.

Silver Bullion

Cling2mygunsCling2myguns Member Posts: 1,067 ✭✭✭
edited June 27 in General Discussion
Going to be offloading some silver bullion and bars to fund my upcoming building. Has anyone sold back to the online companies? Here in NE TN there aren't many options to sell locally, and the few buyers are ripoffs wanting to pay scrap prices for new condition product. I looked on GB and not much there for sale. Looking for ideas. I would be happy to sell at spot which would be a win win for both parties.

"The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants. It is it's natural manure."

Thomas Jefferson

Comments

  • William81William81 Member Posts: 20,593 ✭✭✭
    A buddy of mine buys and sells a lot of silver including bullion products.  He said the online companies where the product originated are usually not as proud of the item when it is time to sell it back.    I have seen some of the local coin shops buy for spot or slightly better when the demand is up..... 
  • Butchdog2Butchdog2 Member Posts: 697 ✭✭✭
    Be hard to sell for more than "spot" price for that day. Maybe a buck or more above.
  • truthfultruthful Member Posts: 806 ✭✭✭
    It is difficult to get the spot price when you sell. The online bullion dealers discount the spot significantly, just like they charge a premium when you buy from them. The best dealers, such as JMBullion, will list their buy-back price on their web site. If it is bullion you hold, then don't forget to factor in the cost of insured shipping to the dealer.
  • cbxjeffcbxjeff Member Posts: 14,549 ✭✭✭
    edited June 28
    I have dealt with APMEX for about 15 years but only for purchases.  They also give daily spot, sale, and buy-back prices.
    It's too late for me, save yourself.
  • bustedkneebustedknee Member Posts: 1,078 ✭✭✭
    edited June 27
    I have purchased both gold and silver... and sold both.
    When I purchased from a dealer I paid spot plus a premium (10%). 
    When time came to sell, the dealer offered me spot but again he wanted to charge me a premium (10%).  That's how they stay in business.

    Since prices had increased substantially I could have sold to him, even with his premium, and made money.

    However, a lot of people out there would like to own some gold and silver.  So, I advertised on the CL place and sold every ounce that I willing to part with, at spot!

    Win/Win!  
    The seller,(me) received spot price while paying no premium and the buyers paid spot price with no premium.






    I can't believe they misspelled "Pork and Beans!"
  • serfserf Member Posts: 7,071 ✭✭✭
     Sell it oh Flea Bay and you should do fine.They are asking for over 4.00 dollars over spot and that's for 100 ounces of bullion. The premium is way too high right now.You should make a killing if you can post it on Flea bay now.
                                                                     serf
  • victorj19victorj19 Member Posts: 3,523 ✭✭✭
    If you sell through CL, arrange to meet the buyer in a very public place like in front of a police station to avoid being ripped off.  And cash only.  
  • gruntled2gruntled2 Member Posts: 387 ✭✭
    A short time ago when the bottom dropped out of the price of silver for a short time I tried to buy some. No way could I get any for anywhere near what the spot price was. I had been buying silver & a little gold for quite some time from barf-Bay but now that they charge sales tax the price is too much. If I lived close to you I would be very interested but shipping costs would probably cost too much.
  • shootuadealshootuadeal Member Posts: 4,610 ✭✭✭

    Spot price is the medium. If you are buying normally you you are paying over. When selling to a dealer you are getting less than spot.

  • shootuadealshootuadeal Member Posts: 4,610 ✭✭✭

    PUT UP AT A PENNY START!!!

    I'll be bidding, I bet it goes over spot.


    :-)

  • Don McManusDon McManus Member Posts: 21,473 ✭✭✭

    A local coin shop offered me 6% less than spot for 100 ounce bars. Were I you, I would make a call or two if you have local outfits that are in that business.

    Freedom and a submissive populace cannot co-exist.

    Brad Steele
  • Cling2mygunsCling2myguns Member Posts: 1,067 ✭✭✭
    Local dealers in this area are trying to pay scrap or $2 under spot. I am leaning toward fleabay or CL.

    "The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants. It is it's natural manure."

