Selling advice requesed

Hi, I’m a new member and have been accumulating silver coins and bars, as well a little gold, for the last couple of years. I consider it a hedge against economic downturn and as part of my retirement savings. My concern is, that while my asset may be appreciating, that is only useful if I can realise the gains when I need to. I know I can sell back to commercial bullion traders, but they generally only pay spot. I believe Ebay has just increased their commissions and charges to near extortionate levels, and is also prone to scams and rip offs for the unaware. So I’m wondering if any of the more experienced members may be able to recommend a platform on which to trade? Is there any service available, that allows precious metal, coin and bullion collectors to buy and sell directly between themselves with a level of confidence and at a reasonable cost? Thanks for any advice you may offer. Gaff

 

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Thanks, I'll check it out.

 

This site has a market place. I think you need to have 10 or more post before you can use it.

 

I look at the round trip right before I buy. Round trip meaning premium I pay to buy and how much I get over or under spot when I sell. Right now I can get a ten oz bar for $.69 over spot and sell back at spot. If you want to know more PM me.

 

Okay so at the current price of $18.63 (as of this writing), $0.69 is 3.7%. What is a good ratio?

 

Endeavor, I am not that mathemacially inclined. The round trip is $.69 cents. When I first started buying I was paying a $4.00 round trip. $2 over to buy and $2 under to sell. I am not sure about the ratio. It was a 10% premium when I had the $4 round trip.

 

Craig's List is the most cost effective - and risky.

All other sources have a premium of some sort. There's no free lunch!

 

Gaff-Oz, this forum as well as other forums has a buy / sell feature when you have enough postings. Be aware that the members of these forums will not buy with any high premiums attached because of their knowledge of the PM's so when I go to sell any silver coin I always refer to the melt value of a coin I am trying to sell and then post the price I am looking for.

Also try your local LCS.

ST

 

When it comes time for me to sell, I will likely just go to a local shop. Walk in with the metal, walk out with a check or cash. One shop I know of pays spot +$2 on ASE. Another pays spot +$10 on AGE. To me, not having to deal with strangers, paying to mail it off, getting scammed, paying eBay/PP fees ect, is well worth giving up a buck or two.

 

I don't know if you have any shops around but if you do go see what they would offer. It often comes out to about the same when you factor in the fees and shipping costs selling any other way for common bullion

 

California Numismatic Investments (a PNG dealer I believe) publishes their buy/sell prices on their website. I have never bought or sold from them but I consider their spreads reasonable. I would use a source such as this one as a reference.

In selling to them or anyone else, it will also depend upon what you own. My recollection is that they don't buy or sell "off name" bars or rounds. For silver, I won Maple Leafs and for gold, mostly American Eagles.