Is it difficult to sell coins here as a newbie? Would Premium-Membership help?

[Silverdigger]

Hi, 

currently I want to sell about 200 1oz silver bullion coins (American Eagle and Maple Leaf) relatively fast, before Christmas. And I would like to sell them in tubes of 20 at least or even bigger sizes, because otherwise it would take too long.

Is it realistic to get a price of 21GBP or at least 20GBP per coin as a brand new member on this forum in 7 days? Would silver premium membership help my reputation?

[BullionBob]

Hi 

In my experience on the forum, you may struggle to sell in such quantities without any feedback on your account, although your prices are fantastic.

Backyard Bullion offers a middle man service for a small fee - this may help you sell faster as a new member.

One other option is to possibly allow payment on delivery but I would only recommend doing this with an established forum member.

Hope this helps and good luck with the sale.

[Pete]

As a newcomer with no feedback you may be asked to ship your coins before receiving payment.

If you sell to a premium member with good feedback you should be fine but you can be taking too much risk any other way.

As you are looking for a quick sale without any stress and worries I would point you in the direction of selling to BullionbyPost who will give you an instant fixed price subject to verification of your coins which takes a couple of days.

Using BYB as an intermediary is also worth investigating as suggested by BullionBob.

[PuddinTame]

i wish you were in the US. looking to add some ASE to my stack. GLWS though

[Silverdigger]

Thanks for the advice guys. So far It seems my stuff is selling.

[dyckstrasrevenge]

Id be happy to buy one or two as a start and pay you after getting the actual coins.

pm me if possible

[Erolroller]

On 14/12/2020 at 01:22, Silverdigger said:

Hi, 

currently I want to sell about 200 1oz silver bullion coins (American Eagle and Maple Leaf) relatively fast, before Christmas. And I would like to sell them in tubes of 20 at least or even bigger sizes, because otherwise it would take too long.

Is it realistic to get a price of 21GBP or at least 20GBP per coin as a brand new member on this forum in 7 days? Would silver premium membership help my reputation?

Why are you selling these so cheap? As of today's increase 1oz coins are from £25 upwards? 

[Derv]

19 minutes ago, Erolroller said:

Why are you selling these so cheap? As of today's increase 1oz coins are from £25 upwards? 

Not on here there not. 

[kamik0zi]

38 minutes ago, Erolroller said:

Why are you selling these so cheap? As of today's increase 1oz coins are from £25 upwards? 

Interesting. I'm not getting much traction this week at £22 for tubes or £23 individually

[RedDragon77]

1 hour ago, Erolroller said:

Why are you selling these so cheap? As of today's increase 1oz coins are from £25 upwards? 

Couldn't speculate on motives, but OP said wanted to sell them fast (7 days!) and OP is new, so sounds like he recognizes the trade-offs of achieving that goal means price-to-move.

[Pete]

On 14/12/2020 at 23:01, Silverdigger said:

Thanks for the advice guys. So far It seems my stuff is selling.

So I looked in the Sales Section to see what you were selling and found this -

.... Sale had to be withdrawn because of changed circumstances. The members who were interested have been informed/transactions reversed/compensated. I apologize for the waste of time.....

?????

Not the best of starts on the Forum eh ?

 

[Erolroller]

1 hour ago, Pete said:

So I looked in the Sales Section to see what you were selling and found this -

.... Sale had to be withdrawn because of changed circumstances. The members who were interested have been informed/transactions reversed/compensated. I apologize for the waste of time.....

?????

Not the best of starts on the Forum eh ?

 

Sounds like they were them chocolate coins 

[Erolroller]

3 hours ago, Derv said:

Not on here there not. 

On here prices don't appear to be correlated to bullion sites like bullionbuypost etc, whom are charging £27.84 plus vat for their cheapest 1oz maple leafs. 

[ZigZag]

3 hours ago, Pete said:

So I looked in the Sales Section to see what you were selling and found this -

.... Sale had to be withdrawn because of changed circumstances. The members who were interested have been informed/transactions reversed/compensated. I apologize for the waste of time.....

?????

Not the best of starts on the Forum eh ?

 

Best not to judge too quick, one of my first transactions was to buy capsules or coin boxes from @morezone, can’t begin to tell you how patient he was explaining what a ricket I was making of my first friends and family transaction 🙄

That piece of modern day wizardry had bypassed me for years 🤷‍♂️ Eventually his idiots guide explanation got me there but it was a little embarrassing at the time 😂

[MintageSeller]

On 17/12/2020 at 19:51, RedDragon77 said:

Couldn't speculate on motives, but OP said wanted to sell them fast (7 days!) and OP is new, so sounds like he recognizes the trade-offs of achieving that goal means price-to-move.

