I'm not selling at the moment but I do wonder where, if one needed to, would be the best place to liquidate precious metals.
I live in a small town without a coin shop so my only local option would be the local antique shop that has a small amount of PMs for sale. This is not a real option though, if I needed to sell more than a couple pieces, and I don't even know how much they'd pay, but I'm sure it's well under spot.
From what I understand most coin shops pay spot minus 10%-%30, depending on the shop and probably your relationship with the person behind the counter.
Ebay is not an option either, except for pieces with a high resale value, as they charge seller fees around 13%.
I know some online precious metal retailers buy back silver and gold but have never looked into this option...until this morning.
I was browsing https://bullionexchanges.com/ and decided to click the "sell to us" button and see if I could find and pricing info. I've clicked this on other sites in the past and only got a brief explanation about how they buy metals and to give them a call for a quote. But today when I clicked that button I got a list of what they buy and how much they pay.
Amazing! They pay over spot for some of the 2024 sovereign coins. Also just a hair below spot for other years, so if you got a monster box of Canadian maples in 2018 when spot price was in the mid teens then you'd make a tidy profit selling it now.
Scrolling further down the list you can see how much they pay for generic in various sizes.
Thankfully, I have not had to sell to get cash, but if I did I would not feel too bad getting just $0.75 less per ounce than current spot price. Of course losing that value sucks but if you're in a pinch and need cash it does not seem too bad. There are four pages of 25 items per page, so they are buying lots of stuff.
Have you sold chunks of your stack in the past and if so where did you sell it? Are there other ways to liquidate that I have not mentioned?
OK, that's enough talk about selling the stack, it's making me nervous just thinking about it 😬
