Let's Be honest, what can you really sell your Silver for?

Discussion in 'Bullion Investing' started by About Good, May 6, 2010.

  1. About Good

    About Good Junior Member

    I read everyone's reason's for collecting Silver.. Bars, coins, ingots, silverware, etc...(and gold can be included here too)..

    But come on, when the SHTF, where are you going to go sell it? That's right, ONE place, your local Silver and Gold store.
    Banks don't buy it, Grocery stores dont buy it, etc....
    So, you go in with your hoard....
    Now let's think about this for a second right here.!!
    What are you wanting? CASH..??!! Dollars.??!! Mulla.??!! Isn't this why you collected precious metals, to prevent taking paper??? Not trusting the dollar, but now , you want it like nothing else..!!! That's because CASH will always be king.!!
    Remember this, when the SHTF, ONLY Cash will be king, your precious metals will take a HUGE plunge if you try to exchange it for something .
    Anyway, my reason for posting this, is this,
    When Silver, gold, and platinum took a plunge about a year ago, I went into my local B&M and wanted to buy it all, they said "sorry, all out"..!! BS.!!
    I knew then, the bullion market was a farse.
    My question is this, what should my local B&M store pay me for an ounce of silver?
    Let's say Silver is at $18.00 an ounce. What should a reputable dealer pay me for a raw Silver eagle? How about a generic bar? or an ingot? or silverware?
    How about a Silver eagle in a pcgs slab graded at MS69? or ngc at MS69?
    any help is appeciated.., thanks.
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  3. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    An ounce of silver is an ounce of silver! And dont be fooled just because a
    Silver eagle is slabbed in a high grade doesnt mean its worth more!
  4. About Good

    About Good Junior Member

    I agree with you mpc, but given the $18.00 per ounce perspective.
    I walk in with a raw silver eagle, and a pcgs ms69 silver eagle,
    How much would a reputable dealer pay for each one?
  5. Simms

    Simms Tactile History

    When the SHTF, depending on situations, paper is paper, worth well paper. The stores will run out of goods, international commerce will cease and having year round produce will come to an end. I would suggest learning how to can foods for later. And I keep my silver and little bits of gold for when my family and I get really hungry. A farmer understands the value of trade goods, who knows how many chicken eggs one could get for a silver quarter? Go back in history, things of worth were, precious metals and trade goods that someone might want. But its hard to think of hard times, when everything in this world seems to be going so well. How could we fall back into the darkness of the "dark ages". When Rome fell, the dark ages came. Who knows what tomorrow brings, but we are a global Rome, if we fall once again, who knows... History repeats itself. But I am an optimist and I sure hope it doesn't.
  6. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Well,thats kind of a tuff question because every dealer is different your going
    To find some honest and well some not so much, So if you have a few dealers
    In your area you might want to check them out first, Kind of a sampling in
    Other words do your homework first!

    And dont forget what ever spot is you will pay this plus a percentage!
    If you sell it goes the other direction!
  7. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    What the _ _ _ _!! is this!!!:headbang:
  8. Dimefreak

    Dimefreak Senior Member

    they dont care about graded silver eagle etc. Id imagine they offer 15 dollars an oz for everything you listed except silverware……not sure on the silverware. I got a 1996 silver eagle at the we buy gold for 3.00 over spot, thats how I know they dont care about numistics.
  9. Dimefreak

    Dimefreak Senior Member

    Without starting a huge internet war. you can rest assure we will fall. Shortly after he changes our flag and hires yet another terrorist to work in the white house:rolleyes:
  10. SilverSurfer

    SilverSurfer Whack Job

    80 years ago the value of a dollar was about 20 times what it is now-a-days. Even though the value of the dollar bill has decreased to just 5% of it's former value, life simply goes on. I don't buy into the doom and gloom, barter trading society that you mentioned. But, considering the dollar bill is now only 5% of it's former value and life just simply goes on, makes me want to own some silver and gold, for when the dollar bill is .5% of it's former value, my silver and gold will be 10X their current value, and life simply will go on.


