Hi, Silly question i am sure, but having never sold any bars yet, I need to know my "get out process" .... Basically say I had 30+ pamp kg bars. What about these concerns, any thoughts... * dealers getting wary of me, if I sell a few every week. * dealers wanting the bars assayed in some way... * dealers not wanting to buy..and having an illiquid market.... * dealers informing ato, and them they asking me all sorts of stuff etc (I am above board, but the hassle!) Do I need to give name an address etc when I sell say 5 bars to a dealer at a time?
dealers are only going to pay spot .. so better selling to people here first .. leave dealers as back up plan they seem to move very well in the recent past ... but last couple weeks has been quieter than usual if you go to dealers .. then they may have xrf machine for non destructive assaying of bar composition
* It depends on the dealers, you can always sell your bars amongst silverstackers and sell to different people (or dealers). I know that ABC Sydney don't ask alot of questions, they respect privacy pretty well. While other dealers will ask a dozen questions and ask for ID. I suggest try going to different dealers and sell a few bars at first, find out which one you feel most comfortable with and don't forget many members of silverstackers here will want to buy your bars as well just arrange a meet up. * If you bar is PAMP I don't think dealer will need to essay your bars, unless if your bars look damaged or suspicious. * This is why you need to "get out" a fair way before the bullmarket ended, when PM is still widely covetted by the mass. Don't time yourself at the very PEAK of the bullmarket especially when bull turn to bear, dealers KNOW (they've been in business for years if not decades) roughly if and when the bull turn to bear. * The best way to sell (or buy) is transact without the use of ID. That way you can stay enonymous. This is why you need to identify which dealers are more relax when it comes to ID-ing. The way I see it, there is no reason why your need to show ID to buy or sell anything (unless if u're using Credit Card), the problem is we are being conditioned by our government to accept this kind of treatment. Do you have to show ID if you're selling your second-hand mobile phone back to the store? No, why selling gold/silver is any different?
Big companies will take all the pamp, no drama's. When the silver sueeze begins, it will be on of the most liquid markets. How can you say your above bored and that your trying to fly under the tax radar in the same breath?
dont forget you can post as well as f2f with other members = dont limit your customer base by just f2f
As when anything goes into a 'bubble phase' you won't have any problem offloading silver of any size or nature. As always the sheeple come rushing in at the end and you'll be all to obliging to give them what they want all the while you gobble up the cheap asset of the time with your bubble profits.
I was born free, and surely my buying and selling my money should be free also. This is about privacy...and fundamentally freedom.
My basic question...is are 30 bars too much? where do I stop..? 60 bars? I am realizing I can't carry more than 20 bars at time..! haha... Has anyone walked into abc and said..here are 20 bars! I guess I just dont know. Very good point...i need to get out before the top...question is, will I be able to time it between 2018 and 2019 after WW4.
I've seen 150kg in 1kg bars walk into a Melbourne dealer ,with large volumes I would suggest calling ahead & letting them know
If you're worried about getting out fast buy ASX gold/silver mining shares instead - the paper's lighter...
You would never have any problem selling any number of kilo bars to pretty much any dealer, as long as you are happy to get spot. Yes - all licensed dealers must ask for ID when you are selling - even for just 1 bar. It is required under the second hand dealers trading act - just as when selling stuff to a pawn shop. This has nothing to do with the Austrac rules or the ATO.
You should have no trouble whatsoever even if you unload all 30 bars at one time. (Almost) 1.000oz of silver is no big deal. Dealer may refuse to buy, but when the bubble comes you'll be able to buy/sell silver on every corner.
All this talk of bubbles... I need a bath... but seriously... W H E N are we near the top??? sigh.....
