Which ONLINE Dealer PAYS the most for silver in the USA?

[gentlemanpete]

Title says it all (in short, except for my coming rant)... except that as someone that has not sold BUT has hundreds of hours of research in to PM, have been somewhat APPALLED to only recently discovered that selling is a LOT harder... after seeing all the friendly, well known YouTubers claim how easy it is, am VERY disconcerted.

Minimums?  Especially when I will have to pay shipping?  And minimums of $1,000.00 being a common smallest, others higher, 100 or even 500 ounces!?!

And/or those same figures (many dealers don't post the tiers, most don't) .... well, the fact that prices when they do show are only for big daddy sellers, guess they offer us littluns' tuppence for our paltry putrid puny stacks...

Seriously, we only get a discount when buying in bulk, pay higher when buying small, but also get LESS when selling small, and they don;t expect a discount when they buy more from us in bulk?  MESSED UP!

And MOST want you to call or email... that takes forever and the market moves fast!  Only a few list buy back prices, but all but one? says in fine print at bottom of page or hidden, only for high tie sellers, so that's small help  (and at high price times DO they tend to always buy, AND at poorer buy back prices or mainly their average).

Almost, really no one ever talk or talked about this.  I read, forums, did searches, watched tube will my eyes bleed... all I heard was LITTLE on sellers, except easy peasy cheesy when I did.  I don;t want to name names.

None of what I found is anywhere easy or even American Consumer fair (which is a REALLY) low standard.  Please, don't flame, I KNOW they are in  business, I have been in more on than off in multiple industries for over 30 years since a kid in a family business, plus store fronts AND "mail-order" when it was still called that, and online........  I know about profits and expenses.

Have emails in to a lot of dealers, let's see what kind of responses I get...

To recap:  I can BUY what I want easily, in small amounts, but, try to sell with dealer transparency in at least "approximate" prices (ballpark) amounts less than a CHUNK, forget it!

So, rant over.  I did searches here and found little, especially recent.

Did I miss something?  Give me your experiences, buybacks prices or general relative good better best etc... USA, online.  I have nothing local, no lcs, and ebay or instagram or FB or other methods MAY not be a viable option (you know how it is at times).

 Help.

Thanks,

GP

PS  if I have been a goober and somehow missed an (up to date, or even any) PINNED thread on this particular topic, sorry, point me to it, but am stunned their is not one that I could see...

[gentlemanpete]

Should I just go eat worms?

No, I mean I'm new here, but based in the US, but I got the impression that even though this is a European based forum, a lot of US residents participated; yes, no, maybe?

Thanks,

Pete

[BSquared]

10 hours ago, gentlemanpete said:

Should I just go eat worms?

No, I mean I'm new here, but based in the US, but I got the impression that even though this is a European based forum, a lot of US residents participated; yes, no, maybe?

Thanks,

Pete

No worm eating necessary, unless it's your "thing".  BTW, a belated welcome aboard, from one new guy here to another. 

I've had limited experience selling silver, only did it once with a local jeweler (back when the Hunt Bros. were stirring things up and gives away my age, I guess).  That was relatively painless but gained me(as I remember it) about 85-90% of spot.  Problem selling silver online is, the stuff is bulky and heavy to ship !!  In general,  I'm guessing that out of Best Price,  Immediate Sale, and Fast Cash,  you only get to choose 2 of them.  I don't think you'll find 1 Online Dealer better than another, as any price they offer will take into consideration what the market is doing and what their current inventory level is.  Local Jewelers, Pawnshops may be an option.

FWIW I've sold gold online a few times and that was quite painless,  as the price was locked in after the quote, the shipping labels sent via email, and cash was in my account, 2 days after they received the coins and verified them.   Hopefully someone else can chime in and offer more options.

[ChrisSilver]

11 hours ago, gentlemanpete said:

No, I mean I'm new here, but based in the US, but I got the impression that even though this is a European based forum, a lot of US residents participated; yes, no, maybe?

It is a worldwide based forum  we have members from 91 countries so far. 25% of current traffic (over the last 30 days) is from the USA.

[ZGrizzlyWord]

I have bought and sold items here on the forum.  I highly recommend you try selling directly to others through The Silver Forum.  It's better for everyone.

[gentlemanpete]

I still eagerly await some dealer info but thanks to those that have replied so far.  If anything I would sell on a forum, or Reddit is active (is that a bad thing to mention the "competition" here?)... but it is a) more pe\\iecemeal, potentially, and still potentially "dangerous", and b) didn't think anyone would hardly buy from a newbie.  I don't have the silver to sell for the hell of it and build a reputation over time which, given the current marker, I may not have anyway....

