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honkydonkey

Selling Silver

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So this is how I see it:

ebay - high selling fees, potential to be defrauded due to paypal buyer guarantees (which they charge the seller for, nice)

gumtree - potential to be robbed

dealers - offer crap rates well, well below what they sell for due to VAT:

for example Bairds are selling a monster box today for £9696, Hatton Garden metals offer a buyback price for 500oz for £5855

Anyone else offer any alternatives? I have a monster box for sale, or divisions of if anyone interested (Philharmonics)

Edited by honkydonkey

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Gold/Silver ETF's on the exchanges are the best way to trade it, although the risk is you'll get nothing when the economy collapses.

As you know physical trade is slower, has an expensive transaction cost and can be stolen. The "benefit" is if the economy collapses then you "Might" have something people want to trade (unless everyone is starving to death then you'll wish you had brought a chicken).

So if I had the precious metal bug then I'd trade ETF's with money on the exchange because I can take profits when the market is up and put those into physical by offering slightly more than the guys on ebay/gumtree when the market is down. This way I have the benefit of fast transactions and the end of the world insurance. If the world doesn't end then after 20 years I'll open a pm shop and sell everything for those crazy prices ;)

Edited by Lifes a game

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