Selling Silver.

  • Selling Silver.

    Posted by MartHale7 on September 19, 2022 at 2:01 pm

    I have been trying to find places online that tell you the price they will give you per ounce of silver.

    I found JM bullion and I liked that their form shows you the price they are willing to pay.

    Ebay seems to be a better price you would get, but then there is the risk of both the shipping, and the risk the buyer may say your silver is fake or mess you over in some way…

    I asked myself this question, when would I sell my silver?

    The answer to me is when it goes up so high that it would be wiser to sell and diversify into other metals……

    Where do you sell your silver?

    MartHale7 replied 1 year, 7 months ago 14 Members · 26 Replies
  • 26 Replies
  • BiggKidd

    Member
    September 19, 2022 at 2:28 pm

    I think your last question is a personal answer for each individual. I bought my silver when it was $11 an ounce. So obviously I could have sold it for double or more a few different times, yet I chose not to. That may be because I own my silver for a different reason than some or even most others. I never looked at it as a way to make money. I look at it as a way to insure I have a type of currency that will be universally recognized if the economic system crashes. Just like I grow & raise food to be sure we have food. I think of it ALL as insurance just like you pay for each month for your vehicle. You sure as hell want it but you also pray hard you never need it! I never look at any prep as dollars just as insurance.

    • This reply was modified 1 year, 8 months ago by  BiggKidd.
    • Garden-of-Grace-Homestead

      Member
      September 19, 2022 at 2:44 pm

      We feel the same way about our silver/gold. Currency for hard times.

    • MartHale7

      Member
      September 19, 2022 at 2:55 pm

      Yeah, that is why I have food on the shelf, propane in the shed, insurance.

      I was looking ahead and thinking in time of crisis the online selling may not be an option. Silver trade is online in Valenzuela but they don’t have many goods to trade.

    • ragman

      Member
      September 28, 2022 at 2:49 pm

      Exactly right! Insurance now and hopefully a nice inheritance for my grand kids.

    • Stitchinglady

      Member
      October 6, 2022 at 5:22 pm

      We feel the same way about keeping metals.

  • BiggKidd

    Member
    September 19, 2022 at 3:59 pm

    In time of crisis I would “think” you would want it on hand to pay a Dr. to set a broken bone or treat a bad tooth. Anything you personally can’t prep for but could be needed. A service or item you HAVE to have.

  • SpagsUnfiltered

    Member
    September 19, 2022 at 7:37 pm

    I have had amazing luck with Provident Precious Metals online.

    Avoid eBay. You will lose money due to fees. I stopped using e as almost 10 years ago for selling or buying PM’s.

    • Sandra

      Member
      September 19, 2022 at 9:50 pm

      I agree never ever buy silver on eBay, to many fakes are out there, use reliable well-known companies when buying precious metals. Always, Do your homework, with how you use your money

    • Happinest_Homestead

      Member
      October 3, 2022 at 10:19 pm

      Is that for selling or buying?

  • MartHale7

    Member
    September 19, 2022 at 8:24 pm

    FYI,

    I have been watching the link that Pinball suggests for comparing silver prices.

    I found it much better to have direct links to the sites on the chart as I found the prices on the chart did not keep pace with what the web sites prices were.

    Pinball’s site he mentioned.

    https://comparesilverprices.com

    Myself, I have good dealings with Apmex, and JM bullion, and a place called the money changer.

    I do admit it was a bit scary getting the silver delivered as there have been reports of packages going missing. I am thinking perhaps it might be better to have it delivered to the local Fedex or UPS office for pickup, that would take the driver out of the equation for something to go wrong, and the issue would be between the shipper and the seller of the metal.


    I have bought good in a local prepper meeting with junk silver, but I imagine that cash will still be good if nothing else for vending machines until they catch up with that …

    As for long term investment it was hard to beat land, they are not making any more of it, it sure has out preformed my silver investment.

    Thank you all for your input and places you like to trade with.

    • Stitchinglady

      Member
      October 6, 2022 at 5:24 pm

      My son says “Mom, God’s not making any more land so we’re holding onto what we have. 3 of our farms are paid for, for which we’re very grateful!!

      • MartHale7

        Member
        October 6, 2022 at 7:00 pm

        Yeah, much depends on the goals you want to accomplish where your investments will be.