Literally could sell for 20£ and someone will snag them in like a day. Price them and you'll move 200 in that time. 

[KeithSilver]

On 14/12/2020 at 10:28, Pete said:

selling to BullionbyPost who will give you an instant fixed price subject to verification of your coins which takes a couple of days.

Using BYB as an intermediary is also worth investigating as suggested by BullionBob.

I'm also a newbie looking to sell some, and buy, but as stated above we are pushed/advised to sell to byb/bbp.

Isn't the point of the forum to make private sales easier? Not discourage, which I'm my opinion puts people off physical which is hard to sell (at a profit) if you have no connections or are not a trader.

Obviously this dude messed up which does look bad on us newbies tho.

Do many people offer for collection? I'd rather have someone collect from me, then no chance of a con. Obviously this would be a larger amount to make the trip worth it.

At the moment I'm a bit put of buying more silver as it looks hard to shift without getting low offers from the big dogs.

[MintageSeller]

11 minutes ago, KeithSilver said:

I'm also a newbie looking to sell some, and buy, but as stated above we are pushed/advised to sell to byb/bbp.

Isn't the point of the forum to make private sales easier? Not discourage, which I'm my opinion puts people off physical which is hard to sell (at a profit) if you have no connections or are not a trader.

Obviously this dude messed up which does look bad on us newbies tho.

Do many people offer for collection? I'd rather have someone collect from me, then no chance of a con. Obviously this would be a larger amount to make the trip worth it.

At the moment I'm a bit put of buying more silver as it looks hard to shift without getting low offers from the big dogs.

Guys on here are pretty good tbh, post in silver topic for sale: We all love silver and gold. Everyone understands the value of silver and premiums sometimes we pay to much and sometimes we pay less. It is part of the game. Do your research, and do not hesitate to challenge or counteroffer on prices or items aha within good intention. 

People here push 1 ounce coins on the forum like its hot cakes.Im sure you can post a for sale and work something out. 

Ask a moderator if you're unsure or want advice directly. They are friendly and super helpful.

[Chorlton]

37 minutes ago, KeithSilver said:

I'm also a newbie looking to sell some, and buy, but as stated above we are pushed/advised to sell to byb/bbp.

Isn't the point of the forum to make private sales easier? Not discourage, which I'm my opinion puts people off physical which is hard to sell (at a profit) if you have no connections or are not a trader.

Obviously this dude messed up which does look bad on us newbies tho.

Do many people offer for collection? I'd rather have someone collect from me, then no chance of a con. Obviously this would be a larger amount to make the trip worth it.

At the moment I'm a bit put of buying more silver as it looks hard to shift without getting low offers from the big dogs.

You will always get a variety of offers as members vary from stackers, to collectors , to dealers which puts them at different price points and quantities. There is a lot of knowledge on the forum which I have used many times to gain further knowledge, the potential downside to this is people are unlikely to pay speculative EBay prices or the prices that more expensive dealers charge. Just take your time and you will get a feel for it.

[kamik0zi]

53 minutes ago, KeithSilver said:

I'm also a newbie looking to sell some, and buy, but as stated above we are pushed/advised to sell to byb/bbp.

Isn't the point of the forum to make private sales easier? Not discourage, which I'm my opinion puts people off physical which is hard to sell (at a profit) if you have no connections or are not a trader.

Obviously this dude messed up which does look bad on us newbies tho.

Do many people offer for collection? I'd rather have someone collect from me, then no chance of a con. Obviously this would be a larger amount to make the trip worth it.

At the moment I'm a bit put of buying more silver as it looks hard to shift without getting low offers from the big dogs.

I have now managed to sell the stack I was selling. It took a month or so to get going but sales massively took off after Christmas and I'm grateful to TSF members who offered friendship and those who bought as well. I might put into words a summary of my experience for the benefit of future newbies, if I get the chance.

[KeithSilver]

Thanks for the replies to my comment. I'm still learning on here...already everything I'm reading seems very friendly with lots of advice.

Happy new year 🎉

[billysilver]

9 hours ago, KeithSilver said:

I'm also a newbie looking to sell some, and buy, but as stated above we are pushed/advised to sell to byb/bbp.

Isn't the point of the forum to make private sales easier? Not discourage, which I'm my opinion puts people off physical which is hard to sell (at a profit) if you have no connections or are not a trader.

