Danke
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Been conducting a lot of raids, eh?
Physical Gold and Silver shortage
- Thread starter pmbug
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Danke
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Sell it? I'm enjoying it! It takes a lot less out of my stack now for hookers and blow.
Danke
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If you need the money and don't want to sell for what they are offering, you can use it as collateral for a loan.
vita3
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Clean your BONG dude.
Danke
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Just trying to be helpful, dude.
BTW, I suggested this to another member in early October. They'd be up 30% now.
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CaptUSA
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That's kinda always been the case, though. I had a guy that used to buy at 5% below spot, but I haven't tried to sell for years.
I'm in a pretty good financial position now, so my hope is to never sell it and let my kids take it without any tax. It'll be a happy day when they open the safe.
vita3
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Thanks Captain. Don’t need to sell, but learning about the current dynamics in selling is super fascinating to me.
Let’s call silver $63 OZ right now, I would think about a 3% take would be reasonable. That’s roughly $61 smackers. haven’t seen anybody close to paying that..
Let’s call silver $63 OZ right now, I would think about a 3% take would be reasonable. That’s roughly $61 smackers. haven’t seen anybody close to paying that..
Today coin shop in North Vernon In is buying 999 silver , ten oz and lower at 90 percent, so at 63 silv 56.7 , small quantities ok, i'd consider that fair if i wanted some cash. personally i wouldnt consider 3 percent as acceptable unless it was a huge quantity, not enough return to tie up the cash.market is completely dead on 10 percent , 35 percent, 50 , 73, 80 except one doll pre 1967 canadian, 83 , 925. Nobody wants it , i wouldnt try to sell any but realistically an offer of 45 percent or more id consider good. on 90 percent largest wholesalers are almost 6.oo an oz back on buy so local shop selling it same, if your selling dont expect more than 30 times face where i am, nothing is being able to be sent out for same month payment other than 999. modern proof silver is 6.00 back on buy from dealers to wholesalers so again i wouldnt expect to do better than 30 times face. basically any silver being bought now probably isnt going to have a chance to be turned quickly except 999 , This is the largest glut of silver ever knwn to man, ive no idea if it will clear out going into summer
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pmbug
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Retailer offers are based upon what they can get selling to the wholesale (or refinery for scrap/melt) and right now refineries are backlogged and only buying at deep discounts to spot. The wholesale and retail markets have a glut of "retail silver" while the COMEX/LBMA are facing scarcity for 1,000ozt Good Delivery bars.
Your best bet to maximize value on a sale is to do a direct sale with a buyer either face to face or in a peer to peer marketplace.
Just my 1/2 dollar collection . one ea of 1892- 1963 . duplicate of ea 1916 -1947 , few more duplicates and one ea type from mint beginning to 1891 comes to nearly 225 ounces of silver. I spent maybe 8 yrs working on 1790s to 1915 .It was a lot of fun. During one 42 yr period of 45 I pd tax on about 1.1 million income ( I know seems laughable these days) , pd in about 170k social security and medicare , but also saved about 9 percent or about 100k in coins ( really 3 times that but I sold about 1/3 and gifted 1/3 to kids and grandkids )
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