To Trade Or Not To Trade?

Discussion in 'Bullion Investing' started by alucard86, Jul 9, 2019.

  1. alucard86

    alucard86 Active Member

    I have 40 (20 oz in total) of 1/2 oz .999 silver Australian Shark Series coins (20 Great White & 20 Hammerhead). My top 2 LCS were at $280 cash or $300 trade-in value. I was looking to trade-in the silver for 1 oz silver rounds, which can net me 19 rounds (19 oz). Or do 90% halves at $24 FV (48 halves - mostly 64' Kennedy).

    So to trade or not to trade? I've tried selling locally via CLs, and I don't really want to go through eBay. There isn't really a market for these APMEX shark series coins. I bought them b/c I got them for spot price two years ago.

    The halves would equal 17.3614 oz of silver and the rounds would give me 19 oz even but I have 20 oz in total. Just wanted to get people's opinions and takes on it. Thx!
     
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  3. alucard86

    alucard86 Active Member

    Current melt on the Shark coins was $303 at the time (12:30pm CST). *Also one of the LCS just called saying I can do a full tube of 2019 Austrian Philharmonics at $330 minus my trade-in. I would need to bring in $30 cash. Basically getting 18 oz for the Shark coins. (1.50$ over spot for the Philharmonics).
     
    Last edited: Jul 9, 2019
  4. myownprivy

    myownprivy Well-Known Member

    Why would you trade silver for less silver?

    Plus, I'm sure you paid well over today's silver spot ($15ish July 2019) vs spot 2 years ago ($17-18ish) when you bought them, so selling at under melt today is especially foolish. Trading silver for less silver makes no sense. You'd lose $40 in the spot difference and lose at least an ounce of silver in the trade ($15+) you described, so you'd lose $55 minimum.

    Keep them.
     
    Last edited: Jul 9, 2019
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  5. Kevin wu

    Kevin wu Well-Known Member

    ye thy would you trade silver for silver ? and 1/2 oz silver cost more to buy .
     
  6. Bman33

    Bman33 Well-Known Member

    You're going to pay a commission to a dealer if you trade to them. I was thinking of trading a 1oz Gold Buff for silver rounds to a dealer a couple of weeks ago. GSR was 92 and I could only get 85 ounces of silver for it. I declined his offer.
     
  7. alucard86

    alucard86 Active Member

    I sold them locally to a buyer on Craigslist for $1 over spot per coin.
     
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  8. myownprivy

    myownprivy Well-Known Member

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