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Quiet Guy

Selling Silver

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Onis_uk posted a question about selling PMs which made we wonder: how many forum readers have had positive experiences selling silver in the UK?

If anybody has successfully sold silver to a dealer (not Ebay), please would you advise what % of spot price and which dealer you sold to.

Thanks in advance to any responses.

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This has always baffled me why anybody wants to sell to a dealer under spot when you can sell it way over spot on ebay.

I bought most of my silver at around £18 one year ago I would think a dealer would maybe give me £20,where as on ebay you would get over £30.

Only an idiot would sell to a dealer.

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I have never sold PMs yet.

However, when I phoned Baird's enquiring about prices each/way, the snotty nosed ***** on the end of the phone stuttered in astonishment and then asked me;

"well, what is the spot price of gold at the moment"

"872 quid", I told him.

"well if we were buying gold from you then we would buy it for 872 pounds then wouldnt we.", he replied as though I was some sort of retard.

I then phoned up another dealer who had someone much more polite on the telephone and bought 10 ounce gold coins from them instead.

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This has always baffled me why anybody wants to sell to a dealer under spot when you can sell it way over spot on ebay.

I bought most of my silver at around £18 one year ago I would think a dealer would maybe give me £20,where as on ebay you would get over £30.

Only an idiot would sell to a dealer.

I've never been keen on ebay - a slow and high hassle method if you have large amounts to sell but I see what you mean about prices.

I notice that nobody has actually said they've sold silver yet.

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I've never been keen on ebay - a slow and high hassle method if you have large amounts to sell but I see what you mean about prices.

I notice that nobody has actually said they've sold silver yet.

I understand why people don't like eBay as it can be a pain but unfortunatley it is probably the best option.

I have sold a lot of silver there and found it is better sell it in larger quantities than one coin here and there.

The minimum I would list would be 5oz at time.

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I understand why people don't like eBay as it can be a pain but unfortunatley it is probably the best option.

I have sold a lot of silver there and found it is better sell it in larger quantities than one coin here and there.

The minimum I would list would be 5oz at time.

Because ebay is slow and unreliable (1-2 weeks till you get paid), it has high charges and filled with shills, which use the second offer BS to try get you as well.

Not to mention it is filled to the brim with scammers and scummers. Since sellers can no longer neg buyers, buyers are free to bid up things they have no intention of buying.

Back in 2007 it was bad, when I crashed a bike, to buy replacement bits it cost me £500 it should have cost me £370 but I constantly got scammed. People listing things as good condition, like a wheel which was listed no dings no cracks perfectly straight. It came and had a massive ding in it. They stone walled me when I asked for a refund.

Thus how many of those completed sales are actual completed sales? I.e. they are not the seller accidentally buying his own stuff through shill bids (note ebay encourages shill bidding by hiding user IDs and it also gets a bigger fee for higher prices of stuff sold).

Thus on the surface ebay may look good, but dig a bit deeper and you might find the rotten bits. The price offered by dealers is of course lower but the lower price you recieve is to get the money in a day. To not have to deal with the ebay scummers and their reputation is good for it, the same can't be said of ebay.

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This has always baffled me why anybody wants to sell to a dealer under spot when you can sell it way over spot on ebay.

I bought most of my silver at around £18 one year ago I would think a dealer would maybe give me £20,where as on ebay you would get over £30.

Only an idiot would sell to a dealer.

ebay is too much hassle , i sell mine back to the perth mint , they buy at a couple of % under spot but it's quick , easy and i still have a big profit waiting to cash in (bought most silver at $18)

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ebay is too much hassle , i sell mine back to the perth mint , they buy at a couple of % under spot but it's quick , easy and i still have a big profit waiting to cash in (bought most silver at $18)

sorry but i think this is crazy

as a large buyer and seller of silver on ebay for the last 5 years, i can safely say that anything 'perth mint' sells at a massive premium to spot on ebay, easily enough to end up in profit over spot.

i have sold 1oz lunars, kooks, koalas and 10oz kooks, and evertime i am well in profit after fees over spot price

Edited by p.p.

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I have never sold PMs yet.

However, when I phoned Baird's enquiring about prices each/way, the snotty nosed ***** on the end of the phone stuttered in astonishment and then asked me;

"well, what is the spot price of gold at the moment"

"872 quid", I told him.

"well if we were buying gold from you then we would buy it for 872 pounds then wouldnt we.", he replied as though I was some sort of retard.

I then phoned up another dealer who had someone much more polite on the telephone and bought 10 ounce gold coins from them instead.

Baird's do have a certain old school British Rail telephone manner. :lol:

In contrast, Guernsey Mint are always helpful and friendly. When I asked what they paid, they told me 98% of spot price.

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sorry but i think this is crazy

as a large buyer and seller of silver on ebay for the last 5 years, i can safely say that anything 'perth mint' sells at a massive premium to spot on ebay, easily enough to end up in profit over spot.

i have sold 1oz lunars, kooks, koalas and 10oz kooks, and evertime i am well in profit after fees over spot price

good for you , you've been selling for 5 years on ebay

who would trust me , who has 0 rep on ebay since i have never sold anything over it , in the already scam high gold/silver ebay market?

it's less hassle to just sell to a dealer

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good for you , you've been selling for 5 years on ebay

who would trust me , who has 0 rep on ebay since i have never sold anything over it , in the already scam high gold/silver ebay market?

it's less hassle to just sell to a dealer

it may be less hassle but it's a lot less money

but it's your choice of course - if you want to bump up your feedback, go out to a car boot sale or charity shop and buy a load of cd albums, spend a few hours listing them on ebay (you can use the barcodes so need for pics) and boost your feedback this way.

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it may be less hassle but it's a lot less money

but it's your choice of course - if you want to bump up your feedback, go out to a car boot sale or charity shop and buy a load of cd albums, spend a few hours listing them on ebay (you can use the barcodes so need for pics) and boost your feedback this way.

Which is what a lot of scammers do.

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Which is what a lot of scammers do.

possibly, but once you start getting some feedback for coin sales, it will not matter a great deal - it is a chicken and egg situ - you have to get feedback one way or another

it really doesn't matter from the pov of the buyer anyway - if they pay with paypal for goods under £500 its protected.

it strikes me that there is a lot of negativity on here regarding selling on ebay, like i say i have been selling silver on ebay for the last 5 years, there is no better way for premium coin sales esp. perth mint, royal mint etc/

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You have a basic choice,sell to a dealer under spot or on ebay for a quite a bit over spot.

If you are paranoid about getting scammed don't use ebay as a coin dealer will happily scam you by purchasing your metal under spot.

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  • 312 Brexit, House prices and Summer 2020

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      • down 5% +
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      • up 5%



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