TheSilverMustFlow

Thank you for such a detailed explanation Pete, that clarifies everything I wasn't sure about. Very much appreciated, now I can't wait to try my hand at selling silver. Thanks again and have a good one!

Thanks for such a detailed answer, now I understand and I know what to do. Much appreciated.

Thanks very much for your advice, Centauri, this is extremely helpful. I suspect you're right that that's what Peter was saying about pricing, that makes sense. I also fully agree with what you said about reputation, it's why I started this thread because it's really important to me to start out right, I don't want to accidentally do anything that might be considered shady or dishonest - both for the sake of my reputation and also because that's just not how I roll. Can I just ask one more thing? You said I should always mention in the description if a coin has a problem - when you say "problem", do you mean literally any small scratch or blemish, or just more serious problems like dents or deep scratches? Thanks again!

Many, many thanks for this Pete, you went above and beyond what I asked, lots of great info that I wasn't aware of before. I'll be reading this over this several times to help me determine how to proceed forward. For this purpose I was wondering if you could clarify two points in your post, if you have the time. You wrote: "Forget what prices dealers sell for as a private seller is not always likely to get the same." Do you mean that I will typically get less when selling a coin than a dealer would get for the same coin? You also wrote: "You should however always show clear photographs or if selling a bulk lot perhaps avoid stating condition other than regular bullion meaning subject to small imperfections, spots etc." So if I understand this correctly, if I sell a bulk order I should state the condition as being "regular bullion"? But I don't need to state the condition when selling individual coins, because there will be a clear photo of that specific coin? In that case, what if I make an ad for selling a coin, but mention that I have 20 or so of that coin available - do I need to show pictures of all 20 coins, since it's not really a bulk lot because I'm selling the coins separately? I hope I was able to communicate clearly what I meant. Thanks for bearing with me, thanks again for your terrific reply, and thanks for welcoming me to the club!

Hello all, I recently started buying mint-sealed tubes of silver coins and selling the coins individually for a small profit, and I had 2 small questions: 1. I keep hearing that the best way to know a coin's true value is to look at the "sold auctions" on eBay. I was wondering if this advice refers only to the amount paid for the coin itself, or does it also include the shipping fees? For example, if a coin sold on eBay for 100$ + 20$ for shipping, should I be trying to sell that same coin for 100$ or 120$ ? 2. When buying sealed mint tubes of silver coins, some of the coins inside will inevitably have damage and/or milk spots. First off, is this considered acceptable or should I try returning the coins? And if I keep the coins, do I need to notify potential sellers that a certain coin has a small nick, scratch or some milk spots? If so, am I expected to sell it at a discount? I think we can all agree it's annoying to pay for BU coins and get a damaged product, but I'm hoping that doesn't mean I have to sell those coins for no profit or even at a loss. Thank you in advance for any help, it's greatly appreciated.

I've had someone offer me a complete set of 1976 Montreal OIympics Sterling Silver Coins - all 28 coins in their original display box - for roughly 1.75$ CAD (about 1.40$ USD) above spot per troy once. Now I'm not much of a collector, more of a stacker, but that's over 30 troy ounces of pure silver at a little over spot, which I think is a pretty good deal considering current silver premiums, especially in Canada. There's also the fact that unlike bullion, these specific coins are taxable in Canada, so I'd save a lot in taxes by buying directly from this person. But I was just wondering if there's a catch - is sterling silver less desirable than other junk silver? Are the 1976 Olympics sets hard to re-sell? Is there something else I might not know about that might impact their value? Or is this a good deal? Any thoughts on this would be greatly appreciated, thanks in advance.