Home Precious Metals

Generic silver round sell question

Bigbuck1975Bigbuck1975 Posts: 1,262 ✭✭✭✭✭
Buddy has 400 1 oz - 2012 queen of peace silver rounds. What would be a reasonable sell price to a dealer for this lot? Thanks in advance for your responses.

Comments

  • OPAOPA Posts: 17,121 ✭✭✭✭✭
    approx 5% below spot. based on today's spot price....: about $18.90 per oz.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • CoulportCoulport Posts: 1,087 ✭✭✭
    Depends.
    Number of dealers in the city.
    Their inventory.
    Day of the week.

    (My area of 6+ dealers, spot is the going rate. After Friday close it is less.)
    The most money I made are on coins I haven't sold.

    Got quoins?
  • derrybderryb Posts: 36,823 ✭✭✭✭✭
    get a price from the dealer(s), you might do better selling them here.

    They are selling for more than spot on ebay

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    Sure, for a dollar or two more per ounce, list them on ebay, and you can also enjoy the pleasurable hours photographing items, writing the listing, waiting for the bids and auction end and payment, then experience more fun in the packing and mailing of the items, and you can share the wealth by paying ebay and probably paypal too, and also have the thrill of risk of getting ripped off, or having some other snafu, then some nice (maybe) feedback, or even a return!



    Or you can take spot, give or take a few cents per ounce, at the local B&M, for the whole load at once. Tick tock my friends!

    Liberty: Parent of Science & Industry

  • derrybderryb Posts: 36,823 ✭✭✭✭✭
    regardless of seller costs, ebay is a good indicator of retail prices buyers are willing to pay. Deduct accordingly based on your selling venue.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭
    In my opinion, you will be happier with them SOLD even if it's a....little....low in your mind.

    The only silver that will sell easily in the future will be American Eagles and 10 oz bars.

    The days of the generics are over.
  • rawteam1rawteam1 Posts: 2,472 ✭✭✭
    Originally posted by: topstuf
    In my opinion, you will be happier with them SOLD even if it's a....little....low in your mind.
    The only silver that will sell easily in the future will be American Eagles and 10 oz bars.
    The days of the generics are over.

    Would that include 10 oz generic bars?
    keceph `anah
  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭
    I don't think so.

    Possibly....maybe even probably.



    But 10 oz bars FLY off dealer shelves.

    And...considering the cost/storage factor, they make a lot of sense.



    ASEs will dominate. I used to think ANY government coins would, but that isn't proving to be the case. The premium you might pay for Libertads or Onzas or Prospectors just goes POOF when you sell.



    ONLY if silver becomes a TRUE shortage (not one driven by private mint production delays) then MAYBE people would ...again.... demand ANY product.



    I don't see that happening.



    But I would have probably sailed on the Titanic, too.
  • It also depends on what dealer you are selling to, for example APMEX is paying spot - $0.30 but a local dealer would probably be paying spot - $1.00. Keep in mind if you are look g to sell them on eBay all the fees. In my opinion selling them to a bigger online dealer would be your best bet.
  • bronco2078bronco2078 Posts: 10,225 ✭✭✭✭✭
    Originally posted by: CAcoins
    It also depends on what dealer you are selling to, for example APMEX is paying spot - $0.30 but a local dealer would probably be paying spot - $1.00. Keep in mind if you are look g to sell them on eBay all the fees. In my opinion selling them to a bigger online dealer would be your best bet.



    Better to take the -1$ and get paid cash
  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭
    List it here !!! ??
    Timbuk3
  • Jinx86Jinx86 Posts: 3,710 ✭✭✭✭✭
    If you were to bring them to us, we would offer around 20-30¢ back of spot. Locally not a popular round, I would most likely end up sending them off to another wholesale dealer at spot or 5¢ back of spot.

    What helps is the quantity. If you were just offering me under 10 or so I would be back 40¢ of spot.
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭
    Originally posted by: bronco2078

    Originally posted by: CAcoins

    It also depends on what dealer you are selling to, for example APMEX is paying spot - $0.30 but a local dealer would probably be paying spot - $1.00. Keep in mind if you are look g to sell them on eBay all the fees. In my opinion selling them to a bigger online dealer would be your best bet.






    Better to take the -1$ and get paid cash





    Assuming one has a local willing to put up the $7500 cash.
    theknowitalltroll;
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭
    Originally posted by: baseball

    Some random thoughts:



    -Generics can always be melted and turned into another form of silver, including ASEs.



    -At least in my neck of the woods (a populated area), getting much better than $1 less spot should not be a problem.



    -The spread on generics is usually lower, in my experience, than the spread in ASEs (though I do like ASEs). In fact, I find dealers in my area that want to pay spot on ASEs and charge up to $4-5 over spot for them. Those same dealers usually have around a $2-3 spread for generics.



    -Selling silver is a huge pain in the butt because of the weight that accompanies any serious monetary amount of it. The notion of selling them on ebay or shipping them to APMEX is one I personally would find very undesirable.







    Who wouldn't want to pay spot for ASEs? Only a maroon would sell them to a dealer for spot. Then again there is no law saying that you have to pay a certain price for them. As a rule tho, the premium set by the mint tends to persist in the marketplace.

    No big deal to ship 400 coins to APMEX in a regional rate box. Mite cost up to $30 or a shade over $.07 per coin. If it brings you an extra $.25 over, it's worth it.













    theknowitalltroll;
  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭
    Originally posted by: baseball



    -Selling silver is a huge pain in the butt because of the weight that accompanies any serious monetary amount of it. The notion of selling them on ebay or shipping them to APMEX is one I personally would find very undesirable.







    WEIGHT is my PRIMARY reason for avoiding silver.



    I...just.... put my back out a week ago moving just a few hundred oz.



    To preserve WEALTH, use gold. IMHO



  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    Originally posted by: topstuf

    Originally posted by: baseball



    -Selling silver is a huge pain in the butt because of the weight that accompanies any serious monetary amount of it. The notion of selling them on ebay or shipping them to APMEX is one I personally would find very undesirable.







    WEIGHT is my PRIMARY reason for avoiding silver.



    I...just.... put my back out a week ago moving just a few hundred oz.



    To preserve WEALTH, use gold. IMHO







    the weight of silver doesn't bother me as much as the volume.



    one of the many reasons I prefer rare coins, and also gold and platinum

    Liberty: Parent of Science & Industry

  • jmski52jmski52 Posts: 22,850 ✭✭✭✭✭
    A certain amount of silver is your friend.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • jdimmickjdimmick Posts: 9,676 ✭✭✭✭✭
    Tops tuff is correct,

    More and more of my silver buyers will only buy eagles I cant give genric anything away any more, they just don't want it at any price. I usually have to ship it out
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,293 ✭✭✭✭✭
    I have no answers.
  • Why not just buy iShares Silver Trust (SLV)?
Sign In or Register to comment.