Best option for selling Silver

Jay Kay

Jay Kay

New Member
Hey guys, I'm new to this forum and just looking for a little advice on selling silver.

I keep silver simply as I prefer it to paper money, no investment plans of big returns or anything, just feels safer to me.

I have come into a situation where I need to free up some funds and find myself in the position of needing to sell some of my stash. I am currently holding 1kg bars and 10oz bars. The spot price is above what I bought for but the buy back price I was quoted for the 1kgs means I will be taking a backstep. I wouldn't sell if I didn't need it right now. I bought through Ainslie and that's who gave me the buy back price.
Questions are:
Are there any other reliable options for buyers out there? Would it be better selling the 10oz as opposed to the 1kg?

Thanks in advance

JK
 
Sell them here. You will find d people readily available to snap them up if the price is right with a hasstle transaction.
If you sell here you will benefit by selling above the buy back rate (at spot or slightly above, but you can put your own value on them) and the buyer will benefit by buying below dealer prices... Win win.
Transaction can be carried out face to face or the usual bank transfer etc and post.

Be aware it is normal to ask new members to post the item first at the request of larger active members here (trade feedback). It may be harder to shift your items if you do not to this as you are very risky being new. Everyone who has a large trade feedback and active members are pretty solid. Trust and your word goes along way here.

Small items tend to go faster than larger but if 1kg bars are the biggest you'll move them fast too.

Oh yes, Welcome .
 
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Have a look through the sales thread here to get an idea of the prices bars are going for. Some people collect rare or interesting bars and will pay a higher amount but I can't tell you what those might be sorry.

Offering face to face trade is a good plan too as that means buyers can give you the cash immediately instead of you having to trust them to pay on receipt of a parcel. A note on face-to-face trades, though, is to make it in a public place like a Coffee Club or McDonalds etc and limit the sales to amounts not attractive to criminals.

A further thing about Brisbane (you mentioned Ainslie so I am assuming here) is that there were a spate of bullion robberies a few years back. Since then Brisbanites have been very careful about sharing their addresses with people they don't know. Check with your bank to see if you can receive bank transfers without a (full) name being provided; ie Bank, BSB, account number only. Use Australia Post's Parcel Collect as the return address, that way you will maintain anonymity and still be able to be notified if a parcel is returned.

Above all, be clear and patient. Asking for help was a good first move.
 
Hi Jay. I’m from Brisbane Northside and am keen to buy both 1kg and 10oz bars with cash, if the price is acceptable. Prefer face to face. Put up what you got I’m sure you’ll get great offers.
 
I suggest putting up some photos and a better description of what the bars are, and your chances of getting a premium increases.

You will find three kind of buyers.

1. Investors of metal to whom... Silver is Silver no matter what, who will stick to spot
2. People who collect Silver much like art and collectibles, who will pay a high premium for that something speical
3. People who are both, that have different valuation for certain collectible silver that they fancy and other silver that to them is just metal value.

Also stating what City (bigger buyer market in the city) will increase the potential for face to face sale for cash minimising need to post first, since you are new.

PS: if your sending first, also make sure the buyer is reputable, trust is not just one way streak.
 
Thanks all, good advice all round.

The only problem I can see with a two way streak is the likelihood you'll be caught is greatly increased on the double back ;)

Apart from that, glad to see so much feedback in a short space. Nice little community :)

Will know this week if I need to flick some so keep your eyes peeled if you're interested.

Regards
 
Thanks @zedstrange, If I need to I'll go back to them, they have been very helpful each time I've bought through them.
Am trying the private sales thing through the forums here for now. Nice to keep it in the family ;)

Check out the link above if interested.

Peace
 
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