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Old 04-19-2013, 11:06 PM   #201 (permalink)
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I think im going to get in but im going to be doing more reading and finding out all the info i can. this thread is really helping me tho thanks to all with the great advice. thanks guys.
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Old 04-19-2013, 11:07 PM   #202 (permalink)
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Something else to keep in mind is the premium, (or lack thereof), when selling your silver.

Government minted 1 oz. coins have a higher premium when buying as apposed to 100 oz. + bars, but they also carry a nice premium when selling.

It's all part of the learning process and deciding what's best for your investment objective.
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Old 04-19-2013, 11:09 PM   #203 (permalink)
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I think im going to get in but im going to be doing more reading and finding out all the info i can. this thread is really helping me tho thanks to all with the great advice. thanks guys.
I feel the same way... this thread was definitely a big help. Hopefully when you make some good money you can throw me over an oz or so? Haha

Please feel free to share any info you find out there, I will do the same. GL
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Old 04-19-2013, 11:17 PM   #204 (permalink)
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Something else to keep in mind is the premium, (or lack thereof), when selling your silver.

Government minted 1 oz. coins have a higher premium when buying as apposed to 100 oz. + bars, but they also carry a nice premium when selling.

It's all part of the learning process and deciding what's best for your investment objective.
It's a premium when selling to the average joe? I can see me being able to get a premium selling on ebay, or to the average person, but the big buyers/sellers also? I think they just pay by the oz period, no?

That's why I don't want to buy high premium silver, mostly because of the premium itself. Cause when it comes time to sell to the big buyers, they will only pay silver spot price. Well, under spot actually, around a $1 under. I wonder if that changes though when silver goes higher. I doubt those guys pay premiums, but I definitely could be wrong.

Not really profit though even if you could get premium, as you pay it up front and then get it back? I don't plan to sell to the average joe. I'd rather move it big and fast. Heck, when it comes to cards I hate having $20 and $30, and $50 cards..... i'd rather sell that $500+ card. Much easier and less people to deal with. Same with silver imo. But hey, everyone does what they think it right for them. Not saying anyone is wrong. I just can't see myself selling to many people. Again, as said earlier, it's definitely good to have "some" small bars and coins, but very little for me. Can come in handy for many different reasons, but I don't see the need for 1000 oz all in 1 oz bars or coins.
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Old 04-19-2013, 11:29 PM   #205 (permalink)
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It's a premium when selling to the average joe? I can see me being able to get a premium selling on ebay, or to the average person, but the big buyers/sellers also? I think they just pay by the oz period, no?

That's why I don't want to buy high premium silver, mostly because of the premium itself. Cause when it comes time to sell to the big buyers, they will only pay silver spot price. Well, under spot actually, around a $1 under. I wonder if that changes though when silver goes higher. I doubt those guys pay premiums, but I definitely could be wrong.
Not true if you're referring to government issued 1 oz. coins.

Selling government minted 1 oz. coins to the LARGEST of buyers will still command a premium over spot. Selling 100 oz. bars to the same people is a different story. Like you said, spot minus a premium is what those sell for.

Right now, dealers are buying U.S. silver 1 oz. Eagles for $2 over spot, and you can sell them 100,000 ounces if you want. They will buy it all. However, those same dealers are only paying spot minus 40 cents or more for 100 oz. silver bars.

100 ounces of coins would yield you $240 more right now than a 100 oz. bar. So if you're only saving approximately $200 by buying 100 oz. bars, personally, the hassles that go along with those larger bars aren't worth it, in my opinion. But that's just me.
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Old 04-19-2013, 11:35 PM   #206 (permalink)
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Not true if you're referring to government issued 1 oz. coins.

Selling government minted 1 oz. coins to the LARGEST of buyers will still command a premium over spot. Selling 100 oz. bars to the same people is a different story. Like you said, spot minus a premium is what those sell for.

Right now, dealers are buying U.S. silver 1 oz. Eagles for $2 over spot, and you can sell them 100,000 ounces if you want. They will buy it all. However, those same dealers are only paying spot minus 40 cents or more for 100 oz. silver bars.

100 ounces of coins would yield you $240 more right now than a 100 oz. bar. So if you're only saving approximately $200 by buying 100 oz. bars, personally, the hassles that go along with those larger bars aren't worth it, in my opinion. But that's just me.
No, i'm just talking about any silver. They would pay $1 under spot when it was in the $40 and change range.

