Wheres the best place to sell for the highest dollar?
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StevoCBR
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Re: Where's the best place to sell for the highest dollar?
Get to know your local dealers, those will be your best bets in my opinion. I do also hear of refiners paying 90% on silver but I can get spot pretty much if I want since the dealers are charging $4-6 over spot...yep you read correct .
Hortstu said:
Get to know your local dealers, those will be your best bets in my opinion. I do also hear of refiners paying 90% on silver but I can get spot pretty much if I want since the dealers are charging $4-6 over spot...yep you read correct .
SFBayArea
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Re: Where's the best place to sell for the highest dollar?
Did sell some eagles to APMEX a couple months ago. I did it for my mom who invested in some late last year. It was ok.. it took a while but they quote you on the phone and lock in the price over the phone. You send them the coins and they send you a check after they count everything. Other than everything taking a while to process, everything was fine.
Probably the best way is to find a private buyer and do private deals. Either locally Craigslist or through Feebay.
Did sell some eagles to APMEX a couple months ago. I did it for my mom who invested in some late last year. It was ok.. it took a while but they quote you on the phone and lock in the price over the phone. You send them the coins and they send you a check after they count everything. Other than everything taking a while to process, everything was fine.
Probably the best way is to find a private buyer and do private deals. Either locally Craigslist or through Feebay.
Diver_Down
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Re: Where's the best place to sell for the highest dollar?
Check out your local auction houses. Get to know them and patterns of buyers. I have a local auctioneer that deals mostly in firearms. He also sells coins. His buyers know their firearms, but don't know coins. I buy Morgans and Peace (uncirculated) for $30. I then can bring them to another auctioneer that deals mostly in antiques and collectibles. Morgans and Peace (culls) sell for $40. Uncirculated common dates sell $60 and above. If it is a slightly better date, then $100 and above is common.
Check out your local auction houses. Get to know them and patterns of buyers. I have a local auctioneer that deals mostly in firearms. He also sells coins. His buyers know their firearms, but don't know coins. I buy Morgans and Peace (uncirculated) for $30. I then can bring them to another auctioneer that deals mostly in antiques and collectibles. Morgans and Peace (culls) sell for $40. Uncirculated common dates sell $60 and above. If it is a slightly better date, then $100 and above is common.
MentalUnrest
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Re: Where's the best place to sell for the highest dollar?
I would check into coin shops. I am sure it varies greatly based on guy running it, but the one near me pays nearly melt value.
I would check into coin shops. I am sure it varies greatly based on guy running it, but the one near me pays nearly melt value.
ArkieBassMan
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Re: Where's the best place to sell for the highest dollar?
It just depends on how much trouble you want to go to, what your local coin dealer(s) pay, and if how much of a hurry you're in to receive your money.
In my area, the coin shop is the absolute worst place to go. I haven't been in there lately, but back when silver was ~$20/oz. he was buying at only 4x-5x face for 90%, and was selling for well over spot. I generally don't like trading with dealers as they usually want to make money off you on both sides of the transaction. They'll give you a low amount for your "trade-in" while charging full price for their items. Its just like trading in a used vehicle for a new one. You'll usually come out several dollars ahead by selling your used vehicle to a private party and buying the new one outright. Same thing with coins. You'll usually get more for what you sell if you sell to an individual. You also can usually get a better price from the dealer if you're paying with cash...at least in my experience. This however can take some time to find a buyer, and when dealing with the public you never know what kind of person you'll run into. Is the time, risk, and hassle worth the extra $$? Only you can decide that.
There are always the big metal exchanges such as APMEX. I have never personally dealt with them, but from what I understand they pay ~90-95% of spot. You also have the added expense of shipping and insurance, and have to wait for everything to be processed and have a check mailed to you. But it seems to be relatively safe and a better option than a low-balling dealer.
Personally, I'll take the option that gets me the best deal even if it means a little extra effort on my part, but thats just me. Only you can decide what's best for you.
Hortstu said:
It just depends on how much trouble you want to go to, what your local coin dealer(s) pay, and if how much of a hurry you're in to receive your money.
