I sold over 500oz of silver in December before the price rise and I don't regret it. I had the opportunity to buy a house for cash. My stack was to big to move around with me and it made me nostalgic whenever I'd pull it out...Now I have no rent and I don't care that the price has risen because I'm far better off.
@@limbuel It was definatly easy to sell last December. I sold it in a local sales site and for the next week people rang daily and paid full premium for what I had.
I did the same thing to buy an oceanfront vacation condo and in 8 years since purchase my equity has increased nearly 200 thousand dollars. The money from my precious metals sale, added to my cash made this possible. There is a time to buy and a time to sell and a time to pass it to your heirs. I still have quite a bit as I rebuilt some precious metals since then.
Was forced by my siblings to sell my dads coin collections once my he passed. Wish I could have kept it, but debt is an issue for my siblings. I did get more than expected, so I picked up a few ounces of silver to make up the difference and keep the tradition going.
When I work on my estate plans, I want to be sure that my PMs go to my son, who very much appreciates the need to stack and hold PMs outside the financial system. My daughter, on the other hand, it totally oblivious to this need and would sell them ASAP to get cash to spend. Because of this, she will get more cash than he gets but he will get the metals. This will go to my wife first but she knows where I want it to go from her estate. I know that I cannot hold her to this with legal means but this is more in the realm of honoring a final wish from a beloved spouse after many years of devotion and caring. She will do as I ask with this and there really isn't any reason for her not to do this. We have more than sufficient assets to support her comfortably for the rest of her life and to pass some on to our kids and grandkids.
I inherited many pounds of silver. Not life-changing money but certainly life-enhancing. I am only too happy to put it in the hands of people who will value it, but I do not want mine melted down. I’d think collectors might appreciate that.
Used some for a down payment on a house about 12 years ago.. Quickest exchange to cash in memory. You really learn the difference between real money and fiat in moments like that.
@@edb3877 Not only did the metal quickly increase in value it exchanged for cash quicker at a shop than any other item exchange or even a bank withdraw. They whipped that stuff right out with a smile.. it was then I knew what I had. I was just a kid with a few eagles but it turned out I'd timed things right on top of that. The house also quickly more than doubled in value. Sell, rinse, repeat.. If I'd banked my earnings instead of buying metal my dollars would have only lost value.
Me neither. My silver feels a lot safer than the numbers in a bank account, not to mention the imminent digital conversion that will make currency obsolete. They can't do that with silver or gold
I just sold some regular silver rounds today for $28 each in Maryland. I thought that was reasonable. I sold most of mine back like 10 years ago when silver was pushing $50 an ounce. I had a feeling that price wouldn't last and I was right. I would think that the obvious answer as to why people sell silver is "because they need the money". There isn't always a long term, deeply thought out financial approach to selling things. You sell what you have when you need money.
@@wesleyt4109 No, not really. There was just something else I wanted to buy and I had a stack of rounds. I'm always on the lookout for them. Bought a bunch a few years back when the price was hovering around $15 an ounce. Since the pandemic, it seems the price is pretty stable around the $25 range for the foreseeable future. It slipped below $20 last year so I was more than happy to get $28 for them today.
I have sold a little bit of gold at one time and was asked why I was saling it and I just told him I was up on it. My personal reason for saling it was as much as his business as a bank wanting to know why I'm withdrawing. I had bought them from him and his shop along with the majority of my stack.
Banks will absolutely ask why you are withdrawing large amounts of cash because they have to report it. Coin dealers are always worried about getting robbed or ripped off -- they look you over before they unlock the door etc. Being nasty is not a good way to go.
@ssl3546 Obviously your speaking of an amount I don't keep in the bank because I have never been questioned with taking out a thousand or two thousand dollars. I don't let my savings accumulate in currency that's designed to depreciate and rob everyone.
Great interview, I’ve bought and sold to Kieth back in 2008 when I lived in Michigan. I remember him to be very honest and on the level, friendly, knowledgeable and happy to steer customers in the right direction. One of the nicest and most patient brokers in the business.
I was in hock shop yesterday the owner is buying silver at spot and he said it was crazy day people selling more than buying , his cabinet was full silver to sell
I converted the majority of my bank accounts to precious metals a year ago. No more stocks, no more bonds, no more cash. It happened in increments. Post Brandon my stocks tanked, converted to bonds.... Bonds tanked, converted to cash.... Inflation began, converted to metals . 2/3 of my stack is my "savings account" storing my wealth for the future. 1/3 is "cash on hand" being held in metals to protect its value. For example today I sold several ozs at a 13% premium over last year to buy tires out of my "cash on hand" stack. My stack had served it's purpose of maintaining monetary value against inflation.
the dollar is at a 20 year high under dark brandon...go to a business channel and educate yourself. The BRIC countries are all 3rd world countries except China. Problem with china is the yuan is less than 3% of world reserves (65% for the dollar) and the Chinese do NOT let the yuan float so it will NEVER replace the dollar.
Love your show. I watch a number of silver videos. Your charts and calls gives me a more indepth knowledge of the silver market for the stacker community.
In reference to the last part of the interview, if you have to sell some of your collection, hold onto your junk silver last if you can. From what I'm seeing it has the highest buyback price over spot.
From what I am seeing, ASEs have a significantly higher premium than do US 90% silver coins... about double, in fact. But I do agree that US 90% silver coins also have gone way up in premium cost compared to what they were a decade ago when I was buying them for my stack.
My junk silver and my coin collection is the only silver I wouldn't be willing to sale. Will pass it down to my kids and hopefully one day they have an interest in the history behind it.
During the “Silver Squeeze” in 2021, I sold some of my stack to help with the down payment on my home. If the price is right, I may sell some more, or actually trade in for gold.
And here I just sold some of my silver for the first time last week. I can't say it was for one of the D's though, maybe "decluttering" in my case. I had decided to streamline my stack by getting rid of the rounds that I only had partial tubes of, ones from earlier on in my stacking days when I would only get a few at a time whatever was on sale.