But when it comes to the American Eagles, is it really more money in your pocket? You're saying they pay $2 over spot, but i've seen remiums of those coins of $3 to $6 each coin! So where's the money to be made on the premium? If anything, that's losing $1 to $4... am I missing something?

Also, I can understand the tax thing if you're selling over $10,000.00 worth.... But the oz would have to be at $100 an oz for that to happen, so it shouldn't be a problem, for a while at least. If anything, I can always cut the bar in half! haha
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Old 04-19-2013, 11:44 PM   #207 (permalink)
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Not true if you're referring to government issued 1 oz. coins.

Selling government minted 1 oz. coins to the LARGEST of buyers will still command a premium over spot. Selling 100 oz. bars to the same people is a different story. Like you said, spot minus a premium is what those sell for.

Right now, dealers are buying U.S. silver 1 oz. Eagles for $2 over spot, and you can sell them 100,000 ounces if you want. They will buy it all. However, those same dealers are only paying spot minus 40 cents or more for 100 oz. silver bars.

100 ounces of coins would yield you $240 more right now than a 100 oz. bar. So if you're only saving approximately $200 by buying 100 oz. bars, personally, the hassles that go along with those larger bars aren't worth it, in my opinion. But that's just me.
I'm not really sure what you mean... maybe i'm missing something?

So you said that they pay you $2 over spot price, but to begin with, when you buy, it costs you $5 over spot!?

American Silver Eagles | Silver Bullion Coins | 1 Troy Oz. .999 Silver

So aren't you losing $3?
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Old 04-20-2013, 12:16 AM   #208 (permalink)
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I'm not really sure what you mean... maybe i'm missing something?

So you said that they pay you $2 over spot price, but to begin with, when you buy, it costs you $5 over spot!?

American Silver Eagles | Silver Bullion Coins | 1 Troy Oz. .999 Silver

So aren't you losing $3?
So is it easier to sell coins then bars or bullion?
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Old 04-20-2013, 12:22 AM   #209 (permalink)
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So is it easier to sell coins then bars or bullion?
Well, it's easier to waste money on the American Eagles haha

I think one bar would be much easier to sell. But that's just me. I couldn't stand having 1,000+ 1oz bars or coins laying around, or taking up space in my safety deposit box.

You'll figure out what works best for you as you get them. My first purchase was a full roll or every(I think) possible coin. The 10z Eagles, and the rest Scottsdale brand, the half oz, quarter oz, and 1/10th oz. Or at least that's all the different ones Scottsdale had. When I got them I started to think........ just not for me. I'd rather stick with 100oz bars. 10oz bars, and in between. I hate the look of those giant coins, just so ugly imo. I won't be collecting silver as a collection like cards, so 100 oz bars it will be.
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Old 04-20-2013, 12:30 AM   #210 (permalink)
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Well, it's easier to waste money on the American Eagles haha

I think one bar would be much easier to sell. But that's just me. I couldn't stand having 1,000+ 1oz bars or coins laying around, or taking up space in my safety deposit box.

You'll figure out what works best for you as you get them. My first purchase was a full roll or every(I think) possible coin. The 10z Eagles, and the rest Scottsdale brand, the half oz, quarter oz, and 1/10th oz. Or at least that's all the different ones Scottsdale had. When I got them I started to think........ just not for me. I'd rather stick with 100oz bars. 10oz bars, and in between. I hate the look of those giant coins, just so ugly imo. I won't be collecting silver as a collection like cards, so 100 oz bars it will be.
im not collecting silver like I do cards either.Good post gio
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Old 04-20-2013, 12:39 AM   #211 (permalink)
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I still cannot believe what people pay for silver from online houses.
It just blows my mind TBH.
I have sold silver to members here before at spot +1 on ounce rounds and they pay shipping and evidently I should get back into it and charge spot +3 and shipping because CLEARLY there are people out there just dying to pay those prices.