I wouldn't have thought using a trusted forum sponsor(BYB) as an intermediary service for selling a single lot of £2000 worth of silver on a forum one has just registered for would have been discouraging, I personally find it to be quite the opposite and an asset in your particular circumstance.

Trust is an important thing between humans and especially regarding private trading, relationships and Trust are built up, Trust is earned over time. It would be unreasonable to expect to sell £2000 worth of silver in one lot in a space where no Trust has been built within the community.

Your silver is an amazing price and I would Love a crack at it if I had the free cash but there would be absolutely zero chance I would send £2000 to a stranger with zero rep, that's far too high an expectation of Trust. Which is why BYB's service is excellent and why you would have been encouraged and advised towards using it.

I imagine you must be in a position where you need £2000 sharpish, otherwise you would sell 1oz at a time, which you could do quite successfully as a newbie, building your rep as you go and then once an established and trusted member of the community then shifting larger volumes at once.

If I were in a position where I needed the cash, so I figured I will will sell a high price lot of silver in a community I have just entered, I wouldn't expect automatic Trust, I would expect to give something  and the fee for the intermediary service seems like an entirely reasonable thing to give in exchange for facilitating a bulk sale as a new member.

Or you could get lucky and somebody near by may see your listing and be happy to meet a stranger in person carrying £2000 in their back pocket.

I think it highly unlikely though...

 

Just my two cents...

 

Happy New Year, all the best to you and yours, welcome to the forum, hope you enjoy and can get some good trades in.

 

[Becca]

Those who buy large numbers of 1oz silver coins for selling expect to play the long game. Dropping tubes makes small margins, dropping a few coins at a time makes you bigger profit but takes patience. 

The benefit to selling small is it ups your ratings and accumulates trust which is a must in this community. I was selling 10oz beasts on here a year ago for payment after arrival just to get started and build some trust. Big risk for me but its how the game is played its based on trust.

Having a stack of silver is great and you feel good but if you need to drop it in a hurry it is not so easy, try and have a few sovereigns tucked away which are easily converted.

This probably does not help your situation just now but I hope it helps you out a little.

Earn your trust and life gets easier

B

[kimchi]

I'm going to offer a slightly contrary opinion here, and that is whether a 'newbie' has a Premium Membership or not makes no difference to me - I would be equally as hesitant. Paying a fiver or so for membership when you have zero rep or aren't known to the community brings nothing to wiser heads, though (if one had bad intentions) it may fool other new members (so a warning to those there!).

Feedback, general rep when buying/selling, and involvement in the community are key for me.

That said, if a 'newbie' (sorry for using that word again, hate it) comes on and makes some sales which go well it can be quite quick to build up good seller feedback, but not if looking to shift a few thousand ounces quickly. I would also recommend caution around new members even once they have made tens of sales of small amounts, exactly the same as for any other marketplace.

I think @BackyardBullion's service is great but it does come at a cost, and I don't believe he has a Sigma (please correct me if I'm wrong here buddy and I will edit the post!) so it would involve handling the coins for testing (specific gravity test etc). Gold is a bit easier in my experience (and more forgiving of the processes involved), but I'm sure he would be 100% thorough in either case.

Also, I think it is only fair to say that if there is another third party willing to help they have also fulfilled similar roles in the past at no cost, but BYB is the easiest as the service is always on offer (I believe) rather than hunting around for someone to help (whose own credentials must be impeccable!).

Good wishes

 

[BackyardBullion]

@kimchi I don't have a sigma, but having unboxed and processed close to 10,000 oz of silver in the group orders I would know pretty quickly if something doesn't look right.

Sigma machines are overrated anyway, they are good for coins but anything thicker than 4mm it's not reliable 100%.

I offer my services at a price, people can lay for that service or use other members for free - I am offering a service at the end of the day and that takes my time so I get compensation for it. If I offered it for free I think I would be doing countless trade facilitations and it would be quite burdensome!

People can use it or not, it makes very little difference to me but it can make a big difference for a small fee to buyers and sellers.

As to the main topic of this thread, forum members are very shrewd. They are willing often to wait for the next deal to be posted.

You see bars from arshimo or others get listed at bargain prices and they sell in seconds, if someone listed silver coins at £20/oz right now I would imagine they would be sold in minutes by an established member. 

 

[kimchi]

@BackyardBullion I am sorry, I did not mean to be rude (?). I am not inexperienced in a quantity of coins either, and I want a Sigma now. For 1oz (and more) coins they are extremely accurate, quick, and non-invasive.

I thought I gave a balanced opinion of the fine service I believe you offer - obviously you disagree.

Anyway, best wishes for 2021