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If I want to sell some sterling silver?

coolestcoolest Posts: 2,281 ✭✭✭
How should I calculate a fair selling price?
I have 4 Franklin mint silver plates (I think 6 oz sterling)

Also if I am selling silver rounds (.999) should i expect to sell at the bid price of silver or some percent below that?

Thank you!

Comments

  • AmigoAmigo Posts: 966

    Hi,
    Check out my BST thread. I buy all sterling.

    Linky
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>How should I calculate a fair selling price?
    I have 4 Franklin mint silver plates (I think 6 oz sterling)

    Also if I am selling silver rounds (.999) should i expect to sell at the bid price of silver or some percent below that?

    Thank you! >>



    Sterling will sell at a discount ( 10%-20%) of spot... 999 silver on the other hand, if selling on ebay, will sell at $3 - $4 above spot. But you need to consider the fees. Otherwise, at spot or slightly below spot.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    My local middleman was paying 88% of spot for sterling rounds a week ago. Bars would probably get about the same price. That would tell me that the refinery he
    ships to probably pays him around 92%. Recall that 90% silver coin fetches somewhere in the 70-72% range.

    I would imagine that B&M's working on larger margins would pay closer to 80%.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • hammered54hammered54 Posts: 750 ✭✭✭
    use the kitco buy price as a starting point, it's $1.02 a gram under 1000 grams.
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