These things he said about buying and selling selling are good to keep in mind as that's what a robust, equitable, market is all about like in any business.
Funny this video came out the day I sold $40 face of halves and a 1/4 oz gold eagle. I'm a total contrarian - I bought when no one wanted the stuff and I'm selling because I've got a lot and a small amount to sell is really no biggie for me. I want to keep my cash high as I think the risk to the banks is real and I don't want to be selling my gold or silver when everyone else is selling - that won't be helpful and probably will drive prices at the local level down.... but that's just my opinion.
That's just as good as anyone else's opinion. 👍 I don't share that opinion but that's OK. The world is a really big place and there is plenty of room for many points of view. Thanks for posting that, though. It's good to read about what others are doing with their stacks and why they are doing it. I'd like to make a substantial gold buy sometime soon and a price pull-back would be quite helpful with that. 🙂
@@edb3877 I would wait for premiums to come down...they are ridiculous and sre the reason I was ok selling since I got some of those premiums in return
@@freeman7296 OK, thanks for the reply. I misread your original comment. I also would be tempted to sell some silver in a high-premium market, especially since most of my stack was bought when silver was $15-$16 an oz. and premiums were $2-$3 an oz.
@@edb3877 I don't think I was clear actually...the way I see it - certain types of PMs are in super HIGH demand - fractional gold eagels are selling for WAAAY higher than normal and well above spot - as is junk silver. so I checked to see what my LCS was paying given the demand - and it was pretty good - so per my original comment - I like to sell while others are buying since that is a nice return on PMs I bought at a much lower price, sellers are not too common so I'll get that good return as opposed to when EVERYONE is selling then I'll be lucky to get spot and I get my cash position back up to where I prefer to be - I think a serious credit crunch is more likely right now and cash is important... hopefully that explains my position better without writing a book.
I was at a coin shop today that buys silver rounds one dollar below spot and sells one dollar over spot He was selling silver rounds for 26 bucks today best price around
Because there's TONS of it!! Trust me my buddy lives in Arizona and he has a silver vein that is running from the mine next door and he followed it and he said its like lighting and it goes back the this mine that's not mining the silver and the vein goes for far as your eyes can see. One morning he walked his dog over a mile and followed it and it went to a massive vagina looking crack about 8 feet long and on each side of it is 10 feet wide silver vein coming from under ground it splits of 2,000 different spots and the bottom end goes onto his property. He he owns a water filtration company and he's got hige pumps to pump up water amd filters it for the locals, he's said there's MASSIVE DUMP TRUCKS FULL!! He talked to the owner about the end of the vein on his property and he was going to jack hammer it and melt some down for his family and they went on the maps and spray painted a line over the vein and he said have at it lol he said he even moved the line over a foot extra so he can have that much more to avoid any conflict and to be cool, he said he's not mining it until silver gets over $100 an oz....Colorado has a Mountain FULL of silver and the neighboring town and houses voted against leveling the mountain because there is that much silver in that mountain, they made a road into this mountain the entrance thats 40 feet wide and 10 feet tall and are mining this mountain where it doesnt get demolished, Mexico has mountains full of it!!! I own several silver and gold mines and they are lying about Silver being like 80 ounces per 1 oz of gold, I see all the drill tests!!!! Its more like 900 ounces of silver for 1 oz of Gold!!!! Gold miners are switching to mining silver because Gold bearing ground is becoming more and more rare!!!! You can download the broker Webull, it's an AMAZING broker for stock trading by the information it gives, you can go to the HUNDREDS & THOUSANDS of different mines and you click on the news tabs and you can see ALL THE DRILLING RESULTS THEY POST EVERY 3 MONTHS!!!! THE SILVER TO GOLD RATIO IS INSANE!!!! THEY WANT US BUYING SILVER AND NOT GOLD!!!!! TRUST ME BUY GOLD!!! THEY HAVE BEEN SHORTING GOLD HEAVY THE LAST 12 YEARS SINCE 2011, NO LIES!!! HOW MUCH MONEY HAVE THEY PRINTED IN THE LAST 12 YEARS??? LIKE I SAID DOWNLOAD WEBULL GO TO ANY SILVER OR GOLD MINE AND LOOK ON THE NEWS TAB THE DRILL RESULTS ARE RIGHT THERE IN ALL OF THE MINES!!! IN FACT WHEN THEY DO THESE LEECHING MINES THEY HAVE THE CHEMICALS MELT DOWN ALL THE SILVER AND GOLD DOWN INTO THE HONEY LOOKING AREA AND THEY PULL THEM OUT AND THEY ARE SOLID SILVER LOOKING MASSIVE BRICKS!!! THERE'S GOLD IN THE BRICKS AND A DECENT AMOUNT BUT ITS 90% SILVER THEY SEPERATE THE METALS ELSEWHERE!!!! I PROMISE I'M NOT LYING!!! THEY HAVE SHORTED GOLD SO HEAVY AND LET ALL THE GOLD MINERS GET AS MUCH GOLD AS THEY CAN WHERE GOLD MINERS ARE SWITCHING TO MINING SILVER AND GETTING GOLD AS A BY-PRODUCT!!! BUY GOLD AND BUY IT WHILE YOU CAN!!! GOLD WILL SOON BE A VERY RICH MANS METAL AND WE WILL ALL BE STACKING SILVER AFTER TRUST ME WE WILL HAVE PLENTY OF TIME TO STACK SILVER!!!! BUY GOLD!!!!! BUY IT ASAP!!!! YOU CAN SEE SIGN UP HERE AND YOU GET FREE SILVER THEY ARE ALL OVER! IF IT WAS RARE THEY WOULDN'T BE GIVING SILVER OUT FOR FREE!!! BUY GOLD PEEPS! SILVER STILL IS LOW FOR WHAT IT DOES, WITH THE VIRUSES AND BS WE ARE GOING TO MAKE SILVER WARE THAT'S ACTUALLY SILVER, THERE WILL BE A SILVER SPRAY THAT COATS COUNTER TOPS WITH TO KILL ANY GERMS THAT TOUCH IT, SILVER WILL BE IN VERY HIGH DEMAND STILL!!! BUT GOLD IS RARE, THEY USED IT ON TOP OF THE PYRAMIDS AND USE IT IN SPACE, GOLD IS A VERY SPECIAL METAL!!!
