Anyone here buying or selling silver recently?
Welcome guest, is this your first visit?
Member
Discoveries
 
Page 1 of 2 12 LastLast
Results 1 to 15 of 28
Like Tree40Likes

Thread: Anyone here buying or selling silver recently?

« Prev Thread | Next Thread »
  1. #1

    Apr 2008
    3,644
    474 times

    Anyone here buying or selling silver recently?

    I decided to use the recent high prices to dump some of my stuff that I didn't like much and used the proceeds to buy cooler stuff. One good thing about the higher prices is that is causes some people to want to sell.

    One of my acquaintances wanted to sell some silver panda coins (2013-2015) in excellent shape and the lcs only offered him $2 over melt. He refused that and asked me if I was interested. I told him I would pay $3 over melt and he accepted.

    I didn't want to put new cash in to the coins so I went and sold some of what I call foreign junk silver (50%, 80% and 92.5%, etc) coins that I bought a long time ago and regretted buying because they are kind of ugly and generally-speaking nobody cares about them. I got melt for the foreign junk coins and wound up with really pretty China Panda coins for only 3 bucks extra per ounce.
    Plumbata and FAT SEXY like this.
    R.I.P. Rich Hartford

  2. #2
    us
    Martiobarbuli

    May 2012
    Wyoming
    White's
    1,316
    2117 times
    All Types Of Treasure Hunting
    Good on ya for trading up! Just buying this year, trying to stack as much as possible before they crash the system so I've gotten excellent at snatching cheap newly listed BIN sterling items off eBay from people who don't know what they have. I'm keeping the rare or high quality solid sterling and having the normal stuff refined and returned as .9999 kilo ingots at a total cost way less than spot. It's an awesome system, only wish I had more cash to spend lol.

  3. #3
    us
    Jan 2016
    South of Gunnison, Gold Basin
    F2
    2,090
    2507 times
    Prospecting
    I spent almost $1000 today on different bullion.
    Ive never paid this much before!
    I've slowed down my buying but if I have some cash to put away I don't hesitate.
    Gold and silver are both still bargains.
    jim4silver and Plumbata like this.

  4. #4
    us
    Silver Fiend

    Oct 2009
    9,560
    9220 times
    All Types Of Treasure Hunting
    nope, I'm done buying from the rigged system. I cant trust places like fleabay to not be scams either.
    You can follow me in other places.
    My Blog
    My YouTube
    My Twitter
    My Instagram
    My Facebook

  5. #5
    us
    Martiobarbuli

    May 2012
    Wyoming
    White's
    1,316
    2117 times
    All Types Of Treasure Hunting
    Figured I'd share a recent Goodwill score, a .800 silver platter containing 926 grams of pure for 4 bucks. Gone up in value 100 bucks since I got it, heh.

    Click image for larger version. 

Name:	KIMG0189.JPG 
Views:	35 
Size:	2.04 MB 
ID:	1851360

    And I'm not joking about hoarding sterling from eBay being sold via cheap BIN by ignorant sellers...

    Click image for larger version. 

Name:	KIMG0091.JPG 
Views:	53 
Size:	1.93 MB 
ID:	1851363

    ...or getting kilos refined for really cheap, here's the last batch I picked up from my refinery...
    Click image for larger version. 

Name:	KIMG0099~2.JPG 
Views:	49 
Size:	421.5 KB 
ID:	1851371

    Good luck stacking everyone, and if you would rather spend much less than spot for silver then just do what I do!
    Last edited by Plumbata; Jul 25, 2020 at 10:09 AM.

  6. #6

    Apr 2008
    3,644
    474 times
    Plumbata,

    Those are great ways to get cheap silver. There are good ways to try and get such deals but it does take work and needs to be something you enjoy doing or it starts to feel like a bad job. Years ago I used to coin roll hunt half dollars and made good scores until the good finds ran out and my back was starting to hurt from lugging bags full of halves to the bank to dump. I remember some of the tellers having a facial expression similar to having extreme gas pains when they saw me coming into the bank with my wheelie cart full of half dollars that they had to run in the machine.

    I tried hitting the local Goodwill stores but only found a few antique items worth anything, never silver etc. After giving up coin roll hunting I decided to become somewhat of a "part time dealer" and starting having a table at coin shows. My goal was to find some big time dealers and become a source for them to wholesale to. I have not been as active in this recently as in past years, but I have been able to acquire a good deal of foreign silver bullion and proof coins like Kooks, Koalas, Britannias, Libertads, Tuvalu coins, and many others for mostly $2-3 over melt (sometimes less).

    My goal was to flip the semi numi stuff for profit and put it back into cheap bars/rounds for when the price takes off. Unfortunately, I haven't done that so I may be stuck with my semi numi stuff if we are about to take off now but that is OK. Even at $50 silver I would hope a Kookaburra or silver lunar would bring more than a generic round?

