Selling Silver at The Right Time
Any time I go to sell silver it usually ends up being on a Sunday. Saturday just gets to be too busy, so Sunday is the only chance I have at a good chunk of downtime. I've noticed that lately the downside to this is some people tend to wait until the spot market opens to see what the price will do.
I wasn't even able to sell these three rounds for $63/oz each, which is still under spot price as of publishing this post.
Sure, they're toned and have milk spots, but you won't pay under spot for silver from most coin stores even if they're culls.
It's crazy how much some people worry about $1-2/oz when spot price is high, but yet when it was under $30/oz everyone was fighting for these deals. Go figure.
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The Canadian bullion market is much smaller, combined with the higher cost of living means we rarely see spot prices anywhere at the retail other than peer to peer. I have plenty of income and investment sources to keep me afloat that I will not need to sell any bullion. I can still stack but considerably less than I used to.
!PIMP
I'm glad you're able to stack. Have you tried r/pmsforsale on Reddit? There are fewer Canadian sellers but they're out there.
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Il trade you yugioh and digimon cards for them 😅
!LOL I appreciate the offer but I'll pass.
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Much rude 🤣
Most of my dealers aren't open on Sunday. I'm hoping the prices stay low for the next couple of months so I can get my Christmas buys in. I was worried/thinking I might have to skip them this year.
Yeah, it's hard to tell what'll happen with spot, but the oil market seems to be the biggest indicator since panic there seems to cause a drop in metals.
!BBH
!PIZZA
!ALIVE
I have a feeling the oil market is going to get even crazier unfortunately!
Yeah, I wouldn't be surprised either. There's all sorts of instability going on over in the East.
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The silver buying market is very bad right now. The big boys are putting it out there that $50 silver is coming.
The funny thing is that even at $50/ounce I still don't want to buy back in. 😆
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