How to SELL Your Silver Eagles and Other Silver Bullion!
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- Опубліковано 18 чер 2024
- How to Buy Silver is talked about all the time and covered by numerous channels, but not too many videos come out explaining how to SELL your Silver if it's time to sell!
In today's video, we talk about all the different ways that you can sell your Silver if you need to! This video isn't about the Silver Price, and it isn't about IF you should sell your Silver, it's just about how to do it if you need to!
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Credits:
How to SELL Your Silver Eagles and Other Silver Bullion!
• How to SELL Your Silve...
#silverprice #silver #howtosellsilver
Table of Contents
0:00 Intro
0:33 Selling Silver at Local Coin Shops
1:58 Selling Silver to Online Retailers
3:37 Selling Silver Directly to other Silver Stackers
5:36 Selling Silver on eBay
7:14 Final Thoughts and Wrap-Up - Навчання та стиль
You missed one of the best methods. Taking a table at a local flea market or possibly even local coin show at the mall or somesuch. A table at a flea market would run about $20. You could even advertise in your local trade paper or such that you are going to be selling silver eagles (or 90% etc) at said flea market on said date and get the best of both worlds as the craigslisters etc typically would be fine with meeting at a flea market.
Good One! Gonna pin this message :)
Cost for my local Flea Market. Monthly Space: $37 - $45 per space, per week. Selling 1 AE a week at the market almost covers that cost.
@@SilverSeeker we have a platform in the UK called the silver forum that has no fees and international pages for the US and Europe but needs publicity in these areas as its not used currently. Users can leave feedback for transaction building trust within the community and can use PayPal or bank transfer depending on the demands of the parties involved in the transaction. Care to do the stacking community in the US a favour and cast some light on it?
Wow nice! Never thought of this!
Coin shows are a lot more than $20 for a table. Sometimes, you're talking about several hundreds to thousands of dollars. Long Beach is a really expensive show to do in California.
North Utah has terrible LCS’s. Our silver community dips into NV, WY, or ID since were within an hour of all three. Salt Lake is ok but smaller towns get robbed
You ever been to The Gold Ore Store in St. George?
@@Cowboy.underwater I haven’t lots of my family retire down there and wife and I want to check out the Shakespeare festival. Is it better than dipping into mesquite or Vegas?
All about coins screw you on buying coins but they also have really good prices on selling coins bought a few under spot the other day
We have the same problems with these very high premiums.
@@TheShmeebitdog They have a great selection too compared to others in SLC and Utah County.
Always a great program Seeker never miss your shows and find it VERY informative
Good presentation Seeker. Thank you for the information.
I appreciate you mentioning meeting in front of the police station. It's also worth noting that some police stations have rooms set up for this exact kind of thing where the buyer and seller can meet and feel completely safe. Thanks!
Yeah police are going to keep anyone safe it's the other way
Actually, even if you just say you want to meet at a police station "parking lot" you'll get a good idea if they are for real, it's not how they actually answer the question, it's how they react to any question. (Watch for both) 👍
St Joseph Missouri has a place for exchange in from of the office and I know they would let you meet someone there, we have an awesome police department
I'm very proud of the job they do keeping this city safe.
@@Smallwineries that I can agree with
So what I do to find a good honest coin shop is ill take in a handful of silver necklaces and chains, around 10 or so and ill throw in 1 white gold chain that blends right in, ill ask them how much silver I have and get a quote on value and how much they would offer me. I did this in spokane washington and 8 out of the 10 places didn't tell me about the gold necklace, so right there I narrowed my search to 2 shops, I took 8 morgan silver dollars and threw 1 cc minted Morgan and out of those 2 1 shop recognized and told me about the cc. That was my coin shop for years after that because of their honesty. Moral of the story is be honest because you make more money with returning customers rather then getting one over on them.
Great video ,very Informative, Thanks
Great video thank you 🎉
Thanks for the info
Being a beginner, purchaser , I am very grateful. Great information lean facts about how to.
Very informative video, thanks.
Thank you for your info
Great information to help make informed decisions on stacking and financial security.
Great info.👍
Very Interesting , Excellent Advice ! 👍
very helpful
I remember watching your video on when you called coin shops to get prices on coins.
Silver Seeker. This video was awesome. Great job man and very well organized. Now go buy yourself an Adult Happy Meal at McDonalds and don't forget to bring a horse blanket note with you to pay for it. Loved that video as well and you almost freaked out when they were about to take it as payment. Good stuff man.
