Silver 1oz maple leafs purchased 10 years ago

[Erolroller]

Hello. First post here as I have been a lurker for few months. 

In 2010 I purchase 175 1oz Maple Leafs as an investment at the time. I initially bought 125 at a very good price and then a further 50 later on at a higher price. All brand new and in the 25 coin holders. 

I'm thinking of selling now as I may need the money in a few months time. 

My question is to the experienced investors on here is, what price would you accept for these 175 x 2010 silver leafs? Or if possible would you hold off for longer and sell next year /year after? 

[Clockpuncher]

Hi Erolroller

what condition are they in? Still pristine or have they milked (common for maples).

its hard to say what the right strategy is as nobody has a clue about where prices will go in the long term but we have seen a very nice bull run over the last few months so certainly one of the better times time to offload in recent history.

as for pricing, bog standard maples seem to be going in the region of £25 (give or take £1) per coin at the moment and maybe a little more if you have any special versions with a privy or anniversary editions etc.

It might help you to sell a few now to build up some reputation as a seller so that if you do need to transact in future, people see that you have a successful track record which helps reassure them. Alternative you can use an escrow service like Backyard Bullion offers.

 

 

 

[MrTT]

2 hours ago, Erolroller said:

Hello. First post here as I have been a lurker for few months. 

In 2010 I purchase 175 1oz Maple Leafs as an investment at the time. I initially bought 125 at a very good price and then a further 50 later on at a higher price. All brand new and in the 25 coin holders. 

I'm thinking of selling now as I may need the money in a few months time. 

My question is to the experienced investors on here is, what price would you accept for these 175 x 2010 silver leafs? Or if possible would you hold off for longer and sell next year /year after? 

If you really need cash, sell 75 ounces and keep 100 ounces for 1-2 years.

[Erolroller]

1 hour ago, Clockpuncher said:

Hi Erolroller

what condition are they in? Still pristine or have they milked (common for maples).

its hard to say what the right strategy is as nobody has a clue about where prices will go in the long term but we have seen a very nice bull run over the last few months so certainly one of the better times time to offload in recent history.

as for pricing, bog standard maples seem to be going in the region of £25 (give or take £1) per coin at the moment and maybe a little more if you have any special versions with a privy or anniversary editions etc.

It might help you to sell a few now to build up some reputation as a seller so that if you do need to transact in future, people see that you have a successful track record which helps reassure them. Alternative you can use an escrow service like Backyard Bullion offers.

 

 

 

They are in pristine condition in the original tubes they came in. I still have the original purchase receipts when I bought them if that makes any difference. Thanks for the advice. 

[Erolroller]

17 minutes ago, MrTT said:

If you really need cash, sell 75 ounces and keep 100 ounces for 1-2 years.

Yes it may come to that. Thanks. I bought these and kinda just forgot about them until about a year ago. I remember at the time I was greatly influenced by a michael baloney book. That was 10 years ago and he hasn't come close to what he predicted back then. I had a figure in my head that I would be happy with but unfortunately I might have to cash in before/if ever that that figure arrives. 

[jackflash123]

1 hour ago, Erolroller said:

Yes it may come to that. Thanks. I bought these and kinda just forgot about them until about a year ago. I remember at the time I was greatly influenced by a michael baloney book. That was 10 years ago and he hasn't come close to what he predicted back then. I had a figure in my head that I would be happy with but unfortunately I might have to cash in before/if ever that that figure arrives. 

What was the prediction made by Baloney about the price of silver in 10 years time made 10 years ago? Just curious? If you can remember of course? Its always fascinating when people predict prices out to 10 years.

[HighlandTiger]

2 hours ago, jackflash123 said:

What was the prediction made by Baloney about the price of silver in 10 years time made 10 years ago? Just curious? If you can remember of course? Its always fascinating when people predict prices out to 10 years.

