Silver Bullion
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A buddy of mine buys and sells a lot of silver including bullion products. He said the online companies where the product originated are usually not as proud of the item when it is time to sell it back. I have seen some of the local coin shops buy for spot or slightly better when the demand is up..... 0 -
Be hard to sell for more than "spot" price for that day. Maybe a buck or more above. 0 -
It is difficult to get the spot price when you sell. The online bullion dealers discount the spot significantly, just like they charge a premium when you buy from them. The best dealers, such as JMBullion, will list their buy-back price on their web site. If it is bullion you hold, then don't forget to factor in the cost of insured shipping to the dealer. 0 -
I have dealt with APMEX for about 15 years but only for purchases. They also give daily spot, sale, and buy-back prices. 0 -
I have purchased both gold and silver... and sold both.When I purchased from a dealer I paid spot plus a premium (10%).
When time came to sell, the dealer offered me spot but again he wanted to charge me a premium (10%). That's how they stay in business.Since prices had increased substantially I could have sold to him, even with his premium, and made money.However, a lot of people out there would like to own some gold and silver. So, I advertised on the CL place and sold every ounce that I willing to part with, at spot!Win/Win!
The seller,(me) received spot price while paying no premium and the buyers paid spot price with no premium.
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Sell it oh Flea Bay and you should do fine.They are asking for over 4.00 dollars over spot and that's for 100 ounces of bullion. The premium is way too high right now.You should make a killing if you can post it on Flea bay now.
serf
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If you sell through CL, arrange to meet the buyer in a very public place like in front of a police station to avoid being ripped off. And cash only. 3 -
A short time ago when the bottom dropped out of the price of silver for a short time I tried to buy some. No way could I get any for anywhere near what the spot price was. I had been buying silver & a little gold for quite some time from barf-Bay but now that they charge sales tax the price is too much. If I lived close to you I would be very interested but shipping costs would probably cost too much. 0 -
Spot price is the medium. If you are buying normally you you are paying over. When selling to a dealer you are getting less than spot.
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PUT UP AT A PENNY START!!!
I'll be bidding, I bet it goes over spot.
:-)
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A local coin shop offered me 6% less than spot for 100 ounce bars. Were I you, I would make a call or two if you have local outfits that are in that business.
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Local dealers in this area are trying to pay scrap or $2 under spot. I am leaning toward fleabay or CL. 0 -
trade dollar for dollar in ammo better investment right now 0 -
I hear you mac10.
All the $$ I had available for bullion, has long been invested in my house, (long paid for) weapons, ammunition, and food. Etc. I'm covered.
I'm ready, when everyone else gets ready/fed up with the current situation.
Cling2myguns, sounds like an enviable position to be in. I would like to meet and have a meal at some point. Ridgewood?
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KenK/84Bravo said:
I hear you mac10.
All the $$ I had available for bullion, has long been invested in my house, (long paid for) weapons, ammunition, and food. Etc. I'm covered.
I'm ready, when everyone else gets ready/fed up with the current situation.
Cling2myguns, sounds like an enviable position to be in. I would like to meet and have a meal at some point. Ridgewood?
We do need to meet up. Ridgewood would be great. I have been over to your area around Mountain City several times, out for drives on the Snake. Beautiful area.
I'm set now for ammo etc, replenished what I sold to move, several months ago when prices were low.
I would rather not part with the silver but am trying to build on my farm and so far everything has cost more than I budgeted, especially the land itself. It's surprising how much more expensive certain things are here than back in IA. Rock is one, which is ironic as it is more readily available. $500+ for 20 tons here, about $350 for 20 tons there. Electric service cost me $1500 to be run to property there, $4300 here. And I am just getting started. I just want to get back out to living in the country. Renting in Jonesborough isn't terrible but I need to be out on the land again.
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Ridgewood! Did someone say Ridgewood? 0 -
Butchdog2: 31541635684123/comments/31541696841371
Ridgewood! Did someone say Ridgewood?
Don't worry Ed. If we line something up, I will give you a call.
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I've noticed the same. When the spot price drops significantly, the seller's premium goes up enough to put the cost pretty close to where it was before the drop. 3 -
Well I had a dollar cost average of $16.16 per ounce purchased over the last year. Just sold 100 ounces for $20 per ounce cash. Decent return for a short term investment. 0 -
You did good. 0 -
thunderbolt said:You did good.
Personally I would have taken a low interest loan out before selling hard assets in the economical climate we are in.serf
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