@@miketyson8933 both are special in their own way. as for gold, the expeditions to remove gold from the atlantic ocean are massive china has made special equipment and has yet to pull the ship wreckage gold, silver, gems and more.... theyve invested more zeros than i can remember, it wass trillions several years ago..... thye deem the shipwrecks world changing, for a reason..... found gold and silver in atlantic ocean is whos exactly?????? where was it heading, was there a promissory note for contents of the ship? interest on that ship contents???
The only PM's I have been buying lately are vintage piece. Overpaying for some but that happens sometimes. If the time comes to sell my hooe is someone else will like to pay more than I did.
I only have 2 reasons why I might want to sell some silver: 1) to sell off some things that no longer fit well with my overall approach to stacking; or 2) to get some cash for an additional gold purchase. I have other assets that I can use for most any unexpected bills or other problems that could be fixed via the use of some extra cash. Other than these two reasons, I am holding onto my silver stack for the foreseeable future. I do have some 5-oz. SilverTowne Prospector bars that are pretty cool for those who like bars that I want to sell. This would be 200 ozs. of silver and I would definitely be using the cash from that to buy some 1/4 oz. gold coins, either Maples or Britannias. Yes, I know about the higher per oz. premiums on fractional gold but want the flexibility they offer in case I don't want to sell a whole oz. at a time. The extra cost of the Britannias is fairly low when compared to Maples and especially to Eagles.
10:18 If someone asks why, tell them it’s none of their business. Or tell them it’s personal. Your coin dealer, banker, whoever, has NO business asking why you wish to conduct a business transaction, and YOU have no obligation to disclose why.
The local surveyor used to deal in rental properties with sitting tenants and he said the sellers of those properties usually sold for the four Ds. Divorce, death, debt and .... duh, I forgot
I've got one question and I've never seen anybody answer and this point in the video was a great example. What if you had 100 ounce bar but you only wanted to sell a percentage of it would a shop trade you the silver and then compensate for what you want to sell 9:49
Depends on the shop. Most shops I know wouldn't, but a couple would. One shop I know up in NH would and has done something similar for me. It's all about making solid relationships with particular shops.
all my friends are selling down too, but we are selling our other metals first silver is next, I am a scraper so we get a lot of short steel, Alum, Brass and copper the economy just sucks to we have to sell just to keep our head above water and not lose anything I have seen a lot of friends paying off their house and car, F*** credit cards they are unsecured debt ....
Please keep doing interviews with Keith. Keith is very clear and easy to understand. He is way better then that guy from Mid America coins who just tells stories that only a select few want to hear.
i own some silver gold and platinum however i dont see the point in holding onto it forever. Sure you might wanna pass it down to your kids or use it as a hedge against inflation but the premiums are way too much and i actually sold a few oz and made a profit. I bought in 2017. Now is a terrible time to buy anything in my opinion. Very curious to see how all this plays out since the dollar has lost alot of value.
I experienced the need to sell due to divorce years ago. I didn't sell it all but I did have to part ways with some of my gold and silver to cover some costs. Thankfully that's what it's there for
Every relationship needs to be done in a way that works best for the people involved. My wife does not know how big my stack is but she does know that I have bought gold and silver for several years. I stack because neither my wife nor my daughter understand the need for stacking. A lot of what I have is for them. Maybe not to be received as metals but the asset is there for its use in case of need. My son gets it, so a good share of the metals will go to him. Unfortunately, he and his wife decided not to have any kids, so whatever he gets will not be passed down to the next generation. This complicates the situation somewhat. 😕
Same here, my son is the only one who knows exactly, but I have a couple of silver bars and some small gold coins on my desktop. My wife see it, but doesn’t understand what it is.
I've called 5 shops in the area to sell about $60 FV of quarters and every shop has offered just melt value for the 90%. One shop offered 10x FV. Are you seeing the same of just melt value on 90%?
4Ds don't have rent money don't have food money don't have money for my internet to watch silver seeker and coin crew the last D is dig a hole for my silver
Seeker this is Steve in Florida caught your video and enjoyed it thank you for doing it ya the times are making some people sell their silver things food and groceries and living supplies are just so expensive I think push people to sell so far for me I have been able to keep my stack
Personally, I’m adding around 20-25oz a week in bullion and .925 jewelry. I sell to the first buyer that meets my projected profit margin to gain a lower capital gains sales tax. I then put the profit into paying my sellers for new pieces to expand my inventory.
Thanks for addressing one of my questions, Seeker. I still have doubts about the price changing between the phone and the actual transaction. He didn't say anything about the condition. I know there is a price difference between "Retail Friendly" silver and not. My LCS told me "scratched and not-scratched". He seemed annoyed by the question and suddenly less friendly and too busy to continue the conversation. That was the first time I called him not to ask about inventory and make a purchase. In those cases, he was more friendly and had more time. I've been working the collectible market most of my life and I never see stacks go on the market. I see vintage Dungeons and Dragons being sold off on ebay by families of someone who passed all the time. Other stuff too. I never see someone's silver stack go up though. Only dealers and flippers. What does this mean? I've never heard a stacker talk about selling at a profit. Stackers don't sell. I've never walked into my LCS and seen an over-the-counter buy either. I know my sister went to a coin show with her half of the silver inheritance and got SKINNED. But I'm not supposed to know that. Shame she didn't come to me for help with that. I guess the only way I'll be convinced is to sell off half my stack, but I don't want to do that for the same reasons that other stackers don't want to sell. I enjoy my stack and I'm afraid of finding out the truth. If you're reading this, enjoy your stack, but have a well-thought-out and maybe even tested exit strategy. And a few ounces is not an effective test.
so the coin shop owner wants to know why people are selling silver to him because he is afraid it could be stolen, but if that lady or customer who bought from him in the past and now wants to sell it back to him, does he still need to know the reason why they are selling it? it's nosy to want to know why people want to sell their PMs. Ask him this next time, about customers that bought it from him and decides to sell it back to him in the future, will he wants to know the reason why they sell it back to him? I don't like to give any reason why I am selling my PMs when it comes time to sell.