I remember in one of your videos, they said spot for American Eagles, and one dollar less than spot for silver rounds
I keep all my invoices for future sales. All dealers want to purchase coins back when you’re ready to sell. This guarantees at least one realizable source!😅
Trading at the tops and bottoms of the gold silver ratio has long been the staple of the patient stacker.
A new ratio some are using right now is called "cycling". Cycling is rotating out of SAE and into rounds,
to play the premium arbitrage.
Selling my silver eagles brought me back into precious metals. I bought 110 Eagles when they were less than $20 years ago. I remember being very angry at the premiums. I forgot all about them until last year when silver was that 2550 I believe. I sold them took the 2000 and put it in the bank and I took the Thousand I had left over and generic buffaloes. Realizing how much I made from the Eagles and I think four years. Has silver price drop below 20 I acquired 400 Oz. Also 11.75 oz of gold.
The math is not exact I remember I had enough money for exactly 40 buffaloes at that time so I'm thinking I paid 28. Yeah even now premiums on the generics have gone skyrocketing. You'd be hard-pressed to find generic buffaloes for 250 over spot but at that time that was about normal. This is why I started switching to Gold because the spot went down the premiums went up. Where if you do the math even fractional gold is less than a generic one ounce round right now in premiums
I always figured it will be a headache selling silver.. And I'm researching on if it's text. /reported to the government etc. And that it would possibly take away any profit at all.
As soon as you get paid on ebay paypal- ebay deposits your payment directly to your bank no exceptions You will end up having to take less than you want plus pay seller fees and create a tax income document. You must declare all ebay sales in your return even if you consider yourself 'not' a store or professional seller.
I recommend inside the police station lobby. It is the smartest and safest way. If they decline, then it speaks for itself. I have always recommended this. Thanks for putting it out here!
EBay is around 13-15% now I think. Thanks for the video!
The silver forum is an ideal trading platform with no fees at all but it need publicity outside of the UK
Im Subscribed Lol...I do have some silver id like to sell But, The idea for selling is to wait for it to go up...But, the Last year it seems like a roller Coaster
I have subscribed at least 10 times and everytime I access your channel, I see that " YT" has "un-subscribed" me. How to fix this?
Yeah Ebay Charges 12.9% for selling bullion. Then you also have shipping as well. You have a $.30 final sales fee as well
Awesome
I have some paper Euros that my Dad gave me from his recent trip to Europe. He should have changed them before coming back but he did not. My bank (Wells Fargo) is in the middle of upgrading their way of handling foreign money and won't take them for a month. The current rate for a Euro is 98 Cents. I thought I would try the pawn shop in town. They said they would take the Euros at 50 Cents. That is only half what they are worth. So I asked the guy what do you pay for American Silver Eagles in BU condition. He asked if they were graded and slabbed. I said no but they are in Airtites. He said he would only pay Bullion price, Spot Plus $3. I realize they are a business and need to make a buck but to low-ball me that much is not right. I of course did not sell to him.
Just found these videos I already own siver any comparable channels for Gold
Just wanted to let your viewers know Gainesville coins has a great deal on buffaloes... 22.29 am ounce.. also Walmart deal through Apmex horrible even with the 5 percent off!
What happens to the valuable slabbed numismatic Gold Coins? Some of our Country's earliest Coins from the 19th and even 18th Century? How will those be valued on the other end of this "Great Reset transfer of wealth" Surly, they won't be valued at just their gold weight... Will they? Thank you kindly in advance.
Any good auctions other then eBay to buy bullion
eBay is great to buy from,not so much selling….
I strongly feel that "E-pay"... is the most infected scam. Make friends with like minded stacking family members. We take care of each other and pay maximum premiums. Quick cash sales? This is the video for you! I love this channel!
I went to a pawn shop to see what they would pay for 10 rounds AMX
They offered me $3 below spot I laughed and said do you charge premium's to buy silver 🥈
Pawn Plus in St Joseph Missouri will rip you off fast!!
I asked if he had any coin's for sale but he said he didn't have many
Just some overpriced common silver dollars
I told him thank you but I don't think so
Great advice
Take them to a local coin club.
Our local group you cam put a reserve or no reserve. No reserve has the opportunity to bid one time to protect your lot.
Collect money at the end if the night.
Sell on UA-cam.
I’m looking to sell just to put a down payment on a house. Any tips
The risks for selling to a facebook group or other social media is almost non-existant. The risk really is on the buyer. As a buyer, you have to be really careful, there are lots of scammers out there. In good groups, scammers get flagged and ejected quickly most of the time before they manage to sell anything. But as a buyer, only buy from recognized and well established sellers to put the odds in your corner.
