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Generic silver round sell question
Bigbuck1975
Posts: 1,249 ✭✭✭✭✭
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.
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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.)
Got quoins?
They are selling for more than spot on ebay
Give Me Liberty or Give Me Debt
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
Give Me Liberty or Give Me Debt
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.
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?
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 - $1.00. Keep in mind if you are look g to sell them on eBay all the fees. In my opinion selling them to a bigger online dealer would be your best bet.
Better to take the -1$ and get paid cash
What helps is the quantity. If you were just offering me under 10 or so I would be back 40¢ of spot.
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.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
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.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
-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
-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
I knew it would happen.
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