How NOT to sell your silver

[LemonThrower]

OK so lets say you want to turn some of your treasure into cash. How do you do it?

Well, probably the worst way is to go to a pawnshop. Absolute bottom dollar.

Second worst way is a coin shop. These guys price it to resell, so they have to pay less than what a buyer would pay. Call the coinshops in your phonebook and ask them what they will pay for 90% and 40%. They probably won't even want the 40% and won't give you a decent price on the 90% unless you have a lot.

The coin shops quote their buy price as a multiple of face value. 9X or 9 times means they'll pay $4.50 for a silver half. Don't expect anything extra for Bens or Walkers.

Typically, the dealers will offer you a price that is at least 2-3 times face value below the melt value of the silver, because this is their profit margin.

Almost always, you can get a better price from collectors. Right now I would pay 11.5X for 90% and 4.3X for 40%. Send me an email or pm if you are interested.

For key dates, commemoratives, proofs, or anything else you think should command a premium, try selling it to another TreasureNet member on the free classified here. Other ideas or craiglist (big hassle) or ebay (medium hassle, but not free).

Good luck!

 

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[Rich Hartford]

Check out " fall of the Republic" on you tube. It explains alot about this money and banking stuff. Very interesting

 

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[LemonThrower]

it a exchange rate game -- as the dollar becomes more and more "worthless" --more and more of them are needed to buy a oz of gold / silver ---gold and silver are hard money --real objects --the standard by which --"paper money is judged" --- as the value of ones "paper monry" drops --it takes more to buy gold --as it strengthens less --- its a supply and demand sort of process --- currently due to the us govts current massive spending (bank bail outs ect,ect) the wotld market is "flooded" with huge amounts of dollars -- thus there is a surplus of dollars in the world exchange market-- like any product having a whole lot of them to "move" or sell lowers the price you can get for them -- having a huge surplus of " non backed---just print more money" dollars floating about "cheapens" --its overall value. --- think of it as running a huge debit on a credit card that everyone knows you can not possibly pay off -- folks get leery of buying your treasury notes on the world market farther driving down the dollars worth , andit also cost much more for the us govt to barrow with higher interest being demanded by those who buy treasury bonds for them taking a bigger "risk"

yes, but as the dollar declines not every hard asset will go up at the same rate. if the dollar were not falling, i and ted butler would still expect silver to go up relative to gold.

 

[jim4silver]

it a exchange rate game -- as the dollar becomes more and more "worthless" --more and more of them are needed to buy a oz of gold / silver ---gold and silver are hard money --real objects --the standard by which --"paper money is judged" --- as the value of ones "paper monry" drops --it takes more to buy gold --as it strengthens less --- its a supply and demand sort of process --- currently due to the us govts current massive spending (bank bail outs ect,ect) the wotld market is "flooded" with huge amounts of dollars -- thus there is a surplus of dollars in the world exchange market-- like any product having a whole lot of them to "move" or sell lowers the price you can get for them -- having a huge surplus of " non backed---just print more money" dollars floating about "cheapens" --its overall value. --- think of it as running a huge debit on a credit card that everyone knows you can not possibly pay off -- folks get leery of buying your treasury notes on the world market farther driving down the dollars worth , andit also cost much more for the us govt to barrow with higher interest being demanded by those who buy treasury bonds for them taking a bigger "risk"

yes, but as the dollar declines not every hard asset will go up at the same rate. if the dollar were not falling, i and ted butler would still expect silver to go up relative to gold.

I have been a big fan of silver (as my avatar name implies), but I have to say that over the past year my views have changed a bit. I believe that unless the economy picks up and people start buying lots more items that contain silver (electronics, etc.), I don't think you are gonna see the ratio between gold and silver tighten. In fact, I think it is gonna widen more.

The big money is favoring gold because it is seen as store of value (monetary in nature) vs. inflation and/or weakening fiat currencies. I think silver (nowadays mostly industrial in nature) is now just riding gold's coattails.

I read from pundits how silver is all used up and there is not enough, but I believe that there are silver mines that shut down in the 90s because of the low price, and they are now or will get back on line as long as silver stays up in price, which will increase supplies. Whenever I speak to people who are in the PM business, they seem to believe that gold will outperform silver in the next couple years. But that once and if the economy picks up and there is a greater need for silver in industrial uses (they all seem to believe silver is an industrial metal), then silver will start to outperform gold.

Small investors (like me) like silver, but we are not the ones who really move prices in the world.

I predict that the gold/silver ratio will hit 1 to 80/90 in the next 6months to 2-3 years as both go up in price. Later on, silver will start to outperform gold.

Just my humble opinion

Jim