I would have to assume you sell because otherwise why did you buy it in the first place? Was your goal to die with a big pile of silver or gold? Like all currency, it’s worthless unless you spend it.
Boggles my mind, that the subject of imminent Financial collapse is never mentioned! Personally, don't care if it costs over spot, the dollar is dead, eventually Silver will be only means to purchase anything. ...that point you'll wish you held.
I only sell silver if I encounter an emergency (usually debt, like if I have a medical emergency or if I lose a job or lose clients). All other reasons are called my problem and I shouldn’t sell my assets to fix them.
When the banking crises began we were flooded with orders and the order sizes were mush larger than usual. Premiums on the the most popular products like buffalo rounds went up I think 3 times by at least $.25/oz in about a 2 week time frame and delivery dates have been pushed further and further out. Once the spot price hit $26 and premiums increased to where you have to pay almost $30/oz we saw demand drop off a cliff. Volumes are are picking up again but people don't want to wait a month or more to get delivery which could play a role as well. I believe everyone is waiting for the Feds interest rate meeting this Weds. Regardless of price though supply just isn't readily available. Any demand shock like the silver squeeze or more bank failures will in my prediction wipe out existing inventories and premiums will go up and wait times will increase. This will especially be true if the spot price drops in any significant way. There are a lot of buyers waiting for the dip. Grow your stack!
I went to Katy Coins here in Texas and they had a lot of silver to sell. Many Libertads, Maples, and of course ASE. Must just be certain locations that are running out. Katy Coins is in the greater Houston area
can you ask him for that 100 oz silver bar he gave the lady $1 over spot, would he give the same for 100oz Johnson Matthey, 100 oz Maples bar or 100oz Englehart? He still pay customer $1 over spot of these as well?
I sold a few ounces this past weekend that I was sitting on since 2015. Dem D’s are dangerous. No regrets since premiums were not like they are today. People called me foolish back then. But remember, the long term wait is not for the faint of heart.
I sold over 500oz of silver in December before the price rise and I don't regret it. I had the opportunity to buy a house for cash. My stack was to big to move around with me and it made me nostalgic whenever I'd pull it out...Now I have no rent and I don't care that the price has risen because I'm far better off.
Now could be once an a life time selling opportunity.
@@limbuel It was definatly easy to sell last December. I sold it in a local sales site and for the next week people rang daily and paid full premium for what I had.
@@Stonezster Good deal! Keep ranking in that profit.
I'm stacking for a house and look forward to the day I cash out all my metal for my home.
I did the same thing to buy an oceanfront vacation condo and in 8 years since purchase my equity has increased nearly 200 thousand dollars. The money from my precious metals sale, added to my cash made this possible. There is a time to buy and a time to sell and a time to pass it to your heirs. I still have quite a bit as I rebuilt some precious metals since then.
Was forced by my siblings to sell my dads coin collections once my he passed. Wish I could have kept it, but debt is an issue for my siblings. I did get more than expected, so I picked up a few ounces of silver to make up the difference and keep the tradition going.
When I work on my estate plans, I want to be sure that my PMs go to my son, who very much appreciates the need to stack and hold PMs outside the financial system.
My daughter, on the other hand, it totally oblivious to this need and would sell them ASAP to get cash to spend. Because of this, she will get more cash than he gets
but he will get the metals. This will go to my wife first but she knows where I want it to go from her estate. I know that I cannot hold her to this with legal means but
this is more in the realm of honoring a final wish from a beloved spouse after many years of devotion and caring. She will do as I ask with this and there really isn't any
reason for her not to do this. We have more than sufficient assets to support her comfortably for the rest of her life and to pass some on to our kids and grandkids.
how much
I inherited many pounds of silver. Not life-changing money but certainly life-enhancing. I am only too happy to put it in the hands of people who will value it, but I do not want mine melted down. I’d think collectors might appreciate that.
Used some for a down payment on a house about 12 years ago.. Quickest exchange to cash in memory. You really learn the difference between real money and fiat in moments like that.
OK, so what was the difference between PMs and fiat from your point of view?
@@edb3877 I'd like to hear this as well
@@edb3877 Not only did the metal quickly increase in value it exchanged for cash quicker at a shop than any other item exchange or even a bank withdraw. They whipped that stuff right out with a smile.. it was then I knew what I had. I was just a kid with a few eagles but it turned out I'd timed things right on top of that. The house also quickly more than doubled in value. Sell, rinse, repeat.. If I'd banked my earnings instead of buying metal my dollars would have only lost value.
I'm not selling any of my silver or gold at this time
me either, its no where near where it belongs.
Me neither. My silver feels a lot safer than the numbers in a bank account, not to mention the imminent digital conversion that will make currency obsolete. They can't do that with silver or gold
I just sold some regular silver rounds today for $28 each in Maryland. I thought that was reasonable. I sold most of mine back like 10 years ago when silver was pushing $50 an ounce. I had a feeling that price wouldn't last and I was right. I would think that the obvious answer as to why people sell silver is "because they need the money". There isn't always a long term, deeply thought out financial approach to selling things. You sell what you have when you need money.
So are you getting that same feeling again? You think price is ready to head south or what?
