I Tried to Sell 10,000 Silver Eagles to Coin Shops... They Said THIS!

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What would happen if you needed to SELL 5,000, or even 10,000 Silver Eagles all at once? In today's video I called Coin Shops across the U.S. and asked them if they could buy that many from me and one time... watch the video to find out what they said!
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Will Coin Shops BUY 10,000 Silver Eagles at Once? They Said THIS...
• I Tried to Sell 10,000...
#silvercoins #silvereagles #silver #coinshop

Опубликовано:

16 окт 2024

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Комментарии : 105

@jisskk28 8 часов назад

I would NEVER sell eagles,especially strapped monster boxes at spot. At least a $2-$3 premium!!

@TheQuickSilver101 7 часов назад

The mint is charging $3.05 over spot per coin for new silver Eagles so I think selling at $2 over an ounce is pretty fair

@Teacher-1388 День назад

Awesome to all the shops but number 3.

@tymcfadden8496 День назад

I wouldn't go anywhere near shop 3.

@ItsEverythingElse 7 часов назад

They didn't say you would have to leave the silver, they just wanted a contract.

@ColtonJohnsonBrice09 8 часов назад

In my neck of the woods my dealer is able to do transactions of American metals in cash up to 80K, I just give him a days notice and would never to a deal with a check. Once you deposit a check you're leaving a trail of troubles because banks now will close your account since you're dealing with coin shops. My bank says not all but most coin shops launder money for people, so, as they say, cash is king. Please do more calls like this👍👍👍

@KH0RIUM 7 часов назад

Gold atm is $2,674 😯 Imagine asking to sell monster boxes of them, they would probably just sell you the business, lol. Wish you would try it for a laugh. 😂

@TheQuickSilver101 7 часов назад

Spot (or less) for strapped boxes of silver Eagles is rather insulting. The US Mint is selling 2024 Eagles for spot plus $3.05 so offering that little feels underhanded. Maybe that's just me, idk

@TheMagache 3 часа назад

Is that the wholesale price to vendors or to individuals?

@TheQuickSilver101 2 часа назад

@@TheMagache That's the wholesale price to the Authorized purchasers so that's the starting point for pricing from the US Mint. Individuals can only purchase proof coins and sets with the business strike Eagles included and those are incredibly expensive

@TheMagache 2 часа назад

@@TheQuickSilver101 They probably have minimum purchase requirements too. No reason why they can't buy for the almost the same price from a customer if the coins are untouched and still sealed.

@danwebb755 6 часов назад

These 'shop calls' are very informative. Thank you.

@jaynawilliams8923 6 часов назад

I asked my dealer if I walked into his shop with 30 gold Krugerrands, would he buy them. He said yes, but he asked for a 3 day advance notice. I thought that was reasonable. I asked him, what if gold goes to $5,000 and ounce Could you do it then? he said yes he could. I asked him how he could do that and he said that he is buying and selling them on the way up and down. So he would have the cash. No problem. That is why I buy from my dealer because I want to have that relationship for this reason.

@jazznik2 8 часов назад

I dont know which shops you called but I'm surprised that all of them said they could handle 5000 eagles at a time. That's $158,300 at the closing spot silver price today.

@danutebahena179 6 часов назад

Many coin shops have a large line of credit. The coin shop owner calls the.president/manager of the bank and asks for additional funds be placed into their checking accounts. This has been occurring in business for centuries. Of course the bank gets a piece of the pie also.

@jake8077 4 часа назад

@@danutebahena179 Pie is good. Here in Florida, my banker insists on Key Lime Pie

@papamiller13 23 минуты назад

My wife thinks I’m nuts for wanting to convert some of our cash to silver. This was super helpful to prove to her that it’s not that hard to convert back to cash when we need to.

@dantomlinson4407 3 часа назад

Never leave your coins without payment!

@Revenant_Dancer День назад

I feel like I wish I’d been stacking longer 😮😊

@JorgeVazquez-ru6co 2 часа назад

I would never leave without cash in hand

@Revenant_Dancer День назад

Good content thanks

@ItsEverythingElse 7 часов назад

This is dumb since you'd be exceeding the $10k rule.

@DanCooper404 6 часов назад

Unless he sold them for 99 cents apiece.

@shufflesilver 6 часов назад

Read up on 10k rule, only applies to cash and cash instruments, so no it does not apply to this situation.

@andrewenglish3486 5 часов назад

As long as he is willing to pay taxes, no issue...

@bulacano3014 5 часов назад

@@shufflesilver CPA here - 1099-B is not required since they are ASEs. However, depositing a check for over $10k would trigger form 8300 reporting.

@shufflesilver 4 часа назад

@@bulacano3014if you are a CPA then you should dig into this... you are incorrect, go look at the IRS guidelines, a check is not a cash instrument. A cashier's check is and so is a money order. But with a check, no 8300 form necessary.

