I have purchased junk silver for years but have never sold any. Currently restoring a 67 Chevelle and want to sell some to cover some body work. Is there a recommended way to sell some off? I called a few shops and (understandably) they are pretty far under the current value. Obviously I know they need to make a profit but they are nowhere close. I don't really want to advertise I have some to meet local and things like ebay bring in high prices then take a pound of flesh. Anyone have suggestions? And what's a fair price (xface value) for 90% silver coins right now?
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You can sell privately or to a local bullion/coin dealer or to places online such as apmex.comI am the admin... -
I am not a financial advisor.
Silver as with anything(such as body work for your 67 Chevelle) is worth what people are willing to pay. Not what is posted ie the current spot price of silver or the price of body work. You have the option to walk away and find a price more to your liking or are forced to pay said price.
If you were quoted a price much higher than spot price, would you have sold? Due to your wanting to purchase body work, I would guess yes. But if you had no need for body work, would you still sell? I would guess no.
In my opinion if the body work is essential, then sell your silver at whatever price you can get. Stressing over the decision is taking resources away from other things.
Quote “winning” should be that you were able to accomplish what you originally set out to do. Complete your 67 Chevelle.My CollectionComment
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I agree, honestly the reason I never sold any before is I have been a coin collector since I was a kid, just always loved them. So through the years I have accumulated tons of "junk" silver but more because of the coin itself. I could never sell before because to me its like selling part of my collection. Only reason I can justify it to myself now is I look at the Chevelle as another investment and something I will keep the rest of my life so I can let them go... although it's still oddly difficult.
This is the ONLY form of "social media" I have and always get some good advice so figured I would check in here before I pulled the trigger -
I see Paintball “stuff” as an investment. Enough as an investment as Silver. Silver has reached all-time highs in terms of price. I did not predict that Silver would ever reach these levels. I just bought when I was financially able and hoped for the best. Enjoyed buying, collecting, and playing with my Silver. I did sell some when I needed some cash. Much is the same for my Paintball “stuff”.
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I'd like to sell on FB but each attempt gets flagged.
Instead, I use a local coin/silver + gold buyer. You can get pretty good prices visiting a few in your area.Comment
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Go on Apmex or similar and look at bid/ask vs spot. If the spread is wide, you'll get far less than bid due to volatility. When they tighten up, you'll get within $2-3 of bid. Or should.
Theoretically, you sell at bid, buy at ask. But everyone wants an extra 5% to cover their odds. Call around if it's much past that. Google reviews can be handy at picking places that are closer to an even trade.Feedback
www.PhrameworkDesigns.com < Nelspot, Sterling, and Phantom parts, plus the occasional big project.Comment
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APMEX currently will buy American Silver Eagles at $81.11 and selling at $116.90. However, only at a minimum of $10,000 of silver. Selling only 1oz is not a possibility.
There are more sellers than buyers in this market(in the USA). The price is rising not because normal people want to buy silver. Those people reside in the Asian market.
My CollectionComment
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Money Metals is where I buy most of my precious metals. I have never sold anything back to them, so I can't speak to the details of the "selling" transaction. But they have always been easy to order from and transparent on pricing.
Here is a link to buy back for the "junk silver". Considering 90% coins pre 1965, are 0.715 oz. of silver per dollar face value. They are paying $9.98 bellow spot per oz. I don't know how that compares to what you have already been offered, but it might help you find the ballpark of what you can reasonably expect to sell them for.
https://www.moneymetals.com/pre-1965...nd-quarters/35Comment
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reddit is where I'e purchased from, r/pmsforsale, would recommend, don't get scammed https://www.reddit.com/r/Pmsforsale/
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