is it always going to be easy to sell silver?
- Thread starter theconcierge
- Start date
Morning,
"..........My one concern is actually being able to sell silver if the price does infact go to the moon.
EG. Silver hits $100 in the next couple of years. I for one, would be tempted to sell a fair amount at this price and put the money towards something else. Where would one actually sell this silver? I I know a lot of trades happen here and there seems to always be buyers - however does anyone reckon there would be many buyers at $100? I figure the same would happen on Ebay as well................"
I notice as is often the case for some reason, no one has given much of an answer - so, here is what happens in a slightly bigger part of the world.
Look up the phone book.
In melbourne you have a building full of precious metal dealers and more besides.
You take your metal in and you come out with cash - simple as that. IMO if you have larger amounts of metal to trade, that is the way to go. Purely my opinion, but eBay has too many quirks for 6 figure deals or even 5 figure deals and silver stackers as much as I love the medium is filled with small deals - you can see it often with people wanting larger deals broken up.
Both silver and gold are traded in both large and small amounts every business day in every major Aussie city - whether silver is $2 or $200.
My advice is to form relationships now and keep them active - so that when you walk through the door to sell half a million bucks worth - you know who you are dealing with.
Have a great day all
Gazza.
"..........My one concern is actually being able to sell silver if the price does infact go to the moon.
EG. Silver hits $100 in the next couple of years. I for one, would be tempted to sell a fair amount at this price and put the money towards something else. Where would one actually sell this silver? I I know a lot of trades happen here and there seems to always be buyers - however does anyone reckon there would be many buyers at $100? I figure the same would happen on Ebay as well................"
I notice as is often the case for some reason, no one has given much of an answer - so, here is what happens in a slightly bigger part of the world.
Look up the phone book.
In melbourne you have a building full of precious metal dealers and more besides.
You take your metal in and you come out with cash - simple as that. IMO if you have larger amounts of metal to trade, that is the way to go. Purely my opinion, but eBay has too many quirks for 6 figure deals or even 5 figure deals and silver stackers as much as I love the medium is filled with small deals - you can see it often with people wanting larger deals broken up.
Both silver and gold are traded in both large and small amounts every business day in every major Aussie city - whether silver is $2 or $200.
My advice is to form relationships now and keep them active - so that when you walk through the door to sell half a million bucks worth - you know who you are dealing with.
Have a great day all
Gazza.
Jislizard said:
If silver goes to 100+, I'll be channeling my funds into building my Mad Max style desert fortress :lol:
Here's my uneducated opinion:
Spot is spot and as long as people desire silver there will be buyers for it, no matter what the price.
If there is a massive rise silver, it will start to make it into the MSM.
Once that happens average Joes who have never bought PM's before will flooding in to their local bullion dealer hoping to grab their slice and make a small bundle speculating that the price will go even higher. Afterall that is what the MSM is telling them, and if it's on tv it must be true.
So that local dealer is now going to be in the market for large volumes of immediately marketable product. It now comes down to supply and demand. If I walk in with a bunch of well recognized (think Perth Mint and PAMP) silver bars in good sale-able condition that the dealer knows he can immediately put on his shelf and sell by the end of the day he is certainly going to be a buyer.
Even if he only pays me spot for it, I have made a tidy sum by buying before the rise (ie:now), sure I could sell it for a few extra percent on here, but that takes time and effort (replying to pm's, trips to the post office etc).
What you have to make sure you are doing is stockpiling stuff now that will be marketable to the average Joe in the future. If silver goes to $100/oz, a 10oz bar will cost $1000+ and a 1KG will cost $3215+. IMO 10 ouncers will be the limit for the average Joe's budget. Sure there will still be some willing to drop $3k on kilo bars but volume will be in 10oz and smaller.
Personally I stack 10oz exclusively (except for 1 solitary 1KG - hey, it's nice to fondle sometimes - like as I write this). To me right now 10 oz represents the best tradeoff between premium and future liquidity.
Would I personally be buying silver @ $100/oz - HELL NO, I would be selling and then re-buying even more once the bubble bursts.
Spot is spot and as long as people desire silver there will be buyers for it, no matter what the price.
If there is a massive rise silver, it will start to make it into the MSM.
Once that happens average Joes who have never bought PM's before will flooding in to their local bullion dealer hoping to grab their slice and make a small bundle speculating that the price will go even higher. Afterall that is what the MSM is telling them, and if it's on tv it must be true.