@bartlomiej.m 30 минут назад

Greetings guys!!! Watching a SilverDragons in Poland:))) Little comment on shop#3. For well established coinshop this is something that would occur in Poland. For bigger amount of gold/silver sold we do NOT get cheque. Some shops can pay in cash but expect 1-2 advance notice. Limited would pay a lot in cash. In majority we are getting bank transfers ( they take 1-2days typically, but usually 2-5 working days). I sold 10oz Au and 5oz Pt... and got bank transfer in 24hrs. Then in another coinshop sold 40x 1/10 Au plus some historical 10francs + jewelery... money got in 5-6 working days. Would say that dealers/coinshops in Poland would take easily almost "all you got"... but only gold. For silver they are quite chosy, they tend to pay less for scratched bullion, milkspots, untypical coins. but AMERICAN EAGLES are the most expensive ones to buy... 12% over spot on average (!)

@treyw1171 7 часов назад

Great video. Its a practical concern for bigger stackers, especially those of us that never plan to sell unless we have to.

@982spyder5 8 часов назад

Wire transfer, no checks!

@mikeleverenz9949 7 часов назад

#3 seemed a little sketchy

@ezal3634 6 часов назад

I was impressed that every shop said yes , even shop number 3, restores my faith in lcs's. :)

@jimthompson9992 7 часов назад

Shop #3.....not just no but OH HELL NO!!!

@paskillmaster 6 часов назад

Neat sample here Seek! Appreciate the info

@mikehoffy5765 7 часов назад

No way! Shop 3 is going to move the coins before they pay u.

@HillbillyStacks 8 часов назад

If I was somebody sitting on Call contracts, I'd be scrambling to ditch those, things are obviously headed downhill from here, bullish bias in people's decisions WILL get them into financial turmoil

@BoosterBrad 5 часов назад

Was in a coin shop and a guy walked in with 60 krugerrand’s and many tubes of eagles that had been left to him by an uncle. Shop was nervous but bought it all but turned around and instantly sold them to a wholesaler minutes after the deal went through. Guy said he was paying off his house…..uncle had bought them around $350 an oz.

@SW-rb9cr 5 часов назад

Hell to the Naw. I'm not leaving anything.

@Wyominggoldbug 6 часов назад

Shop 3 is a hard no!

@jackyack7850 Час назад

In regards to number 3, he didn’t ask you to “leave” anything. He said they would set up a contract and get you the funds in a couple days. In other words, set the price and then transfer you the funds. Are you shocked that they don’t have $150k plus sitting in their checking account? Take your boxes and open up your own shop since you know so well.

@danavipuzzles7308 Час назад

With those kind of numbers it would make more sense to stack gold. You can hold the value of 10 monster boxes of Silver Eagles in just 6 rolls of Gold Eagles. Next time you can call around and ask if they would buy a monster box of Gold Eagles.

@Eric-pm2js 43 минуты назад

I enjoy what you do and I surely do appreciate what you do thank you and I became a stacker to

@bradleyozbun1012 3 часа назад

💯 to you sliver seeker !! I bet you could sell the. To the silver community out here !!!! Especially if you sell them at spot or 2 bucks over .

@SirAlford 7 часов назад

Should have COLD CALLED SKIP!

@bradleyozbun1012 3 часа назад

💯 Hell no !! I wouldn't leave them with a shop !!! They wouldn't let you leave with the. Till you paid for them !!! No, no, no !!! Cash and carry my boi !!! 💯

@patrickjoseph6 3 часа назад

I would definitely not leave coins with store #3

@walterford5875 5 часов назад

So we have bought "on contract", but we always pay more on it. We would send it into our wholesaler, they ACH the payment to us and we cut the customer a check. We've never had a customer say no. Yet.

@JamesBond-st4qu 5 часов назад

Shop three is fine if you sign the contract, return home with your silver and go back to shop to do the exchange.

@arkangel3231 3 часа назад

LOL JUST LEAVE YOUR SILVER HEAR . THE CHECK IS IN THE MAIL 👍

@oliver882k 3 часа назад

They might think you are trying to case the joint with those kind of questions the way you are asking them.

@BlizzardPeak 6 часов назад

Cool video! Imagine actually owning 5,000 Silver Eagles, would be crazy! Anyway, hope you have a great day Silver Seeker, God bless :) John 3:16 p.s I think it would be cool if you retried this but instead call about a box of Gold Eagles. Just an idea. Anyway, take care!

@teohsoonkeat3058 2 часа назад

They need silver bars...not silver coins.....

@44Mag Час назад

I plan to sell a load of ASE's once they bring $35 each. My LCS is only at $1.50 over spot right now on Eagles. If I did not know the dealer and trust them, I would not let them sell on consignment - heck, I wouldn't even accept a check for that amount, if I did not know and trust them. I would sell them to multiple dealers, or sell them 1 box at a time for cash, every few days. (My LCS will pay cash if you let him know the day before. I know for sure he has done $50k cash transactions in the past, but a person is better to take a check on an amount that large. Most banks will have a problem if you try to deposit $150k in cash. I have no problem keeping that value in metals at home, but I would never want that kind of cash on hand since it could be lost in a fire and it would limit how you could use it for large cost items you wanted to buy.)