APMEX is selling Liberties at $17 to $25 over spot. 11/28/2022
How does the sale of monster boxes go? Sealed box so do dealers go by the strapping and label or do they want to crack them open? Some years go for more especially pending mint and some are no mint mark but coded on the label so you wouldn’t want to have a peek unless guaranteed price I’d think?…
I’ve wondered the same.
They'll take then strapped actually, those straps aren't removable without cutting them but I suppose there is a chance they can be faked! I'll try to get more info!
Don't sell to retailers, sell to other stackers amongst the community. The silver forum is an ideal platform but it needs more publicity outside the UK
Craig's list so far are low ballers. Some clown wanted uncirculated, still in wrapper for $2 over spot. GFYAH!
@@Pfsif take a look at the forum and spread the word. Fee free trading on silver is a powerful thing
Selling my sliver which is better coin show or coin shop? What are the pros and cons? Thank you!
So why no enter the lcs and sale it for $9 over ?
Hold the line don't sell !!
These numbers can be misleading because sellers don't want people to know ahead of time that their Premiums are $7 or more! You know California just has to be higher!! If all had responded, those # would be significantly higher and yellow would be nearly gone!!
Does the coin shop actually pay you in cash? I heard they pay you with a check. If you sale to the coin shop do they report it to the Government?
I’m a big fan of r/pmsforsale been using it to buy/sell for about 2 years!
3:10 crazy how different it is right now. +$3.75/ounce!
I'd prefer to sell to another stacker. I use IG. I ask for references if I haven't dealt with the person or haven't heard of the other person before.
Hey SS can you put a link to the gloves you use to handle your coins.
They just look like standard black nitrile gloves. You can buy them at your local Harbor Freight.
Correct they're black nitrile gloves. I'll get you a link to the exact brand next time I'm in my studio.
@@SilverSeeker thanks. I’m sure if you use an affiliate link to Amazon a lot of viewers will use it. I’d be happy to buy them if it will benefit the channel. 👍
ebay consistently charges me 13% plus the shipping costs
If I sold online I would have to sell locally and meet face to face.
eBay is 13% plus other fees.
How can I sell silver for something other than the fiat petro dollar which is loosing value every day.
Is it better to buy coins rather than bars? Does it matter. I might do coins for the novelty.
Odie???
I am a precious metals stacker, l just wish I had more.
The price per oz is what you can get for it not when you buy it. So like gold it sells 2000 oz. You can sell it for 400. So what is the real price.
You can sell Gold for WAY more than $400 per ounce LOL... In fact, I'd buy every ounce of Gold you have for $1800 rightt now... send me an email lol
Silver is so underpriced its ridiculous. If gold is 2k a oz silver should be 1k a oz. I would argue with electronics taking over its demand should drive it at least that high.
I feel like you tried rushing the whole video silver Seeker did you have something to do after the clip you posted
I didnt rush it had plenty of time... doesn't seem rushed to me
👍
They don't even need to worry I have the algorithm set up for me!
I win them all
There ALL MINE 😆😂🤣🥈
First comment. 🇺🇸
🏁🏆🥇👑🍪👍
Nice
I was talking about the Coin shop. So your stores are paying 1800. And your buying 2000.
Except that's still not accurate... store near me is selling Gold Eagles for $2115 and buying for $2052. The shops have to make something my friend. That's why I'd buy everything you have for $1800, because I'd walk in there and make over $200 per coin. :)
www.scoins.com/pricelist/tradingsheet.aspx
@@SilverSeeker I'm in nc. They aren't paying 2052 hear .
Sell online then... online dealers are paying over spot for 1oz Gold Eagles atm.
Did you say just call silver seeker if your looking to sell because seeker paying strong on all silver and Gold? 😆
I got a better idea.... don't lol
Don't forget the "taxes" you will pay when selling
You pay capital gains taxes on profits... but either way I'm not a licensed tax professional so I don't cover that on this channel other than VERY simplistic info that anyone can read online.
Great info, but I also don't see any stacking channels talking about the capital gains taxes you're going to owe to the IRS for any of the profit you make selling coins. Any reputable online shop or LCS is going to report your trade. Think you can do a 1031 exchange? Not anymore! Thanks to the "Tax Cuts" and Jobs Act passed in 2017 under the Trump administration, that's no longer an option and now you get to pay taxes even if you're bartering! Good luck figuring out how to calculate your cost basis with all those receipts you didn't keep...
I am not a licensed tax professional and am in no way qualified to give tax advice so I don't... yes I know all about taxes on PMs though.
Silver is so underpriced its ridiculous. If gold is 2k a oz silver should be 1k a oz. I would argue with electronics taking over its demand should drive it at least that high.