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Best Places To Sell Silver

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john1942sept's Avatar
United States
286 Posts
 Posted 08/16/2013  11:07 am Show Profile   Bookmark this topic Add john1942sept to your friends list Get a Link to this Message Number of Subscribers
I am trying to determine the best places to sell silver coins. First nation wide. Second in Texas. Any experience appreciated.

Thanks!
Valued Member
JJHFL's Avatar
United States
395 Posts
 Posted 08/16/2013  11:13 am  Show Profile   Bookmark this reply Add JJHFL to your friends list Get a Link to this Reply
Common Date Silver? Junk silver? Bullion? Any rare? ebay is doing fairly well with silver at the moment, however factoring in fees, shipping, time, etc., you may want to stop at your Local Coin Shop and see what they are paying.
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woodcr's Avatar
United States
403 Posts
 Posted 08/16/2013  11:39 am  Show Profile   Bookmark this reply Add woodcr to your friends list Get a Link to this Reply
I usually do alright selling to Gainesville coins
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john1942sept's Avatar
United States
286 Posts
 Posted 08/16/2013  11:45 am  Show Profile   Bookmark this reply Add john1942sept to your friends list Get a Link to this Reply
It really a range. Coins taken out circulation 70 years ago. Some are such good condition to be valuable, some key dates, some common coinage, and then some purely juke. I've talked to the Northwest Territorial Mint and they say they would take any bulk silver at good prices, but 1) I don't know anything about them and 2) I don't want to ship them. I would like to find a place locally or at least in Austin, Dallas, or Houston that I can work with. Heritage in Dallas may be a place for some, but none are graded and few are really that valuable. There are many worth 600 times face down to 24 times face. More worth no more than silver.
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john1942sept's Avatar
United States
286 Posts
 Posted 08/16/2013  11:48 am  Show Profile   Bookmark this reply Add john1942sept to your friends list Get a Link to this Reply
Woodcr: I usually do alright selling to Gainesville coins

That's in Florida?
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Russ789's Avatar
United States
623 Posts
 Posted 08/16/2013  11:48 am  Show Profile   Bookmark this reply Add Russ789 to your friends list Get a Link to this Reply
John...are you in Texas? I am in Dallas and can get you taken care of. Please PM me.
Valued Member
john1942sept's Avatar
United States
286 Posts
 Posted 08/16/2013  11:58 am  Show Profile   Bookmark this reply Add john1942sept to your friends list Get a Link to this Reply
I've heard that you can list 50 items/per month on e-bay without a charge. How does that work? I watched several on e-bay. Many key dates were listed for fair prices and never sold. If I paid 10% of the final value listing and didn't sell that would be a bad approach. Also, I have bought off e-bay, but only when I could get a bargain. Many go low when auctioned. I would be glad to sell most of them at 10% below book or something similar.
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basebal21's Avatar
13014 Posts
 Posted 08/16/2013  12:04 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
Woodcr: I usually do alright selling to Gainesville coins


Google National Gold Exchange, its the exact same company with a different name. I wouldnt do any business with them.

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Fat Freddy's Avatar
United States
1200 Posts
 Posted 08/16/2013  12:05 pm  Show Profile   Bookmark this reply Add Fat Freddy to your friends list Get a Link to this Reply
1---"The best place to sell silver" is like Camelot, Shangri-La, Valhalla, Nirvana, Paradise, etc -- Everybody's looking for it, but hardly anybody ever finds it.
2---It depends (as said above) largely on what you're trying to sell. If you're selling what's "hot" in the present market, the world will beat a path to your door.
If you're trying to sell what nobody wants, you've got some real problems. It also depends on your pricing--reasonable pricing makes for quicker, easier sales.
3---In terms of specific possible places to sell...
Online vendors = Not high prices, but you can call their 800 tel# and find out what the drill is.
ebay = good for a lot of people, but abundant problems, grief, hassles and fees. If you treat your buyer perfectly, they can still lie and give you headaches.
LCS = quick easy sale, but bottom dollar for your silver (hopefully, but maybe less than that if a "less than totally scrupulous" LCS gives you a beating).
Shows = who knows/hard to tell/total crapshoot. Depends on the vendor you're dealing with.
Private sales = if you know who you're dealing with, a good option. Buyers can be found through online forums, local coin clubs, etc.
CraigsList = IMO, the express route to getting beaten, stabbed or shot, robbed and waking up in a hospital ER. Only for those who are far more daring than me.
If you have to use CL, make sure you have good health and life insurance that are paid up-to-date.

