of the Community
Canada
1733 Posts |
I just negotiate the final price with my bank , they send the bars down to Toronto to be authenticated for larger deposits and then the money is in my account, two business days max, locked in price the minute I accept. Any amount, 100's of kilos if I want, biggest dump I made on them was 30 kilos though. Business manager would poop herself if I did a couple hundred kilos I bet.
|
|
Valued Member
United States
67 Posts |
I'm fairly new to this, does US banks purchase silver bullion? Ugly - do you use an international bank or one that is only in Canada? I haven't heard of this before. Thanks.
|
|
Valued Member
United States
58 Posts |
Has anyone used Midwest refineries?
|
|
Rest in Peace
United States
9104 Posts |
Most US banks do not handle bullion.
|
|
Pillar of the Community
United States
4008 Posts |
Quote:
Most US banks do not handle bullion. Right... and the ones that do usually do so in multi-ton quantities for very large customers. |
|
Pillar of the Community
Canada
1733 Posts |
Terrib I use Scotia Bank, they have a large Bullion division. I am not aware of any US bank that does, having said that, I'd check around because I know that some US banks DO HAVE bullion counters.
I wouldn't think of this route for less than a couple hundred ounces of silver, five or so of gold.
|
|
Valued Member
United States
67 Posts |
I did a google search and Scotia was the only bank that came up. I don't have enough gold or silver to worry about using that option. I hadn't heard of it. Who knows though....maybe someday I'll have a nice stash of both. :)
|
|
Pillar of the Community
United States
931 Posts |
Sivertowne is reliable, honest, and fair. I have only sold once to them at $1900, and the check came back prompltly.
|
|
Pillar of the Community
1283 Posts |
|
|
Page 2 of 2
|
Replies: 20 / Views: 3,114 |
Page 2 of 2
|
First Page
Posted 01/23/2012 2:32 pm
