Best way to sell silver proof singles
ChrisH821
Posts: 7,120 ✭✭✭✭✭
I have about $17 worth of silver proof singles from the 50's-60's. Pretty standard stuff, nothing exceptional, nothing bad, a few "meh" toners in the bunch, some still in cello pouches others put into flips or 2x2's. Good mix of halves, quarters, and dimes.
I know, I should have just unloaded everything when silver was $80+, but now that it seems stable at $60-ish I think I might get rid of these that are just tying up money I could use for other things. I assume these would go for melt. What do you think would be the best way to liquidate?
Sell local to a dealer? This is probably easiest and fastest, if they are buying, but would likely net under melt.
Sell smaller lots online?
Sell the whole group at once online?
Other?
Collector, occasional seller
Comments
Local BST here would likely be a quick sale.
If they are going to sell for melt, local dealer is probably the best way. Anything that adds shipping or transportation costs will not benefit you much. It adds expense as well as risk.
If you can get 5-10% over melt on BST or 10-15% over, it's probably a wash.
All comments reflect the opinion of the author, even when irrefutably accurate.
If you’re in a coin club you can sell them at the club meetings / auction. Many will bid up the really nice ones, or even get in a bid war. Or just add them to your silver stockpile for when silver goes up big time. If you have an online store you can put a batch out there for retail.
At shows from my table I put raw coins in flips or 2x2 in browse box (cut out of of sets) for show sales to customers. Many Nice silver proofs (cherry picked for quality) do well. For pricing I usually refer to CDN CPG (otherwise simply cost plus). Retail Sales have been strong on that material. Many of them gem proof, super PQ.
Last silver run up many hit it big time who had been loading up on slabbed MS 69 / 70 bullion coins 1.5-2yr. Many low pop, strong demand. Really huge profit for players on all that (especially Mexico Libertads, GB Britannias) bc players bought them when cheap back then and mainly sat on them (double bubble retail). Then when silver blasted off players marked them up accordingly (higher) getting multiples of their investment.