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View Full Version : Selling Gold, Silver, Palladium



beneesh
11-14-2006, 02:33 PM
Not that I'm looking to sell, but I'm curious what others have planned as a cost efficient exit strategy for the following:

Gold coins
Gold bullion
Junk Silver
Palladium Maples

Also, given that junk silver is so bulky, does it make sense to have it melted down yourself and if so where would an individual invester go to do this?

Any comments would be appreciated.

Steal The Rest
11-14-2006, 02:55 PM
I think its illegal to destroy money yourself. I read somewhere only the government has the authority to melt it.


They dont consider gold or silver money. At least since the early 70's:D

danson
11-14-2006, 03:12 PM
just sell them in eBay...

you normally get something between bid and ask of the banks or coin dealers.

two tricks:
1.) long selling period. (So the chance is higher of a rally, which attracts euphoric buyers)
2.) big amounts, (min. 1kg silver or 10g gold) the more the better


BUT: Keep your PM!! Increasing worth (resp.constant worth) of PM is as certain as your death! So if you don't won't to keep them for yourself, keep them for your children.

Just look at my favorite Doom Sites!

The End of the Dollar Hegemony:
http://www.house.gov/paul/congrec/congrec2006/cr021506.htm

MONETARY EPISODES FROM HISTORY
http://www.galmarley.com/framesets/fs_monetary_history_faqs.htm

Stern Review final report
http://www.hm-treasury.gov.uk/independent_reviews/stern_review_economics_climate_change/stern_review_report.cfm

beneesh
11-14-2006, 03:12 PM
Let me state this differently....

I'm interested in this concept of investing (and I do mean investing with a long term horizon) in hard precious metals. I've bought some lately, but acquired much that I own by inheretance. On this forum and other places people discuss how they advise buying gold coins, palladium or junk silver. But what sort of strategy does anyone have for getting rid of the stuff.

I probably have 100oz of gold coins and bullion, 100 oz of sliver coins, about 10lbs of silver junk and 10 palladium maple bullion coins.

I know about buying and selling rare coins, that an item by item proposition and there are web sights, grading services and trade shows.

But what about bullion? Do the people out there that say you should by this stuff really have a strategy for getting rid of it when prices are high or when the world goes to heck.

Ok, there's ebay, but what a pain to try and sell, expecially for bulky and junk silver. And can anybody really trust you. Then there is you local coin dealer, sure, he'll by you junk silver or your palladium or whatever, but he doesn't do it for free. So for example silver is at $10, but he won't give you $10, so the price really isn't $10.

Maybe this is a question nobody can really answer, but shouldn't every investor have an exit strategy???????????

danson
11-14-2006, 03:15 PM
PS: PM isn't IRAQ! If you think before you act you don't need an exit strategy!
If your looking for a real exit strategy just put saddam back in charge!

:D

danson
11-14-2006, 03:19 PM
Let me state this differently....
But what about bullion? Do the people out there that say you should by this stuff really have a strategy for getting rid of it when prices are high or when the world goes to heck.


You really didn't get it!!
When the world goes to heck you can buy yourself some fresh water with your coins!

Don't you have Banks over there?
They usually buy everything... http://quotes.ubs.com

Krugerrand 1 oz
Krugerrand 1/2 oz
Krugerrand 1/4 oz
Krugerrand 1/10 oz
Maple Leaf 1 oz
Maple Leaf 1/2 oz
Maple Leaf 1/4 oz
Maple Leaf 1/10 oz
American Eagle 1 oz
Australian Nugget 1 oz
Britannia 1 oz
1 Pound Elizabeth II, New Sovereign
20 Francs Vreneli
20 Francs Napoleon

Tartosa
11-14-2006, 03:35 PM
.
Good advise, Yoda.....how do you say Yoda in latin. Do you think inventories and housing will bring any surprises?
.