In my area, the coin shop is the absolute worst place to go. I haven't been in there lately, but back when silver was ~$20/oz. he was buying at only 4x-5x face for 90%, and was selling for well over spot. I generally don't like trading with dealers as they usually want to make money off you on both sides of the transaction. They'll give you a low amount for your "trade-in" while charging full price for their items. Its just like trading in a used vehicle for a new one. You'll usually come out several dollars ahead by selling your used vehicle to a private party and buying the new one outright. Same thing with coins. You'll usually get more for what you sell if you sell to an individual. You also can usually get a better price from the dealer if you're paying with cash...at least in my experience. This however can take some time to find a buyer, and when dealing with the public you never know what kind of person you'll run into. Is the time, risk, and hassle worth the extra $$? Only you can decide that.
There are always the big metal exchanges such as APMEX. I have never personally dealt with them, but from what I understand they pay ~90-95% of spot. You also have the added expense of shipping and insurance, and have to wait for everything to be processed and have a check mailed to you. But it seems to be relatively safe and a better option than a low-balling dealer.
Personally, I'll take the option that gets me the best deal even if it means a little extra effort on my part, but thats just me. Only you can decide what's best for you.
fistfulladirt
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Re: Where's the best place to sell for the highest dollar?
I've been paid decent prices at coin shows, local shows here once a month, ask around for the dealer paying the best price.
I've been paid decent prices at coin shows, local shows here once a month, ask around for the dealer paying the best price.
brendan1414
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Re: Where's the best place to sell for the highest dollar?
I would do ebay at first, even though you have fees, silver coins sell for WELL over spot basically instantly, and the paypal transaction is always perfect. The fees can be recovered with a price over spot. Craigslist has been nothing but success for me, and i do most of my transactions at my house. im not in a great area either, close to Youngstown Ohio. But if you do feel nervous about craigslist, then meet at a local spot and carry a knife. The first couple of times are awkward but i find it a fast, very liquid way to change your silver assets to cash.
I would do ebay at first, even though you have fees, silver coins sell for WELL over spot basically instantly, and the paypal transaction is always perfect. The fees can be recovered with a price over spot. Craigslist has been nothing but success for me, and i do most of my transactions at my house. im not in a great area either, close to Youngstown Ohio. But if you do feel nervous about craigslist, then meet at a local spot and carry a knife. The first couple of times are awkward but i find it a fast, very liquid way to change your silver assets to cash.
Re: Where's the best place to sell for the highest dollar?
Also about the knife... We live in 2011, what good is a knife going to do when they are carrying a gun?
Doing the transactions at your house is very dangerous and I would suggest never ever doing this. Best bet is to meet at a place like a bank or even a supermarket, always arriving there first and leaving last so the buyer doesn't know what you're driving and can't follow you. You don't want some stranger from CL knowing where you live and that you have valuable PMs in the house.brendan1414 said:
Also about the knife... We live in 2011, what good is a knife going to do when they are carrying a gun?
Generic_Lad
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Re: Where's the best place to sell for the highest dollar?
I also agree, sell it to a private buyer because it is a win-win. The buyer gets collectible silver at spot price which is cheaper than the coin shops and you get a smooth transaction with a better profit yield.
I also agree, sell it to a private buyer because it is a win-win. The buyer gets collectible silver at spot price which is cheaper than the coin shops and you get a smooth transaction with a better profit yield.
JD-GA
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Re: Where's the best place to sell for the highest dollar?
http://www.wsbtv.com/news/28111959/detail.html
How many times do you really think its going be before this happens to you? This was in my area a week or so ago. It happens several times a week on average that actually gets reported on the news. No telling how many never make it. Would you tape a $100 bill to your forehead and walk down the street? You would be safer because at least you are out in public. Inviting someone to your house and telling them ahead of time you have valueable coins or jewelry is just russian roulette. Goodluck.
brendan1414 said:
http://www.wsbtv.com/news/28111959/detail.html
How many times do you really think its going be before this happens to you? This was in my area a week or so ago. It happens several times a week on average that actually gets reported on the news. No telling how many never make it. Would you tape a $100 bill to your forehead and walk down the street? You would be safer because at least you are out in public. Inviting someone to your house and telling them ahead of time you have valueable coins or jewelry is just russian roulette. Goodluck.
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