        I have 1 acre paid for minus the government rent ( taxes )…

        <font color=”rgba(0, 0, 0, 0)” face=”inherit”>I remember growing up when we paid off the farm we decided to celebrate!… We went out to </font>McDonnell’s 😉 That was big stuff to us back then.

        Land is a good investment, unless they change the tax laws so that it is not…


        Biden has put inheritance tax on farms so many are selling off the farms to pay the taxes.

  • swithers

    Member
    September 20, 2022 at 12:27 pm

    Remember that when you purchase precious metals, you pay a premium (per coin or bar). For example, this morning as I am writing this reply, silver spot is $19.52, but the price of most of the silver rounds is $25,51 (www.APMEX.com). Depending on the design on the coin they could cost more, and if you purchase a large quantity you could get better prices. Bottom line, frequent buy/sell or barter can cost you money (the premium charged). You don’t get that premium back because when these place purchase your metals back, they pay you spot or some numismatic value (if it has any).

    I look at precious metals in two ways. 1) I am a coin collector. There are certain series that I just like to collect. 2) as a way to preserve some wealth. I would sell or barter if I had to, but I wouldn’t like.

  • jeannie34

    Member
    September 22, 2022 at 8:52 pm
    • MartHale7

      Member
      September 23, 2022 at 12:31 am

      Yes “FedNow” they are testing it and is reported to be online next July.

      So the food shortages should hit next year with the lack of fertilizer, and our fuel reserves gone, force everyone to buy food with “FedNow” cards. Sure looks like a possibility.

      I keep as little cash on hand as I can, and instead have food, precious metals, and garden tools.

  • 3ADscout

    Member
    September 29, 2022 at 2:45 am

    I sell to a friend that owns a jewelry store. I normally don’t sell but when it get high I occasionally sell a few shekels to buy something for the homestead. Frankly I think manufactured goods will have a better value that gold or silver when things go south. Not that good and silver won’t be useful but I don’t think it will be as in demand as some think it will be.

    • MartHale7

      Member
      September 29, 2022 at 12:12 pm

      Yep, so far land has given me a much better return than silver has, Food also has been a better return. Some of the oil I bought ahead of time has given me 100% return.

      Spreading out into multiple investments seems the way to go, and heavy on the ones you know you have to have like food.

  • JulieDogmom

    Member
    October 3, 2022 at 11:41 pm

    I hadn’t planned on selling mine anytime soon. Unfortunately, there might come a time (for me that was when the ex was out of work for 3 months) when an SHTF happens, be it personal, regional or worldwide events etc. and you don’t have a choice but to sell some or all just to survive. In my case I had to liquidate 99% of my holdings. Do I consider it a loss? No, not really. Did it do what it was intended to do? Yes, absolutely. When I had to liquidate, I went to my reputable local dealer where I had even purchased some of it. I found I got a lot better buyback price than any online retailer without the hassle of shipping, scams or large retailers lowballing. I started purchasing at around $15-$17/oz two years ago. When I had to sell, my local dealer gave me a very generous premium totaling $25/oz. Dollar cost averaging makes a difference, as does building a good relationship with your local dealer.

    • BiggKidd

      Member
      October 3, 2022 at 11:51 pm

      Good deal you are one of the few who gets it. IT being the fact that all things prepping are a form of insurance.

      • JulieDogmom

        Member
        October 3, 2022 at 11:59 pm

        Eggsackery!! I don’t want to build my treasures on earth. All of my prep’s including my g/s holdings are simply tools for life and potentially helping others. Nothing more. The balloon can go up tomorrow and there’s no guarantee I’m going to survive, even in the event that happens, at least I know I did all I could to help others who’ll need it after I’m gone. You can’t take it with you so you might as well do good with it while you’re here.

    • MartHale7

      Member
      October 4, 2022 at 12:00 am

      Thanks for that Julie,

      Having a local dealer that gives you a good price for your goods is great, glad you found someone that you can deal with.


      Thanks for sharing.

  • MartHale7

    Member
    September 19, 2022 at 8:14 pm

    Yes some states now take silver for payment of taxes. Working on a local barter system is also a good idea to help to transition before the destruction of the dollar.

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