Will i be able to sell the American Silver Buffalos in Australia?

S

SilverDroid

New Member
Hello,

I have never sold silver coins before and want to know if there are certain silver coins that are hard to sell in Australia.

For instance, I've noticed on bullionbourse that an American 1 Oz silver Buffalo is cheaper than the Australian silver coins... Is this because the Buffalos are harder to sell in Australia?


Will i be able to sell the American Silver Buffalos in Australia when the time comes just as easy as the Australian silver coins?

I don't want to buy heaps of hard to sell coins so i would appreciate an answer thank u :)
 
American Silver Buffalos = cheap loose generic rounds
Kookaburras etc = premium low mintage legal tender coins in capsules

Different products. Both sell in a heartbeat at the right price.
 
thank you!!! just to confirm tho, so you're saying there are lots of dealers who buy the buffaloes in Australia?

sorry I'm paranoid and like to be sure b4 i do something.

;)
 
Different rounds have different premiums for the reasons GP has pointed out but silver is silver. No problem selling buffalos at all. When you sell, your generics will comand a lower premium than lunars or kooks but then you didnt pay as much for them either.
If your looking to get Oz up quickly maybe silver with a lower premium is the way to go? depends what you want to acheive.
 
Thanks kilo,

well i want to get as many ounces as possible so that's why i was wanting the cheaper coins. I only have a limited amount of cash to buy and not many coins at all atm. Do you think it really matters that the other coins have a higher premium? maybe it might be worth spending more now to get more later?
 
I dont think it matters too much, I have a mix but thats just me, ask 10 people and you will get 10 different answers.
 
SilverDroid said:
Hello,

I have never sold silver coins before and want to know if there are certain silver coins that are hard to sell in Australia.

For instance, I've noticed on bullionbourse that an American 1 Oz silver Buffalo is cheaper than the Australian silver coins... Is this because the Buffalos are harder to sell in Australia?


Will i be able to sell the American Silver Buffalos in Australia when the time comes just as easy as the Australian silver coins?

I don't want to buy heaps of hard to sell coins so i would appreciate an answer thank u :)
Click to expand...

I would stick to the Perth Mint coins over the Buffs. I had Buffs recently as did a mate of mine, and we both found it difficult to sell them even at lower prices than you might find elsewhere.
I would suggest paying a little bit extra and buy the Perth Mint coins, or if you don't want to pay a high premium, go with the Perth Mint bars. They are very easy to sell, especially on this forum. CK will buzz in within 5 minutes of the listing :)
 
Well, silver is silver, and an ounce is an ounce is an ounce..............if ya get my drift ;)

There is no doubt that the RAM and Perth Mint issues are by far the more recognised (and recognisable) in this country, and therefore more more popular, and presumably, easier to on-sell...

That said, the ASE's, Maples, Buffs, and other "foreign" coins & generic rounds seem to be holding their own if ebay (au) bids are any indication..

I have no hesitation buying Buffalo rounds (from a known reputable seller) as long as "the price is right" :)


IMO, the main downside to the Buffs and the like, is the greater likelihood of finding fakes in the marketplace. ("German Silver" anyone??? ;) )


:)
 
People who are on forum and educated on silver may buy them, others won't. Just buy eagles, maples or something else widely recognized.
 
coins ie. With a $ value on them imho would be far less likely to be forged as if you do you are forging currency and thus the penalties and who will investagate (afp, fbi etc) will be worse.. Thats why i but coins
 
Well, it's been said, and it's basically true that all ounces of silver are equal. But as George Orwell might have put it, some ounces are more equal than others. Classic example of this is GP's brilliant "Alchemy Challenge". I don't stack any Buffs myself, but if I did, I'd be treating them as strictly bullion - low premium to buy, low premium when sold. But having said that, I don't think that they are any less liquid as a result. And in the future, who knows what will happen with premiums?
 
Well if the Buffalos are around $39.20 - Kooks $40-$42 and spot is $35.

Than I wouldnt buy Buffalos either.
At $37.50 - i wouldnt even look at the kooks and only be buying buffs.

However the buffs premium is high relative to what can be obtained for slightly bit more.
 
my theory is that if silver goes beyond $200 p/ounce then the premiums will basically be the same because people wont value them as coins anymore, they'll be valuing the silver content instead.
 
If you are buying just to own ozs then I think buffs are a really good buy because you get more bang for your buck oz wise and I don't envisage having any problems selling mine when the time comes, which obviously is when spot is a lot higher than now so who then will really care about the premium. I think when silver is + $50 the premium will mean nothing
 
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