Where is a good place to SELL your silver? How would one sell without internet recordings (gov't), and fees taken out (EBAY). I'm thinking of buying silver as an inflation hedge for both of my boy's ( 4 and 7 ) education. While it might be a few years before I start to cost dollar average the investment, I haven't seen any articles pertaining to turning the silver back into fiat currency. Comments are welcomed!!!
Keep Right On Prepping - K
K...this is why I haven't invested in any precious metals. If there were an emergency, how would one get the money without losing?...I hope you get a good answer to your question.
ReplyDeleteI hope so too. There are a lot of smarter people on the internet than me, but I haven't figured out how uninvest from precious metals. Bartering and precious metals is about all you hear about in the prepper community.
DeleteI keep listings of local people or companies where I can buy or sell silver or other precious metals. Silver is used, and in fact consumed by many industrial processes, and so it's presence of Earth is more finite than the metals, like gold which can be salvaged, for the most part from industrial use.
ReplyDeleteIn each region who offers the most when it's time to sell, varies. This is why I tend to cultivate small businesses who specialize in coins and precious metals. For a time, there were an abundance of metals sold here, and fewer good opportunities to sell to coin dealers, jewelers, etc. Then for a time, I knew a number of great places to sell and few to buy. This is something which changes, a lot like realtors, in an area. Generally, a pawn shop is not often a good place to buy or to sell coins or precious metals. A.) It's not a good place to sell because they often sell so many things that they don't really know the value of coinage and silver, and tend to undervalue. B.) It may not be a good place to buy because of the same thing. They lack the familiarity to charge a good price, and aren't even familiar with the spot price of silver or gold which shifts almost hourly.
At this snapshot in time, the most trustworthy and highest paying small company I know for divesting yourself of silver is www.jcsgold.com They are a 50 year business with two bricks and mortar branches, run by a large and well informed family. They are honest.
Thank you for the answer. I've always thought pawn shops were a bad place to do business, except to buy at low prices. I'll have to make my own local list when the time comes to start buying, then selling silver for the boys education.
DeleteI would start asking around at the businesses that you use, not looking for new places.
ReplyDeleteGo to the gun store where you buy ammo; would they take silver coins instead of dollar bills?
Ask your mechanic or doctor or where you buy your local preps.
This would allow you to keep your fiat currency and use it for education instead of having to convert just for that purpose.
Gold /Silver exchange businesses and jewelers are also another possibility. Look at establishing a relationship with one particular store. I know I've gotten better rates at buying because I'm in on a regular basis. I asked about selling and they said the same thing; they will deal with me on a cash basis if I sell.
Prep groups or forums like the Texas Preparedness Group might be another place.
Again, thanks for the comment. I am most impressed with the responses so far. Any other sources that might be out there?
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