Advice and Suggestions for how to stack silver

[artalien]

Hello TSF I call upon the collective wisdom of this fine establishment. I am done stacking Au as I am skint and getting old. I therefore intend to go all in on Ag which I will play as a spot game only. I mean as close to zero premium as possible at both the buy and sell end. So here comes the ask.

What are the viable options for getting silver at as close to spot as possible? Condition isn't really an issue but better is always good. Suggestions and advice very welcome. Over to your good selves. Thanks for reading.

[James32]

Will tag @stefffana as he's very astute in this arena. 

[HonestMoneyGoldSilver]

From my limited experience, the only silver you're getting at spot is silver that other people don't want

You could try to become a dealer and put up flyers in your town/city saying you will purchase silver for spot. That is a viable option but not straight forward

If you want desirable silver like 999+ rounds and coins, I rarely see even poor condition coins below spot +15%. Good condition desirable silver is spot +25% for coins.

Rounds are better value but only in sales-tax free regions like the USA or Canada. I buy foreign rounds when I find them if they're priced like domestic markets. Rare though. The odd time I pick up auctions on eBay that are at or below spot including shipping. IDK why some things sell and others don't, it's just luck of the draw. A lot of sellers will put up like 20-100 rounds/coins (brits, eagles, maples, krugs, kooks, etc) and some sell for a lot more than I would pay while others go cheap. It's possibly easier to find value in semi-numismatic auctions when people are unsure of the value like on eBay

[Bigmarc]

eBay. These items sold yesterday (I've lost my spreads sheet so can't work out the spot at the moment) but sure they are fairly close. 

 

[artalien]

22 minutes ago, HonestMoneyGoldSilver said:

From my limited experience, the only silver you're getting at spot is silver that other people don't want

I hear you but it isn't necessarily a problem because I am just betting on the metal. Better ofc if I like it.

 

23 minutes ago, HonestMoneyGoldSilver said:

You could try to become a dealer and put up flyers in your town/city saying you will purchase silver for spot. That is a viable option but not straight forward

Interesting thought, never occurred to me.

 

25 minutes ago, HonestMoneyGoldSilver said:

It's possibly easier to find value in semi-numismatic auctions when people are unsure of the value like on eBay

Good shout I need to do some research on those in my area. That's one of my problems stacking I have no LCS so postage cost is really a killer for the stack average.

 

8 minutes ago, Bigmarc said:

but sure they are fairly close

I think you're right. So Ebay is definitely an option.

 

46 minutes ago, James32 said:

Will tag @stefffana as he's very astute in this aren

Thanks James. Yes I have noticed he likes his silver at spot and tactile.

[Bigmarc]

21 minutes ago, artalien said:

think you're right. So Ebay is definitely an option

Pretty much majority of what I have yes. Auctions and eBay. Search for the coin rather than what it's made from. 

I have never had problem sell anything apart from bars. 

[Mobius]

If you don't care if it's not coins, silver salvers on ebay go under spot occasionally. Only today a 10oz silver salver went for £150 with free postage, and with spot at £18, it's worth £166.
A few months back some lucky soul got a silver salver weighing nearly a kilo for £295!
Other antique silver that normally sells around spot is holloware (bowls, tea pots, etc) and flatware (spoons & forks), the newer stuff will be the cheapest coz people collect the old stuff!

You'll have to invest some time traipsing round ebay but it could well be worth it.

 

[MrStacker]

Second hand sterling silver.

Pre-1920s sterling silver coins.

VAT free or exempt silver (if you can find it)

Here on TSF silver coins and bars are much better priced compared to the dealers.

Avoid dealers and purchasing brand new silver bullion unless they give you an acceptable discount on multiple purchases.

DO NOT rush in purchasing silver. Think very carefully what makes sense for your position. Also consider purchasing smaller fractional gold coins....don't give up completely on gold!?

[Bigmarc]

1 hour ago, Bigmarc said:

eBay. These items sold yesterday (I've lost my spreads sheet so can't work out the spot at the moment) but sure they are fairly close. 

 

Worked it out, spot price for the pre 20s is £60.48. (+4.2%)

For the pre 47's is £23.76. (-7%)

The pre 20s do look a little worn tho. 

[artalien]

26 minutes ago, Mobius said:

lucky soul got a silver salver weighing nearly a kilo for £295!

Now we are talking. I'll look into other manifestations of silver.

 

27 minutes ago, Mobius said:

You'll have to invest some time traipsing round ebay but it could well be worth it.

Thanks mate. I will begin the search soon.

 

11 minutes ago, MrStacker said:

DO NOT rush in purchasing silver. Think very carefully what makes sense for your position. Also consider purchasing smaller fractional gold coins....don't give up completely on gold!?

Great advice. I didn't give up on Au rather it gave up on me. Nah seriously its time to spend down over time the small amout of gold I hold.

[artalien]

Anyone know what the % loss is from spot if sold for the pot?

Edited January 11 by artalien

[SeverinDigsSovereigns]

I think you'll see people offloading old coins (pre 47 sixpences, pre 20 halfcrown, that sort of things) at spot. That's probably the lowest price silver coins you'll get.

I've also seen people selling sterling silverware on this forum under spot.

I can't think of anything cheaper, really.

[FriedrichVonHayek]

If you are buying scrap there are certain items to avoid such as candlesticks as they have weighted bottoms and many cutlery knives have weighted handles.

[artalien]

Big thank-you to all who have posted so far. Great advice and suggestions. I got my first .925 at spot yesterday thanks to @stefffana who gave me the heads up.

Please continue to add to this thread with anything relevant. Bigging up TSF.

[LemmyMcGregor]

eBay, time, patience anc max bid.

1. Look for anything that you like
2. calculate spot
3. include postage in your calculation
4. make a max bid.

If you win you've got silver at spot, if you lose all it has really cost you is the minute to open the auction, do minimal math and drop a max bid.

I would probably start easy with coins, it's easy enough to give a value to each and do a quick count on the fly, take your time with flatware to get to learn markings.

[artalien]

3 minutes ago, LemmyMcGregor said:

minimal math and drop a max bid.

This sounds like a great strategy. Thanks very much.

5 minutes ago, LemmyMcGregor said:

If you win you've got silver at spot,

Boom 🙂

[Bigmarc]

17 minutes ago, LemmyMcGregor said:

eBay, time, patience anc max bid.

1. Look for anything that you like
2. calculate spot
3. include postage in your calculation
4. make a max bid.

If you win you've got silver at spot, if you lose all it has really cost you is the minute to open the auction, do minimal math and drop a max bid.

I would probably start easy with coins, it's easy enough to give a value to each and do a quick count on the fly, take your time with flatware to get to learn markings.

I only do this a day in advance, too worried spot will fall.

[artalien]

Victory thanks to @stefffana video you want is "Below spot VICTORY". Just my wee channel.

https://youtube.com/@silversaved

Gotta celebrate as it's my first below spot.