@@wesleyt4109 No, not really. There was just something else I wanted to buy and I had a stack of rounds. I'm always on the lookout for them. Bought a bunch a few years back when the price was hovering around $15 an ounce. Since the pandemic, it seems the price is pretty stable around the $25 range for the foreseeable future. It slipped below $20 last year so I was more than happy to get $28 for them today.
I have sold a little bit of gold at one time and was asked why I was saling it and I just told him I was up on it. My personal reason for saling it was as much as his business as a bank wanting to know why I'm withdrawing. I had bought them from him and his shop along with the majority of my stack.
Banks will absolutely ask why you are withdrawing large amounts of cash because they have to report it. Coin dealers are always worried about getting robbed or ripped off -- they look you over before they unlock the door etc. Being nasty is not a good way to go.
@ssl3546 Obviously your speaking of an amount I don't keep in the bank because I have never been questioned with taking out a thousand or two thousand dollars. I don't let my savings accumulate in currency that's designed to depreciate and rob everyone.
Great interview, I’ve bought and sold to Kieth back in 2008 when I lived in Michigan. I remember him to be very honest and on the level, friendly, knowledgeable and happy to steer customers in the right direction. One of the nicest and most patient brokers in the business.
I was in hock shop yesterday the owner is buying silver at spot and he said it was crazy day people selling more than buying , his cabinet was full silver to sell
Well where in at they're paying 4 dollars over spot cause of such a demand
Thank you and to your guest for the interview
I converted the majority of my bank accounts to precious metals a year ago. No more stocks, no more bonds, no more cash. It happened in increments. Post Brandon my stocks tanked, converted to bonds.... Bonds tanked, converted to cash.... Inflation began, converted to metals .
2/3 of my stack is my "savings account" storing my wealth for the future. 1/3 is "cash on hand" being held in metals to protect its value.
For example today I sold several ozs at a 13% premium over last year to buy tires out of my "cash on hand" stack. My stack had served it's purpose of maintaining monetary value against inflation.
the dollar is at a 20 year high under dark brandon...go to a business channel and educate yourself. The BRIC countries are all 3rd world countries except China. Problem with china is the yuan is less than 3% of world reserves (65% for the dollar) and the Chinese do NOT let the yuan float so it will NEVER replace the dollar.
Where did you sell it back? Or where would you consider in Future?
Selling silver is not a good time , it’s a good time to buy silver and buy tons of them for dollar collapse !!!
Love your show. I watch a number of silver videos. Your charts and calls gives me a more indepth knowledge of the silver market for the stacker community.
In reference to the last part of the interview, if you have to sell some of your collection, hold onto your junk silver last if you can. From what I'm seeing it has the highest buyback price over spot.
From what I am seeing, ASEs have a significantly higher premium than do US 90% silver coins... about double, in fact. But I do agree that US
90% silver coins also have gone way up in premium cost compared to what they were a decade ago when I was buying them for my stack.
My junk silver and my coin collection is the only silver I wouldn't be willing to sale. Will pass it down to my kids and hopefully one day they have an interest in the history behind it.
Thanks for the interview with Keith. I've purchased from Kieth before although I've never been in his shop. A real stand up guy!!
During the “Silver Squeeze” in 2021, I sold some of my stack to help with the down payment on my home. If the price is right, I may sell some more, or actually trade in for gold.
Bad move with gold to ratio at 79. Stick with silver
And here I just sold some of my silver for the first time last week. I can't say it was for one of the D's though, maybe "decluttering" in my case. I had decided to streamline my stack by getting rid of the rounds that I only had partial tubes of, ones from earlier on in my stacking days when I would only get a few at a time whatever was on sale.
Good seeing you guys collaborating!
Good guest... Thanks Seeker!
I sold gold in 1999 and silver in 2002. I didn’t know much yet about the metals markets and I really needed the money.
Well done guys. Great info. Holla Michigan ✌️
These things he said about buying and selling selling are good to keep in mind as that's what a robust, equitable, market is all about like in any business.
Funny this video came out the day I sold $40 face of halves and a 1/4 oz gold eagle.
I'm a total contrarian - I bought when no one wanted the stuff and I'm selling because I've got a lot and a small amount to sell is really no biggie for me. I want to keep my cash high as I think the risk to the banks is real and I don't want to be selling my gold or silver when everyone else is selling - that won't be helpful and probably will drive prices at the local level down....
but that's just my opinion.
That's just as good as anyone else's opinion. 👍
I don't share that opinion but that's OK. The world is a really big place and there is plenty of room for many points of view.
Thanks for posting that, though. It's good to read about what others are doing with their stacks and why they are doing it.
I'd like to make a substantial gold buy sometime soon and a price pull-back would be quite helpful with that. 🙂
@@edb3877 I would wait for premiums to come down...they are ridiculous and sre the reason I was ok selling since I got some of those premiums in return
@@freeman7296 OK, thanks for the reply. I misread your original comment. I also would be tempted to sell some silver in a high-premium market,
especially since most of my stack was bought when silver was $15-$16 an oz. and premiums were $2-$3 an oz.
@@edb3877 I don't think I was clear actually...the way I see it - certain types of PMs are in super HIGH demand - fractional gold eagels are selling for WAAAY higher than normal and well above spot - as is junk silver. so I checked to see what my LCS was paying given the demand - and it was pretty good - so per my original comment - I like to sell while others are buying since that is a nice return on PMs I bought at a much lower price, sellers are not too common so I'll get that good return as opposed to when EVERYONE is selling then I'll be lucky to get spot and I get my cash position back up to where I prefer to be - I think a serious credit crunch is more likely right now and cash is important...
hopefully that explains my position better without writing a book.
@@edb3877 I think we accumulated at the same price...so you know what I'm saying
In the past, whenever i sold my silver, it was because i needed the money. But i no longer sell my silver.
I was at a coin shop today that buys silver rounds one dollar below spot and sells one dollar over spot He was selling silver rounds for 26 bucks today best price around
That is definitely the best price around. You've got a friend there.
Great interview.
