| Author |
 Replies: 15 / Views: 2,346 |
|
|
Valued Member
United States
477 Posts |
I'm just wondering what you guys recommend I haven't sold any from my stack yet but might soon. I'm looking to buy as close to spot as possible silver maybe 100 onces and then wait until I can make some profit even if it's only less than a dollar an ounce profit and then sell and repeat to generate some revenue. Any recommendations of where I could sell?
|
|
|
|
Valued Member
United States
83 Posts |
APMEX has been good for the very few coins I have bought/sold, though try your LCS first.
|
|
Pillar of the Community
United States
4333 Posts |
Like suggested, get a quote from a mail-order metals shop. You will be hit on shipping charges, and usually paid below spot.
My LCS will buy, but several dollars below spot.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
|
|
Valued Member
Australia
208 Posts |
I have sold to my LCS, and to APMEX, they are convenient and not bad choices, but I have done the best selling on Craigslist. You can sell to the collector who is not a pro, and get a bit more. I have sold a total of about $60 face value of US 90% silver coins at 125% of melt. Always meeting in a public place, and not huge deals - $100 to $400 at a time. Edited by Misterpostman
04/11/2016 09:11 am
|
|
Valued Member
United States
70 Posts |
Why not just buy silver futures? You always buy at spot and always sell at spot. Transaction fees will be way less than premiums and selling on 100 ounces.
|
|
Pillar of the Community
United States
606 Posts |
Agree with Bnmakr1, Yup gave me confidence a while ago to move a pretty large percentage of a retirement fund to a PM mutual fund. It's moved so much in a positive direction that I am already thinking about getting out (chicken little). However, most of my physical stuff is still underwater (unless I sell on ebay) even though my LCS pays like 15 cents over spot for bullion. I'm still convinced that paper is best for investing and physical best for a hobby, a hobby that could actually provide some nice returns in the medium to long term. The one plus, at least for me, is that money in the hobby is off the table and forgotten about. Otherwise, my kids would just buy more justin beiber tickets. Yuck! |
|
Rest in Peace
United States
17900 Posts |
You might want to consider selling here. No fees, other than mailing, and you can tell who you are working with most of the time.
|
|
Valued Member
 United States
477 Posts |
Most LCS pay 88% - 90% spot?
|
|
Valued Member
United States
477 Posts |
How do you go about paying paper silver?
|
|
Valued Member
United States
477 Posts |
Have you guys ever sold your PM to online dealers? I know somebody mentioned APMEX. I know that APMEX doesn't normally buy less than 10k less of metal but heard that they will do. They still pay same rate if it's less than 10k? I'm kind of uneasy mail's several thousands of dollars of metal through the mail. Anyone have experience doing it? |
|
Valued Member
United States
124 Posts |
Don't do it greenprint. APMEX can just say that they didn't receive anything and don't send you a check. What if it get lost in the mail APMEX won't help it will be your lost. I'm uneasy about sending coins with out getting paid first. If something go wrong what are you gonna do? Who to contact, APMEX won't help you out. Edited by alvaro77
04/24/2016 10:39 pm
|
|
Valued Member
Canada
117 Posts |
alvaro77 is right! LCS is the best choice for selling large quantity.
If you want to deal with individual, meet him/her inside a bank (or other safe places).
|
|
Valued Member
United States
477 Posts |
alvaro are you talking from experience =(?
|
|
Pillar of the Community
United States
4333 Posts |
Quote:Don't do it greenprint. APMEX can just say that they didn't receive anything and don't send you a check. What if it get lost in the mail APMEX won't help it will be your lost. I'm uneasy about sending coins with out getting paid first. If something go wrong what are you gonna do? Who to contact, APMEX won't help you out. Simple. Always insure your shipment for it's full value. That way, you're covered for any loss. When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
|
|
Valued Member
United States
61 Posts |
Quote:Alvaro said: Don't do it greenprint. APMEX can just say that they didn't receive anything and don't send you a check. What if it get lost in the mail You can get tracking from the PO when you mail package and you will know where your package is and know the moment it is received by the dealer or person you sent it to. |
|
Pillar of the Community
United States
1026 Posts |
You can ship using registered mail - by far the safest means of shipping something from A to B. APMEX are a good choice, but they only buy what they want, just like all dealers. It doesn't hurt contacting online dealers such as MCM, GainesvilleCoins, ProvidentMetals as well. JMB don't buy anything though. The issue with paper is that if those who have paper demand their paper value in physical PM it will lead to a collapse of the market as there are way more PM traded as paper than actually exist in physical form. If you like paper trading, then you are better off having PMs as part of your portfolio, but generally not more than 5-10%. Remember that PM mutual funds or ETFs don't generate any income like dividends. |
| |
Replies: 15 / Views: 2,346 |
|
Posted 04/11/2016 06:02 am
