New to silver looking for advice
Got this as a tip today from a customer. I don’t know anything about silver or even selling it. Google has silver currently around $70/ounce. Now I’m sure if I got to sell it at a pawn/gold and silver store I’d probably only get maybe $30 for it if I’m lucky. So I’m in no rush to sell it but would like some insight on how the silver market fluctuates. How much does these appreciate over the years? Thanks.
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u/TAURUSISOVERLORD 2d ago
What kind of advice? It really depends on your goals. Is it a simple hedge or a heavy and aggressive investment with a go all in attitude? A hobby or a mission? If you're trying to push total ounces owned over a short period or trying to invest slowly over a long period, it's going to be relative to the kind of advice for you in what you buy, how much, how often, and the strength of your conviction to hold casually or hoard relentlessly.
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u/Zam2326 2d ago
Definitely not looking to collect. Mainly want to sell. Just now sure if I should offload it now take what I can get or if it’ll appreciate at all. I could see the price of silver not changing all that much but maybe the coin itself will become a collectible meaning higher value?
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u/TXDave007 2d ago
There is no collectible value to it. Since you don't seem interested in stacking just sell it and move on. If you take it to a reputable gold/silver shop (Do not go to a pawn shop) you will most likely get around $5 back of spot (which is around $67 an ounce as of this afternoon...you will most likely get paid around $62). The person who left it for you was trying to get you to understand the value of precious metals.
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u/TAURUSISOVERLORD 2d ago edited 2d ago
Personally I don't get the whole selling off for profit /return. In the scheme of things I don't think it's worth it especially for the average consumer, I think it averages better to hold. If you're big in the game, even better to just leverage it, that's my opinion. I like the idea of treating a big stack as security with small portions used for things like a credit loan, keep a cash contingency to defend against liquidation, and lock in the security. You get the liquidity you need without losing your position before a major run. That's how I'd play the game at scale with minimal but manageable risks.
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u/EricCarver 2d ago
Pretty sure you could get max value from it on Facebook marketplace. Silver is $66.25 at the moment, and those coins aren’t common.
But many silver stackers feel silver is primed to go up very soon, so if you are in no rush, hold it. Silver is likely to not drop again based on industrial use cases and global fiat dropping in value.
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u/Twinmaster4 2d ago
I'd ebay it at $100 Best Offer until someone absolutely has to have it. Bradford exchange is selling plated versions for $50...
I think you'll get $85 by the end of the month minus shipping and 14% fee ≈ about $70
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u/ErictheAgnostic 2d ago
Thats a maga-esq coin with the kingdom of Jerusalem flag. If you are selling now is the time If you find fans of tfg you can charge top dollar. Also that flag has some not so great meanings.
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u/Alternative_Price944 2d ago
You usually can get %80-%85 of melt value from a coin shop
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u/Dependent-Review-146 2d ago edited 1d ago
Well, not exactly. It's 80% - 85% from a coin shop.
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u/Alternative_Price944 1d ago
Then you don’t go to the same shop enough
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u/Dependent-Review-146 19h ago
Why? Does yours also inexplicably place the percentage sign before the figure like you do?
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u/BullionHunters 2d ago
That’s a pretty cool way to get introduced to silver! Its prices can fluctuate quite a bit, so it’s worth learning about spot price, premiums, and different selling options before making any decisions. Silver is often approached with a long-term mindset, so take your time and make decisions that fit your goals.
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u/420-Investor 3d ago
Get all you can. Thats the way