    Thomas Jefferson

  • mac10mac10 Member Posts: 718 ✭✭
    trade dollar for dollar in ammo better investment right now
  • BarzilliaBarzillia Member Posts: 21,775 ✭✭✭
    Bars and bullion can carry a lesser price because of the risk of assay losses and counterfeiting.

    I don't think that I would buy any significant amount without an XRF analysis first.

    If you can easily get anywhere within 10% of spot, hopefully at current prices, you may break even. I'd like better, but it is what it is.

    And hopefully you do not incur any tax liabilities.
    "Anger has two children -.hope, and courage." Augustine, Bishop of Hippo

    "Und es wird nicht hineingehen irgend ein Gemeines und das da Greuel tut und Luge,
    sondern die geschrieben sind in dem Lebensbuch des Lammes."
  • KenK/84BravoKenK/84Bravo Member Posts: 6,044 ✭✭✭

    I hear you mac10.

    All the $$ I had available for bullion, has long been invested in my house, (long paid for) weapons, ammunition, and food. Etc. I'm covered.

    I'm ready, when everyone else gets ready/fed up with the current situation.


    Cling2myguns, sounds like an enviable position to be in. I would like to meet and have a meal at some point. Ridgewood?

    Extreme NE TN/W NC ya'll. 😁

  • Cling2mygunsCling2myguns Member Posts: 1,067 ✭✭✭

    I hear you mac10.

    All the $$ I had available for bullion, has long been invested in my house, (long paid for) weapons, ammunition, and food. Etc. I'm covered.

    I'm ready, when everyone else gets ready/fed up with the current situation.


    Cling2myguns, sounds like an enviable position to be in. I would like to meet and have a meal at some point. Ridgewood?

    We do need to meet up. Ridgewood would be great. I have been over to your area around Mountain City several times, out for drives on the Snake. Beautiful area.
    I'm set now for ammo etc, replenished what I sold to move, several months ago when prices were low.
    I would rather not part with the silver but am trying to build on my farm and so far everything has cost more than I budgeted, especially the land itself. It's surprising how much more expensive certain things are here than back in IA. Rock is one, which is ironic as it is more readily available. $500+ for 20 tons here, about $350 for 20 tons there. Electric service cost me $1500 to be run to property there, $4300 here. And I am just getting started. I just want to get back out to living in the country. Renting in Jonesborough isn't terrible but I need to be out on the land again.


    "The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants. It is it's natural manure."

    Thomas Jefferson

  • us55840us55840 Member Posts: 30,808 ✭✭✭✭
    From the TV ads of places selling silver ....their chart shows sliver dropping in price but they 'claim' you can make money if the prices goes up.
    :p  
    "This country, with its institutions, belongs to the people who inhabit it. Whenever they shall grow weary of the existing government, they can exercise their constitutional right of amending it, or exercise their revolutionary right to overthrow it." Abraham Lincoln
  • Butchdog2Butchdog2 Member Posts: 697 ✭✭✭
    Ridgewood! Did someone say Ridgewood?
  • KenK/84BravoKenK/84Bravo Member Posts: 6,044 ✭✭✭

    Don't worry Ed. If we line something up, I will give you a call.

    Extreme NE TN/W NC ya'll. 😁

  • truthfultruthful Member Posts: 806 ✭✭✭
    I've noticed the same. When the spot price drops significantly, the seller's premium goes up enough to put the cost pretty close to where it was before the drop.
  • Cling2mygunsCling2myguns Member Posts: 1,067 ✭✭✭
    Well I had a dollar cost average of $16.16 per ounce purchased over the last year. Just sold 100 ounces for $20 per ounce cash. Decent return for a short term investment.

    "The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants. It is it's natural manure."

    Thomas Jefferson

  • thunderboltthunderbolt Member Posts: 5,909 ✭✭✭
    You did good. 
  • serfserf Member Posts: 7,071 ✭✭✭
    You did good. 
      Personally I would have taken a low interest loan out before selling hard assets in the economical climate we are in.
                                                                                        serf

Sign In or Register to comment.