Guide to buying silver in Australia (resurrected)

Discussion in 'Silver' started by goldpelican, Feb 20, 2010.

  1. Mobius2011

    Mobius2011 New Member

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    Ok, thanks for expanding on that. I didn't quite understand what he meant by that, but this fills in the blanks.

    Ahh ok, I see. Fortunately, I have a couple of mates who have decent sized collections and are willing to shift various pieces at spot as they need the cash at present. So I save on any premium the retailers add, plus shipping and insurance, as they are close by.

    Are people more after coins on these forums, or it's a bit of everything? Is there something that is widely known as hard to shift?
     
  2. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    Keep an eye on some the bigger bullion shops in your capital city. Some of them have various items on sale be them silver bars, gold and silver coins etc. It's usually buy back stuff so quality isn't guaranteed but purity is.

    ABC in Sydney had a sale on 1 oz silver coins the other week. They were returned silver Eagles, Maples, Kanga's and some others which they allocate at random when you purchase... no choice you get what they give you, but for the price I paid being AUD22.00 each it wasn't a bad deal. Ended up with a batch of perfect Maples for a good price as opposed to their retail price at the time.
     
  3. Mobius2011

    Mobius2011 New Member

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    Ahh nice. How do I find out about these? Sign up to various newsletters, or the sales are posted here on this site?

    One of my mates is parting with some maples, eagles and kangas at spot, so I'll be snaveling some of them too. And some Lunars.
     
  4. Oddjob

    Oddjob Well-Known Member Silver Stacker

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  5. alor

    alor Well-Known Member Silver Stacker

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    some dealers don't do buy back, most will, majority will take in anything; others may take in selections
    this is a free markets, you will need to check them out...they may change from time to time and into the future
    subject to market conditions
     
  6. Soprano16

    Soprano16 Well-Known Member Silver Stacker

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    I wouldn't completely rule out eBay, but it depends what you're looking for

    If you just want generic rounds, bars etc then eBay isn't the place to go, but if you're into more numi/limited mintage stuff or anything else really you can get some amazing deals on eBay if you know what you're doing and are willing to put in the time to search regularly

    It's not often I find great prices for "Buy It Now" stuff, but I've won many auctions and got some crazy bargains because I regularly searched certain key words etc and put in the time, which isn't that much actually, maybe 10-20 mins a day or so if you know what you're wanting. Auctions aren't great as a seller, but as a buyer and in this current market, you can really scoop a deal
     
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  7. Ziax

    Ziax New Member

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    for a new buyer i wouldnt recommend it as I wouldnt know if it is right price, good quality, etc.
     
  8. Ziax

    Ziax New Member

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    PS I brought my first new stack of silver... and 1 ounce of gold.

    I am looking for more ways to know how to get it at right price, etc.

    I brought it in brisbane via Ainslie bullion and they charged me 714$ for 1 kg. is there any other place you get it for cheaper.
     
  9. Soprano16

    Soprano16 Well-Known Member Silver Stacker

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    Well that goes without saying.

    For anyone new to metals, I would strongly suggest you do fair amount of research to build your knowledge base - that in turn will educate you and help you make better purchase decisions

    This thread, and many others on this forum will give you plenty of information about all of the available dealers we have here in AUS

    In regards to the 1KG bar you bought, there are other dealers who are selling them cheaper than $714, but then you'd have to factor in postage too, so $714 F2F isn't bad

    This forum is almost always the cheapest way to buy
     
  10. Ivykoin

    Ivykoin Member

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    Very informative. Appreciate the effort put into thread. Time to start stacking.

    Cheers
    IvyKoin
     
  11. Number 47

    Number 47 Well-Known Member

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    I've seen some really good deals on Gumtree for 1kg silver lately.
     
  12. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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  13. Number 47

    Number 47 Well-Known Member

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    Yep ... that's a pretty good deal.
    The jewellery stores are charging about $740 for 1kg perth mint bars at the moment.
     
  14. SilverDJ

    SilverDJ Well-Known Member

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    Why not just sell it back to ABC bullion?
    Why is it a different serial number?
     
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  15. Number 47

    Number 47 Well-Known Member

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    He's probably got several bars, all with different serial numbers.

    As for the low price ????
    Desperate to sell fast?
    Typo ?
     
  16. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

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    here there everywhere
    Because dumbtree is full of scammers
    Anybody who thinks they can buy of dumbtree below spot is waiting to get scammed
     
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  17. Number 47

    Number 47 Well-Known Member

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    Hmmm you've probably hit the nail on the head.

    To be honest I didn't even consider scammers.

    Goes to show, it's not worth making a PM purchase online without eBay / PayPal style buyer protection.
     
  18. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Or perhaps he couldn’t sell back to ABC?
     
  19. milled

    milled Active Member

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    It's choc a bloc full of people wanting insane prices or people dodgy af. Thieves and worse. Saw one idiot trying to sell a 1930 penny for about five grand under fair value. Tried to say he found it in his grandfather's drawer. One small problem - it looked exactly like the aliexpress Chinese knockoff version.

    It probably didn't occur to this person that anyone can look at images online and that sane person would take it to a dealer and get it appraised, given the high value of a real one. No rational person would just put it on gumtree and stiff themselves out of 5k.

    Crystal meth is widely used in Australia unfortunately and is well known for what it does to people. I would keep your eyes well in front of your head buying any coin or bar on gumtree. There are a few people with a large collection they are trying to sell off in their older age for whatever reason, but typically imo these people have the idea that you are going to pay the price you would in a shop or even more. Yet they pay no tax, no overheads.
     
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  20. valuecreator

    valuecreator Well-Known Member Silver Stacker

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    back in the days when I lived in Perth, I had an ad on Gumtree looking for big stashes of round 50 cents. I would get one or two real bites a month and meet them in the lounge of my bank two blocks away. Paid spot price. Lots of bozos just calling to know why I was buying, too, but that goes with the territory ;)
     
    Last edited: Apr 26, 2019
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