Jump to content
  • The above Banner is a Sponsored Banner.

    Upgrade to Premium Membership to remove this Banner & All Google Ads. For full list of Premium Member benefits Click HERE.

  • Join The Silver Forum

    The Silver Forum is one of the largest and best loved silver and gold precious metals forums in the world, established since 2014. Join today for FREE! Browse the sponsor's topics (hidden to guests) for special deals and offers, check out the bargains in the members trade section and join in with our community reacting and commenting on topic posts. If you have any questions whatsoever about precious metals collecting and investing please join and start a topic and we will be here to help with our knowledge :) happy stacking/collecting. 21,000+ forum members and 1 million+ forum posts. For the latest up to date stats please see the stats in the right sidebar when browsing from desktop. Sign up for FREE to view the forum with reduced ads. 

How do high weight stackers intend to sell when the time comes?


Coreytyler07

Recommended Posts

I've been stacking for only a short time, so I don't have a large amount to eventually sell off just yet but even the small amount I have makes me nervous for when it comes time to sell. I see people with huge stacks of metals with plans to use it as financial backing- basically like a savings account. How do these people Intend to sell these large amounts once the time comes? Can you really walk into a coin shop with a box of silver/gold worth tens of thousands and leave with money? I'm just confused about the selling part because it seems like no one would want to buy so much at least in a short amount of time.  

Link to comment
Share on other sites

This questions comes up again and again in slight varieties. To be honest I never really got it. You just sell it to a dealer. I have never sold anything yet but buying and selling precious metals is what they do for a living so why would they not buy what's a large amount for an individual stacker (but little to them)? And if you are so wealthy that you can afford tons upon tons of silver so that a single dealer might not buy it, you could still split it up and sell it to several dealers. But this won't be an issue for probably at least 99,99% of stackers.

So principally there is no issue there. However, in terms of selling at the best prices, other forum members will rightfully tell you, if you sell it to individuals you will be able to make a bit more money out of it but it will take longer to sell it. Thus, most people with a big stack, if they sell all at once, dump it at a dealer.

More specifically you should ask yourself, might I get a lot of silver that's not the kind the dealers like a lot from? For that - if you buy what they sell a lot, in the UK that's e.g. Britannias and world wide that's all the big bullion coins (thus including Britannias elsewhere and e.g. Maples, Philharmonics, Eagles etc in the UK).

Similarly for common 1kg (10 ounce bars), dealers will buy all the big brands in any quantity (that a usual, large but single stacker has accumulated over a long period).

So the question is not, can you easily sell large even very large quantities - yes, you can. The question is what are the best options for selling (and thus for buying).

Edit: You have written about your local dealer - they might not buy a gigantic stack at once, if they are a small dealer. But if they are you can still sell to a bigger dealer.

Just ask them! But if you accumulate a lot over a long time and sell it all at once in decades, who knows if they will still be around. If not, there will be some dealers that will buy it. Still - just ask them. Building a relationship with them won't be a disadvantge, although it's not necessary at all in order to sell also big amounts of silver at once.

Link to comment
Share on other sites

2 hours ago, Coreytyler07 said:

I've been stacking for only a short time, so I don't have a large amount to eventually sell off just yet but even the small amount I have makes me nervous for when it comes time to sell. I see people with huge stacks of metals with plans to use it as financial backing- basically like a savings account. How do these people Intend to sell these large amounts once the time comes? Can you really walk into a coin shop with a box of silver/gold worth tens of thousands and leave with money? I'm just confused about the selling part because it seems like no one would want to buy so much at least in a short amount of time.  

I have a local cash for gold dealer, who I have become very friendly with over the years. He regularly goes up to Birmingham every few weeks, a few weeks ago I met him on his way back from Birmingham where he had just cashed in £80k of gold and silver jewellery and coins.

 

The big dealers don't bat an eyelid on very large amounts although they may do some ID checks on you, because of money laundering regulations. 

Link to comment
Share on other sites

I suppose it depends how big the stack is?

supply and demand?
Reading so much about Comex paper manipulation by the big players,  naked  shorts Etc. They don’t like us speculating with our gold.
When Gordon Brown announced as chancellor of exchequer that he was taking our!! Gold to the equivalent of “cash for gold” shop. It had a resulting consequence of massively dropping the price we received as a nation by him advertising what he was about to do. I read recently this was a ploy to help out banks who were over leveraged at the time with massive short options. 
Any one got a crystal ball for sale? 🤔

I am a newbie, to this fascinating world of PM 

Link to comment
Share on other sites

On 12/10/2020 at 11:03, Coreytyler07 said:

I've been stacking for only a short time, so I don't have a large amount to eventually sell off just yet but even the small amount I have makes me nervous for when it comes time to sell. I see people with huge stacks of metals with plans to use it as financial backing- basically like a savings account. How do these people Intend to sell these large amounts once the time comes? Can you really walk into a coin shop with a box of silver/gold worth tens of thousands and leave with money? I'm just confused about the selling part because it seems like no one would want to buy so much at least in a short amount of time.  

I would say there will be a time when dealers will be contacting you.

The idea of the huge sell off in one hit doesn't sit right with me, IMHO selling of percentages of the stack over time allows you to stay in the saddle and ride the price higher, If you have stacked for a while ( lets say a decade ) and you unload a week before a huge run up, and then watched the value climb for the next 6 months that would be hard to take on the chin.

 

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

×
×
  • Create New...

Cookies & terms of service

We have placed cookies on your device to help make this website better. By continuing to use this site you consent to the use of cookies and to our Privacy Policy & Terms of Use