@robertlivingston5175 5 часов назад

You have to plan ahead for that kind of transaction. Try pulling $50,000 out of the bank. They'll tell you it's going to take some time. Days actually.

@brianhagler4490 5 часов назад

Shop #4 seemed like YOU were wasting his time…I can’t stand condescending people, especially when you are calling them for business.

@JackCaldwell-z7f 5 часов назад

I won’t leave that much money there in Silver Eagles!

@chiaking2787 6 часов назад

Shop 3 Hell no

@troyb.4101 4 часа назад

I would only leave with a cashiers check from a local bank, an verify the check is good.

@troyb.4101 4 часа назад

Cash would be even better.

@MINDSPARK-u6e 4 часа назад

_You can get 116 gold buffalo coins for all of that silver if gold jumps even 1% you’re looking at $3,100 growth in a day; hopefully nobody stupid enough to try to sell all that amount of silver for a devaluing fiat debt currency_

@Everything-Street-Outlaws-NPK 4 часа назад

Man. I can’t even sell MS69 NGC and PCGS eagles for spot.

@Scott-Lindell 7 часов назад

I know a strapped box is worth more but I would think replicating/replacing a strap would be pretty easy?

@JackalopeHerdmaster 6 часов назад

How about doing a video where you call incognito like you usually do but later on, call again and let them know who you are. I'm curious to see if them knowing who you are changes anything.

@jaynawilliams8923 5 часов назад

If they asked me to leave it with them, I would say, well I can't do that, but, what if I give you three days notice, would that be Ok? But, I have already spoke with my dealer about this scenario. I just hope they will be open. .

@_LAND_OF_THE_FREE_ 8 часов назад

I would absolutely not leave my boxes with any dealer and wait for money. I would have to bring my lawyer in on that 😂.

@t.a.b. 6 часов назад

Ill pay 3 under stop in kcmo

@Delasernafamily 4 часа назад

Mind coin shop guy, I said no. He would not take that many coins. Have one time to avoid doing any paperwork. That's taking care of me to You know.

@lenhua1947 Час назад

will they give us a fake check meaning without money in the bank?

@backlash1258 8 часов назад

Dealers don't want to buy anything that hasn't got a high premium. If they buy your bars and rounds. They are just being nice.

@jisskk28 8 часов назад

You must be in the boonies😂😂

@backlash1258 7 часов назад

@jisskk28 Yes, the boonies. No crime or illegal immigrants. Low taxes,no rent, and lowest gasoline in the country. I'll take that.

@Blue_Siberian 5 часов назад

can a petson sell directly to a wholesaler ?

@francisdahar6030 4 часа назад

No I would not leave my coins. You didn't ask them what they would pay

@SherylOrcutt-ud9sj 7 часов назад

No I wouldn't leave it without getting paid

@adamskove 5 часов назад

Was shop 3 in India?

@KN0852 8 часов назад

I'm new to investing, and I've lost a good sum trying out strategies I found in online tutorials. I would sincerely appreciate any recommendations you have.

@Scott-qwer 8 часов назад

As a beginner, it's essential for you to have a pro or a very good trader to keep you accountable.

@Scott-qwer 8 часов назад

Someone like expert Melanie Ann Karnavas

@KN0852 8 часов назад

I've seen this name before and I'm now interested. Could you let me know how I can reach her?

@Kelvin-rw4kb 8 часов назад

The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional

@Cindy-sy8fw 8 часов назад

Yes, I agree with you. Her platform is wonderful and her strategies are exceptional.

@ralphangelo3249 7 часов назад

Take a pass on that one

@Blue_Siberian 5 часов назад

2 and 3 are a NO

@gregorygibson5455 5 часов назад

Hello Silver Seeker

@justxgrim Час назад

Shop 3 💀

@NickelNationCoinsMore День назад

👍

@JohnnyCollins-cv4gx 7 часов назад

yeah sell it

@charleswilson6789 7 часов назад

Send me 5000 eagles I'll pay u next week

@Eric-pm2js 48 минут назад

Three no

@coolvideos777 3 часа назад

.....what is the purpose of this video please😊

@SilverSeeker 3 часа назад

To show stackers that you CAN in fact move large amounts of Silver at once... I thought that was clear, my bad.

@coolvideos777 3 часа назад

@SilverSeeker all good, thanks🙂

@MrGreenstar2012 7 часов назад

🐒

@davidweinberg7833 4 часа назад

Just calling around waisting people's time..

@SilverSeeker 4 часа назад

Dude shop... I told them I am just asking and am not doing right now, they still answered nicely anyway. Wanna know why? Because this is what they do, it's part of the business. Almost ALL coin shop owners I talk to that know what I do are not only okay with it, but they approve of it. It's alot of valuable information for the community... Move on and have a nice day.

@KenMazel 2 часа назад

@@SilverSeekerHey seeker don’t sweat the trolls, you were straight up honest about it just being a question. How else would anyone learn what the current vibe is with the shops in general. I found your video educational.

@MINDSPARK-u6e 4 часа назад