I Need Help/Advice - Selling My 40%ers.

$ilver$urfer · Apr 17, 2011

Hello Fellow CRHers,

I need some help/advice from the forum here. I am selling my 40%ers but like everyone else I don't want to get ripped off when selling. As of today each 40% half is worth $6.36 in silver. Is $6 each a fair price to ask for each 40%er or am I dreaming? I was planning on selling to Provident Metals in TX but I am a little leery about sending a ton of my silver across state lines in case a disagreement occurs and no one on this forum has responded to my last post about how their selling experience was if they had dealt with them. What about APMEX? I just had a "reputable guy" offer me $7200 for $700 face of 40%ers and it felt like a slap in the face ($5.14 each or $1.22 cents less than they are worth). I always get these BS responses that they are harder to melt but I know they are traded in $500 bags as commodity units just like 90% silver coins so I guess my question is: who pays the best price and is trustworthy to deal with? I am willing to drive to a dealer within 2 hours of the western NY area in any direction or am willing to ship I just need some legitimate advice, please, and thank you very much!!! I think sound advice on selling 40%ers and silver in general will help many on here, not just myself!!! :thumbsup:

HH,

$ilver$urfer :hello:

jonhls · Apr 17, 2011

I have dealt with apmex and would highly recomend them.I also sell occasionaly to a local dealer but mostly just sell sterling to them as apmex does not accept that.I always compare prices and apmex always beats anyone local.They require you to have min. 1000.00 in value,not face value but metal value.Also as with any other dealer if you sell 1000.00 face you will get a 1099.

clovis97 · Apr 17, 2011

Why not craigslist

It will take you a little more time, for meeting up with your buyer, but I think you'll get closer to your $6 each, and maybe a little more.

Of course, you are going to meet up with your buyer in a safe place, like a bank, etc, and not your home.

I wish my finances were different. I'd like to be a buyer...to bad I'm broke!!!!

blkcwbyhat · Apr 17, 2011

I'm a little confused,as to why your selling.I see you have quite a pile there,so room might be an issue.Aside from that,do you need the money now? Are you moving to 90's or .99? Maybe trade up at a coin dealer or pawn shop,craigslist,feebay....My other issue,you don't want to get "ripped off"? Assuming that you got these thru CRH,you paid .50 cents.Now you feel ripped off getting a 4.50 profit? Like my daddy always said,Any profit is a good profit.If you sold today at 5.14 each,and the melt fell to 30.00 tomorrow,would you be thrilled?

$ilver$urfer · Apr 17, 2011

clovis97 said:
Why not craigslist It will take you a little more time, for meeting up with your buyer, but I think you'll get closer to your $6 each, and maybe a little more.

Of course, you are going to meet up with your buyer in a safe place, like a bank, etc, and not your home.

I wish my finances were different. I'd like to be a buyer...to bad I'm broke!!!!

I am leery of sketchballs/thugs/goons/etc. on CL! I know about being safe but I just feel uneasy about unloading $500 to $1000 of 40%ers at a time to a stranger on CL. I've got 70 rolls so it could take a while. I like quick and easy and a good price! :thumbsup:

Maybe I'm dreaming?

HH,

$ilver$urfer :hello:

$ilver$urfer · Apr 17, 2011

blkcwbyhat said:
I'm a little confused,as to why your selling.I see you have quite a pile there,so room might be an issue.Aside from that,do you need the money now? Are you moving to 90's or .99? Maybe trade up at a coin dealer or pawn shop,craigslist,feebay....My other issue,you don't want to get "ripped off"? Assuming that you got these thru CRH,you paid .50 cents.Now you feel ripped off getting a 4.50 profit? Like my daddy always said,Any profit is a good profit.If you sold today at 5.14 each,and the melt fell to 30.00 tomorrow,would you be thrilled?

Good point, I have mentioned in previous posts that I would like to pay off some CC debt that has been hanging on me and my wife for a few years. I guess I could just service my debt like I have been and get it paid off eventually but I would like to be "free and clear".

Once you own an asset, I don't think it matters how you acquired it (CRHing legally of course), it is yours and is worth what it is worth. I think selling at $6 each is not too much to ask which means the buyer is getting silver at over $2.50 less than current spot price per ounce. I think that is a fair deal selling, maybe I am wrong?

I am cost-averaging my sales along the way as I know silver is still on the way up but I am not totally convinced the sky will fall either, but who knows for sure? By selling along the way I am making a profit and paying off my debt. I just don't think I could in good conscience sell $8900 worth of my silver for $7200, regardless of what I got it for! :wink:

HH,

$ilver$urfer :hello:

blkcwbyhat · Apr 17, 2011

Silver:
Ok,you need a quick influx of cash for a CC debt.Good plan,pay it off ASAP.But if you get a monthly bill,why not sell a bit each month,and send it in?Maybe a double payment,triple,whatever.Trust me,I'm not a financial planner,but I'd rather make a few extra payments and keep the silver on hand,rather than dump it all today and see it go thru the roof! You might just break a leg kicking yourself in a month!

coinfinder · Apr 17, 2011

Poll the group for a good place to sell silver in your area. That's what I did and I got 6 bucks apiece for my 40% halves. I did this on Friday and feel that I got a very fair price. With a little perseverance, I think you will get what you want. Craigslist, to me, is a little too dangerous.

65gt350 · Apr 17, 2011

$6 per coin sounds very fair. In fact that is close to what Tulving will pay for them right now. I have yet to find a local dealer that will pay better than them ($2.00 behind spot). They will pay for overnight shipping using UPS and you will get a check within 3 days via USPS.

It is a min. $1K FV buy but there is no 1099 on 40% silver sales.

You might want to go back to the guy offering to buy them at 5.15 and buy $300FV to fill your bag and ship it off to Tulving.

HH,
65GT350

markmopar · Apr 17, 2011

try here:
http://www.bulliondirect.com/nucleo.do

JD-GA · Apr 17, 2011

The issue with the 40% will always be the cost effect of removing the silver from the coin even though only a few refineries actually melt them. The fact there is a large cost in materials and labor to refine a large weight of coin to get the actual precious metals makes them less desirable. So as long as there are other coins out there .999 bullion, 90% etc that you can buy for the same percentage under melt or at melt as you are wanting for your 40% you can continue to expect less money for them.

Here is a simple question. Given the choice.....if there were 2 piles of coins in front of you.......one being a pile of 90% silver that had 10 oz of melt silver in it, or a much larger pile of 40% coins with the same 10 oz of melt silver in it for the same price which would you take?

Ive been buying anywhere from $100 to $400 face value of 90% silver every week for nearly 2 months at about the same percentage under melt or less than you want for your 40%s. Ive turned away $1200 in 40% during those same 2 months because I can use my money more efficiently buying a more desirable coin.

You CAN get $6 but like the others say above its gonna take some serious work on craigslist or you will need to wait a few more weeks. Haha but then there will be $7 melt per coin or more and you wont be happy. Darned if ya do.........etc.