Why Are People SELLING Their Silver? Coin Shop Owner Tells All! 

Now could be once an a life time selling opportunity.

@@limbuel It was definatly easy to sell last December. I sold it in a local sales site and for the next week people rang daily and paid full premium for what I had.

@@Stonezster Good deal! Keep ranking in that profit.

I'm stacking for a house and look forward to the day I cash out all my metal for my home.

I did the same thing to buy an oceanfront vacation condo and in 8 years since purchase my equity has increased nearly 200 thousand dollars. The money from my precious metals sale, added to my cash made this possible. There is a time to buy and a time to sell and a time to pass it to your heirs. I still have quite a bit as I rebuilt some precious metals since then.

When I work on my estate plans, I want to be sure that my PMs go to my son, who very much appreciates the need to stack and hold PMs outside the financial system. My daughter, on the other hand, it totally oblivious to this need and would sell them ASAP to get cash to spend. Because of this, she will get more cash than he gets but he will get the metals. This will go to my wife first but she knows where I want it to go from her estate. I know that I cannot hold her to this with legal means but this is more in the realm of honoring a final wish from a beloved spouse after many years of devotion and caring. She will do as I ask with this and there really isn't any reason for her not to do this. We have more than sufficient assets to support her comfortably for the rest of her life and to pass some on to our kids and grandkids.

how much

I inherited many pounds of silver. Not life-changing money but certainly life-enhancing. I am only too happy to put it in the hands of people who will value it, but I do not want mine melted down. I’d think collectors might appreciate that.

me either, its no where near where it belongs.

Me neither. My silver feels a lot safer than the numbers in a bank account, not to mention the imminent digital conversion that will make currency obsolete. They can't do that with silver or gold

the dollar is at a 20 year high under dark brandon...go to a business channel and educate yourself. The BRIC countries are all 3rd world countries except China. Problem with china is the yuan is less than 3% of world reserves (65% for the dollar) and the Chinese do NOT let the yuan float so it will NEVER replace the dollar.

Where did you sell it back? Or where would you consider in Future?

OK, so what was the difference between PMs and fiat from your point of view?

@@edb3877 I'd like to hear this as well

​@@edb3877 Not only did the metal quickly increase in value it exchanged for cash quicker at a shop than any other item exchange or even a bank withdraw. They whipped that stuff right out with a smile.. it was then I knew what I had. I was just a kid with a few eagles but it turned out I'd timed things right on top of that. The house also quickly more than doubled in value. Sell, rinse, repeat.. If I'd banked my earnings instead of buying metal my dollars would have only lost value.

So are you getting that same feeling again? You think price is ready to head south or what?

@@wesleyt4109 No, not really. There was just something else I wanted to buy and I had a stack of rounds. I'm always on the lookout for them. Bought a bunch a few years back when the price was hovering around $15 an ounce. Since the pandemic, it seems the price is pretty stable around the $25 range for the foreseeable future. It slipped below $20 last year so I was more than happy to get $28 for them today.

Well where in at they're paying 4 dollars over spot cause of such a demand

Banks will absolutely ask why you are withdrawing large amounts of cash because they have to report it. Coin dealers are always worried about getting robbed or ripped off -- they look you over before they unlock the door etc. Being nasty is not a good way to go.

@ssl3546 Obviously your speaking of an amount I don't keep in the bank because I have never been questioned with taking out a thousand or two thousand dollars. I don't let my savings accumulate in currency that's designed to depreciate and rob everyone.

Lol say bye bye to that

Every relationship needs to be done in a way that works best for the people involved. My wife does not know how big my stack is but she does know that I have bought gold and silver for several years. I stack because neither my wife nor my daughter understand the need for stacking. A lot of what I have is for them. Maybe not to be received as metals but the asset is there for its use in case of need. My son gets it, so a good share of the metals will go to him. Unfortunately, he and his wife decided not to have any kids, so whatever he gets will not be passed down to the next generation. This complicates the situation somewhat. 😕

​@Ed B oh that's awesome and a shame at the same time 🙁

Same here, my son is the only one who knows exactly, but I have a couple of silver bars and some small gold coins on my desktop. My wife see it, but doesn’t understand what it is.

