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selling


pedco

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Hi there,  im wanting to sell some of  my stack.  ive been told to come here to get a fair price.  i was going down the ebay road.  but i will try here first.   i have forsale  1.250+ kg pre 1920  british coins . plus around 20 bullion coins 1oz mixed.  How do i sell on this forum. kind regards peter.

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There is always the option to use a reputable member like BYB as a go between, where the extra cost is a small fee to the member and having to pay postage twice. This method will mean that you won't have to sell in small batches. This will be a lot less than you are losing via Ebay and will avoid those charge back scammers that are prevalent on Ebay.

Stefan is right in saying that members are less likely to drop large amounts on silver from a new seller.

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As a new stacker, I tend to look at Youtube silver videos daily. I was horified to watch a video from Northern Coins about the price offered on silver for sale. It was in the comments that I saw this site recommended. I am grateful for bcoming a member.

Most of my coins are 1 oz Bittanias,however i have just aquired 37 oz of  5oo grade coins  and 4 oz of 925 coins. My next task is to see if there are some rare ones.

I paid £350 for the lot , It seemed fair to me.  Any comments appreciated.

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1 hour ago, JimboMaldon said:

As a new stacker, I tend to look at Youtube silver videos daily. I was horified to watch a video from Northern Coins about the price offered on silver for sale. It was in the comments that I saw this site recommended. I am grateful for bcoming a member.

Most of my coins are 1 oz Bittanias,however i have just aquired 37 oz of  5oo grade coins  and 4 oz of 925 coins. My next task is to see if there are some rare ones.

I paid £350 for the lot , It seemed fair to me.  Any comments appreciated.

Good price, I make it £410 spot ish. Where did you find them? 😃

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On 24/06/2021 at 12:12, Yetiwatch said:

There is always the option to use a reputable member like BYB as a go between, where the extra cost is a small fee to the member and having to pay postage twice. This method will mean that you won't have to sell in small batches. This will be a lot less than you are losing via Ebay and will avoid those charge back scammers that are prevalent on Ebay.

Stefan is right in saying that members are less likely to drop large amounts on silver from a new seller.

The only drawback is that @BackyardBullion likes to fondle things! 🙂

Chards

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On 23/06/2021 at 13:24, stefffana said:

Hi, @pedco,

It is a huge difference between selling on Ebay and selling on forum. On Ebay, the buyer is protected by Money back guarantee system and any genuine buyer is confident in paying any amount of cash for any product. Of course, there are fees to pay for sellers and are not small ( minimum 12.5%) On forum are not fees, but the buyer is protected only by a good reputation of the seller. Any new seller on here find difficult to sell his precious metals because the trust is building hard and takes time.

On here, if you want to build your trading history, you must try to buy from others few bits and in the same time to sell small batches of your silver at decent prices.

Let's talk about your Pre20 british silver coins. A fair price at this moment is between 10% and 20% over spot. At this premium these coins will sell quick, but nobody will feel comfortable to pay you in full for all your quantity, because your 0 trading feedback history.

So, my advice is to put on sale small batches of 75g coins for £50, with 1st class RM included. This price is for actual spot price of £0.6/g:

75g x 0.925 (silver purity) x £0.6/g + 20%premium = £49.95

In this case, the buyer will pay exactly 20% over spot, and for you, paying £4 for shipping, the remaining premium will be 11% over spot (in my opinion a fair one). I know, it is not a huge one, but is better than selling on Ebay who is eating minimum 12.5% from your final price and much better than selling on dealers as scrap, under spot price.

About your 1oz silver bullion coins, if are not special and collectible, will sell quick in batches of 5 for £130, special delivery included. This is for you a price of £24.7/oz after paying £6.5 for postage and for buyer is a price paid of £26/oz. I know, it is apparently less than Ebay, but think again on fees and the risk of scammers between your Ebay customers. In my opinion at this moment is a fair price. 

At beginning, first two or three sales, be open to send your coins before the payment is made, if the buyer has a good reputation. There are not scammers here. This can help you in selling quicker your precious metals and in building your reputation and the buyers will can guarantee for your good faith.

After a while, when your feedback history will be higher, you will be able to sell at a very little higher price, around 1%-2% more, because your trust rate is higher.

All the best, good luck with your sales and welcome!🤗

Stefan.

tHANKS FOR THIS

 

 

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On 25/06/2021 at 17:55, Darr3nG said:

[https://www.youtube.com/watch?v=sKOhq7VQ-vk]

Agreed, time to make sure my stack includes some "instructions for sale" ( #1: TSF Membership :) )

Thanks for posting the link, otherwise I would never have watched it.

"Northern Coins" (sounds like a dealer name) does tell a rather sad story, but we do hear much worse from "armchair investors" who have only ever bought from the more infamous coin marketing companies.