    You are assuming that a government will remain when the SHTF? Precious medals have been around since biblical times and has been loaded on trains, confiscated, seazed,stolen,pillaged,looted,buried,melted, guarded and hoarded during every war,disaster, biblical event or ect that has happened to society. Who cares what happens silver will be silver and gold will be gold and I if needed i will melt mine at home and trade it for a hamhock or ammunition as needed when and if the SHTF. IMO precious medals are simply the wordwide (hard cash) if you will say and it pays to have it regardless of what HTF.:D
  12. Cloudsweeper99

    Cloudsweeper99 Treasure Hunter

    A dealer near me posts his buying prices. Right now, it is $1 above spot for ASEs. Of course you have to exchange silver into cash to use it for some other purpose. I don't see how that invalidates anything.
  13. LostDutchman

    LostDutchman Under Staffed & Overly Motivated Supporter

    I am a little to midsized shop and we pay 95%-97% of spot depending on how much we are buying. The bigger shops can pay more then that. Sterling silverware gets discounted because it has to be processed and refined and there are fees that we have to incur to get it processed. I don't pay anything extra for 69 graded eagles.
  14. fools_gold

    fools_gold Junior Member

    If the SHTF, I'd be more concerned about safety and family/friends than money. My purchases of PM's are not for SHTF scenario but just to help smooth out possible rough spots down the road....

    I've mentioned it many times here I don't want any kind of Mad Max scenario....

    Who's to say cash will be worth anything either? You have $100 and the guy you need to buy a cupcake from might want $1,000 for it...
  15. LostDutchman

    LostDutchman Under Staffed & Overly Motivated Supporter

    If it gets to that... cash won't be king...

    guns and ammo will...

    lets just hope it never gets to that.
  16. Captainkirk

    Captainkirk 73 Buick Riviera owner

    The runaway inflation scenario is where PMs really do well. It may be 10,000 for a loaf of bread, but a silver dime or quarter may be worth 10,000.
  17. TheNoost

    TheNoost huldufolk

    Silver will be king because the vampires are coming back. Or was is it werewolves? Either way, I'll be selling my vegetables at discounted rates for silver. Cash customers will have to pay more.
  18. DoK U Mint

    DoK U Mint In Odd we Trust

    What He Said~

    Yep. You can melt down silver, Lone Ranger style and have something to use on the vampires.

    I just dumped a 10 ounce bar last month and it took about the time for the shop owner to write me a check.

    He didn't even look at the bullion!
    But I did look at his check!!!!:rolleyes:

    So I think that if TSHTF I can still use melted tire balance weights for ammo. I have enough guns to swap for food for awhile. And I try to only deal with folks I trust enough to do the right thing, no matter what "THE PRICE".
  19. LostDutchman

    LostDutchman Under Staffed & Overly Motivated Supporter

    I meant use the guns to take the food...

    But you could trade them too ;)
  20. DoK U Mint

    DoK U Mint In Odd we Trust

    All the above

    :thumb:We can form up, swap a few pieces and defend the water hole.:eat:

    If the world were made out of gold~
    What would you pay for a hand full of dirt?

    Now I'm off to plant my garden and save my ammo for the raider rabbits.:high5:
  21. xtronic

    xtronic Junior Member

    I hear people talk about that mythical time when the SHTF and how we will all be living in UN camps, eating dirt and such..... It is all fear based justification for not doing anything. I understand, it is not something that North Americans are used to dealing with.

    I have lived in a number of third world countries and watched how people deal with inflation (Peru 1996), currency crisis (Thailand 1997), crazy inflation (Turkey 1999), and social & financial destabilization (Zambia 2004). When the SHTF, people still watch TV, they still eat, they still want a DVD player. The way they paid for these things changed and compensated hourly for the perceived value of the currency.

    In Turkey, people would take their payday checks and buy bags of cement to retain value. Peru, they would buy gasoline and re-bar. Zambia they tried to buy medicine.

    In all those cases life when on - but those that had tangible, easy to transport assets were able to buy the anti-malaria medicine or an extra bag of rice while those that had suspect currency had to make due with less - not nothing but less.

    Don't let fear keep you from preparing for tougher times, don't let fear consume your present with distractions and paranoia. Use your judgment and knowledge to help your family now and in the future.
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