Mike Maloney/ Mike Baloney was predicting the infamous $50 an ozt 

[Erolroller]

2 hours ago, jackflash123 said:

What was the prediction made by Baloney about the price of silver in 10 years time made 10 years ago? Just curious? If you can remember of course? Its always fascinating when people predict prices out to 10 years.

He was talking about 3 figure prices and justified this by the shortage of silver needed for the tech industry, as silver was the best conductor in micro electronics. Him and Robert Kiaoski or whatever his name is, was pushing silver massively. I bought into it as I was a fan on the rich dad poor dad books.

Its still the same narrative now. Silver supply is going short, it's gona hit 3 figures, you're barman and postman is going to be boasting about how much they own blah blah blah. 

 

[jackflash123]

7 hours ago, Erolroller said:

He was talking about 3 figure prices and justified this by the shortage of silver needed for the tech industry, as silver was the best conductor in micro electronics. Him and Robert Kiaoski or whatever his name is, was pushing silver massively. I bought into it as I was a fan on the rich dad poor dad books.

Its still the same narrative now. Silver supply is going short, it's gona hit 3 figures, you're barman and postman is going to be boasting about how much they own blah blah blah. 

 

Yes it seems they know how to talk it up and create a buzz. Still I'm guessing anyone who purchased silver 10 years ago must have made a sound investment. Can you remember the spot price when you bought it? The charts show spot price was apx £13 per oz in middle of September 2010, compared with the current spot price of £21.13 at time of writing.

[Erolroller]

28 minutes ago, jackflash123 said:

Yes it seems they know how to talk it up and create a buzz. Still I'm guessing anyone who purchased silver 10 years ago must have made a sound investment. Can you remember the spot price when you bought it? The charts show spot price was apx £13 per oz in middle of September 2010, compared with the currency spot price of £21.13 at time of writing.

Not sure about spot but I paid £13.16 for 125 ozs in July 2010 then in December 2010 I bought a further 50 at £19. It was quite an increase in a few months. Back then I didn't research well enough to appreciate how volatile silver prices could be. I thought look how much this is rising and was tempted to buy more and more. Then it dropped off a cliff. 

Saying that it still was a better investment than having it in a savings account I guess. Although if it was in an account I wouldn't have the anguish of trying to sell it. 

The above prices are not including vat and delivery fees. 

[Clockpuncher]

So you've got a book cost of £3049.125 (VAT being 17.5% at the time) + lets say £40 for delivery = £3,089.13 or £17.65 per coin

Selling today at £25/coin = £1,285.87 of profit

Compound growth on your money of approx 3.5% p.a. (quick and dirty, haven't bothered to compute IRR) - not bad and definitely better than bank rates and inflation over that time

 

 

[jackflash123]

5 hours ago, Clockpuncher said:

So you've got a book cost of £3049.125 (VAT being 17.5% at the time) + lets say £40 for delivery = £3,089.13 or £17.65 per coin

Selling today at £25/coin = £1,285.87 of profit

Compound growth on your money of approx 3.5% p.a. (quick and dirty, haven't bothered to compute IRR) - not bad and definitely better than bank rates and inflation over that time

 

 

Its like Clockpuncher said, you have got your stack for a relatively good price compared with what you would pay for the same at todays prices. A nice bit of profit that would not have been possible if you put the money in the bank.

The volatility can be unpredictable but it seems to be a bull market right now, and prices are slowly climbing. As far as I'm concerned precious metals are far better than a currency that keeps deflating in value, and as more and more fiat currency is printed that value keeps diminishing, and therefore the price of gold and silver keeps rising.

The metals are rising because the paper money we use isn't backed by a gold standard, and is worth less and less over time. The purchasing power of our fiat currency gets lower and lower,  personally I would keep your silver and maybe try to convert a little of it into gold.

