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TheSilverMustFlow

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  1. Thanks
    TheSilverMustFlow reacted to Pete in Two small questions about selling silver   
    Selling single coins is easy by providing a clear photograph of both faces.
    If you see spots or scratches then just simply state, regular bullion with a few marks, spots, fine scratches as shown in the pictures.
    If there is a particular noticeable defect like a chip or deeper scratch then you could describe the coin as having e.g. a 3 mm scratch on the Queen's cheek etc.
    No-one ever lists every defect because it would scare away all buyers and for sure someone will find under the magnifier a spot that you omitted.
    If you don't see any obvious defects then you are generally quite safe in describing the coin as in new condition etc but always refer to regular bullion.
    Selling a tube you can always state you are selling a mint tube of bullion and coins may contain common rub marks and milk spots as received from the mint.
    Personally I would quickly check each coin to see if any are particularly poor i.e. stand out as such.
    This does not entail scanning every millimetre with a magnifier.
    Just a cursory look in good light and at different angles will show up anything really noticeable.
    If a couple show milk spots say 2mm diameter then maybe show a separate photo of the bad one(s).
    On this site I would lay the coins out in a matrix and photograph front and back.
    Modern cameras even on phones give a good resolution and when zoomed tend to suffice.
    On eBay I wouldn't bother.
    Having said that I did once sell a new mint sealed full tube of American Eagles that were rejected because they showed a slightly unusual background sheen.
    Absolutely perfect mint fresh uncirculated coins, but to an inexperienced buyer, so on eBay the buyer wins every time usually so I had to refund the buyer.
    Fortunately on this site most members are very fair and reasonable and those with experience will work with you.
     
  2. Thanks
    TheSilverMustFlow reacted to Centauri167 in Two small questions about selling silver   
    You are very welcome.
     
    Good luck !
  3. Thanks
    TheSilverMustFlow got a reaction from Centauri167 in Two small questions about selling silver   
    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! 
  4. Thanks
    TheSilverMustFlow reacted to Pete in Two small questions about selling silver   
    Welcome to the silver addicts club !!
    Answer to Q1
    Sold prices on eBay are a good barometer for market prices and there is little merit in looking too far back in time.
    Ignore any 'Buy It Now' prices with no bids etc as these are "chancers" and generally bear no relationship to the market.
    Only look at the completed sales and the price paid has to include shipping costs.
    The price is the price and a buyer factors this into the equation so $100 + $20 = $120 which is the same as $120 with free shipping.

    If selling to any dealer you will struggle to get spot price meaning scrap value of the metal.
    Spot price changes literally every second except at weekends so one day you may suddenly see a big difference in price - both up and down.
    Forget what prices dealers sell for as a private seller is not always likely to get the same.
    Answer to Q2
    Bullion coins are only guaranteed for weight and purity and not cosmetic appearance.
    Some Mints issue better quality than others but often there is a higher premium to these coins which tend to be shipped from the Mints in capsules.
    Sealed mint tubes mean ABSOLUTELY NOTHING in terms of coin quality.
    All this means is they haven't been handled by others but many will show scuffs, scratches and milk spots if that particular mint is renowned for producing c.r.a.p. bullion.
    When selling you do not need to worry about offering any discounts as on eBay for example the bidding will address this.
    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. If a particular coin is in bad shape the picture will show this and leave it to the buyer to make a decision.
    Whether you can make a profit depends mainly on the spot price of the metal.
    If you buy from a dealer when spot is trending near its highs then you will find it very difficult to sell and make a profit, and often impossible if spot has fallen by say 5% or more.
    If however spot jumps up 5 or 10% and you bought at a good price then sure, selling individually can make a nice profit but factor in all your costs and fees.
    Many fellow stackers buy and hold then sell some inventory perhaps a few years later when prices have changed.
    In these instances prices have moved by 25% or more and any bulk discount you obtained is also profit selling individually.
    Keeping records is very important to show true cost of purchase and net sale after all deductions.
  5. Thanks
    TheSilverMustFlow reacted to Centauri167 in Two small questions about selling silver   
    I think on your question: "Forget what prices dealers sell for as a private seller is not always likely to get the same."
    My opinion is that Pete means that a private seller will/ should always ask less than a dealer. What is normal if you ask me. ( @Pete, if I am wrong, please excuse me )
     
    About your other question. If you sell coins with problems ( milkspots, scratches, ... ) you should always mention it clear in the description. When a potential buyer than asks for more info you can show him a photo. If the buyer knows enough because of the description, you were correct and did it right.
     
    Your reputation will be everything when you start dealing pm's, so always be correct or this adventure will not last long.
     
    Good luck !
  6. Like
    TheSilverMustFlow got a reaction from stefffana in 1976 Montreal OIympics Sterling Silver Coins complete set - are they worth it?   
    UPDATE: I've bought the set! Ended up getting the guy to lower the price to about 0.25$ over spot, so I'm quite happy with the price and very happy with the set itself, it's gorgeous and in great condition. It also makes a nice change from buying the same tubes of generic rounds over and over again, while costing roughly the same as said rounds.
     
    So thank you all very much for your input! Reading your advice and opinions really helped me weigh all the pros and cons and make an informed decision, so I greatly appreciate it.
     
