What happens when you actually sell? Can you recover the $8+ premium for Pandas or the $6+ premium for the Kooks? Are Perth mint bars actually more desirable for secondary market buyers then generics? I noticed one site sponsor offering up to$1 per ounce premium for Perth Mint or Pamp bars and $3.50 for coins in good condition. A local dealer advertises a buy price of about $1 under spot, no distinction for form. What can I realistically expect? Assuming I wasn't chasing the best price, but just looking for a fair price.
You could probably recoup most of the premium here,ebay, or finding a like minded person who's wanting to buy... You aren't gonna get (IMO) a fair shake selling back to a dealer or pawn shop type place.
You can always sell at (or below) spot. Anything above depends on a range of factors. (Helpful hey? ) It terms of selling at (or slightly above) spot, not many dealers offer this so always good to do your due diligence and find those that do/don't especially in your local area. If selling a bulk lot can turn out to be better to travel 300km/interstate than relying on your local (or trade through these forums, of course). As a random individual, remember that your maximum sell price is essentially capped at the (delivered) dealer prices so aim to buy anything at or below this to minimise the margin pain. As a rough guide, in terms of silver bars I would class an attractive selling price (excluding postage) to be roughly: 10 oz - Spot + $10 1/2 kg - Spot + $15 1 kg - Spot + $20 100 oz - Spot + $60 5 kg - Spot + $80 Anything at these prices should move fairly quickly through the forums (except perhaps the 5kg). Obviously you can do similar calculations with coins and gold.
Thanks bordsilver that is really helpful. Is there a similar rule of thumb for coins and rounds? i.e. Generic rounds sell for spot + $X Perth mint bullion coins spot + $X International bullion coins i.e. ASE, Maples etc spot + $x
Yes, but I haven't thought them for a while. As a basic starting point I'd go to somewhere like the Gold Stackers or Bullion Bourse websites, see what margin they have and divide it by two. Taking GS as an example, they're selling 1oz Koala's at $28.65 for one or rolls of 20 at $27.65. This is roughly $7.40 and $6.40 above spot so offers of $24.95 and $23.95, respectively should go down reasonably well (but obviously there isn't any single answer). For generic rounds I'd guess something like spot + $2-3/oz would be snapped up pretty quickly.
Supply and demand are the key. If you have bullion or coins everyone wants but cant get, you will be able to ask spot+ very nice premium. Some silver is up around $40-45/oz even at these prices and still sells with no trouble as you just cant find the piece anywhere else. I cant believe anyone would sell for under spot. The only time would be if you are desperate and need cash right then. If anyone is ever going to sell silver under spot, please contact me first and I will at least pay spot for it if I have the $ on hand. Cant believe anyone ever sells under spot, it just makes no sense to me.
I havn't sold "someone" in quite a while, is there a people spot Sorry couldn't resist and welcome!!!
Wait for the Comex position to have again increased to 30000 or 40000, and sell when spot is $25 or so. Even if the forums are cluttered with $30 talk
You can expect no-one to give a sh!t about your premiums. You will receive numerous lowball offers as if you are desperate and they will act as if they are the ones doing you a favour. Their emails will not start with a hello and I suggest that if this is the case then you tell them to get f'd for being rude. You can expect spot to drop and dealers prices to undercut yours even if your offers were originally lower. As a minimum, don't accept spot offers from the public. Dealers like Aurora will buy them for that so speak to him. Good luck. Premium bars should sell for a premium. Numismatic premiums may fluctuate. There is no general premium allocation as far as know.
SPOT rises immediately. (Sorry, couldn't resist). As others said: depends where you try to sell. Dealers: will pay you SPOT and some times premium on some selected stuff. Here: even no-names kilo bars will get some premium. As a general rule the smaller the bar/coin - the higher the premium. Semi and full-collectables - price depends on the current market mood. Stock horse anyone? Here - yes and then some if it's older years. Yes, and PAMP bars usually more desirable than Perth mint ones. That would be the last place you want to sell to. This is for uninformed/internet unsavy people. Or if you want your grog now!
Thanks everyone. I am not actually planning to sell, I just asked the question to get a better understanding of what I should buy. A lot of people say that silver is silver, buy as close to spot as you can. But if I were to accept this why would anyone buy coins vs rounds or minted bars vs cast etc. Thanks again.
