Is it really worth it to sell silver coins on Ebay?

Hey I've been thinking about selling some of my silver quarters off and only collecting ASE's. I'm trying to figure out how many of y'all sell mixed silver lots on Ebay and how many of you sell to your local smelter or coin shop? I didn't want to have a poll tho' so can y'all try to throw out a response to this question? :thumb:

 

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You'll get more on eBay than a local coin shop. In my experience.

 

Junk silver usually brings close to melt, but remember...13% is gonna be taken out.

What I don't get....

Thousands of people want to buy silver/gold coins close to melt...

and thousands of people want to get as close to melt as possible.

But most places give less than melt, and sell for more than melt.

There should be a website ran for free, that allows people to exchange PM's without having to pay any kind of fee.

 

90% silver actually usually has about a 5-10% premium above melt on ebay, sometimes even more... after fees and shipping you'll end up with over 90% of melt.

 

do not go to a coin shop!!!!!! They will rip you off!!!!!!!

 

Well then, what are you waiting for? That's a great money making idea.

 

Do you think I can get a price like that selling off some ugly dimes? I think I'd like to update my grandfather's collection by replacing a lot of the coins with some respectable specimens, rather than keep some of what sat in an attic for 40 years.

 

Hasn't anyone on this forum ever sold silver coins to their local coin shop and been happy with the price? I know one of the coin shops I go to I will get low balled but the other guy is alot nicer and he has made me good offers in the past. Any information would help.

 

Why don't you just find someone on here to buy them?

 

It's all about operating costs.

Also, it depends on who you try to please. Offer more for your stuff, but charge more to buyers, or offer less for your stuff, and charge less for buyers. I know of several local people who pay probably 70% on silver, but sells for spot.

You have to understand that no business can keep a float from buying and selling on spot.

I see people complain alot. "My silver dollar is worth $33, but I only got $28 for it." Well if the shop sold it for $33, then they only made $5 on that. Operating a business is not free.

 

BullionDirect.com, you can sell in lots of $10 face on their Nucleo exchange. The fee might be 1-2%.

 

Yeah, I thought of that already but I'm fairly impatient when selling so I may just go back on ebay again. I've sold quite a bit on their site already and I gotta start charging taxes so I've been putting it off for awhile. I'll end up doing one or the other, I just don't know which one yet.

 

Craigslist. No fees, and you can ask full melt. Simple.

 

List it on CT for a few days and if no interest then list on eBay. What's to lose?

 

Silver spot price.

 

I believe you have a future as a financial consultant, my young friend.

 

No, it's called "the cost of doing business." For more information see your financial consultant, or CT's own advisor: Detecto.

 

My B&M guy buys Eagles at spot and sells at $1.50 over spot.
Unless they are premium dates. Pretty fair deal, if you ask me.

 

this is a bold statement. maybe you just went to a bad store? my lcs's buy 90% 2 or 3 times back and sell at melt. i think thats fair. when silver was cheaper i used to sell 90% on ebay and realized i was collecting on average 3 or 4 times back of melt after all the fees and shipping so it wasn't worth it for me.

 

Well, which is it Detecto? You say it costs money to operate a business, then there's no such thing as running a website for free like you claimed here. Now a website could offer free services to visitors and members (if subscription/sign up based) but again, there's no such thing as a freely run website. Websites cost money. Even if your hosting a website for free, your time and resources in creating such a site are not free.