 

 

[Erolroller]

9 hours ago, Clockpuncher said:

So you've got a book cost of £3049.125 (VAT being 17.5% at the time) + lets say £40 for delivery = £3,089.13 or £17.65 per coin

Selling today at £25/coin = £1,285.87 of profit

Compound growth on your money of approx 3.5% p.a. (quick and dirty, haven't bothered to compute IRR) - not bad and definitely better than bank rates and inflation over that time

 

 

I know much better than any savings account for sure.

But how do I sell? 

[Clockpuncher]

Very easy - you can sell through the trade forum on here - no fees (albeit nice to consider maybe buying the silver membership for a month if you are using the facilities to give a bit back to the forum)

Read this: 

Construct a listing using this format as a guide - include some photos too!

https://www.thesilverforum.com/topic/37043-suggested-template-for-trade-listings-optional/

 

And then list them in the UK & Europe (ungraded) trade section here:

https://www.thesilverforum.com/forum/13-uk-europe-ungraded/

[Erolroller]

4 hours ago, jackflash123 said:

Its like Clockpuncher said, you have got your stack for a relatively good price compared with what you would pay for the same at todays prices. A nice bit of profit that would not have been possible if you put the money in the bank.

The volatility can be unpredictable but it seems to be a bull market right now, and prices are slowly climbing. As far as I'm concerned precious metals are far better than a currency that keeps deflating in value, and as more and more fiat currency is printed that value keeps diminishing, and therefore the price of gold and silver keeps rising.

The metals are rising because the paper money we use isn't backed by a gold standard, and is worth less and less over time. The purchasing power of our fiat currency gets lower and lower,  personally I would keep your silver and maybe try to convert a little of it into gold.

 

 

Yes very true. But what I was lead to believe in at the time and where I am now value wise is way off the mark. So much for silver going short in supply, 3 figures etc. Pure baloney. 

[HighlandTiger]

3 hours ago, Clockpuncher said:

Very easy - you can sell through the trade forum on here - no fees (albeit nice to consider maybe buying the silver membership for a month if you are using the facilities to give a bit back to the forum)

Read this: 

Construct a listing using this format as a guide - include some photos too!

https://www.thesilverforum.com/topic/37043-suggested-template-for-trade-listings-optional/

 

And then list them in the UK & Europe (ungraded) trade section here:

https://www.thesilverforum.com/forum/13-uk-europe-ungraded/

Whilst selling on this forum is a brilliant idea, you only have to look at the sales forum to see just how many items sit unsold for weeks at a time. If you want a quick sale then you are forced to drop prices. 

If the spot price starts hitting those moon craters, then everybody will be trying to off load their stuff and there will be very few buyers.

Relying on this forum to sell your stuff at the best time is not a very good move, and you should always have a back up plan. 

Get friendly with your local cash for silver/gold guy, who will take large amounts off you at short notice. You'll probably get paid around the same price as you'd need to drop to on eBay or here. 

 

Something to consider.

 

It's why I like having silver in places like bullionvault, I can sell at its peak with a touch of the keyboard. No having to photograph and list things, no making up adverts, no trips to the post office etc. These things are fine going from a bear to a bull market, but when you are at the end and you want top dollar for your items, trying to sell physical isn't easy. 

[ChrisSilver]

There are plenty of people who sell 10's of thousands of £/$/€ worth of items via the forum. Just ask the Premium Members if they feel it is worth selling on the forum.

[Clockpuncher]

3 minutes ago, HighlandTiger said:

Whilst selling on this forum is a brilliant idea, you only have to look at the sales forum to see just how many items sit unsold for weeks at a time. If you want a quick sale then you are forced to drop prices. 

If the spot price starts hitting those moon craters, then everybody will be trying to off load their stuff and there will be very few buyers.

Relying on this forum to sell your stuff at the best time is not a very good move, and you should always have a back up plan. 

Get friendly with your local cash for silver/gold guy, who will take large amounts off you at short notice. You'll probably get paid around the same price as you'd need to drop to on eBay or here. 