Your drawback is you are not in a small town, that is not your plus
You get a refining account and turn enough you get spot from the refiner unless there is a run,then the refiner offers spot +
Most refiners,not that online load of BS crap, pay spot on silver and spot on gold.
Like, Platinum, I only get 92% for it because it's a minimal interest metal here and in the market,regardless of it's PPO.
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Old 04-20-2013, 12:42 AM   #212 (permalink)
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I still cannot believe what people pay for silver from online houses.
It just blows my mind TBH.
I have sold silver to members here before at spot +1 on ounce rounds and they pay shipping and evidently I should get back into it and charge spot +3 and shipping because CLEARLY there are people out there just dying to pay those prices.

Your drawback is you are not in a small town, that is not your plus
You get a refining account and turn enough you get spot from the refiner unless there is a run,then the refiner offers spot +
Most refiners,not that online load of BS crap, pay spot on silver and spot on gold.
Like, Platinum, I only get 92% for it because it's a minimal interest metal here and in the market,regardless of it's PPO.
thanks man, nice post. refining account? can you elaborate please?
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Old 04-20-2013, 12:48 AM   #213 (permalink)
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Well, it's easier to waste money on the American Eagles haha

I think one bar would be much easier to sell. But that's just me. I couldn't stand having 1,000+ 1oz bars or coins laying around, or taking up space in my safety deposit box.

You'll figure out what works best for you as you get them. My first purchase was a full roll or every(I think) possible coin. The 10z Eagles, and the rest Scottsdale brand, the half oz, quarter oz, and 1/10th oz. Or at least that's all the different ones Scottsdale had. When I got them I started to think........ just not for me. I'd rather stick with 100oz bars. 10oz bars, and in between. I hate the look of those giant coins, just so ugly imo. I won't be collecting silver as a collection like cards, so 100 oz bars it will be.
Rounds sell much easier than bars
BUT
What sells better than rounds are circulated coins.
I sell 10-12 rolls of dimes a week, few rolls of quarters
Bu, as I have said several times
Scrap jewelry beats it all
I sell a fair amount of jewelry. The DOWN side to Jewelry is you have to keep revolving it. Your silver buyers who want jewelry,get tired of seeing the same stuff. If they have to look over it to get at new stuff,they stop coming in. learned that one the hard way

I have began moving Designer pieces and vintage pieces on ebay. I am still getting *ROUGHLY*shop price as I charge 18.50/ring and give free shipping so I get around 14.25 per ring, but crap that sits at the shop is selling on the bay. It;s all free money to me. I mean, that antique Indian jewelry costs me MAYBE 3-4.00, give or take, so I still clear 10.00 a ring when it is said and done off of something that may have actually 4g of silver weight...so much more intelligent than busting it out and getting my 3.20 in silver

ALSO

Do what is fun

If you are not sinking your entire life savings and trying to play Metal Market slots,have fun

A friend LOVES Christmas Rounds... most common pieces of crap on the planet,but I save every one I get for him
Dad refuses to sell his barbers regardless of the condition,demand and market...he has fun collecting them and he is NOT a coin collector (He also loves CC's...who knows why)

and I have fun with Jewelry

Do

Do what you find to be FUN on top of the WEEEEEEEEEEEEEEEE factor
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Old 04-20-2013, 12:54 AM   #214 (permalink)
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thanks man, nice post. refining account? can you elaborate please?
It is when you set up an account with a refiner...USUALLY a scrap yard : )
You agree to deliver a MINIMUM of X weight per month and the promise you X of market on each delivery

This USUALLY only applies to precious metals.

You just have to find a refiner who's not greedy
They get over spot on their end when they sell it to companies for industrial use.
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Old 04-20-2013, 12:58 AM   #215 (permalink)
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I really think the silver buyers will buy silver no matter what it is.... silver is silver, and they will buy it a bit under spot. They'll take it all, won't pick and chose. Sure if you're selling to individual buyers on ebay, or shows, and places like that, they will want whatever appeals to them, and not just buy "any" silver. But that's not the people I want to sell to anyway. I would rather sell a lot at once to a big buyer. But we will all find what's best for us I guess.

Who knows, I might just splurge too.... If I were to have a tiny side pc, it would probably be PAMP bars of all types, golf and silver, all different sizes. I LOVE EM!!!!! I'll try to stay away from the urge, but will I be able to resist? I hope so.

