Hi Forgive the noob question, but wondering what the best ways to sell physical silver are quickly in Australia. I have been buying for a few months, and am now thinking of how to offload fast if I needed, potentially to instead invest in Goldmoney.com holding account, so it is more liquid Two questions are: 1.) in Ausrtalia what is the best way to offload silver? 2.) Is Goldmoney.com a safe bet? Thanks
1. you would clear your silver on here very quickly 2. I wouldnt park my money/gold in any offshore accounts of any type but thats just me 3. Have you looked at ETF's in Australia
Thanks for the advice. Hiho, I have not looked at ETF's as I only here bad things about them. That's why I am looking into Goldmoney.com
one more question, do people just post the silver with registered post when they sell it here? and I assume one has to wait for funds to clear first right?
usually buyer direct debits the funds, once funds are cleared the seller ships the package. If unsure, find a buyer with positive trading feedback.
Either Registered Post or Platinum Express Post. If using Registered, ensure to ask that it is "scanned on lodgement" when you are at the counter, otherwise it mightn't get scanned until it reaches the destination delivery centre. There's been many many five figure sum deals done through this forum, many of them between members off-forum once trading relationships are established. SPOTMEX has also now launched, and there are plenty of forum sponsor dealers always buying back silver, e.g. http://forums.silverstackers.com/message-113998.html#p113998 and http://forums.silverstackers.com/to...uying-silver-1kg-perth-mint-in-melbourne.html
I too am looking into selling some silver...not just yet, need to hold 12 months to get the 50% CGT discount and prefer to wait for next financial year...almost there. I will offload 5 kg bars and 100oz bars. Either June or July. I was going to sell them back to Ainslie but if I can find reliable buyers on this site I will go this way. Thanks for the info GP. Just wondering what the difference is between Reg post and Plat exp post?
Welcome Look to the members to find the information you seek. You will find what you are looking for.
Platinum post is next day express delivery that also requires a signature on delivery. Basically a cross between registered post and express post. It also offers compensation up to $100 should loss or damage occur and you also have the option to purchase extra cover up to $5000
I looked at Goldmoney.com and someone I know who is very successful uses them. However, there were so many fees that it appeared you needed well into 6 figures of fiat to make Goldmoney a good option.
I tried goldmoney some time ago and found that it wasnt just the fees but the exchange rates for money ended up destroying your capital fast.
Saw something the other day about memberships paid in silver but I thought the poster was joking. Being US based, the trading floor access likely isn't useful for me. Didn't everyone know that GP is the forgotten Hunt Brother!
On that note, I built a tool today which could be useful for trading here, though it's still in test mode @_@ *watches science unravel* Edit: It lives!
Ok, the exclusive mode function is operational Live price images can only be viewed from Silver Stackers And now, for the next part of the experiment O_O *keeps testing* http://spottrade.dyndns.org/ That's the configuration screen, but it's locked down. I'll leave it there for anyone that wants to see the options. Maybe I'll make it less restrictive :/ It will only unlock completely if it is opened by the forum, but of course I don't have that kinda access here lol Gold NZD Platinum EUR Edit: Alright, I've at least allowed users to generate the image tags