 

Something to consider.

 

It's why I like having silver in places like bullionvault, I can sell at its peak with a touch of the keyboard. No having to photograph and list things, no making up adverts, no trips to the post office etc. These things are fine going from a bear to a bull market, but when you are at the end and you want top dollar for your items, trying to sell physical isn't easy. 

Fair point. 

Personally I hate selling on Ebay due to the fees and the biased dispute process but its there in an emergency and certainly reaches a broader market.

In Erolroller's case he's already in the hole though with 175 ounces to shift. It's not a lot of volume and, priced correctly, he could shift the lot in a day to a single buyer on here. Maybe if he were trying to shift a couple of monster boxes he might overwhelm demand for a while! I reckon if he priced at £25 they will sell, £24 they will sell fairly quickly and at £23 he will be left with two soggy stumps where his arms used to be!

The bullion vault/ETF side of things makes sense for larger positions but I only allocate a small portion of my portfolio (5-10%) to PMs and prefer to hold the physical because (a) it's enjoyable and (b) the whole 'you don't own it if you don't hold it' mantra. That being said I use a safety deposit box so technically I suppose I don't hold it! we're all allowed a few inconsistencies right!?

[Erolroller]

5 hours ago, Clockpuncher said:

Fair point. 

Personally I hate selling on Ebay due to the fees and the biased dispute process but its there in an emergency and certainly reaches a broader market.

In Erolroller's case he's already in the hole though with 175 ounces to shift. It's not a lot of volume and, priced correctly, he could shift the lot in a day to a single buyer on here. Maybe if he were trying to shift a couple of monster boxes he might overwhelm demand for a while! I reckon if he priced at £25 they will sell, £24 they will sell fairly quickly and at £23 he will be left with two soggy stumps where his arms used to be!

The bullion vault/ETF side of things makes sense for larger positions but I only allocate a small portion of my portfolio (5-10%) to PMs and prefer to hold the physical because (a) it's enjoyable and (b) the whole 'you don't own it if you don't hold it' mantra. That being said I use a safety deposit box so technically I suppose I don't hold it! we're all allowed a few inconsistencies right!?

Unfortunately £25 is the min I would want if I decide/have to liquidate my position. Its something that all investors really should plan for, how to get out of physical fast if ever needed. I will do my best to hold for the foreseeable future and hope that I could sell quickly at £25 an oz over the coming months. Etfs make a lot of sense as you can cash out at the click of a button, for that reason alone its work the outlay imho. 

Regarding fiat money devaluing over the coming year or so with this massive recession that's looming on the horizon, well to be honest I have heard that over 10 years ago as well. I'll believe when I see it. Its all hype driven by fear mongering created by the big players. If I could sell all now 1 transaction at £25 I would. It may be under £2k profit for me in 10 year's that blows normal savings accounts out of the water. But I could make that in 6 weeks matched betting to be honest. I'm disillusioned with investing in physical now. 

[StevenDS]

On 15/09/2020 at 20:28, Erolroller said:

Unfortunately £25 is the min I would want if I decide/have to liquidate my position. Its something that all investors really should plan for, how to get out of physical fast if ever needed. I will do my best to hold for the foreseeable future and hope that I could sell quickly at £25 an oz over the coming months. Etfs make a lot of sense as you can cash out at the click of a button, for that reason alone its work the outlay imho. 

Regarding fiat money devaluing over the coming year or so with this massive recession that's looming on the horizon, well to be honest I have heard that over 10 years ago as well. I'll believe when I see it. Its all hype driven by fear mongering created by the big players. If I could sell all now 1 transaction at £25 I would. It may be under £2k profit for me in 10 year's that blows normal savings accounts out of the water. But I could make that in 6 weeks matched betting to be honest. I'm disillusioned with investing in physical now. 

My rule of thumb for buying/selling between private person is a win/win situation compared to dealing with bullion dealers. In my situation, being from Belgium, my dealer for buying is Goldsilver .be and for selling is goud999 .be.