I would think people would hold it, especially Junk Silver....could there be more bank problems Monday?
Silver, the only precious metal that is not over $1,000 oz now.
Just imagine! We’d all be making bank
Because there's TONS of it!! Trust me my buddy lives in Arizona and he has a silver vein that is running from the mine next door and he followed it and he said its like lighting and it goes back the this mine that's not mining the silver and the vein goes for far as your eyes can see. One morning he walked his dog over a mile and followed it and it went to a massive vagina looking crack about 8 feet long and on each side of it is 10 feet wide silver vein coming from under ground it splits of 2,000 different spots and the bottom end goes onto his property. He he owns a water filtration company and he's got hige pumps to pump up water amd filters it for the locals, he's said there's MASSIVE DUMP TRUCKS FULL!! He talked to the owner about the end of the vein on his property and he was going to jack hammer it and melt some down for his family and they went on the maps and spray painted a line over the vein and he said have at it lol he said he even moved the line over a foot extra so he can have that much more to avoid any conflict and to be cool, he said he's not mining it until silver gets over $100 an oz....Colorado has a Mountain FULL of silver and the neighboring town and houses voted against leveling the mountain because there is that much silver in that mountain, they made a road into this mountain the entrance thats 40 feet wide and 10 feet tall and are mining this mountain where it doesnt get demolished, Mexico has mountains full of it!!! I own several silver and gold mines and they are lying about Silver being like 80 ounces per 1 oz of gold, I see all the drill tests!!!! Its more like 900 ounces of silver for 1 oz of Gold!!!! Gold miners are switching to mining silver because Gold bearing ground is becoming more and more rare!!!! You can download the broker Webull, it's an AMAZING broker for stock trading by the information it gives, you can go to the HUNDREDS & THOUSANDS of different mines and you click on the news tabs and you can see ALL THE DRILLING RESULTS THEY POST EVERY 3 MONTHS!!!! THE SILVER TO GOLD RATIO IS INSANE!!!! THEY WANT US BUYING SILVER AND NOT GOLD!!!!! TRUST ME BUY GOLD!!! THEY HAVE BEEN SHORTING GOLD HEAVY THE LAST 12 YEARS SINCE 2011, NO LIES!!! HOW MUCH MONEY HAVE THEY PRINTED IN THE LAST 12 YEARS??? LIKE I SAID DOWNLOAD WEBULL GO TO ANY SILVER OR GOLD MINE AND LOOK ON THE NEWS TAB THE DRILL RESULTS ARE RIGHT THERE IN ALL OF THE MINES!!! IN FACT WHEN THEY DO THESE LEECHING MINES THEY HAVE THE CHEMICALS MELT DOWN ALL THE SILVER AND GOLD DOWN INTO THE HONEY LOOKING AREA AND THEY PULL THEM OUT AND THEY ARE SOLID SILVER LOOKING MASSIVE BRICKS!!! THERE'S GOLD IN THE BRICKS AND A DECENT AMOUNT BUT ITS 90% SILVER THEY SEPERATE THE METALS ELSEWHERE!!!! I PROMISE I'M NOT LYING!!! THEY HAVE SHORTED GOLD SO HEAVY AND LET ALL THE GOLD MINERS GET AS MUCH GOLD AS THEY CAN WHERE GOLD MINERS ARE SWITCHING TO MINING SILVER AND GETTING GOLD AS A BY-PRODUCT!!! BUY GOLD AND BUY IT WHILE YOU CAN!!! GOLD WILL SOON BE A VERY RICH MANS METAL AND WE WILL ALL BE STACKING SILVER AFTER TRUST ME WE WILL HAVE PLENTY OF TIME TO STACK SILVER!!!! BUY GOLD!!!!! BUY IT ASAP!!!! YOU CAN SEE SIGN UP HERE AND YOU GET FREE SILVER THEY ARE ALL OVER! IF IT WAS RARE THEY WOULDN'T BE GIVING SILVER OUT FOR FREE!!! BUY GOLD PEEPS! SILVER STILL IS LOW FOR WHAT IT DOES, WITH THE VIRUSES AND BS WE ARE GOING TO MAKE SILVER WARE THAT'S ACTUALLY SILVER, THERE WILL BE A SILVER SPRAY THAT COATS COUNTER TOPS WITH TO KILL ANY GERMS THAT TOUCH IT, SILVER WILL BE IN VERY HIGH DEMAND STILL!!! BUT GOLD IS RARE, THEY USED IT ON TOP OF THE PYRAMIDS AND USE IT IN SPACE, GOLD IS A VERY SPECIAL METAL!!!
@@miketyson8933 both are special in their own way. as for gold, the expeditions to remove gold from the atlantic ocean are massive china has made special equipment and has yet to pull the ship wreckage gold, silver, gems and more.... theyve invested more zeros than i can remember, it wass trillions several years ago..... thye deem the shipwrecks world changing, for a reason..... found gold and silver in atlantic ocean is whos exactly?????? where was it heading, was there a promissory note for contents of the ship? interest on that ship contents???
If silver’s too high then it’s HARD to stack. And selling would be bitterSweet…
@@miketyson8933 (Homer Simpson):
…”uhhggllugg, GOLD, uuhhggllluuuggg”…
Love IT, 2 of my YT Favs on the same video. SS, CC, and RFT are the channels I like the most for info and general good watching.
I bought a lot at 29, sold 1/3 at 34, bought more at 27 sold some at mire at 31 etc etc etc. Sell when you need cash, buy for the future. Get it?
What about the 5 D's? Dodge, Duck, Dip, Dive, and Dodge? Lol
If you can dodge a wrench you can dodge a ball.
@@wesleyt4109 😎🤘
Enjoyed this interview!! Thank you!!
The only PM's I have been buying lately are vintage piece.
Overpaying for some but that happens sometimes.
If the time comes to sell my hooe is someone else will like to pay more than I did.
