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Thread: How to sell large amounts of bullion

  1. #11

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    If you live in CA I have two guys I can refer you too that will be able to buy any amount and pay cash on the spot. I'm lucky enough to have access to guys like this but if I lived in a small town with no dealers able to buy large amounts than I would send it to apmex.

  2. #12

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    There is a BST thread here... Bet the right people would love to gobble it up.
    "Compulsory altruism is none too altruistic." - me

    "All of us necessarily hold many casual opinions that are ludicrously wrong simply because life is far too short for us to think through even a small fraction of the topics that we come across." -- Julian Simon

  3. #13

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    If you sell at a loss why would you pay tax?

  4. #14
    Join Date
    Feb 2012
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    2,575

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    Quote Originally Posted by 2Birds1Stone View Post
    If you sell at a loss why would you pay tax?
    Good point. I often sell less than ten coins. I think my biggest gain from one sale was around 250 bucks. My coin guy said that is too low to really have to bother filing.

  5. #15

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    Quote Originally Posted by 97guns View Post
    ive sold off over 500oz in the past week and a half on ebay and have NETTED $22.16/oz, mostly cull dollars and mexican junk.

    i was gonna sell a MB of rounds to my dealer for .50 over spot but did much better on ebay
    Was that before or after fees? The fees on eBay (and PayPal) seem to make it problematic for me.

  6. #16
    Join Date
    May 2014
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    1,853

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    If you allow anything – and I repeat anything - out of your immediate possession at the time of sale you risk losing everything. We all know that. You don't do big sales transactions. If you need $100 you cash in a $100 -- if you need $1000 cash in a $1000 over the counter for cash in hand.

  7. #17
    Join Date
    Oct 2011
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    25,750

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    Quote Originally Posted by CookieMonster View Post
    This is just a hypothetical question and not something I am doing. Lets say at some point I would want to sell a 30K chunk of bullion. I am pretty sure the local guys can't handle the transaction. Do you send it in somewhere, take a check for payment. Just been thinking. Buy silver with cash, take possession for safety, but then comes a whole another set of problems when wanting to sell. Sure I can maybe sell 2-3K and get cash locally, but what if I want to sell a big chunk. Seems after all the steps taken to be safe, I might be at the mercy of mailing it in and hoping to get paid, or hoping a check clears. What are the best and safest alternatives?
    so so many ways......

    inct

  8. #18

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    Quote Originally Posted by 2Birds1Stone View Post
    If you sell at a loss why would you pay tax?
    The point is, you would not pay taxes. That being said, best to have the receipt of purchase that the tax man would want to see.

    Stocks, options, future contracts, etc., sold at a loss are deductible, but I understand that a bullion loss is not???
    Stacking since the late 1970's

  9. #19

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    Quote Originally Posted by ralphien View Post
    Was that before or after fees? The fees on eBay (and PayPal) seem to make it problematic for me.

    That was after the full 12.9% fee, I get no discounts and still cleared over $22/oz but you have to sell the right items and hook the right fish.

    I only sell items that will bring enough of a premium to cover the costs, i would never get any premium selling locally
    Retired in 2009 at 39 years old, what day is today

  10. #20
    Join Date
    Oct 2011
    Posts
    25,750

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    like 97 our bullion sales have been brisk, much is through ebay... picking and choosing what YOU sell or buy at theses POS"s is key for profits, by all means...plans and goals....

    geeze 97 what's a successfully, well retired ,40 something year old, selling his metals for ,now? as they are at the lowest they have been continuously since 2011.

    lol

    hope all is well, ya dont call or write much...heehe

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