Let's take 1 oz BU maples as example:

Buy price: €24,51/oz

Sell price: €22,55/oz

So a good price for a deal between private persons would be smack in the middle, €23,53. This way you split the dealer's margin between the two private parties, thus creating a win/win situation.

[Erolroller]

On 15/09/2020 at 13:45, HighlandTiger said:

Relying on this forum to sell your stuff at the best time is not a very good move, and you should always have a back up plan. 

Get friendly with your local cash for silver/gold guy, who will take large amounts off you at short notice. You'll probably get paid around the same price as you'd need to drop to on eBay or here. 

I don't have a local silver /gold guy. A pawn broker in Belfast offered me £9 per coin. When I said thats well under half of spot price, he said, well I have to make double my money. 

 

[Erolroller]

On 15/09/2020 at 09:46, Clockpuncher said:

Very easy - you can sell through the trade forum on here - no fees (albeit nice to consider maybe buying the silver membership for a month if you are using the facilities to give a bit back to the forum)

Read this: 

Construct a listing using this format as a guide - include some photos too!

https://www.thesilverforum.com/topic/37043-suggested-template-for-trade-listings-optional/

 

And then list them in the UK & Europe (ungraded) trade section here:

https://www.thesilverforum.com/forum/13-uk-europe-ungraded/

How does the selling transactions work on here. Is it bank transfer into your account before you ship to the buyer? I'm really new to this, any info on the transaction process of selling on here would be welcome. 

[Clockpuncher]

3 minutes ago, Erolroller said:

How does the selling transactions work on here. Is it bank transfer into your account before you ship to the buyer? I'm really new to this, any info on the transaction process of selling on here would be welcome. 

Stick your advert up and yes, cash wired over to you before you post the goods. As you're new to trading some people might be hesitant  given you've got no track record so you may have to use an intermediary service (Backyard Bullion runs one) or agree something between you and the buyer which works.

Postage is at buyer's risk so most go with Royal Mail Special Delivery.

[StevenDS]

8 hours ago, Clockpuncher said:

Stick your advert up and yes, cash wired over to you before you post the goods. As you're new to trading some people might be hesitant  given you've got no track record so you may have to use an intermediary service (Backyard Bullion runs one) or agree something between you and the buyer which works.

Postage is at buyer's risk so most go with Royal Mail Special Delivery.

You can trust the trading reviews on people's profiles. Unfortunately it is temporary down due to the forum migration to a new software. It's not supported atm by anything the new developer has built for the site. They are in talks with the dev, whether he will create something or a new dev needs to be attracted. So it seems it might take some time.

If you see someone with 100+ positive reviews and not a single bad one, being new without trading reputation on this site like yourself, I'd trust them enough to send the goods first.

[HighlandTiger]

On 15/09/2020 at 19:28, Erolroller said:

Unfortunately £25 is the min I would want if I decide/have to liquidate my position. Its something that all investors really should plan for, how to get out of physical fast if ever needed. I will do my best to hold for the foreseeable future and hope that I could sell quickly at £25 an oz over the coming months. Etfs make a lot of sense as you can cash out at the click of a button, for that reason alone its work the outlay imho. 

Regarding fiat money devaluing over the coming year or so with this massive recession that's looming on the horizon, well to be honest I have heard that over 10 years ago as well. I'll believe when I see it. Its all hype driven by fear mongering created by the big players. If I could sell all now 1 transaction at £25 I would. It may be under £2k profit for me in 10 year's that blows normal savings accounts out of the water. But I could make that in 6 weeks matched betting to be honest. I'm disillusioned with investing in physical now. 

Totally agree with the match betting comment. I made an easy several thousand pounds profit over a few months. The only reason I stopped was because of work patterns and the lack of time to concentrate on the offers. I do intend to dabble in it again when time allows.