Selling Foreign Silver?
Nick Knight
This is probably just a rehash of old info, but I haven't cared much about
the price of silver and gold in quite some time. I did ask about silver
awhile back and got an answer, but it was a simple question.
I just sold 4 Cook Islands coin sets on eBay in 3 lots. As I expected, they
did pretty well as they all had silver content. However, IMO selling on
eBay (then shipping) is a pain, as I re-learned this morning while shipping
2 of the sets to an FPO/AP address. Anyway ...
Listening in to a thread here, I realized that a local shop MIGHT be able to
give me some percentage of spot. I was hoping this was competitive. I made
a single call and was quoted 65% of spot for foreign silver. Didn't sound
competitive to me ... is this par for the course with coin dealers? Has
anyone found better?
I assume jewelers also would be interested in this material, yes? Anyone
have an knowledge of how they treat this type of material?
Is eBay my best bet, once I get my shipping terms under control? Despite
the fact that I lost some work time this afternoon, and miscalculated one
shipping charge (totally my error), I netted about 90% or spot for final
bids, and shipping was beyond this.
With a short trip coming, I have to wait a week or so before trying again.
Hoping to use that time to gain some insight from those with more experience
in this area. Anyone?
Thanks in advance,
Nick
PS - I have quite of bit of 70's & 80's non-US silver in mint and proof
sets. Anyone here interested? For example, I found a $25 Jamaica proof
piece in my boxes - HUGE. Krause says it's 4+ oz ASW Silver. I have much
more!
Bremick
"Nick Knight" <bhnc...@mr2ice.com> wrote in message
news:4cabd836$1$avpx$mr2...@news.eternal-september.org...
> Gang,
>
> This is probably just a rehash of old info, but I haven't cared much about
> the price of silver and gold in quite some time. I did ask about silver
> awhile back and got an answer, but it was a simple question.
>
> I just sold 4 Cook Islands coin sets on eBay in 3 lots. As I expected,
> they
> did pretty well as they all had silver content. However, IMO selling on
> eBay (then shipping) is a pain, as I re-learned this morning while
> shipping
> 2 of the sets to an FPO/AP address. Anyway ...
>
> Listening in to a thread here, I realized that a local shop MIGHT be able
> to
> give me some percentage of spot. I was hoping this was competitive. I
> made
> a single call and was quoted 65% of spot for foreign silver. Didn't sound
> competitive to me ... is this par for the course with coin dealers? Has
> anyone found better?
>
> I assume jewelers also would be interested in this material, yes? Anyone
> have an knowledge of how they treat this type of material?
>
> Is eBay my best bet, once I get my shipping terms under control? Despite
> the fact that I lost some work time this afternoon, and miscalculated one
> shipping charge (totally my error), I netted about 90% or spot for final
> bids, and shipping was beyond this.
From a collector viewpoint, I still consider eBay to be the most profitable
place to sell my coins/bullion, even with the eBay-PayPal fees. Bidders
seem to monitor silver coin auctions to ensure nothing escapes for much less
than spot.
oly
IMHO and personal experience, you should try to catch the fine folks
from Silvertown at a physical coin show. You will get back of spot
for common foreign silver coins, but their overall offer will be much
better than 65%. I could think of two other individual dealers who
will pay pretty good too, but the names (but not the faces) escape me
right this moment.
oly