    Take care!
  7. Thanks
    TheSilverMustFlow reacted to daca in 1/10 oz Platinum Kookaburra 2021   
    1/10 oz Platinum Kookaburra
    First time in platinum for the iconic Kookaburra series. Limited mintage of 15,000 coins
     
    EU
    https://goldsilver.be/en/home/4049-perth-mint-110-oz-platinum-kookaburra-2021-bu-15.html
    US
    https://monumentmetals.com/2021-australia-1-10-oz-platinum-kookaburra-bu.html
    Asia
    https://www.lpm.hk/en/2021-1-10-oz-australia-kookaburra-9995-platinum-bu-coin.html
     
  8. Like
    TheSilverMustFlow got a reaction from stefffana in 1976 Montreal OIympics Sterling Silver Coins complete set - are they worth it?   
    Thank you Stefan!
    Glad you approve, it's reassuring to hear that you think I made a good purchase. And I agree, purity doesn't matter - as you say, silver is silver. Pure, sterling, junk, it's all fine by me. I hope you're right that the value will increase over time - I have little doubt that the price of silver will keep going up, but it would be nice if, on top of that, such a beautiful set eventually became more prized by collectors. I feel it is undervalued at the moment. 
    Also, I'd completely forgotten that the Montreal Olympics were when Nadia Comaneci obtained her historic 10.0, that makes the set even more fun to own.
    Thanks again.
     
     
  9. Like
    TheSilverMustFlow reacted to stefffana in 1976 Montreal OIympics Sterling Silver Coins complete set - are they worth it?   
    I am really happy for you, my friend! Any gram of precious metal added to your stack is a step forward. I know these coins, are gorgeous and very well made. Doesn't matter if are only .925. Silver is silver. There are a lot of silver coins .100, .300, .500, .800, .850, .900. and are selling quick.  A lot of gold coins are only .900 or .916 and are well loved. It is not necessary to be "pure".
    Over all, you are the happy owner of a beautiful complete set of untouched coins (with face value and year of issue, not generic rounds), made especially for an special event.
    Don't forget what happened at 1976 Montreal Olympics: it was the first 10.00 offered for an gymnastics competition in history. In that year Nadia Comaneci from Romania was awarded with the first 10.00. Even Longines electronic displays wasn't prepared you this, showing 1.00.😊 see the picture attached😊
    Congratulation! It is a very nice set and I am sure, when the time to sell will come, its value will be higher.
    Cheers!
    Stefan.

  10. Like
    TheSilverMustFlow got a reaction from RacerCool in 1976 Montreal OIympics Sterling Silver Coins complete set - are they worth it?   
    Thanks for your input, this is helpful!
  11. Like
    TheSilverMustFlow reacted to dicker in 1976 Montreal OIympics Sterling Silver Coins complete set - are they worth it?   
    Hi - out of interest are these 999 or 925?
    Lots of the commemorative issues are 925 - I haven't see the Montral Olympics ones however.
    Best
    Dicker
  12. Like
    TheSilverMustFlow reacted to TommyTwoShots in 1976 Montreal OIympics Sterling Silver Coins complete set - are they worth it?   
    I would snap these up, great price. A collector might pay a premium and the melt value is always there.
  13. Like
    TheSilverMustFlow reacted to Pete in 1976 Montreal OIympics Sterling Silver Coins complete set - are they worth it?   
    I had this set and ended up selling at a great loss.
    The reason for selling was that several coins were showing milk spots and creeping stains and I also noticed that the capsules were glued shut.
    They were all 925 silver and looked great but through lack of market interest they were only worth scrap value or even less.
    At the time of issue they would have been priced much higher but like so many similar sets just lost their appeal in time.
    If you like the set and it is priced near spot then pursue your dream but from an investment / value point of view I would avoid if that's what is more important.
     
  14. Like
    TheSilverMustFlow reacted to Shinus73 in 1976 Montreal OIympics Sterling Silver Coins complete set - are they worth it?   
    These are perfect for stacking, assuming you can get them as cheaply as anything else. They have no collectibility value.
  15. Like
    TheSilverMustFlow reacted to StackemHigh in 1976 Montreal OIympics Sterling Silver Coins complete set - are they worth it?   
    Plenty of individual coins out there most of the time. I wouldn't think collectors want them any more unless there is a special conectionto them. Spot price for sterling i'm thinking.
  16. Like
    TheSilverMustFlow reacted to Antwerpstacker in 1976 Montreal OIympics Sterling Silver Coins complete set - are they worth it?   
    I would offer him spot for it, in a take it or leave it deal
  17. Like
    TheSilverMustFlow reacted to RacerCool in 1976 Montreal OIympics Sterling Silver Coins complete set - are they worth it?   
    I'd take them at $1 over spot! They'd be a good addition to the stack. 
  18. Like
    TheSilverMustFlow reacted to SilverTalent in 1976 Montreal OIympics Sterling Silver Coins complete set - are they worth it?   
    These coins are great and come from the Canadian mint which is reputable 
    I don’t understand all the negativity about this coins.  They are proof coins 
    which make them have a premium over Bullion 
    I know these coins I have a set and they are Attractive 
    and could be a collectors item eventually .
    in the meantime they are a good investment provided you don’t pay to much over spot 925 price 
    Sincerely SilverTalent 
  19. Thanks
    TheSilverMustFlow reacted to SilverTalent in 1976 Montreal OIympics Sterling Silver Coins complete set - are they worth it?   
    Yeah just -  7.5 %  925 silver is more durable as well .
    id buy the set if I had a chance . You have over a kilo of Sterling 925 silver can’t be bad  
     
  20. Like
    TheSilverMustFlow got a reaction from TommyTwoShots in 1976 Montreal OIympics Sterling Silver Coins complete set - are they worth it?   
    Good to know, thanks for the recommendation!
  21. Like
    TheSilverMustFlow got a reaction from stefffana in 1976 Montreal OIympics Sterling Silver Coins complete set - are they worth it?   
    Those are some very good points, thank you! I agree it's a beautiful set, didn't know they were proofs though, that's even better. 
    Also, you mentionned "spot 925 price" - is that a different thing from regular spot price, or does that just mean I should factor in the 7.5% of the coins' weight that isn't silver? Just wondering, I'm fairly new to this.
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