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That's how they make money!

Welcome by the way, pop over to 'New Members' and introduce yourself :)
 
Depends what you're selling and where. So, what you got and where you selling it?
 
Buying and selling privately (e.g. on here) is one way to avoid the dealers' buy-sell spread. You'll always be able to sell for better than spot and buy for less than retail..
 
Well, I live in Arkansas and I've been buying silver rounds and bars from jm bullion for a while now. In the form of 1oz rounds and bars. Ran into some unexpected expenses and need to sell a 100oz. But can't even get spot on it. I've paid out a lot in premiums, which I know matters to no one but me! But I figure most people are going to buy it and resale it with a premium. Why do most feel paying spot for good silver is so bad? I'm not even asking for the change just 15.00 a oz.
 
You need better customers!

Selling to a dealer is usually quick and easy and pretty much a guaranteed sale. For that convenience you get less money for your items, i.e. in one way or another you are paying for the convenience.

If you do a private sale you have to first find a buyer, then deal with postage, potentially losing the item in the mail or getting ripped off etc. This is a lot less convenient but you will probably get more money for it.

You can always list on this website and see how you go.
 
myfalconry76 said:
Well, I live in Arkansas and I've been buying silver rounds and bars from jm bullion for a while now. In the form of 1oz rounds and bars. Ran into some unexpected expenses and need to sell a 100oz. But can't even get spot on it. I've paid out a lot in premiums, which I know matters to no one but me! But I figure most people are going to buy it and resale it with a premium. Why do most feel paying spot for good silver is so bad? I'm not even asking for the change just 15.00 a oz.
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It'll be a rare day when you'll find a dealer willing to pay spot for your stack. That's just the nature of the beast. I've had dealers offer anything from 2 bucks below spot to a high of $0.50(USD) below spot (which wasn't bad). You have to shop around for the best price.

-bob
 
Before I moved up here from Alabama I sold a bunch of silver dollars 90% silver. The coin shop I sold them to gave me 90% of spot because they were 90% silver. That's been a while.
And I understand that selling them to a dealer, they want them cheap as they can get. But won't they buy below spot then sale for a premium? On a 100 oz they can still make 200.00 dollars on the lot. Plus they pay spot price to the mint, to sell in their stores. Or do mints charge dealers a premium to?
So one last thing, what would be the least any of you would take for a 100 oz of 999 fine silver.
 
Not to mention, some are pamp bars and 2oz elemetals like finding silver bug island, pearl harbor and a few other 2oz fine silver high relief rounds.
 
Private sales (forums & your own network), and eBay.. ;)

I've never sold/netted any Ag at spot or below.

And unless an item is beat to hell, you shouldn't be expected to, either..
 
Gatito Bandito said:
Private sales (forums & your own network), and eBay.. ;)

I've never sold/netted any Ag at spot or below.

And unless an item is beat to hell, you shouldn't be expected to, either..
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Exactly.

It is up to the OP to find the best deal when buying or selling. Many small coin stores in "one horse towns" that only have one or maybe two coin stores often have bad spreads simply because they are the only game in town and can get away with it. In my area there are so many coin stores it is easy to get spot when selling ave. generic and over spot for ASEs, Maples, etc. if they aren't milk spotted, etc.

The online coin stores have virtually crushed many local coin stores because the large online stores have to be extremely competitive or they disappear. Sort of like Walmart coming in and knocking out local mom and pops stores that overcharged for years and got away with it.

Just my opinion.

Jim
 
myfalconry76,

I sent you a Private Message.


Log in & check the upper lefthand corner where it says "There are new messages"

Might help you out a bit.. ;)
 
Is there too much focus on spot?

Perhaps today you can't get spot for your silver, in a day, week or month you can.

Sell or buy metal when the price you receive suits you.
 
Nature of the beast, when selling everyone is looking for a bargain, it's well known your money is made at purchase, that is unless you plan on keeping certain bars or coins for the length of time needed for appreciation. In my exp buyers always want something for nothing, remember that as we are also buyers and we know at which point money is made. A good example is maples, fall for the 9999, and you may be sorry, people mostly know about the affinity of these coins for spotting, yet you still pay a premium for these coins, I fell for it as many have. Fortunately for me mine went straight from coin tube into airtites, I don't have spotting yet and they are a year old. My storage solution maybe helping in a de humidified safe, from what I have seen though it may not be relative as it seems to be a chemical reaction on the surface of th Ag. At the end of the day it's all about the Benjamin's so research buy in bulk and sell small lots or individually, eBay for sales, well some might but figure your PayPal and eBay fees into your sale price. Even if you wait for Ag price rise short term, you will find yourself selling for what you paid from dealers unless you can buy bulk. For me it's long term so I am not bothered. Even for people like me buying and refining you will find scrap sells for premiums above spot unless you do plenty of networking, pre decimal silver also has the same dilemma in Australia so knowing your coins and retail value of them makes a huge difference, quite often you will get more for the coin so some are just not worth the time and money to refine. It's a crazy market at times and takes much experience to learn the ropes of successful buying if your course of action is to short your stack within a definitive period of your buy. Nothing comes for nothing and the knowledge and wisdom in buying and selling is worth $$$ in itself, un allocated is cheapest, but you will need a substantial investment to make it work and worth your time. Best of luck, research, read, find a mentor, exercise great patience and you will find yourself on top of the beast instead of under it.
 
Thank yall, for your responses. What I'm selling is exactly 10% of what I've collected in the last 10yrs. I just hate to let go of 100 oz for the 12-1300.00 I've been offered.
 
live and learn.
on selling anything, try best not to be an anxious seller and try if able,
to give your self some time before you need the cash. I have sold at spot on this site when
i needed cash pronto. though have sold at a good premiums when I planed the sale(s).
I have found the best time to get premiums is to sell when the metals market have gone up several days
in a row as some people have a "fear of missing the boat" (FMB)

at the end of the day silver is silver is silver (or gold) and a buyer does not care what premiums you paid.

sorry to hear you have been getting grief with price expectations and price realisations.

I would suggest not to sell to a shop (they have over heads and yes they are running a business and need
to have a spread in buy/sell). maybe put add/post in something local and am sure there would be a stacker
that would jump at the opportunity at buying at/close to spot.

good luck/
 
This thread appears to prove my point that metals is not insurance as some stackers mistakenly believe it is.



I like polished silver....it's shiny!




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