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 Replies: 14 / Views: 1,483 |
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Pillar of the Community
United States
863 Posts |
I am interested in some of the techniques that other collectors use for buying and selling silver. I have been buying all types of sterling. What is the best way to sell it? where can you get closest to spot on the silver? If I was to send some in to APMEX what percent would I receive on the silver? I have never sold any that I have bought but am interested just in case there is a large spike I'm silver prices. I do have some junk sterling rounds that I would want to cash in on. |
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Bedrock of the Community
13014 Posts |
It depends on the type of silver but generally selling it yourself on a place like ebay will get you the highest dollar total. That said you have to take into account the fees. Selling it to an online place remember to factor in the cost of sending it to them. Depending on whats around you a local dealer may be the best bet, even if the offer is a little lower than youd get elsewhere you may end up getting more after taking into account the fees and shipping. You can try jewelry stores too. Call around a few places they should be able to say what they pay for silver over the phone since theres no numismatic value involved |
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Valued Member
United States
223 Posts |
I have no interest in selling silver on ebay even though I used to sell books for a few years. I have one shop I sell to because they offer close to spot. I actually got more than melt for some Peace dollars when silver was in the $34 range. The Peace dollars were bought for melt at one of my other shops. Two other shops that I deal with don't make strong buy offers. The thing you're going to have to realize is that some of the buyers will be drying up if we get a "spike". Nobody wants to be the guy who buys at the top of the market. Especially if you are looking to sell off a large amount. |
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Pillar of the Community
 United States
863 Posts |
That is true. if there is a spike smart buyers will be holding off.
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Pillar of the Community
United States
1903 Posts |
How much volume are you playing with? If you can hoard it up to 100+oz at a time...you might do best to sell it directly to a refiner.
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Pillar of the Community
1283 Posts |
i make bars out of sterling and get close to spot for it though there is a pretty steep learning curve with figuring out how to get the best bars. If you want to weigh it and shoot me a total i'll make you an offer on what I would pay. I am always buying siler/gold.
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Pillar of the Community
United States
863 Posts |
I can wait till I'm over 100 oz is that the amount a refiner will take ? What are the rates a refiner usually offers? Bk I was actually thinking about making some bars. Is it expensive to start? What do you do to make them. They seem pretty popular at the moment
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Pillar of the Community
Mexico
1304 Posts |
silvercoinrn, I know that I have personally posed a list of the refiners that I have found online. I dealt with one in the past and they paid nicely for a large lot of sterling I was looking to liquidate. They clearly stated that they did not have minimum volumes. I'd do a couple of quick searches on the forum for what you are looking for. (Midwest comes to mind)
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Pillar of the Community
United States
863 Posts |
Thanks harrison ill take a look.
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Pillar of the Community
United States
2335 Posts |
Over the last few years things have changed. There used to be several small refiners that could be found with a basic websearch that would deal with individuals. Almost all of them now require you to be an established business with the appropriate license. If you live in a large city there is always a gold/silver buyer that will pay within 1-2% of what you could get from a refiner & in many cases will pay the same. These are the guys that do a large enough volume to get the best price from their refiner. The trick is finding that buyer.
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Pillar of the Community
United States
863 Posts |
Maybe I should just hoard long enough to gain a decent profit and sell it on ebay. the commemorative rounds are what I'm aftaid of losing on though. I have heard that they oftan sell for less than melt on the bay. |
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Bedrock of the Community
13014 Posts |
Quote:
the commemorative rounds are what I'm aftaid of losing on though. I have heard that they oftan sell for less than melt on the bay. Usually not less than melt but a lot of times less than the mint sells them for since the 10 dollar fee isn't attached. There may be a couple that no one really likes that go less than melt but most will at least be treated as a silver round. If you have any of the civil war ones you can PM me Id help take those off your hands lol. |
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Pillar of the Community
United States
863 Posts |
No no civil war rounds. I do have a lot of the postal service series though. is there any collectors who look for these?
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Bedrock of the Community
13014 Posts |
The non mint ones will have a smaller collector base but I'm sure theres one out there. You could put one on ebay and see what happens. A lot of people make the mistake of listing a lot of the same items at once driving their own price down. The fewer listed the more people will be willing to pay as opposed to knowing they can just keep trying |
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Pillar of the Community
United States
863 Posts |
yea I never thought of that . it wouldnt be good to sell them all at once since they are not as collectable as a morgan. the collectors are limited.
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Replies: 14 / Views: 1,483 |
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Posted 10/31/2012 9:43 pm
