Selling some silver

nealeffendi · March 20, 2014, 07:44:23 PM

Hi,I need to offload some of my silver coins (bullion grade circulated .925 and .500).
I have over 1,000 ounces (actual silver content), mostly Australian pre decimal, plus NZ and Britain.
I'm in the Sydney area if anyone's interested.

trout · March 20, 2014, 07:53:36 PM

Quote from: 'nealeffendi' pid='44306' dateline='1395306863'Hi,I need to offload some of my silver coins (bullion grade circulated .925 and .500).
I have over 1,000 ounces (actual silver content), mostly Australian pre decimal, plus NZ and Britain.
I'm in the Sydney area if anyone's interested.

The Silver price has shed 10% over the last week.
It is at $20.36 as of now.
Why not consign the lot to the Perth mint , They are buyers of scrap silver coins :ok:
If I had 1,000 oz. of silver I would most defiantly not be selling now unless you bought it for less than todays price .
The price may drop over the next few weeks but I recon $18 US will be the lowest it will go.

nealeffendi · March 20, 2014, 08:02:30 PM

Quote from: 'trout' pid='44307' dateline='1395307416'
Quote from: 'nealeffendi' pid='44306' dateline='1395306863'Hi,I need to offload some of my silver coins (bullion grade circulated .925 and .500).
I have over 1,000 ounces (actual silver content), mostly Australian pre decimal, plus NZ and Britain.
I'm in the Sydney area if anyone's interested.

The Silver price has shed 10% over the last week.
It is at $20.36 as of now.
Why not consign the lot to the Perth mint , They are buyers of scrap silver coins :ok:
If I had 1,000 oz. of silver I would most defiantly not be selling now unless you bought it for less than todays price .
The price may drop over the next few weeks but I recon $18 US will be the lowest it will go.

What price does Perth Mint pay under spot? (percentage under spot?) Also I'd rather sell to a collector/stacker as I hate the thought of the coins been melted.
Unfortunately I need to sell as my son needs to pay a bill urgently.

trout · March 20, 2014, 08:18:23 PM

QuoteWhat price does Perth Mint pay under spot? (percentage under spot?) Also I'd rather sell to a collector/stacker as I hate the thought of the coins been melted.
Unfortunately I need to sell as my son needs to pay a bill urgently.

The Perth mint is currently only paying $18.29 per fine oz. for unaccredited silver coins.
As they have to refine the silver and there are costs involved in doing that , I imagine that this is a more realistic price than shown on many silver coin value sites and is the price I use to gauge the value of bullion buys.
You could list them on theifbay in 500g and kilo lots and you should get better than melt for them but that takes time and 1,000 oz. is a lot to dump on the market in one hit.
Spread it over 3-4 weeks and you will do better than selling to the Mint.
It will however all depend on the spot price when you sell.

On a personal level, NONE of my 3 Son's would want to, or let me sell my stash to pay a bill they are liable for and would deal with the matter themselves like the Grown Men they are :ok:

nealeffendi · March 20, 2014, 08:32:16 PM

I found a place in Melbourne that buys .925 at $601 and .500 at $325/kilo. That is almost $20. Looks like my son will be driving to Melbourne next week. (23 years old and I still get to pay for his dentist:icon_cry:)

robbiegal · March 20, 2014, 08:45:25 PM

we do the same for our grown up boys too!
good luck with the sale

careful with the paying prices as they can go up and down like yoyos - in under a day!

jozk123 · March 21, 2014, 10:51:52 AM

Where abouts in Sydney I might have a friend how would be interested in a few kilos??
PM me with details

nealeffendi · March 21, 2014, 04:11:17 PM

Quote from: 'robbiegal' pid='44314' dateline='1395310525'we do the same for our grown up boys too!
good luck with the sale

careful with the paying prices as they can go up and down like yoyos - in under a day!

I'll be keeping a close eye on the fluctuations.
My son has agreed that he will buy back as many ounces as is sold (it is a loan based on his honour). So my retirement silver stack will (eventually) be made good. I'm not selling my clips, slabs, overdates, Perth dots etc and maybe the stuff he buys to replace it with might contain some nice stuff.
He was king hit a while back and spent a few days in hospital getting his jaw wired up and had a few months where he couldn't work (he is a bouncer). Now he has major orthodontic work to get everything in perfect alignment (that alone is nearly $15,000). Plus his car expenses, plus....
Kids make us happy (and poor).

Robster · March 21, 2014, 04:28:00 PM

He is very fortunate to have parents to support him during this time.! Congratulations, I am sure he is most appreciative.!! :good:

Fulvio · March 21, 2014, 05:46:17 PM

Quote from: 'Robster' pid='44380' dateline='1395381480'He is very fortunate to have parents to support him during this time.! Congratulations, I am sure he is most appreciative.!! :good:

Yeah, and its a worthy cause...

robbiegal · March 21, 2014, 11:28:19 PM

Quote from: 'nealeffendi' pid='44377' dateline='1395380477'
Quote from: 'robbiegal' pid='44314' dateline='1395310525'we do the same for our grown up boys too!
good luck with the sale

careful with the paying prices as they can go up and down like yoyos - in under a day!

I'll be keeping a close eye on the fluctuations.
My son has agreed that he will buy back as many ounces as is sold (it is a loan based on his honour). So my retirement silver stack will (eventually) be made good. I'm not selling my clips, slabs, overdates, Perth dots etc and maybe the stuff he buys to replace it with might contain some nice stuff.
He was king hit a while back and spent a few days in hospital getting his jaw wired up and had a few months where he couldn't work (he is a bouncer). Now he has major orthodontic work to get everything in perfect alignment (that alone is nearly $15,000). Plus his car expenses, plus....
Kids make us happy (and poor).

victims of crime can help
call ém
if you haven't
http://www.victimsservices.lawlink.nsw.gov.au/vss/vs_index.html

Goldseeker · March 22, 2014, 08:48:01 PM

If they got the bloke that king hit him and that bloke was subsequently charged, then your son has a case for crime compensation from the Government.

trout · March 22, 2014, 08:54:08 PM

Quote from: 'Goldseeker' pid='44535' dateline='1395483481'If they got the bloke that king hit him and that bloke was subsequently charged, then your son has a case for crime compensation from the Government.

I would also think that his employer would have insurance for this event and your Son should be entitled to Workers compensation and full medical coverage for this incident.

Goldseeker · March 22, 2014, 08:58:55 PM

Workers comp only payable IF the victim was on paid employment at the time of the incident.

Regardless, if the assalent is known, one could also claim personal damages.

Now to get back on the subject, I had a forum member ring me to see if I was interested in buying some of the silver. Unfortunately with just buying another house and buying 66 50c pieces, I had to decline the offer.

If I wasn't buying the house, I could have possibly been interested if "she who thinks she is being obeyed" allowed me to do so.

trout · March 22, 2014, 09:40:42 PM

QuoteIf I wasn't buying the house, I could have possibly been interested if "she who thinks she is being obeyed" allowed me to do so.
QuoteIn reality "She who must be obeyed" is probably the most conservative thinker in the family.
Most of us Blokes NEVER grow up, we just buy more expensive toys.
Without the checks and balances imposed on us by "She who must be obeyed" I recon we would all be living in the gutter.
I plead and argue with my missus all the time about my schemes , but at the end of the day we all have to agree that the female of the species is far smarter than us Blokes because they are Bloody good at keeping the family above water :yahoo: