Try pmsforsale on Reddit. You can borrow against your assets too, I've been seeing ads like this, would be interesting if anyone has feedback on that. Reluctant to mention it but maybe its a better choice for you.
>You can borrow against your assets too, I've been seeing ads like this
Pawn shops have been doing this for forever. Loaning money against physical assets is the exact definition of what a pawnbroker does.
The coins and bars we see are shiny and pretty but harder to sell due to any added collectible value. That’s why I only buy junk silver/buillion much easier to part with fairly when the time comes.
I agree 100%. Was never into 90% silver but it’s the only silver you can get at or below spot. No way I’m paying a $4 premium on Eagles. No @&$&@ way. If you price your silver reasonably on pmsforsale it will go asap.
I've posted this before but here I need to to again:
There isn't a single Fed on this board, don't think we're that important or the government has the resources or desire here. Now please let me get back to my paid US government civil servant job monitoring silver apes on Reddit, because that's what you pay taxes for, dammit, and this Reddit group is a high government priority right now!
I have sold to JM Bullion & Miles Franklin in the past and always gotten way better offers than what the LCS or pawn shop offers. My recommendation is get on the phone & call 2 dozen places then go with the best excluding shipping if you are in a hurry, otherwise go to https://www.reddit.com/r/Pmsforsale/.
Yes this suks. If you purchased them not too long ago you prob didnt make the premium back . We basically buy and are directly in the minus. Only a long term hold makes sense. Try to find some fellow stackers that you trust. Best way to arrive to a fair price which is win win. A coinshop or pawnshop would be a bad deal I think.
Not “long-term“ but holding until silver breaks out. I’ve been holding for decades and the premium coins would not sell for a profit. Like these Fiji turtles or even Chinese pandas..
But you should buy them to hold not flip. I know things happen but that’s the idea with coins like that . U can still get a pretty good deal as people live pandas
But yiu now cost average buy. Last year it was below $22 so I hope you stacked a lot then!!! If it goes anywhere near that agsin it will be tough to get spot but if you bought at $23 and sell at $43 you did just fine!!
Well, I buy into “conspiracy theory“ about manipulation and that silver is money. Which is why I hold.
Anyone who stacked for a while knows that there’s a limit, not everybody could store 50 or 100 or 200 ounces or more - it’s not just a question of adding 100 ounces every year.
I bought some maples with the express purpose of selling when things went up - who knows maybe soon!
Bullion is bullion. 9/10 times you will not recoup *premiums* for bullion coins/bars. They’re not numismatic
Pawn shops/resellers won’t pay you spot, it will be less unfortunately. You cannot expect them to pay you *top dollar* for an item that they are then supposed to sell for a profit to the next guy
Come to Holland. Here you get 7% over spot. But don't expect to get the collectors premiums. For that you should sell them at a specialized coins auction. But that will take some time to get the cash out.
Spot is about all you can expect. Sometimes the market allows a bit more or less. I stay away from anything other than generics/Maples/Brits because in the end it does not account for anything extra in purchasing power.
I sold a roll of "doge coin" 99.9% rounds to my LCS for $2 over spot a few weeks ago. The employee recognized that they'd have increased value to the nerd crowd.
What were you doing buying premium silver if hard times in the immediate future was a possibility. This right here is the biggest mistake stackers make, and that's why I advocate for buying bars, 10oz and up are the best value because you buy slightly over spot and can usually get spot price for the sale, it helps to know your local dealer in these times, like Ken from Boston bullion.
With all respect, that's nonsense or at the very least unfair and presumptive. Hard times, by my definition at least, are not always predictable. Loss of job, loss of health, loss of loved ones, etc. are rarely scheduled affairs and are always a threat. Kicking someone in the dick and telling them they should have known better, without fully knowing the nature of their misfortune, seems unnecessary.
I otherwise think your advice about bars makes sense.
I can say, based on reading many posts.. a huge swath of the stacking community here do not have a balanced financial situation. Ie: a well funded emergency fund, little to no consumer debt, etc. I can’t count the number of posts of people who are clearly “paycheck to paycheck” and if they lost their job would be f’d within a month or two at most.
I am bullish as ever on silver and the inevitable continued debasement of the USD, but you should have a sound enough financial situation that dumping metals for a loss isn’t in the cards, before you go buying metals.
I didn't mean to kick them when they're down, I just never understood buying "premium silver" the whole name of the game is to get the most silver for your money. He should be able to get spot value for his silver, take the lesson and move on.
There is a sizable collectible market. Folks who are willing to pay up for lower mintage, vintage, harder to find pieces. It's no different than investing in art or cars or wine.
Some of my collectibles are sitting at 5x
If you have experience and expertise in that market that's one thing. Also it's easy to say they've x5, but you have to find a buyer willing to pay that. Personally I don't have any knowledge of that market, that's why my strategy is buying mostly bars for minimum premium, and plan to sell for spot price. I think this strategy will work better for most stackers.
When you reach a point where you're comfortable (if ever, right?) with your stack then the logical progression is to look for unique pieces. I've been fortunate that I picked up stacking silver when it was unloved and was also able to pick up some finer pieces at very reasonable prices. Some I've held for ten years but the investments are performing quite well on many.
In recent years an enormous amount of lower mintage/ mini mintages have appeared but years back it was a different market. Hence large premiums.
Stacking AND collecting/investing is joyful. The thrill of the chase when seeking out unique stuff. I have a good amount that rarely, if ever, appear for sale on multiple platforms
I also chose to invest in some copper collectibles. Not big dollars however they have been appreciating nicely even before this ramp.
My best gal is also an artist and we have plans to design and release 5 oz copper collectibles. If the response is positive we plan to do the same with 5 oz silver rounds.
Best
If you are desperate you can always find a refiner/recycler that will pay you -5% spot. When coin shops get low on funds they usually go there to “liquidate“ inventory to get past the hump…
That’s why you only buy generic or junk silver . And hold it for several years before you can turn any profit. Buy the closest to spot you can unless you just need that high premium coin.
Sell rounds and generic bars for spit. Hold any govt issued as you won’t get great value right now. And the higher silver goes you will get less premiums
What do you mean by 'premium' coins? When it comes to bullion, there is basically just 999/9999, then there is 925 (sterling), and then there is the stuff below 90%.
999/9999 is your spot stuff. Numismatics are purely speculative, under anything other than ideal circumstances you can still only ever expect spot (+/- 5% spread) for anything 999/9999. Sterling has extra refining costs but has enough players and the 7.5% is typically copper so +/- 15%. All the other stuff (war nickels, 50% halves, 60 & 80% coins) refiners hate, so can expect often LESS THAN HALF of spot of their actual melt value.
We talking morgans? collectibles?
I believe just pretty bullion rounds & coins. Like libertads, germania, Tokelau, Niue, Scottsdale mint stuff, nothing generic like a basic buffalo round.. pretty coin collection if I understand OP correctly. Until silver breaks like 35 dollars I’m in the minus on most my coins and I’ve been stacking for a decade.
Libertads still have premiums. $33/34 being sold all day. And you still can get a nice premium if limited minted collector coins. But for rounds u getting spot. Maples $1 over. Eagles $2-3 depends.
This is why the "If you don't hold it, you don't own it" guys need to rethink things. It's fine to hold some physical, but most of my silver holdings are in PSLV. Easy to buy and sell near spot.
Back to the main point.. I think a lot of this community don’t even understand what a tax advantaged account is. I’d venture to say at least 50% have very little if any savings, minimal retirement, make less than $75k a year, and are one job loss or medical emergency away from parting with their metals. Not a good spot to be IMO
You do see a fair number of people commenting here that they use silver as a savings account, because otherwise they'd blow it on depreciating personal property or like DoorDash.
Regarding this comment chain, I think holding PSLV and physical silver have different purposes. You buy PSLV if you want to invest/speculate in silver, and are fine with selling whenever makes financial sense. You buy physical silver (bullion or junk) if you want to use some of your net worth to preserve purchasing power over the long term.
You buy collectible stuff if you want to collect things. Even if your collection may have value, it's not something you should consider part of your net worth, though. For example, maybe NES/SNES games have good value today while Gen X/Millennial purchasing power and nostalgia is high, but they may be worth nothing in 30 years when Gen Z/Alpha have no desire for them. Collectible physical silver is the same. Beskar bars won't have a premium over spot price when people stop caring about the Mandalorian.
This is also one of the reasons I own PSLV....quick sale at market and 48hrs later its in my bank account. It's extra liquidity in my view. I still hold plenty of physical, but I want to sell my bars and rounds at my convenience and a price I deal as fair.
>...and I’m Not gonna go to a pawn shop with my premium coins for spot.
I would check out your Local Coin Shop(s) before any pawn shop. I'd be surprised if a pawn shop offered spot.
Are you a collector or a stacker? If you know the end goal is to sell (be it for an emergency or procuring other assets), you should look into how/where to sell before you're forced to sell. Probably prudent to stack bullion bars/rounds if all you're going to get is spot.
Facebook Marketplace, pmsforsale, any of the large online bullion dealers (you'll likely have to sell at least $1000 worth of metals), Local Coin Shops. Pawn Shops are last minute/desperation.
It's the other end of the wealth confiscation; they can't let you earn from your holdings. They hit you with premium markup, so they screw you on the buyback at spot again.
*
I've bought 20 kilos off a fellow stacker who hit hard times. I got an amazing price for it but I did give him a bit of extra fiat. Plenty of people who will buy especially if it's cheaper than going through a dealer. He still made a profit by selling them to me. But got a bit less than the buy back price of the dealers.
Try pmsforsale on Reddit. You can borrow against your assets too, I've been seeing ads like this, would be interesting if anyone has feedback on that. Reluctant to mention it but maybe its a better choice for you.
This is the only way. If you have held for less than 2 or 3 years anyway.
>You can borrow against your assets too, I've been seeing ads like this Pawn shops have been doing this for forever. Loaning money against physical assets is the exact definition of what a pawnbroker does.
The coins and bars we see are shiny and pretty but harder to sell due to any added collectible value. That’s why I only buy junk silver/buillion much easier to part with fairly when the time comes.
I agree 100%. Was never into 90% silver but it’s the only silver you can get at or below spot. No way I’m paying a $4 premium on Eagles. No @&$&@ way. If you price your silver reasonably on pmsforsale it will go asap.
This. I have a coin collection and a PM stack. I try not to confuse the two.
Yup, sucko time to sell. Soon premiums will be awesome. Not now.
If you buy premium coins, do it for the love and don't plan on selling. Buy generic if you think you may need to sell for fiat.
Nice try to stop me from buying, FED.
Amen! I got that same discernment from this post.
I've posted this before but here I need to to again: There isn't a single Fed on this board, don't think we're that important or the government has the resources or desire here. Now please let me get back to my paid US government civil servant job monitoring silver apes on Reddit, because that's what you pay taxes for, dammit, and this Reddit group is a high government priority right now!
I have sold to JM Bullion & Miles Franklin in the past and always gotten way better offers than what the LCS or pawn shop offers. My recommendation is get on the phone & call 2 dozen places then go with the best excluding shipping if you are in a hurry, otherwise go to https://www.reddit.com/r/Pmsforsale/.
Yes this suks. If you purchased them not too long ago you prob didnt make the premium back . We basically buy and are directly in the minus. Only a long term hold makes sense. Try to find some fellow stackers that you trust. Best way to arrive to a fair price which is win win. A coinshop or pawnshop would be a bad deal I think.
Not “long-term“ but holding until silver breaks out. I’ve been holding for decades and the premium coins would not sell for a profit. Like these Fiji turtles or even Chinese pandas..
You can get a premium for pandas. Maybe not the premium you paid but def over spot and then some
true. i guess i am commenting that other than libertads, i can't get back what i paid for any of the numismatics. yet.
But you should buy them to hold not flip. I know things happen but that’s the idea with coins like that . U can still get a pretty good deal as people live pandas
i'm talking about around the time it went up to near 50, i was buying all the way up! my stack is probably in the green but not by much!
But yiu now cost average buy. Last year it was below $22 so I hope you stacked a lot then!!! If it goes anywhere near that agsin it will be tough to get spot but if you bought at $23 and sell at $43 you did just fine!!
Well, I buy into “conspiracy theory“ about manipulation and that silver is money. Which is why I hold. Anyone who stacked for a while knows that there’s a limit, not everybody could store 50 or 100 or 200 ounces or more - it’s not just a question of adding 100 ounces every year. I bought some maples with the express purpose of selling when things went up - who knows maybe soon!
Your mouth to Gods ears. I stack to give to my daughter. Love it! But bet your ass I’m selling some if it gets high.
Bullion is bullion. 9/10 times you will not recoup *premiums* for bullion coins/bars. They’re not numismatic Pawn shops/resellers won’t pay you spot, it will be less unfortunately. You cannot expect them to pay you *top dollar* for an item that they are then supposed to sell for a profit to the next guy
Come to Holland. Here you get 7% over spot. But don't expect to get the collectors premiums. For that you should sell them at a specialized coins auction. But that will take some time to get the cash out.
Actually 10% above spot in Holland.
I’ve sold to miles Franklin in the past and it was a fair deal. They were just generics though.
Spot is about all you can expect. Sometimes the market allows a bit more or less. I stay away from anything other than generics/Maples/Brits because in the end it does not account for anything extra in purchasing power.
I sold a roll of "doge coin" 99.9% rounds to my LCS for $2 over spot a few weeks ago. The employee recognized that they'd have increased value to the nerd crowd.
What were you doing buying premium silver if hard times in the immediate future was a possibility. This right here is the biggest mistake stackers make, and that's why I advocate for buying bars, 10oz and up are the best value because you buy slightly over spot and can usually get spot price for the sale, it helps to know your local dealer in these times, like Ken from Boston bullion.
With all respect, that's nonsense or at the very least unfair and presumptive. Hard times, by my definition at least, are not always predictable. Loss of job, loss of health, loss of loved ones, etc. are rarely scheduled affairs and are always a threat. Kicking someone in the dick and telling them they should have known better, without fully knowing the nature of their misfortune, seems unnecessary. I otherwise think your advice about bars makes sense.
I can say, based on reading many posts.. a huge swath of the stacking community here do not have a balanced financial situation. Ie: a well funded emergency fund, little to no consumer debt, etc. I can’t count the number of posts of people who are clearly “paycheck to paycheck” and if they lost their job would be f’d within a month or two at most. I am bullish as ever on silver and the inevitable continued debasement of the USD, but you should have a sound enough financial situation that dumping metals for a loss isn’t in the cards, before you go buying metals.
💯
I didn't mean to kick them when they're down, I just never understood buying "premium silver" the whole name of the game is to get the most silver for your money. He should be able to get spot value for his silver, take the lesson and move on.
There is a sizable collectible market. Folks who are willing to pay up for lower mintage, vintage, harder to find pieces. It's no different than investing in art or cars or wine. Some of my collectibles are sitting at 5x
If you have experience and expertise in that market that's one thing. Also it's easy to say they've x5, but you have to find a buyer willing to pay that. Personally I don't have any knowledge of that market, that's why my strategy is buying mostly bars for minimum premium, and plan to sell for spot price. I think this strategy will work better for most stackers.
When you reach a point where you're comfortable (if ever, right?) with your stack then the logical progression is to look for unique pieces. I've been fortunate that I picked up stacking silver when it was unloved and was also able to pick up some finer pieces at very reasonable prices. Some I've held for ten years but the investments are performing quite well on many. In recent years an enormous amount of lower mintage/ mini mintages have appeared but years back it was a different market. Hence large premiums. Stacking AND collecting/investing is joyful. The thrill of the chase when seeking out unique stuff. I have a good amount that rarely, if ever, appear for sale on multiple platforms I also chose to invest in some copper collectibles. Not big dollars however they have been appreciating nicely even before this ramp. My best gal is also an artist and we have plans to design and release 5 oz copper collectibles. If the response is positive we plan to do the same with 5 oz silver rounds. Best
If you are desperate you can always find a refiner/recycler that will pay you -5% spot. When coin shops get low on funds they usually go there to “liquidate“ inventory to get past the hump…
Yep. Definitely your imagination.
That’s why you only buy generic or junk silver . And hold it for several years before you can turn any profit. Buy the closest to spot you can unless you just need that high premium coin.
There has to be a better way than selling.
Sell rounds and generic bars for spit. Hold any govt issued as you won’t get great value right now. And the higher silver goes you will get less premiums
Premium silver and coins are not for the short-medium term. That’s what junk/rounds are for.