GP

[gentlemanpete]

Ok, so I guess either no one sells their silver, or only to LCS or?    I thought this would be a BASIC aspect of stacking etc...

Maybe a hot button topic...

In any case, I feel even more frustrated, read my OP; this seems to be an extension of what I said.... easy to buy, get screwed (at least a little) when you sell, BEYOND normal profts for businesses, but ONLY IF IF IF you can even sell!

 

GP

[BSquared]

Sorry GP, but IMHO it's difficult for anyone to give more specific suggestions, as you've never told us what you're trying to sell.  What kind of silver- coins(bullion or collectible), bars, rounds, and how large your stack is and what your expectations were before you jumped in the water. 

Possibly then someone could offer better suggestions than you've been given.  

[DarkChameleon]

I lived in the north east and id say if there are no lcsnear you then go to then, maybe one near a vacation spot, you can sell in bulk on fleabay or here, on fleabay youll often get 100% and more of spot but then take into account 3% fees from ebay and paypal to convert to your account, you can try private sales but 8f its just bulk silver then id say vacay sell if you drive there or to see family or ebay or here, there are buyers on here will buy bulk...my lcsis presently paying $1 over for generic...he sells for $3 over , expect maybe $4 overfor eagles, nothing more, for silver items you get 80% spot,same for gold....which is high, most pay 70 to 75% ... if you have collector value then try here...you can place collections together and sell as one like queens beast collection...if you have an online sales record even with another site you can prove is you...like sending a question on ebay..they should feel safer selling....you might find someone close to you willing to private deal then meet in a police stationn and trade...we sell and buy generics here as well as slabbed and gradded stuff, think where you bought as a good place to where to sell, if you cane by them easy it should work the same in reverse.

[DarkChameleon]

Another option is you can always ask your investment or pension company if they accept silverinto your retirement fund, some irasdo, thiswill give you 100%spot i believe, that could be an option but you are then posting directly to uncle sam what you got.

[gentlemanpete]

I don't get that response.... what I have to sell makes little difference because for one, I have a variety, for 2, I'll sell each type to whatever place pays the most if this is possible (re minimums etc) and 3, what I have will change through the future...

SD bull, JM bull, Proident, Monument Metals, MMExchange, BGASC, Hero,  Apmex, ya'll heard of these... and many more, and smaller bullion places online and online coin dealers... THAT'S what / who I meant.

Most are SO non transparent, HENCE MY QUERY HERE...

[Lr103]

I have sold to APMEX, JMBullion, and Provident (the last two are now the same company). I’ve tried to get bids from SD, but have given up since they were never the highest in my experience   

It really does depend what you’re selling. Generally I’ve found that I get the best prices if I look on the various sites and get.bids on items that are out of stock. I always call to get bids, and yes, very often there are egregious hold times on days when there’s a big move in the markets☹️

Almost everything I’ve sold has been Queen’s Beasts bullion, so my experience is limited to these coins.  My strategy was to purchase when premiums are low at new issue, and sell when the premiums were higher. This worked out well, because even if no premiums were to develope, the newest issues always are available at lower premiums than basic ASEs. 

These dealers pay premiums, but nowhere near what they sell them for on their sites. The main benefit of selling to the dealers in my opinion is that you can move larger quantities of bullion quickly and with very limited risk.  You also don’t need to photograph items, and write descriptions.  You pay for these benefits with lower purchase prices than you’ll get selling on the forum, or on eBay.  It’s not economical at all to sell lower dollar amounts to the dealers, given that you need to pay for shipping and insurance.

To get the best prices, and with lower quantities, I think selling on the forum is the best option. There is no 10% fee to eBay, and if you put a coin up for sale at a lower price than dealers sell it, it usually goes quickly. 

 Good luck with your sales! 🙂

[gentlemanpete]

Thanks to most who have replied, but this thread is an utter disappointment... does no one use online dealers?  Probably half or more of our country does not have a (reputable)_ lcs... silver is moving, no one is emailing me, and I'm beginning to think ALL youtubers are "pumpers"...

gp

[DarkChameleon]

7 hours ago, gentlemanpete said:

Thanks to most who have replied, but this thread is an utter disappointment... does no one use online dealers?  Probably half or more of our country does not have a (reputable)_ lcs... silver is moving, no one is emailing me, and I'm beginning to think ALL youtubers are "pumpers"...

gp

Online will cut you to pieces, offering 70 tp 80 of spot, better to travel to a lcs that sees thevalue of yok ur stuff andwill buy back eagles in less then uncirc for $1 back of spot and generics $2 back...they are much better then online and usually cash purchase not check days after they arrive attheirs...lcs are best for quick sales.

