I needed some money qick, and was disappointed I have nowhere to sell it for the decent price in my country (Bosnia, Europe). Every dealer I could find was offering maximum 10 USD per OZ (curent spot 16.6). That is such a waste of investment if you need quick money. I will try to sell on ebay, no other option unfortunately Gold is a little better story but I dont have much of it and dont want to sell it for 795 USD/oz (25 USD per gram) , (spot: 1188). From now on I quit stacking silver, only 1/10 and 1/4 oz coins. Silver in my region is not valued properly.
The biggest local classifieds website with over 1.300.000 items (www.pik.ba) has only 3 silver coins and they are floating arround for months! Here people are just not interested in silver. Ignorant fools. When you tell somebody you stack silver they think you are crazy. You can sell easier 1kg of copper in scrapyard then oz of silver for decent money. And I am not looking for profit at all.
That is quite ridiculous. Maybe you can find a pawn store that will let you take a decent percentage of the value out in a loan? I'm surprised about that, do they even have stock? Who is selling set those levels? Are they selling under spot?
You can not buy silver or gold bullion in my country. Everythink I have I bouth from either Australia, USA or Germany. Here people just are not interested in it, or do not have any knowlegle about it. If I say Chineese panda, or Maple Leaf, of Kookabura, 99.99999% people never heard of it. You can buy 1 gram gold bars at jewelry shops at ridiculous prices (77 USD per gram! ) or Krugerand gold coins but prices are double comparing to ebay or international dealers. And when you try to sell it, they offer half of spot price! Ridiculous. To sumarite you can buy rarely gold items for double spot, and sell any silver or gold at half spot! They treat 1 oz Lunar horse or dragon coin just like any other scrap sterling silver junk!
Maybe you could find a reputable European dealer in Austria or Germany you could ship it to and then have them send you the money? Online dealers here and in the states do that all the time.
I dont know. I payed once shipping to get coins, and paying another shipping to sell it, I would loose again about half of value
certainly double shipping is a pain but 20 shipping has to be better than losing $6 an ounce on your silver?
buyer should pay for shipping(or incorporate that in the price) so u wont loose...even if u do loose some seems like-unfortunately-u dont have many other options...
wow. That is scary. was silver ever a monetary metal there? I wonder how and why your countrymen don't see it as a better store of value
Was gold and silver ever monetary metal in your country? That is quite a shocker that silver and gold are not really considered a store of value in your country...or has very little value. Kinda scary for us silver stackers. I'm sure glad the rest of the world isn't like Bosnia, we'd be screwed...us silver and gold stackers when we went to get some liquidity. I'm sure if your country suffers economic turmoil, it's more of a barter scenario there vs. wanting gold or silver to pay for things? Interesting info for sure.
Latest Silver Prices in Bosnia and Herzegovina Convertible Marka (BAM)DatePriceChange11/14/14 5:00 PM 25.47Ounce 818.77Kilo
Bosnia was a true SHTF scenario. When you are in the thick of it, I would suppose that PM are low on the list of value. As things stabilize, and stockpiles are dispersed - not personal stockpiles, I mean industrial stockpiles - PM would logically be used as a universal medium of exchange. I read an article (blog) on the Bosnia situation, and high value items were food, fuel, health and sanitation supplies, butane lighters, brass and lead, daily survival items. I would not imagine Bosnia would have many industrial stockpiles of these things, as would more developed and industrial nations. No one with a warehouse of time sensitive materials - health and food related - is going to just sit on it, and bartering it for other immediate needs would be cumbersome. \The idea is to transfer one form of wealth to another as an intermediate/universal, to be stored, until the logistics can be worked out. Someone with a large supply of fuel - any form - will have the same issues. What do I do with my 100 cords of wood? I will want to convert it to what I lack and need. From what I read the true barter system was not around nearly as long as some would have us believe. 'What I need for what you need' quickly becomes 'what I have for something anyone can convert to what they need' - aka money. That is when PM becomes a store of wealth - in a SHTF scenario. I view PM as just another form of fiat - not a popular view, I understand. After collapse during rebuild - barter is just not feasible for any extended period of time. There has to be a form of money, and since I view PM as having no intrinsic value, I view it as a form of fiat - in the right circumstances. And if there is no SHTF, which is a very real probability, I still like PM, for other reasons. I assume Bosnia is in the rebuild stage, so I am confused too by the value structure of PM. If you want to buy it, very expensive. If you want to sell it, forgetaboutit. Why? Market forces? Somehow I don't think the situation is typical, but that is an emotional response.
I saw that too - but kind of meaningless. I want to know what the classified ads show, what the pawn shops are doing. That will tell me something. I didn't find anything yet. It seems like someone right near Bosnia could be making a bunch of money. Why not offer to buy it cheap, but high relative to local markets - take it to a better market, sell it, repeat. I feel like I am missing something.
I think it's quite possible people are sending it to European online dealers that accept bullion through the post. You wouldn't even need to set up in a neighboring country, you could just be the local dealer who pays 20% more than the local pawn shops and mail it out to a partner somewhere else. Wouldn't even need much to start up, soon as you make a couple of purchases, enough to fill whatever the best priced shipping option is, mail it out and sell it then repeat the process. it's as good as free money!
your solution to this is socialize with other collectors and stackers. The same situation happens in Greece also.the collectors here in greece make a forum and we sell our coins and bars there avoid any lowballs from pawnshops and any ebay fees or so. We are now 3000+ members (with over 500 active) and a sell and action section. 5 years online, i must add that all the Greeks from Australia are welcome to our forum. www.steki-syllekton.gr