Good interview you guys are very knowledgeable
Coin Crew out of Muskegon MI
Hell yeah...way to represent MI
Coming from eadtside of Detroit...I'll be stopping in next time I'm up north.
I only have 2 reasons why I might want to sell some silver: 1) to sell off some things that no longer fit well with my overall approach to stacking;
or 2) to get some cash for an additional gold purchase. I have other assets that I can use for most any unexpected bills or other problems that
could be fixed via the use of some extra cash. Other than these two reasons, I am holding onto my silver stack for the foreseeable future.
I do have some 5-oz. SilverTowne Prospector bars that are pretty cool for those who like bars that I want to sell. This would be 200 ozs. of silver
and I would definitely be using the cash from that to buy some 1/4 oz. gold coins, either Maples or Britannias. Yes, I know about the higher per oz.
premiums on fractional gold but want the flexibility they offer in case I don't want to sell a whole oz. at a time. The extra cost of the Britannias is
fairly low when compared to Maples and especially to Eagles.
I wanted to say I agree with Richard about your video, I love your response and take on the precious metals. You hold nothing back and still PC. 😊
Great interview, insights, and guest. Sound like a great and honest coin dealer. Interview him again.
Enjoyed the conversation and really enjoyed watching the video as well. Thanks Seeker.
If you don't mind sharing what's the name of your shop or location?
@@mudfun3703 Coin Zone is the name of my shop. We are located in Muskegon, MI
10:18 If someone asks why, tell them it’s none of their business. Or tell them it’s personal. Your coin dealer, banker, whoever, has NO business asking why you wish to conduct a business transaction, and YOU have no obligation to disclose why.
Have you ever seen a coin crew auction talk about high mark up on silver got to be the highest on line but is very interesting to watch
It's an auction my friend people decide what they want to pay and alot of the time irs people supporting his channel.
The local surveyor used to deal in rental properties with sitting tenants and he said the sellers of those properties usually sold for the four Ds. Divorce, death, debt and .... duh, I forgot
Desire or dream.
When he mentionned the 4 Ds I was expecting : Drunk, desparate, dumb and desillusioned ;) Well not really but I think those are funnier ;)
Odd... I practically had the same D list .. except I had druggie.
@@paulrichards383 That works too LOL!
I've got one question and I've never seen anybody answer and this point in the video was a great example. What if you had 100 ounce bar but you only wanted to sell a percentage of it would a shop trade you the silver and then compensate for what you want to sell 9:49
Depends on the shop. Most shops I know wouldn't, but a couple would. One shop I know up in NH would and has done something similar for me. It's all about making solid relationships with particular shops.
all my friends are selling down too, but we are selling our other metals first silver is next, I am a scraper so we get a lot of short steel, Alum, Brass and copper
the economy just sucks to we have to sell just to keep our head above water and not lose anything
I have seen a lot of friends paying off their house and car, F*** credit cards they are unsecured debt ....
Please keep doing interviews with Keith. Keith is very clear and easy to understand. He is way better then that guy from Mid America coins who just tells stories that only a select few want to hear.
I have a reasonable amount of silver and 5 gram gold bars. Is there any resourceful websites or shops to sell...thank you.
Im hoping to keep my stacks long enough to pass some on to my kids.
Another great video, thank you!
My silver buying slowed down big time. Saving cash at the moment. When I do but silver its a bigger purchase to get it that little bit cheaper price
Great interview and points touched on mate
👍💯🔥
How can anyone possibly afford those prices??? We live in the burbs of Phoenix and those homes sell for $650,000 here 🎉
i own some silver gold and platinum however i dont see the point in holding onto it forever. Sure you might wanna pass it down to your kids or use it as a hedge against inflation but the premiums are way too much and i actually sold a few oz and made a profit. I bought in 2017. Now is a terrible time to buy anything in my opinion. Very curious to see how all this plays out since the dollar has lost alot of value.
I sold my vault silver. worst investment ever
Its not like this everywhere
That’s exactly what I wanted to hear! KEEP STACKING!
great video, the dealer seems to be quite an honest fellow.
I experienced the need to sell due to divorce years ago. I didn't sell it all but I did have to part ways with some of my gold and silver to cover some costs. Thankfully that's what it's there for
Excellent interview, seems like a great guy.
My son at 15 is the only one who knows how much I have, my wife didn't realize why I bought so i kept it under the radar
Lol say bye bye to that
Every relationship needs to be done in a way that works best for the people involved. My wife does not know how big my stack is but she does know that I have bought
gold and silver for several years. I stack because neither my wife nor my daughter understand the need for stacking. A lot of what I have is for them. Maybe not to be
received as metals but the asset is there for its use in case of need. My son gets it, so a good share of the metals will go to him. Unfortunately, he and his wife decided
not to have any kids, so whatever he gets will not be passed down to the next generation. This complicates the situation somewhat. 😕
@Ed B oh that's awesome and a shame at the same time 🙁
Same here, my son is the only one who knows exactly, but I have a couple of silver bars and some small gold coins on my desktop. My wife see it, but doesn’t understand what it is.
Nice to know. His shop is
I've called 5 shops in the area to sell about $60 FV of quarters and every shop has offered just melt value for the 90%. One shop offered 10x FV. Are you seeing the same of just melt value on 90%?
4Ds don't have rent money don't have food money don't have money for my internet to watch silver seeker and coin crew the last D is dig a hole for my silver
Great video. The only question I am left with is. What percentage of sellers walk away from the offer? Thanks
Lots of new buyers out there. They don't even know that it is kind of the top. My wife just started purchasing silver and has no idea what it cost.🙃
Seeker this is Steve in Florida caught your video and enjoyed it thank you for doing it ya the times are making some people sell their silver things food and groceries and living supplies are just so expensive I think push people to sell so far for me I have been able to keep my stack
Good conversation, you should have Kieth on again
I had to come back to find out what the 4D’s reasons why people sell. I could only remember 3 of them, so 1)Debt, 2)Divorce, 3)Death, & 4)Desire.