[BSquared]

8 hours ago, gentlemanpete said:

Thanks to most who have replied, but this thread is an utter disappointment... does no one use online dealers?  Probably half or more of our country does not have a (reputable)_ lcs... silver is moving, no one is emailing me, and I'm beginning to think ALL youtubers are "pumpers"...

gp

Yes, you've been told by a number of folks here that they work with online dealers.(success will depend on many factors as explained).  As far as youtubers go,  you're catching on.  No details as to what you're trying to move IMHO makes it impossible to help you further.  Good luck

[gentlemanpete]

Thanks to most who have replied, but this thread is an utter disappointment... does no one use online dealers?  Probably half or more of our country does not have a (reputable)_ lcs... silver is moving, no one is emailing me, and I'm beginning to think ALL youtubers are "pumpers"...

gp

 

NO, I haven't been told... almost no data to go by 1 or 2 is nothing to go by, and people don;t have lcs and most of them are scammers, I call and they don't even want to talk to you (they are hours away)...

Money Metals Exchange and others list even well over spot, NOT 30% under... how about you actually READ what people write...

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if this is the biggest pm forum or best on the planet, where iS everyone...

[ChrisSilver]

@gentlemanpete, I’m not sure what the issue is.

If you would like more replies, it would be better to be polite to members and the forum otherwise no one would be inclined to reply or help you. 

@Lr103 has given some very useful information. Have you contacted those dealers and asked what price they can give you for your items?

Your options are to either sell yourself online; eBay, or on the TSF trade section for example, you would likely get a higher price but would take time to sell and require some work listing items and posting multiple packages etc.

Or you sell to a dealer for a lower price, there are many dealers available in the Dealer Directory on TSF (though you would need to do your own due diligence on these companies) You can contact them and ask what price they can give you for your items.

There isn’t one dealer that pays more than all the others on every product. And dealers prices also likely fluctuate based on the items that they currently need in stock.

The precious metals industry operates on extremely tight margins. The reason you get a lower price when you sell to a dealer than if you sell it yourself is because then they are doing all of the work. Out of that margin they need to pay staff costs, utility costs, warehouse and office costs, website costs, and many other associated costs etc etc and they are also a business so need to make some profit otherwise there would be no benefit of them being in business.

I would advise you to make a list of the top dealers in the USA, and then contact 5 or so of them to find their prices and then sell to that dealer, or you may find splitting up what you sell and selling different items to different dealers works out better for you. Or if you have the time you can list on the forum or on eBay or elsewhere  

Good luck with your sales  

[5huggy]

8 hours ago, gentlemanpete said:

if this is the biggest pm forum or best on the planet, where iS everyone...

Right here! watching and trying to decide what (exactly) the problem is! 😉👍

[DarkChameleon]

With the price of silver rising so fast y9ure making money or at least cover8ng your losses from online buyers even ebay, your up almost 10% in 2 days...fleabay and paypal take a combined 13% usually so the last two days covered your cost almost...a lcs is wirth a drive to even if its three hours away to stay the night after you sell, have a night away on your prifit 8n a decent none covid hotel...lol...selling on here is available, it might take longer as you need some feedback or at least a way to contact so thet dont feel theyre getting scammed....the quickest way to get paid is the best lcs dravable from you and a three hour drive is nothing over here, ive driven that far for lunch before, east to west coast florida, its a day out driving...and the north is littered with lcs and a tique stores that might buy your silver too, it seems everyone likes silver and gold especially with the media hype building up again like the last bull run.... people know people who buy silver, in my local lcs right now the ship buys over spot and peolle are paying upto $10 over spot...if you want aedvuce call around coin shopsand jewelers around you and i recommend affluent areas if you have to drive to them, they will take the lot, my lcs will but 10,000 oz of silver in one go, iknok w, ive been there when hes done it before, has had kilos of gold in the cabinet, unless your high in the adarondecks then youre close to some dealers.

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4 hours ago, 5huggy said:

Right here! watching and trying to decide what (exactly) the problem is! 😉👍

Someone having problems selling gold or silver....i have problems telling people no.