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Questions About Selling 90% Silver

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Author Previous TopicReplies: 12 / Views: 1,410Next Topic  
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Connor's Avatar
United States
2130 Posts
 Posted 02/29/2012  08:16 am Show Profile   Bookmark this topic Add Connor to your friends list Get a Link to this Message Number of Subscribers
I have been thinking about selling some of my 90% Silver for a while now and with the prices rising I think now may be a good time. I have several rolls of 90% silver and was wondering what was the best way to market them. Would I get better prices if I sold them by the roll, or maybe in lots of 5 coins, or maybe you guys have some better suggestions. Any thoughts or recommendations?
Pillar of the Community
Canada
1723 Posts
 Posted 02/29/2012  08:35 am  Show Profile   Bookmark this reply Add samsnate to your friends list Get a Link to this Reply
I can tell you that watching them sell on ebay, the price per coin isn't really changing regardless of sold 60 quarters at a time or 5 at a time. I dont sell 90% silver but this is all I know about the subject in regards to selling. You might know this already but if you didnt...ya do now! CHEERS!
Pillar of the Community
United States
759 Posts
 Posted 02/29/2012  09:55 am  Show Profile   Bookmark this reply Add OneBowl to your friends list Get a Link to this Reply
If you're talking ebay, I think you have a shot at maximizing your return by selling singles, but not by much as samsnate mentions and it is definitely a lot of work. A lot of work.

If I were to do the same, I'd list here first in 5-10 coin lots since I've haven't seen many full roll listings fly off the shelves. At 97% of spot, I believe they would sell quickly here and you'd come away with the same net or more than ebay for less trouble. My math is based on the following example: say a Franklin sells on ebay for $14.50 and after fees you're at about $12.77 net. Melt is $13.39 with silver at $37.01. 97% of melt is a cent under $13.00, so you'd be ahead a bit. Plus, the coins would find good homes and I'd even be interested if any Franklins are in the mix. Of course, ebay is a wild card. You could get $17.00 for some of them, who knows. Perhaps the first question to answer is are you willing to embark on the ebay gamble and hassle if it could mean an extra $50 to you (or whatever that number may be but it may be in the ballpark for 3 rolls).
Valued Member
War Nickel's Avatar
United States
172 Posts
 Posted 02/29/2012  10:04 am  Show Profile   Bookmark this reply Add War Nickel to your friends list Get a Link to this Reply
There is a coin shop in California I know of that would sell "dirty silver" at spot, and buy at bid per graysheet...
I know here in the Peoples Republic of NY that when silver was $17 or $18 and oz, they would only offer $10 per OZ...

So, I think a good coin shop might be your best bet with the least hassle...if you can find one! I would call around and find one that follow the bid and ask system...
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Connor's Avatar
United States
2130 Posts
 Posted 02/29/2012  10:31 am  Show Profile   Bookmark this reply Add Connor to your friends list Get a Link to this Reply
I am interested in listing some silver in the Pocket it Now section here with CCF. How exactly do I add a picture? It says enter an URL with the image. Exactly what are they talking about here?
Pillar of the Community
United States
759 Posts
 Posted 02/29/2012  11:29 am  Show Profile   Bookmark this reply Add OneBowl to your friends list Get a Link to this Reply
Connor,
I can't help with the technical aspects, but if it is your typical 90%, pictures aren't a requirement. Basic text descriptions usually suffice. Of course, pictures are better, but if I read no slicks, F+, no holes, etc., I'd still be interested (and I think my standards may be higher than your typical bullion buyer because my interest in Franklins is for my son's set we're trying to put together). Good luck!
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Ed_B's Avatar
United States
4008 Posts
 Posted 03/01/2012  11:25 pm  Show Profile   Bookmark this reply Add Ed_B to your friends list Get a Link to this Reply
I suggest selling your coins here on CCF and by the roll. A picture would be great as well. Can't say how to do that but I am sure that this is posted somewhere on this site. If not, then a moderator should be willing to help explain the proper method for posting any for sale pics you might want to include in your ads. I prefer XF, AU, BU, and proof coins. If you have any of these for close to spot, I would be interested in buying some.
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coinwatch's Avatar
United States
808 Posts
 Posted 03/01/2012  11:40 pm  Show Profile   Bookmark this reply Add coinwatch to your friends list Get a Link to this Reply
Connor, in case you don't have it, here's a link to the Coin Community tutorial for uploading & posting images.


Quote:
How exactly do I add a picture? It says enter an URL with the image. Exactly what are they talking about here?


You may add a URL to your post that points back to a photo that you've uploaded to a service like photobucket or flickr. Again, the tutorial covers the process fairly well. Hope this helps.
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mkfarm's Avatar
United States
667 Posts
 Posted 03/01/2012  11:42 pm  Show Profile   Bookmark this reply Add mkfarm to your friends list Get a Link to this Reply
Hard question that depends on who you are selling too.

I buy at spot price any 90% that I find. A dealer will pay far less no matter how you package it. They have to because they are in the reselling business. Then some even members here will take advantage on 90% if they can.

So there you have my spin.

My recommendation - try selling here because I really think there are more non dealers who would give you current spot price. Thought I have seen some ebay sells go even higher than spot.
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coinwatch's Avatar
United States
808 Posts
 Posted 03/01/2012  11:45 pm  Show Profile   Bookmark this reply Add coinwatch to your friends list Get a Link to this Reply
Since we're talking about buying and selling 90% silver, what about local coin shows? Do you think someone could get a better deal buying or selling at one of these events?
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Ed_B's Avatar
United States
4008 Posts
 Posted 03/02/2012  6:38 pm  Show Profile   Bookmark this reply Add Ed_B to your friends list Get a Link to this Reply

Quote:
Do you think someone could get a better deal buying or selling at one of these events?

That would certainly be worth a try. At worst, you don't get an acceptable offer and have to keep looking for potential buyers who will pay a little more.

Another possible option, especially at coin shows, would be a trade for other coins, rounds, or bars that you might want more than you want your 90% coins. I haven't been to any coin shows yet, although I sure would like to go sometime. I have been to a few gun shows where there were some coins for sale. There seemed to be quite a lot of trading going on there, both for coins and for guns, and even combos of those at times. I kept an eye peeled for any kind of a deal that looked good to me but did not see any. Most of the prices were similar to what can be found on-line, even with a little added on for shipping. Perhaps next time will be better.
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trout1105's Avatar
Australia
7096 Posts
 Posted 03/02/2012  6:52 pm  Show Profile   Bookmark this reply Add trout1105 to your friends list Get a Link to this Reply
If you are having trouble posting pic's just put a list of what you have in the trading section on this site.
I have a heap of gaps in my US collection and no doubt there are many others as well.
If you are selling at spot I recon you could get rid of heaps of them right here
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Silverhawk74's Avatar
United States
3670 Posts
 Posted 03/02/2012  8:50 pm  Show Profile   Bookmark this reply Add Silverhawk74 to your friends list Get a Link to this Reply
EARLIEST I would even think about selling 90% is at 40 an oz., and later on I would probably be kicking myself for not selling at 50.....
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