So that local dealer is now going to be in the market for large volumes of immediately marketable product. It now comes down to supply and demand. If I walk in with a bunch of well recognized (think Perth Mint and PAMP) silver bars in good sale-able condition that the dealer knows he can immediately put on his shelf and sell by the end of the day he is certainly going to be a buyer.
Even if he only pays me spot for it, I have made a tidy sum by buying before the rise (ie:now), sure I could sell it for a few extra percent on here, but that takes time and effort (replying to pm's, trips to the post office etc).
What you have to make sure you are doing is stockpiling stuff now that will be marketable to the average Joe in the future. If silver goes to $100/oz, a 10oz bar will cost $1000+ and a 1KG will cost $3215+. IMO 10 ouncers will be the limit for the average Joe's budget. Sure there will still be some willing to drop $3k on kilo bars but volume will be in 10oz and smaller.
Personally I stack 10oz exclusively (except for 1 solitary 1KG - hey, it's nice to fondle sometimes - like as I write this). To me right now 10 oz represents the best tradeoff between premium and future liquidity.
Would I personally be buying silver @ $100/oz - HELL NO, I would be selling and then re-buying even more once the bubble bursts.
Ashman said:
and whos to say there is a bubble, and if there is, that it will burst in your lifetime? You could be holding a whole lot of toilet paper waiting for something that either wont come or for something you may not be able to purchase again with your mountain of worthless toilet paper aka fiat
lucky luke said:
Well I suppose those are the risks you take when speculating.
Though we are talking about silver atleast tripling in price here in a short amount of time. This is unlikely to be a normal upward trend. And historically something like that is followed soon after by a significant crash.
I guess you just have to gamble a little, do you sell anticipating a crash that may or may not come, or do you hold anticipating a rise that may or may not come?
If we could all see the future we would all be rich.
Just waiting to see one of the ultra-rare double mirror Intrinsic Tender shillings to hit the market. Total mintage 12.
I am not sure that I want to see what will have happened to the global economy and in particular the US economy that would lead to silver bullion selling for a spot price of $US100.00 per ounce.
I did the math once - silver just had to continue the same annual average returns to reach $200/oz by 2020. Might have been when silver was in the 40s though.
Hi there,
Just an observation....It seems to be human nature that the cheaper something is, the less people want it.....Look at real estate in the 90's, nobody wanted it and you could pick up blocks of land in Cowes on Phillip Island for $19000.....but soon as it became expensive, everybody wants a piece of the action.....this is the part that causes prices to skyrocket....What I am getting at is that you will have no problem selling your bullion as prices increase because the only reason prices can increase dramatically is if the demand increases dramatically. One thing to keep in mind however is that you will not be able to time the peak for all your sales.....There is no way in hell you could have timed your exit during the late 70's to take advantage of the big blow off. Take profits as they come. It is possible to wait until it is too late......You will know that it is nearly too late when you read that high silver prices are the norm.....
Just an observation....It seems to be human nature that the cheaper something is, the less people want it.....Look at real estate in the 90's, nobody wanted it and you could pick up blocks of land in Cowes on Phillip Island for $19000.....but soon as it became expensive, everybody wants a piece of the action.....this is the part that causes prices to skyrocket....What I am getting at is that you will have no problem selling your bullion as prices increase because the only reason prices can increase dramatically is if the demand increases dramatically. One thing to keep in mind however is that you will not be able to time the peak for all your sales.....There is no way in hell you could have timed your exit during the late 70's to take advantage of the big blow off. Take profits as they come. It is possible to wait until it is too late......You will know that it is nearly too late when you read that high silver prices are the norm.....
tolly_67 said:
Seeing that exact behaviour in Platinum at the moment - sold very little when it was $75+ cheaper than gold, now that it's back over gold, been selling it hand over fist the last two weeks.
PrettyPrettyShinyShiny
Well-Known Member
Using that same logic, bronze is selling for around $45,000 an ounce. Check out the prices the 1930 Pennies are fetching.sconejon said:
Silver isn't silver.
Jonesy said:
I don't think it would take much, just a gentle move out of bonds and into PM's.
I'm sure people said that sort of thing when gold was much lower, but our way of life / standard of living / public safety has not changed all that much in the last 20 years - at least not so fast that we haven't been able to adapt.