Hi Stackers Im after some advice on how to best go about selling a monster box of silver. 500oz 2014 salt water crocodiles, Perth mint, unopened box. Im currently in Melbourne. I stacked for a few years and have been happy with my decision, however I have a mortgage now and need to rebalance my position. I have completed a number of trades through SS however I was always the buyer. I am looking to sell so any advice on pricing or different ways of going about it would be most appreciated. Happy to split it up as it will make it easier to sell. Thanks for your assistance.....Sweetbread
The logical advice would be to wait until silver prices rise a bit (assuming you believe that will be the case). Since you obviously bought the box sometime between the 2013 release and now, that means you are either roughly even (if you bought late 2015 or late 2018)... or more likely you're down on money on the silver price (if you bought at any other time since their release). You also almost surely paid some premium on them when you bought them, so you are down quite a bit (assuming they will sell for spot with no premium, which is most likely what any shop or buyer will logically offer). These coins sell for roughly spot +25% or less in USA from major dealers, so I would consider spot price a fair offer when you're selling yours. Silver just jumped up around $1 USD last week, though... maybe try to ride the wave for at least a month or two and see if this turns into a sustained spot price uptick? Everything is generally trending in the PM bull market direction with stock markets shaky, so you could at least wait and watch for a short while... or a longer while if possible. It sucks to hold those coins for years and still come out behind if a little patience might help you break even or possibly profit. Selling on a forced timeline is always the worst way to sell. As far as finding a buyer, local meet up through SS or another platform for your area or a local coin shop might be your best bet on a monster box. The shop is easier but will likely give you spot or a bit less, and the private party is more hassle but might get you spot or slight premium. Anywhere you go, you will probably get roughly spot price, but shipping would obviously be substantial on 500oz if you sold outside your country (ie sell to APMEX, eBay international buyer, etc), so that wouldn't really be much option unless you got a great premium somehow. That would be unlikely, though. GL
Bring it into Little Coin Shop (605/227 Collins Street in Melbourne) and we'll pay you spot. malachii
If you are desperate to sell, and want the convenience of being able to sell the lot quick and easy than go and see malachii and accept his offer of spot Personally, I could never sell these coins for spot though, and this is exactly why monster boxes have never interested me because your options are very limited when looking to liquidate unless you have the time and patience to sell privately As of now spot is $21.78, but these coins are selling for $35+ on eBay, and even dealers are asking just as much for them. Problem is though, the amount of sales at these prices are quite small, the odd coin here and there - nobody is buying boxes at that price On this forum, sellers generally ask for $25ish per coin. Considering you have 500 coins, you'd be losing $1500-$2000 by selling to a dealer for spot, as opposed to selling them on here at $600-$625 per roll, but it could take you a while to offload 20 rolls here, as opposed to getting instant hassle free full payment from a dealer, although at much less I'm sure if you started a sales thread on this forum you'd find buyers who would take a roll/multiple rolls for higher than spot, but it comes down to what is convenient for you Patient and Private = much more return Quick and Easy Dealer = Spot, so much less
recently silver is spot +$1, being traded good when spot is going up past few days you can try to sell by the tube here, prices are more reasonable for this box of silver bring the box to get the spot price is also a simple solution, you just need to wait for a better spot price eBay is cumbersome for 500 oz and go 1 by 1, etc etc fast = spot or slow +> better price than current spot ?