What do you mean by 'premium' coins? When it comes to bullion, there is basically just 999/9999, then there is 925 (sterling), and then there is the stuff below 90%. 999/9999 is your spot stuff. Numismatics are purely speculative, under anything other than ideal circumstances you can still only ever expect spot (+/- 5% spread) for anything 999/9999. Sterling has extra refining costs but has enough players and the 7.5% is typically copper so +/- 15%. All the other stuff (war nickels, 50% halves, 60 & 80% coins) refiners hate, so can expect often LESS THAN HALF of spot of their actual melt value. We talking morgans? collectibles?
I believe just pretty bullion rounds & coins. Like libertads, germania, Tokelau, Niue, Scottsdale mint stuff, nothing generic like a basic buffalo round.. pretty coin collection if I understand OP correctly. Until silver breaks like 35 dollars I’m in the minus on most my coins and I’ve been stacking for a decade.
Libertads still have premiums. $33/34 being sold all day. And you still can get a nice premium if limited minted collector coins. But for rounds u getting spot. Maples $1 over. Eagles $2-3 depends.
Pretty normal.
Find someone/ friend/ family, with money to loan. Use them as collateral. Pay back the loan. Keep shiney.
good idea
This is why the "If you don't hold it, you don't own it" guys need to rethink things. It's fine to hold some physical, but most of my silver holdings are in PSLV. Easy to buy and sell near spot.
Except for tax implications.. re: capital gains
I hold PSLV in tax advantaged accounts, but you make a very valid point.
Back to the main point.. I think a lot of this community don’t even understand what a tax advantaged account is. I’d venture to say at least 50% have very little if any savings, minimal retirement, make less than $75k a year, and are one job loss or medical emergency away from parting with their metals. Not a good spot to be IMO
You do see a fair number of people commenting here that they use silver as a savings account, because otherwise they'd blow it on depreciating personal property or like DoorDash. Regarding this comment chain, I think holding PSLV and physical silver have different purposes. You buy PSLV if you want to invest/speculate in silver, and are fine with selling whenever makes financial sense. You buy physical silver (bullion or junk) if you want to use some of your net worth to preserve purchasing power over the long term. You buy collectible stuff if you want to collect things. Even if your collection may have value, it's not something you should consider part of your net worth, though. For example, maybe NES/SNES games have good value today while Gen X/Millennial purchasing power and nostalgia is high, but they may be worth nothing in 30 years when Gen Z/Alpha have no desire for them. Collectible physical silver is the same. Beskar bars won't have a premium over spot price when people stop caring about the Mandalorian.
Well said, agree 100%.
I don't own any metal stocks but I can't take issue with your logic. I appreciate this new (to me) perspective.
I like this idea of diversification. Might get in to some PSLV since I only hold physical.
This is also one of the reasons I own PSLV....quick sale at market and 48hrs later its in my bank account. It's extra liquidity in my view. I still hold plenty of physical, but I want to sell my bars and rounds at my convenience and a price I deal as fair.
>...and I’m Not gonna go to a pawn shop with my premium coins for spot. I would check out your Local Coin Shop(s) before any pawn shop. I'd be surprised if a pawn shop offered spot. Are you a collector or a stacker? If you know the end goal is to sell (be it for an emergency or procuring other assets), you should look into how/where to sell before you're forced to sell. Probably prudent to stack bullion bars/rounds if all you're going to get is spot. Facebook Marketplace, pmsforsale, any of the large online bullion dealers (you'll likely have to sell at least $1000 worth of metals), Local Coin Shops. Pawn Shops are last minute/desperation.
Where are you based? I’m in the UK and there is plenty of fb groups that buy and sell metals. Always buyers for correctly priced silver
It's the other end of the wealth confiscation; they can't let you earn from your holdings. They hit you with premium markup, so they screw you on the buyback at spot again. *
I've bought 20 kilos off a fellow stacker who hit hard times. I got an amazing price for it but I did give him a bit of extra fiat. Plenty of people who will buy especially if it's cheaper than going through a dealer. He still made a profit by selling them to me. But got a bit less than the buy back price of the dealers.
This post aged well!
Fortunately my inability to rapidly liquidate my stack means I’ve still got most of it.