    Most big coin dealers/stores I deal with wholesale most of what they buy, usually to other dealers on dealer to dealer websites. None of the guys I deal with now are in to selling heavy on ebay, which helps me get the cool stuff cheaper. Over time I've lost some of these dealers either because they started ebaying the cool stuff or they went out of business, etc, but I have been able to find new ones. It all takes work but is better than grubbing half dollars from the banks and lugging them to dump after hours of fruitless searches.
    Last edited by jim4silver; Jul 25, 2020 at 01:15 PM.
    Plumbata likes this.
    R.I.P. Rich Hartford

  7. #7
    us
    Martiobarbuli

    May 2012
    Wyoming
    White's
    1,316
    2117 times
    All Types Of Treasure Hunting
    It hadn't occurred to me but positioning yourself in the flow of wholesale dealer inventory sounds like a good way to ultimately get more silver for your buck! I'm a bit cagey and introverted though so don't like being trapped behind a busy show/flea market table for too long, lol. Just randomly refreshing my sterling search for new BIN listings on the phone is relatively low-effort and the astonishing frequency of batches for 1/2 or less of their spot value makes it quite fun to mine for silver there ☺️
    fistfulladirt and jim4silver like this.

  8. #8
    us
    Martiobarbuli

    May 2012
    Wyoming
    White's
    1,316
    2117 times
    All Types Of Treasure Hunting
    Regarding the premiums for fine numismatic bullion, I promise you that they won't increase in proportion to spot, but they will be much more trustworthy in a shtf/barter situation than random private bars/rounds. Provided the world eventually gets in order and starts running smoothly again after this system inevitably collapses, the increase in fair open market value will be so significant that you may look back and wish that you hoarded nothing but the cheapest ugly crap out there because ultimately all that will really matter is ounces and grams.

    That's my view anyway, and while I don't know if the nearly billion ounces of open interest for September delivery via COMEX will crash it or if it'll take years but the criminal system is weak and may soon be exposed and fall back on their force majeure clause to settle with fiat because they can't source 20,000+ metric tons of silver they've issued paper for and are coming due.

    I wish I was an obsessive stacker for years, but all one can do is make hay while the sun yet shines and try to make up for lost time by getting creative. When spot plus premiums went over 19 earlier this year is when I got frustrated enough to switch gears and do it myself which is the best stacking decision of my life! With all costs/fees the first bars cost less than 13/oz and currently with silver 22+ have been getting scrap that'll work out to less than 18/oz. Naturally one can only buy the very best deals and have a much lower cost, but you'll also have less silver by the time things really get interesting.

    Good luck everyone!
    fistfulladirt and jim4silver like this.

  9. #9
    us
    Dec 2006
    Very Northern Left Coast
    XLT & Bigfoot
    4,519
    2107 times
    All Types Of Treasure Hunting
    Quote Originally Posted by Plumbata View Post
    and having the normal stuff refined and returned as .9999 kilo ingots at a total cost way less than spot.
    Are you using the guy on gold refining? I have used him many times, I send junk and he returns silver rounds.

    I have a lot of 925 and other % jewelry and tableware. I don't know if i want to melt but it might be nice to sell kilo bars.

    I am just finishing up on selling all my coins. Been doing it all this year. It struck me that when I am six feet under my wife and daughter would have no idea on where or how to sell all my metals. I literally have 8 coins left.
    Plumbata likes this.
    When I did yard sales I was dollardan. No yard sales where I am now.

  10. #10
    us
    Martiobarbuli

    May 2012
    Wyoming
    White's
    1,316
    2117 times
    All Types Of Treasure Hunting
    I don't know what you mean by "guy on gold refining" but the refinery is Prospector's Gold & Gems in Fort Collins, the owner Dave is a member here but hasn't posted in years. Swapped some scrap gold for some awesome 1/10 oz gold rounds he mints too. I also think Hauser and Miller in St Louis return silver but as pressed bars. What place are you thinking about?

    Plenty of the quality flatware and stand-alone sterling is probably better kept as-is because of collector value but you're well experienced in that department. I get kilos mostly for personal preference, they will make whatever 3 or 7 or 25 ounce oddballs ya want but their poured 5 or particularly 10 ounce loaves are popular and probably better for your resale purposes. They're probably extremely busy right now though, still waiting on a batch I dropped off a month ago.

    Everyone must do what's right for themselves and their own situation but I'm stacking and holding on tight as long as possible. At 33 with babies to protect I'm probably grappling with different concerns than others, and in '11-13 did quite well trading silver profitability, whereas others may have been burned by expensive silver and spent these years hating silver and praying for the day they could break even and get rid of it. Been seeing plenty of that now and think it's an emotionally guided mistake, understandable but likely unwise in retrospect even a few months from now. That's very different than trimming down for the benefit of heirs or paying bills, obviously the one who collected it will know best how to get top dollar back out!

    Anyway, to avoid a long story and gigarolls of tinfoil, the World Economic Forum's January 2021 agenda for the Davos conference is the "Great Reset" and if you know anything about the group you know to take their schemes for all us plebians very seriously. Among other world events/trends the logical implications of their machinations and goals are why I'm holding as much real wealth/money as possible, especially silver because of it's critical role in the green energy focused "reset" of the global system they are gearing for and in all cutting edge technology generally. That's aside from the monetary function of silver which alone, like gold, would make it a safe hedge but combined with burgeoning tech demand will likely perform very impressively over the next 5-10 years and beyond.

