My biggest problem - where to sell?

[LoveSilver]

Hi there, I am in Canada. I don't have any problems buying and getting silver coins and bars at reasonable prices. I made some orders through Canadian PMX and it went fine.

My problem is serious even that it is hypothetical at this time. I am not selling anything but if I was to sell I am not delighted with choices. I would like to avoid eBay and Amazon. I wouldn't buy there and also wouldn't like to sell there. Even worse is Kijiji or Craigslist. There direct contact with the buyer is necessary for a transaction to be completed. I don't want to meet unknown people in coffee shops, plazas and let alone in my home. So what's left? Coin shops which traditionally pay very low.

Last would be the same dealer I purchase stuff from.  I just called there and this is what it costs to buy and what they would pay to buy it back:

> 1 oz. Canadian Maple Leaf - $23.35, would get $19.34 (-17%)

> 10 oz. PMX Silver bar - $220.09, would get $193.00 (-12.3%)

What do you think about those rates? Is there a better way or place to sell silver pieces? I definitely appreciate transparency and straightforward process at the dealer. Why you do when you want to sell?  

[Pete]

You will have to sell privately to get the best price.
This forum is ideal.

Count yourself lucky living in Canada.
Not only do us in the UK have to face dealer spreads buying and selling like you, we automatically loose 20% in value had we paid the full VAT ( i.e. sales tax ).

[Lr103]

1 hour ago, LoveSilver said:

Hi there, I am in Canada. I don't have any problems buying and getting silver coins and bars at reasonable prices. I made some orders through Canadian PMX and it went fine.

My problem is serious even that it is hypothetical at this time. I am not selling anything but if I was to sell I am not delighted with choices. I would like to avoid eBay and Amazon. I wouldn't buy there and also wouldn't like to sell there. Even worse is Kijiji or Craigslist. There direct contact with the buyer is necessary for a transaction to be completed. I don't want to meet unknown people in coffee shops, plazas and let alone in my home. So what's left? Coin shops which traditionally pay very low.

 

I initially wanted to avoid eBay as well, but it turned out to be one of the best places for me to sell.  They make commerce very easy given the huge market of buyers, and you can pay for discounted postage and print a shipping label with a single click from the site.  

I've also sold on the forum, and that can be even better....it's cheaper than eBay, but realistically (unless it's a very expensive item) your market will be limited to North American forum members due to postage costs.

[LoveSilver]

Thanks for answers. You still surprised me with eBay. I checked it out and sure enough, sellers are asking 3+ dollars more than I pay in Canadian PMX. I find it strange. If buyers searched Internet they would run into better deals for sure and sellers are reputable dealers.

[Gildeon]

Pure bullion and junk silver in good prices are very difficult to be found in ebay. Maybe an auction can be a better luck. 

I buy from there mostly collectable and hard to find numismatic and older coins. I rarely had problems with buying (a couple of fake items in the beginning, sorted quickly) and never had a problem selling. If you want to get your full price though you may have to wait for some time. 

[DarkChameleon]

48 minutes ago, LoveSilver said:

Thanks for answers. You still surprised me with eBay. I checked it out and sure enough, sellers are asking 3+ dollars more than I pay in Canadian PMX. I find it strange. If buyers searched Internet they would run into better deals for sure and sellers are reputable dealers.

Collectors and beginners, they don't see a couple of dollars as much, it's only when your planing on building up a stash that it becomes the make and break of buying...also some people pay with credit cards which private dealers, etc won't accept.

[whuamai]

You limit the selling possibilities with quite many restrictions. With those restrictions you can only sell via forums or to a dealer.

If the spreads are to high you could think about investing in PM with lower spreads (gold)

Or you have to think about selling with methods you don't like...

[flim]

so long as your metals is what we wanted

you are able to receive money in your bank account

and you can send by post the metals

 

we can be a world a part, there is no stopping our deals 

[Shinus73]

16 hours ago, DarkChameleon said:

Collectors and beginners, they don't see a couple of dollars as much, it's only when your planing on building up a stash that it becomes the make and break of buying...also some people pay with credit cards which private dealers, etc won't accept.

You’ve identified the often overlooked reason that people are routinely willing to overpay on eBay. They can use a credit card. 

[TonyS]

You’ve bought in to silver, why?

Why are you so desperate to sell? It just doesn’t make sense.

I bought silver knowing it was for the long haul. I’ll be six foot under when my son finally sells my minuscule collection.

[SiliconToad]

My feelings are this:

1. if you are going into silver as a pure investment and don't expect a black swan "reset" event (whatever that means), then you want paper silver.

2. if you want "money you can hold" (whatever that means), then expect to trade your fiat for silver at ~15% over spot/oz and trade your silver for fiat at 10% under spot/oz. With this expectation, you will always have a buyer anywhere.

 

For me personally, silver is a collection of shiny bobbles that make me happy. And I rationalize that the cost of said bobbles is just the few bucks I spend over spot price. 

 

[HighlandTiger]

This is the main reason I'm getting rid of my silver stack. Its nigh on impossible to shift quickly. My sterling silver flatware was easy to shift to a local buyer, but you can only expect 88% of spot, (sold over £3k last week in 10 minutes). Selling silver coins can be a pain and you have to do some work either on this forum, (probably the best as long as you are sensible in your asking prices), or ebay. remembering of course to factor in the extortionate ebay and paypal fees, as well as envelopes, packing materials, and transport costs to get to your local post office.

I'm now going to be concentrating on my gold. My local dealer will give spot for my sovs, (i have a special deal), and I'll pay just under 5% over spot on any sovs he has.

I still would like to play the silver game though, so I'll be buying silver on Bullion Vault, and using the smaller spread and the ability to sell immediately to try and make my fortune, (or not)

[DarkChameleon]

5 minutes ago, HighlandTiger said:

This is the main reason I'm getting rid of my silver stack. Its nigh on impossible to shift quickly. My sterling silver flatware was easy to shift to a local buyer, but you can only expect 88% of spot, (sold over £3k last week in 10 minutes). Selling silver coins can be a pain and you have to do some work either on this forum, (probably the best as long as you are sensible in your asking prices), or ebay. remembering of course to factor in the extortionate ebay and paypal fees, as well as envelopes, packing materials, and transport costs to get to your local post office.

I'm now going to be concentrating on my gold. My local dealer will give spot for my sovs, (i have a special deal), and I'll pay just under 5% over spot on any sovs he has.

I still would like to play the silver game though, so I'll be buying silver on Bullion Vault, and using the smaller spread and the ability to sell immediately to try and make my fortune, (or not)

I'm thinking of offloading some sovs to go to silver or pkatinum...shame your on the wrong continent...lol.