How about Kruggerrands??..what is price over spot?..
My LCS will not buy anymore silver. He told me yesterday he has too much as people are flooding him with sales of gold and silver.
You have such a unque metal channel. Digging the content and the different things you do
Bought my silver....put it a way and forget....maybe one day it will be useful to me or my kids and grandkids.
Personally, I’m adding around 20-25oz a week in bullion and .925 jewelry. I sell to the first buyer that meets my projected profit margin to gain a lower capital gains sales tax. I then put the profit into paying my sellers for new pieces to expand my inventory.
Thanks for addressing one of my questions, Seeker. I still have doubts about the price changing between the phone and the actual transaction. He didn't say anything about the condition. I know there is a price difference between "Retail Friendly" silver and not. My LCS told me "scratched and not-scratched". He seemed annoyed by the question and suddenly less friendly and too busy to continue the conversation. That was the first time I called him not to ask about inventory and make a purchase. In those cases, he was more friendly and had more time. I've been working the collectible market most of my life and I never see stacks go on the market. I see vintage Dungeons and Dragons being sold off on ebay by families of someone who passed all the time. Other stuff too. I never see someone's silver stack go up though. Only dealers and flippers. What does this mean? I've never heard a stacker talk about selling at a profit. Stackers don't sell. I've never walked into my LCS and seen an over-the-counter buy either. I know my sister went to a coin show with her half of the silver inheritance and got SKINNED. But I'm not supposed to know that. Shame she didn't come to me for help with that. I guess the only way I'll be convinced is to sell off half my stack, but I don't want to do that for the same reasons that other stackers don't want to sell. I enjoy my stack and I'm afraid of finding out the truth. If you're reading this, enjoy your stack, but have a well-thought-out and maybe even tested exit strategy. And a few ounces is not an effective test.
so the coin shop owner wants to know why people are selling silver to him because he is afraid it could be stolen, but if that lady or customer who bought from him in the past and now wants to sell it back to him, does he still need to know the reason why they are selling it? it's nosy to want to know why people want to sell their PMs. Ask him this next time, about customers that bought it from him and decides to sell it back to him in the future, will he wants to know the reason why they sell it back to him? I don't like to give any reason why I am selling my PMs when it comes time to sell.
Why would anyone sell their silver in the first place? Then why buy it? If the demand is so high why are you only a dollar over spot?
I sold some silver and gold this year needed a house
I sold my silver to buy a small piece of land out away from everything
I have a bunch of 10 oz bars and some kilos if the price spikes! Gotta go really high if I let it go for sure for sure.
@Silver_seeker_ poo poo
I would have to assume you sell because otherwise why did you buy it in the first place? Was your goal to die with a big pile of silver or gold? Like all currency, it’s worthless unless you spend it.
Still stacking and holding
Boggles my mind, that the subject of imminent Financial collapse is never mentioned!
Personally, don't care if it costs over spot, the dollar is dead, eventually Silver will be only means to purchase anything.
...that point you'll wish you held.
Got lucky again 2 rolls of dimes for 190 all in higher than usual but o well , gotta slow down soon lol
Enjoyed your chat with keith
I only sell silver if I encounter an emergency (usually debt, like if I have a medical emergency or if I lose a job or lose clients). All other reasons are called my problem and I shouldn’t sell my assets to fix them.
When the banking crises began we were flooded with orders and the order sizes were mush larger than usual. Premiums on the the most popular products like buffalo rounds went up I think 3 times by at least $.25/oz in about a 2 week time frame and delivery dates have been pushed further and further out. Once the spot price hit $26 and premiums increased to where you have to pay almost $30/oz we saw demand drop off a cliff. Volumes are are picking up again but people don't want to wait a month or more to get delivery which could play a role as well. I believe everyone is waiting for the Feds interest rate meeting this Weds. Regardless of price though supply just isn't readily available. Any demand shock like the silver squeeze or more bank failures will in my prediction wipe out existing inventories and premiums will go up and wait times will increase. This will especially be true if the spot price drops in any significant way. There are a lot of buyers waiting for the dip. Grow your stack!
Lots of different reasons to buy and sell at any time just like any other commodity.
There’s a coin dealer in Ludington. He’s a good guy, but his 90% premium was high. And this was a year ago
I went to Katy Coins here in Texas and they had a lot of silver to sell. Many Libertads, Maples, and of course ASE. Must just be certain locations that are running out. Katy Coins is in the greater Houston area
How about the price? High premiums would keep the silver stock from selling.
Please bring on more dealers and industry experts.
That sucks that people steal and it hurts more than just the person who got ripped off
can you ask him for that 100 oz silver bar he gave the lady $1 over spot, would he give the same for 100oz Johnson Matthey, 100 oz Maples bar or 100oz Englehart? He still pay customer $1 over spot of these as well?
That 100 oz bar was from the Sunshine Mine. A very desireable, quality piece from the Silver Valley part of Idaho.
Sad stories coming!
Awesome shop owner super fair prices
Bro i want open a silver exchange coin shop how to strt it from 1st.. plz guide me
What about when it drops in value and stays stagnant fornanother ten years? Whats the value there other than somethingncool to own and look at..
Sometimes you're the bat and sometimes you're the ball.
Great interview
great video...a good man...like his values...thanks for sharing Seeker
Good info. Bye the way, you dont have to say your going to ask a question before you ask a question. Just ask.
business, profit might be good reason to sell. i am selling 500 oz now for 31€/oz
I sold a few ounces this past weekend that I was sitting on since 2015. Dem D’s are dangerous. No regrets since premiums were not like they are today. People called me foolish back then. But remember, the long term wait is not for the faint of heart.
im hearing it should explode within 20 years.
I need to do some repairs around the house... that's my reason.
Great video.
You forgot the 5th D, Drugs 😉
If going high the price I sell al my 350 oz and Chang to gold stuped Metall very small win only 3 Euro in 7 jears failed total