Sold the 40%
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Thread: Sold the 40%

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  1. #1
    us
    Jun 2014
    The 2nd State
    784
    1021 times
    Coin Roll Hunting

    Sold the 40%

    Hey everyone - just like everyone else I've basically been out of CRH commission this year, which is sad since the year started out decently for me.

    As the spot silver price has bounced back and forth between $22 and $26 for the past few months I figure it's a decent time to unload my 40% at least. Just wanted to share my experience selling.

    I have an online wholesaler that I trust that I buy from and sell to fairly regularly, so I checked with him first and was able to squeeze him all the way up to paying 91% of melt with him also covering the shipping cost. If I had sold piecemeal to a bunch of individuals I might have gotten a bit more but the pain of receiving payment, packing and shipping to dozens of ppl (or meeting up in person) just didn't seem worth it.

    For sh's and giggles I checked with a few local shops and dealers to see what they were paying and it wasn't anything close to that. The worst offer I got was 45% of melt value (crazy, right?)

    Packaging and shipping coins in that quantity was absolutely a pain and was probably a small fortune for the dealer to have paid through UPS.

    Sadly, the packages are being drop-shipped to an address that is tied to a refinery, meaning this is the last trip they'll be going on. I will admit it is a bit disheartening knowing they've been pulled out of circulation permanently and have no chance of ever ending back up in a box, however I do understand that it's necessary to get the best bang for your buck.

    I don't think I would sell my 90% the same way. Since there's less of it, it would be less of a chore shipping to a few individuals and it would probably be a bit easier to squeeze out a few extra bucks.

    I am holding onto it for now in case the spot price continues to rise, though I do feel that the current run is running out of steam. Once the dust settles, in a few months or maybe years the spot price will surely come back down to where it sat ($15-18) for the past many years at which point I hope to use the proceeds to re-enter the market with some .999.
    2019 CRH Total

    $291,495 halves
    ---574 boxes---$3940 CWR---$220 MWR---$335 loose
    ---90% - 209------90% - 64------90% - 0-----90% - 3-----> 276
    ---40% - 912-----40% - 76------40% - 8------40% - 13----> 1009
    Ken-1182---Ben-52---WL-50---Barb-1---Total ---> 1285 Silvers/257.18 oz.

    "The only way to deal with an unfree world is to become so absolutely free that your very existence is an act of rebellion." -Camus

  2. #2

    Jan 2016
    441
    939 times
    I would not be surprised to see the price of silver up to $30-$40 ( maybe higher) next year.

  3. #3
    us
    May 2018
    A state of Resistance
    White's MXT Tesoro Cibola Tesoro Golden Sabre Plus Garrett ADS Master Hunter 7
    2,319
    3807 times
    All Types Of Treasure Hunting
    I sold my 40% halves on ebay this summer/fall to make more room in my safe. I sold 10 lots of 100 coins each (5 rolls at a time). I found that ebay made it easy and a trip to the post office was not even necessary by using the pre-paid boxes with tracking. The fees and shipping ate into my return, but I got a higher % of spot to start. I even managed to sell 500 impaired clad proofs for a small profit.

    I don't have any plans to sell the 90% silver. Have not been able to get boxes since March. The banks have been pushing online banking since long before the pandemic and it has been clear they don't want people visiting branches in person - so this may be their excuse to stop getting coins for those of us with non-commercial accounts.
    Avago likes this.
    "Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passions, they cannot alter the state of facts and evidence." - John Adams

  4. #4
    us
    Poet—Traveler—Soldier of Fortune

    Mar 2012
    Pennsy
    2,189
    1649 times
    All Types Of Treasure Hunting
    91% is really good, congrats!

    How many coins did you sell? Or how many ounces total?

    What was the value you had realized?
    And as things fell apart
    Nobody paid much attention

  5. #5
    Charter Member
    us
    Feb 2008
    Great Lakes State
    dirtfishing
    11,752
    3984 times
    silver surfing
    Honorable Mentions (1)
    50% is the avg price paid by LCS in the area. The best I did was 80% via Craigslist but they sat for a month with one inquiry/sale.
    I believe silver prices are really going to ramp up with the coming big push for solar/green energy.
    Megalodon likes this.

  6. #6
    us
    Jun 2014
    The 2nd State
    784
    1021 times
    Coin Roll Hunting
    Quote Originally Posted by fistfulladirt View Post
    50% is the avg price paid by LCS in the area. The best I did was 80% via Craigslist but they sat for a month with one inquiry/sale.
    I believe silver prices are really going to ramp up with the coming big push for solar/green energy.
    The wholesaler I worked with probably does massive volumes in order to make such slim profits. I'm definitely glad to get what I got. I have been able to sell to individuals at melt in the past, but that was years ago and only a roll or two at a time.

    I do agree about solar, I've been watching for that for awhile. The couple sources I just checked indicate that photovoltaic cells accounted for around 10% of the total use for silver last year, but if/when they truly ramp up for wide-scale adoption of solar that could be a major driver for demand.
    2019 CRH Total

    $291,495 halves
    ---574 boxes---$3940 CWR---$220 MWR---$335 loose
    ---90% - 209------90% - 64------90% - 0-----90% - 3-----> 276
    ---40% - 912-----40% - 76------40% - 8------40% - 13----> 1009
    Ken-1182---Ben-52---WL-50---Barb-1---Total ---> 1285 Silvers/257.18 oz.

    "The only way to deal with an unfree world is to become so absolutely free that your very existence is an act of rebellion." -Camus

  7. #7
    us
    May 2018
    A state of Resistance
    White's MXT Tesoro Cibola Tesoro Golden Sabre Plus Garrett ADS Master Hunter 7
    2,319
    3807 times
    All Types Of Treasure Hunting
    Quote Originally Posted by fistfulladirt View Post
    50% is the avg price paid by LCS in the area. The best I did was 80% via Craigslist but they sat for a month with one inquiry/sale.
    I believe silver prices are really going to ramp up with the coming big push for solar/green energy.
    I agree. And I had no interest in hauling 1000 40% halves to a coin show in a sketchy area, pay for gas and parking and end up with a sore arm and the same coins at the end of the day. Each of the 10 lots of 100 coins sold on ebay went for 95-100% of spot, which sounds good - but when you subtract all the fees and shipping, netted between 90-93%. I was never going to go through them and admire them, so selling them and making more room made sense for me. I'll keep the 90% coins, a better way to hold silver anyway.
    "Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passions, they cannot alter the state of facts and evidence." - John Adams

 

 

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