He has clearly bought without much thought, planning, research, or learning, and would have done well to join TSF before he started. Sure he would have got a lot of different opinions, and might have ended even more confused, but he culd have benefitted from the education here before he started spending money.

He did seem very negative about almost everything, and also to be blaming everybody else. Definitely a glass half empty person. I think he cherry picked all the lowest buying prices for his examples.

It also made me cringe to see him tip a tube of 2020 silver Britannias out very carelessly, as though he did not know or care about condition. It makes me wonder whether he has fingered his one really good purchase, his silver proof 3 graces.

He also stated the spot silver price to be £18.47 when it showed on his phone as £18.74

The prices from Cash Converters were interesting, but almost predictable, and might have been better in a different video. It detracted from this one.

At least he didn't "invest" £100K with LMO!

Chards

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On 21/06/2021 at 22:33, pedco said:

Hi there,  im wanting to sell some of  my stack.  ive been told to come here to get a fair price.  i was going down the ebay road.  but i will try here first.   i have forsale  1.250+ kg pre 1920  british coins . plus around 20 bullion coins 1oz mixed.  How do i sell on this forum. kind regards peter.

I would rather trust any established member of TSF than most buyers or sellers on ebay, or even ebay itself.

New members, like yourself do need to establish yourself of course.

TSF is almost a community, with real people, whereas ebay and other tech giant site are run by vast PLCs whose only interest is maximising profit for their shareholders (and I am a capitalist!). They mainly employ moronic staff who must follow company policy, and who are not interested in you, me, or us.

Chards

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Hi for my bit.  I would sell in groups of 

5 coins

10 coins

15 coins

20 coins

all with postage at buyers choice and responsabiltiy with recommended  Special delivery with full insurance same as good dealers. 

If one person wants one coin to complete a date run then yes ok help them out but remember postage and insurance is their responsibility.  

You are new on the forum, if you are serious then become a silver member at least (I am) that way the owner of the forum has your details.  

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5 hours ago, LawrenceChard said:

Thanks for posting the link, otherwise I would never have watched it.

"Northern Coins" (sounds like a dealer name) does tell a rather sad story, but we do hear much worse from "armchair investors" who have only ever bought from the more infamous coin marketing companies.

He has clearly bought without much thought, planning, research, or learning, and would have done well to join TSF before he started. Sure he would have got a lot of different opinions, and might have ended even more confused, but he culd have benefitted from the education here before he started spending money.

He did seem very negative about almost everything, and also to be blaming everybody else. Definitely a glass half empty person. I think he cherry picked all the lowest buying prices for his examples.

It also made me cringe to see him tip a tube of 2020 silver Britannias out very carelessly, as though he did not know or care about condition. It makes me wonder whether he has fingered his one really good purchase, his silver proof 3 graces.

He also stated the spot silver price to be £18.47 when it showed on his phone as £18.74

The prices from Cash Converters were interesting, but almost predictable, and might have been better in a different video. It detracted from this one.

At least he didn't "invest" £100K with LMO!

As  i pointed out. He bought a Three Graces for £255 and if he had sold it as soon as possible when the hype was sky high he would have made enough profit to cover his losses from the other coins shown.   

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Just now, pricha said:

As  i pointed out. He bought a Three Graces for £255 and if he had sold it as soon as possible when the hype was sky high he would have made enough profit to cover his losses from the other coins shown.   It's like someone finding a £50 note then moaning because he lost a fiver the next day . 

 

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2 hours ago, pricha said:

As  i pointed out. He bought a Three Graces for £255 and if he had sold it as soon as possible when the hype was sky high he would have made enough profit to cover his losses from the other coins shown.   

Yes, I noticed your earlier post, which was a good point. He could still get a good price for it, but would rather complain.

He is not necessarily making a loss on most of the other coins, unless he does sell them. 

I advise investors to buy gold bullion, rather than silver because of the VAT, but he appears not to have done much research before jumpng in.

Seasoned silver bugs know about VAT, but many still buy silver despite it. At least they are well informed, and make their own choices.

Chards

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1 minute ago, LawrenceChard said:

Yes, I noticed your earlier post, which was a good point. He could still get a good price for it, but would rather complain.

He is not necessarily making a loss on most of the other coins, unless he does sell them. 

I advise investors to buy gold bullion, rather than silver because of the VAT, but he appears not to have done much research before jumpng in.

Seasoned silver bugs know about VAT, but many still buy silver despite it. At least they are well informed, and make their own choices.

I do agree with general opinion about buying gold instead silver, but for me silver is addictive. So, I've decided to continue buying, but at the lowest premium possible, from junk and scrap to ugly bars. Nobody can predict where the spot price will be in 10-15 years...but I'm prepared for any scenario. Maybe the actual premium and VAT will be covered by inflation / spot increase in the future.

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