    Here's the World Economic Forum's promo commercial for the "great reset"

    FAT SEXY likes this.

  11. #11
    us
    Dec 2006
    Very Northern Left Coast
    XLT & Bigfoot
    4,519
    2107 times
    All Types Of Treasure Hunting
    Quote Originally Posted by Plumbata View Post
    I don't know what you mean by "guy on gold refining" but the...
    If you were using him you would have known who I was talking about. On the goldrefiningforum.com a member named Jay (scrapman1077) will take your junk silver, have it refined and then send you brand new silver rounds. Of course he charges for this but takes it out in silver. His fees are not that bad and I have used him many times. I used to buy a lot of old junk silver and candlesticks etc at yardsales that could never be resold except as scrap. Still have the good stuff and getting ready to sell.
    Plumbata likes this.
    When I did yard sales I was dollardan. No yard sales where I am now.

  12. #12
    Charter Member
    us
    An unidentified coin is a piece of metal. An identified coin is a piece of history.

    Oct 2004
    N. San Diego area (Pic of my two best 'finds'; son and grandson)
    Minelab Explorer
    21,030
    15599 times
    Shipwrecks
    Honorable Mentions (2)
    IMO, as long as there is a reasonable chance Biden might win (as some believe today), the price of gold will continue to rise.
    Today, I'm a buyer; but that is not an endorsement of my political affiliation.
    Don...
    Plumbata likes this.

  13. #13
    us
    Martiobarbuli

    May 2012
    Wyoming
    White's
    1,316
    2117 times
    All Types Of Treasure Hunting
    Thanks Dan, I appreciate the info! PG&G will also refine for a 8-12% cut of the silver (depending on purity and volume sent in)

    Don, did you manage to grab some <12 spot silver in March? Most gold/silverbugs seem to agree that Biden would be easily manipulated by big interests and very open to ultimately inflationary policies, but seem to ignore the other 96% of the global population and the role billions of fearful individuals will play in the PM market. For example I just learned that India, which imports like 180 million ounces of silver a year for their elaborate wedding ceremonies, gifts, dowries etc. only imported 5 million oz so far because of the Wuflu shutdowns. The locked up demand there in India and everywhere else just waiting for access to functional global marketplaces will make things rather more interesting soon. We don't need a Biden to goad the PM bull I don't think, and I honestly don't see the possible Biden presidency as a particularly significant tailwind here, but it's always good to hedge your bets!

  14. #14
    us
    Silver Fiend

    Oct 2009
    9,560
    9220 times
    All Types Of Treasure Hunting
    Quote Originally Posted by Plumbata View Post
    ......

    Don, did you manage to grab some <12 spot silver in March? ....... We don't need a Biden to goad the PM bull I don't think, and I honestly don't see the possible Biden presidency as a particularly significant tailwind here, but it's always good to hedge your bets!
    There was no $12 silver available from mints or refineries. But you know the mines were still mining and the refineries were still cranking out the bullion. Its all just sitting there in giant stockpiles.
    You can follow me in other places.
    My Blog
    My YouTube
    My Twitter
    My Instagram
    My Facebook

  15. #15
    us
    Martiobarbuli

    May 2012
    Wyoming
    White's
    1,316
    2117 times
    All Types Of Treasure Hunting
    Yes I know, that's why I specifically stated "<12 spot" as premiums were crazy, cheapest I recall getting bullion for in March was 14.87/Ozt with premium. If I were a miner I'd be hoarding the stuff too and wouldn't be fooled into parting with physical at prices set by the trading of billions of unbacked paper/digital derivative ounces. It's plain stupid. Not sure what "big stockpiles" you are referring to but unlike gold I'm not really seeing stockpiles of silver waiting to be liquidated outside Peru or Poland so please share if you've seen some juicy info about it.

 

 
Page 1 of 2 12 LastLast

Home | Forum | Active Topics | What's New

Sponsored Links

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Similar Threads

  1. buying/selling/trading?
    By RustyRelics in forum HELP!
    Replies: 7
    Last Post: Apr 14, 2019, 11:56 AM
  2. Replies: 13
    Last Post: Sep 11, 2016, 10:09 AM
  3. Jewelerdave has a new site for Gold and Silver info buying selling etc
    By jewelerdave in forum Precious Metal Prices
    Replies: 3
    Last Post: Mar 23, 2011, 12:45 PM
  4. Selling 40% silver Kennedys and buying 90% or .999 1troy oz bars?
    By bthomas71chevy in forum Coin Roll Hunting
    Replies: 2
    Last Post: Nov 09, 2010, 05:15 PM
  5. Buying and selling coins
    By Tavis in forum General Discussion
    Replies: 3
    Last Post: Feb 19, 2008, 08:59 PM
Powered by vBadvanced CMPS v4.3.0