Selling your rounds to a mint?
- Thread starter Dusty
- Start date
Not sure why you wouldn't include silverstackers, that's exactly where I will be going.
Everyone else will pay you less than what they are worth.
Even if the site is down, you should have made enough contacts that you can trade through your own networks.
Everyone else will pay you less than what they are worth.
Even if the site is down, you should have made enough contacts that you can trade through your own networks.
Jislizard said:
My point would be to ask were would you sell your rounds outside Silver Stackers, I've sold alot on here but little outside of here.
I seen a guy in the perth mint hand over 20 x 1kg silver bars when the price was up in the forties ( smart bastard ) and you could walk in there and sell a 1oz Kook but what about rounds?
And what if there was never any silver stackers?
The coin shops that I know of will buy my coins but are not interested in rounds.
You make the point of saying that you will get slot less for your silver anywhere but on here BUT what if you couldnt sell your rounds ?
There is nowhere locally for me to sell silver.
No coin shops and even members of coin clubs don't consider rounds to be collectable.
You could try coin dealers when ANDA is in town.
Or you can try goldbuyers in your local shopping centre or even cash converters. Occassionaly you will see a 2-page spread in the newspapers about buyers coming to your local RSL.
None of these are great opportunities, for you.
Scrap metal dealers may take some but refiners are not very interested in silver, gold they like.
No coin shops and even members of coin clubs don't consider rounds to be collectable.
You could try coin dealers when ANDA is in town.
Or you can try goldbuyers in your local shopping centre or even cash converters. Occassionaly you will see a 2-page spread in the newspapers about buyers coming to your local RSL.
None of these are great opportunities, for you.
Scrap metal dealers may take some but refiners are not very interested in silver, gold they like.
Come the revolution, I would suggest that currency, ie,some coins might be worth jack. Bullion will be worth more. So some rounds like RSC products may be more highly valued due to their higher purity. For your particular question though, there are many bullion dealers who will buy your rounds. Just Google' bullion dealers in Australia' and you will be presented with a plethora of opportunities.
Fantastic point. It is something I had not taken into account. While it does not effect me as I only have a small amount of rounds, I would not want to be fully invested.
Very poignant considering a new seller entering the local market with a nice round on here. I think is a great product, just resale could be an issue.
Very poignant considering a new seller entering the local market with a nice round on here. I think is a great product, just resale could be an issue.
You would just eBay them, but if you don't like the fees them I'm sure in time to come there will be so many buyers that you could literately put a sign out the front of your house and have a line up of people willing to buy them (However we are not there yet, you could have coins sitting at a garage sale for some time at the moment before someone will even recognise what they are, so still a whiles off)
Anyway I don't think you need to worry too much about how to off load them later on, it will only get easier as time goes on.
Anyway I don't think you need to worry too much about how to off load them later on, it will only get easier as time goes on.
Good luck selling your rounds. I remember in the mid 90s when I first enquired (but never brought) about gold, the dealer said that they ONLY buy back their own brand of gold. Wow... Lots of modern dealers are also similarly discriminating when buying back.
Why not conduct an experiment and try and sell your rounds to various bullion dealers? It might be enlightening.
Junk silver is even worse... an important points made by Robert Mish (in his interview with Chris Martenson) was that in the late 70s, junk silver sold for up to 30% less than spot price, due to the refinery back-log.
So when the heights of the market are again reached in the future, you can either sell your junk silver to a bullion dealer for a 30% discount, or you can sell it here for spot price, where it will be juggled between different SS like a hot potato, because no-one wants to be the sucker who has to sell it to a dealer and lose 30%. Probably silver rounds can be juggled like hot potatoes too?
Why not conduct an experiment and try and sell your rounds to various bullion dealers? It might be enlightening.
Junk silver is even worse... an important points made by Robert Mish (in his interview with Chris Martenson) was that in the late 70s, junk silver sold for up to 30% less than spot price, due to the refinery back-log.
So when the heights of the market are again reached in the future, you can either sell your junk silver to a bullion dealer for a 30% discount, or you can sell it here for spot price, where it will be juggled between different SS like a hot potato, because no-one wants to be the sucker who has to sell it to a dealer and lose 30%. Probably silver rounds can be juggled like hot potatoes too?
http://billhicksisdead.blogspot.com.au/2012/04/sucker-born-every-minute-franklin-mint.html
Just make sure your rounds are pure silver, and not from the Franklin, Washington, Macquarie or Pobjoy Mints
original story withou commentary: http://heraldnews.suntimes.com/busi...20/coin-purchases-dont-live-up-to-claims.html
Just make sure your rounds are pure silver, and not from the Franklin, Washington, Macquarie or Pobjoy Mints
original story withou commentary: http://heraldnews.suntimes.com/busi...20/coin-purchases-dont-live-up-to-claims.html
Lesson no 10,642 learnt: Do not buy rounds as you will be stuck arsed trying to get rid of them to anyone when you really need to.
Ar shit quick delete this thread before to many peole read it, I have to get to the trading section to swap my rounds for Perth mint coins and bars....
Ar shit quick delete this thread before to many peole read it, I have to get to the trading section to swap my rounds for Perth mint coins and bars....
If you buy bullion, buy something that people recognize like Perth Mint, PAMP. It will be easier to sell on ebay and attract more people. Most people feel more confident buying that instead of a no name rough slab of silver- who knows what is in that.
Same with coke and cola. Most will choose the coke. Tastes the same in the end (IMHO).
Same with coke and cola. Most will choose the coke. Tastes the same in the end (IMHO).
Dusty said:
Mate, whether it be coin, round or bar, bullion is bullion. Silver .999 or greater, Gold .995 or greater. That is why there is a world spot price. There may come a day when all currency is seized by the authorities ( there is a precedent
in law for this ). On that day I would rather have rounds or bars than currency like Perth Mint coins etc,