Buying scrap gold jewelry is the best! You buy gold waaaay under spot, then turn it into beautiful PAMP bullion!!!!
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Old 04-20-2013, 01:00 AM   #216 (permalink)
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OH
Another part of the silver industry is this

Alabama 1 oz 999 Silver Crimson Tide Proof NCAA Football Basketball Baseball | eBay

I get 75.00 a pop out of the shop for everyone of these I find.
If I had 100 walk in the door tomorrow, 2 customers would beat my door down to buy them all.

Keep an eye out for sports related coins. They usually bring a MASSIVE premium in your local market.
Other stuff

Coke Cola silver bars and coins
McDonalds
ANYTHING that would be legitimate advertising pieces command a INSANE mark up
I have a 1981 Mardi Gras Dubloon that was issued by pepsi. It is a 1oz round soooo oxidized it looks black... I have PASSED up offers of 1250.00

So, more food for thought
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Old 04-20-2013, 01:01 AM   #217 (permalink)
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The info is flowing tonight! Great stuff Gibberish
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Old 04-20-2013, 01:01 AM   #218 (permalink)
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I really think the silver buyers will buy silver no matter what it is.... silver is silver, and they will buy it a bit under spot. They'll take it all, won't pick and chose. Sure if you're selling to individual buyers on ebay, or shows, and places like that, they will want whatever appeals to them, and not just buy "any" silver. But that's not the people I want to sell to anyway. I would rather sell a lot at once to a big buyer. But we will all find what's best for us I guess.

Who knows, I might just splurge too.... If I were to have a tiny side pc, it would probably be PAMP bars of all types, golf and silver, all different sizes. I LOVE EM!!!!! I'll try to stay away from the urge, but will I be able to resist? I hope so.

Buying scrap gold jewelry is the best! You buy gold waaaay under spot, then turn it into beautiful PAMP bullion!!!!
No
Not me.
I pay the same on jewelry,coins,flatware. I do not deviate because a metal is in 1 form over another. It's jsut ....not honest as far as I am concerned. I am not saying people who do it are dishonest, I just find it an principle with me.
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Old 04-20-2013, 01:03 AM   #219 (permalink)
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UGH
Ignore that lol
I just read they are going to be CLAD....
Avoid commemorative clad crap...please
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Old 04-20-2013, 01:12 AM   #220 (permalink)
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Gibberish, why don't you start a class where you teach a ton of people at the same time in some hotal room, for $99 a pop? I would come...

Just throw in a few youtube vids while you're at it and you're good to go! lol

Great info as usual. Thanks! I almost feel bad that you're not charging
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Old 04-20-2013, 01:48 AM   #221 (permalink)
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These sell for more than melt from the Perth Mint, only 12,869 of the 2oz rabbits were made and 18,124 of the monkey.
http://
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Old 04-20-2013, 02:03 AM   #222 (permalink)
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These sell for more than melt from the Perth Mint, only 12,869 of the 2oz rabbits were made and 18,124 of the monkey.
http://
One word: Scarcity
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Old 04-20-2013, 02:45 AM   #223 (permalink)
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One word: Scarcity
Well yeah... when you sell it to other collectors, they will give you premiums because it's a collection to them. But people who buy melt only, will only pay you melt. There are all different buyers and sellers for different things. They could be made of copper and sell for good money based collector interest. But that's a whole other story.
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Old 04-20-2013, 02:57 AM   #224 (permalink)
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Well yeah... when you sell it to other collectors, they will give you premiums because it's a collection to them. But people who buy melt only, will only pay you melt. There are all different buyers and sellers for different things. They could be made of copper and sell for good money based collector interest. But that's a whole other story.
You'd be a fool to melt a scare coin, period. Hell, a terribly conditioned 1798 Silver dollar is still worth more than melt.
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Old 04-20-2013, 03:05 AM   #225 (permalink)
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You'd be a fool to melt a scare coin, period. Hell, a terribly conditioned 1798 Silver dollar is still worth more than melt.
Yes, I understand this. Not saying anything is wrong with collecting coins... just not my thing. I already have one too many things to collect - cards! I don't need something else to collect. Silver will be an investment for me, and I will not be buying rare coins as a collection or investment. I will just be buying gold and silver for the melt value... buying bullion.

Nothing wrong with collecting coins if that's what you enjoy.


By the way guys, I found this three part video on youtube. VERY interesting!

http://www.youtube.com/watch?v=cY-CQFYJQMg
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