Whatever you do---best of luck with it!
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JJHFL's Avatar
United States
395 Posts
 Posted 08/16/2013  12:08 pm  Show Profile   Bookmark this reply Add JJHFL to your friends list Get a Link to this Reply
As far as ebay, each month they give you the 50 free listings. when you list it shows that it is free. It also keeps track of how many used/remaining for the month on your "my ebay" page. May be a good route for some of the coins.
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john1942sept's Avatar
United States
286 Posts
 Posted 08/16/2013  1:32 pm  Show Profile   Bookmark this reply Add john1942sept to your friends list Get a Link to this Reply
Fat Freddy: Each of those are interesting. I know I showed a few coins to a local dealer. He would pay silver for MS coins. He was buying silver at spot but only if it was really something he could sell for much more. I guess that better than 80%. E-bay, I know my experience - when silver was much lower, I could find it on e-bay occasionally for less than spot. I visited a recent coin show - the only sales I saw were children buying (one seller did have his son going from dealer to dealer looking for things listed too low).
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fistfulladirt's Avatar
United States
4333 Posts
 Posted 08/16/2013  1:43 pm  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
I've heard of good craigslist deals, and of people meeting up in the cop shop. You can do that?
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Fat Freddy's Avatar
United States
1200 Posts
 Posted 08/16/2013  2:03 pm  Show Profile   Bookmark this reply Add Fat Freddy to your friends list Get a Link to this Reply
FFD---Yeah, I guess doing a deal on in the lobby or parking lot of the local cop shop might be OK... depending on the PD's reputation (ha,ha).

Also -- I forgot to say one thing about shows... The size of the show also impacts on your chance of success. You have a much better chance at shows with
>50 vendors than you have at shows with <25 vendors. The bigger the show (IMO), the better your chances at successfully selling.

On LCS's... My LCS buys generic silver bullion @ $1 under spot and ASE's for anywhere from $1 over spot (mint condition) to $1 under spot (crap condition).
Those are pretty standard buy price levels in my area. Proofs are different and go on an individual coin basis.
Valued Member
JSH's Avatar
United States
410 Posts
 Posted 08/16/2013  2:49 pm  Show Profile   Bookmark this reply Add JSH to your friends list Get a Link to this Reply

Quote:
I've heard that you can list 50 items/per month on e-bay without a charge. How does that work? I watched several on e-bay. Many key dates were listed for fair prices and never sold. If I paid 10% of the final value listing and didn't sell that would be a bad approach. Also, I have bought off e-bay, but only when I could get a bargain. Many go low when auctioned. I would be glad to sell most of them at 10% below book or something similar.


ebay will let you list 50 items per month without setting up a store. There is no fee if your item doesn't sell. If it does sell they charge a flat fee of 10% on the TOTAL transaction (sale price + shipping). You have to complete ebay sales through Paypal which charges 2.9% + $0.30 on the TOTAL transaction (You pay 2.9% on the original total not total minus ebay fee) So selling through ebay will cost roughly 13%, more if you sell low cost items where the $0.30 minimum Paypal fee kills you.

I have sold silver coins twice, both times to Gainesvile Coins. Both transactions went smoothly and I was happy with the sale price (99% of spot for modern proofs / 95% for junk silver)



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john1942sept's Avatar
United States
286 Posts
 Posted 08/16/2013  5:10 pm  Show Profile   Bookmark this reply Add john1942sept to your friends list Get a Link to this Reply
Has anyone ever sold to Northwest Territorial Mint?

Also, what are your experiences with Heritage? I talked to them and they wanted me to bring in what I had before really explaining their charges?
Valued Member
john1942sept's Avatar
United States
286 Posts
 Posted 08/16/2013  5:36 pm  Show Profile   Bookmark this reply Add john1942sept to your friends list Get a Link to this Reply
JSH: Did Gainsville base the price paid on weight (I have rolls that show substantial wear) or coin value? I have talked to some here that do both. Did they take really junk silver - embedded dirt, stained, etc.
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