Nice to know. His shop is

Bad move with gold to ratio at 79. Stick with silver

Just imagine! We’d all be making bank

Because there's TONS of it!! Trust me my buddy lives in Arizona and he has a silver vein that is running from the mine next door and he followed it and he said its like lighting and it goes back the this mine that's not mining the silver and the vein goes for far as your eyes can see. One morning he walked his dog over a mile and followed it and it went to a massive vagina looking crack about 8 feet long and on each side of it is 10 feet wide silver vein coming from under ground it splits of 2,000 different spots and the bottom end goes onto his property. He he owns a water filtration company and he's got hige pumps to pump up water amd filters it for the locals, he's said there's MASSIVE DUMP TRUCKS FULL!! He talked to the owner about the end of the vein on his property and he was going to jack hammer it and melt some down for his family and they went on the maps and spray painted a line over the vein and he said have at it lol he said he even moved the line over a foot extra so he can have that much more to avoid any conflict and to be cool, he said he's not mining it until silver gets over $100 an oz....Colorado has a Mountain FULL of silver and the neighboring town and houses voted against leveling the mountain because there is that much silver in that mountain, they made a road into this mountain the entrance thats 40 feet wide and 10 feet tall and are mining this mountain where it doesnt get demolished, Mexico has mountains full of it!!! I own several silver and gold mines and they are lying about Silver being like 80 ounces per 1 oz of gold, I see all the drill tests!!!! Its more like 900 ounces of silver for 1 oz of Gold!!!! Gold miners are switching to mining silver because Gold bearing ground is becoming more and more rare!!!! You can download the broker Webull, it's an AMAZING broker for stock trading by the information it gives, you can go to the HUNDREDS & THOUSANDS of different mines and you click on the news tabs and you can see ALL THE DRILLING RESULTS THEY POST EVERY 3 MONTHS!!!! THE SILVER TO GOLD RATIO IS INSANE!!!! THEY WANT US BUYING SILVER AND NOT GOLD!!!!! TRUST ME BUY GOLD!!! THEY HAVE BEEN SHORTING GOLD HEAVY THE LAST 12 YEARS SINCE 2011, NO LIES!!! HOW MUCH MONEY HAVE THEY PRINTED IN THE LAST 12 YEARS??? LIKE I SAID DOWNLOAD WEBULL GO TO ANY SILVER OR GOLD MINE AND LOOK ON THE NEWS TAB THE DRILL RESULTS ARE RIGHT THERE IN ALL OF THE MINES!!! IN FACT WHEN THEY DO THESE LEECHING MINES THEY HAVE THE CHEMICALS MELT DOWN ALL THE SILVER AND GOLD DOWN INTO THE HONEY LOOKING AREA AND THEY PULL THEM OUT AND THEY ARE SOLID SILVER LOOKING MASSIVE BRICKS!!! THERE'S GOLD IN THE BRICKS AND A DECENT AMOUNT BUT ITS 90% SILVER THEY SEPERATE THE METALS ELSEWHERE!!!! I PROMISE I'M NOT LYING!!! THEY HAVE SHORTED GOLD SO HEAVY AND LET ALL THE GOLD MINERS GET AS MUCH GOLD AS THEY CAN WHERE GOLD MINERS ARE SWITCHING TO MINING SILVER AND GETTING GOLD AS A BY-PRODUCT!!! BUY GOLD AND BUY IT WHILE YOU CAN!!! GOLD WILL SOON BE A VERY RICH MANS METAL AND WE WILL ALL BE STACKING SILVER AFTER TRUST ME WE WILL HAVE PLENTY OF TIME TO STACK SILVER!!!! BUY GOLD!!!!! BUY IT ASAP!!!! YOU CAN SEE SIGN UP HERE AND YOU GET FREE SILVER THEY ARE ALL OVER! IF IT WAS RARE THEY WOULDN'T BE GIVING SILVER OUT FOR FREE!!! BUY GOLD PEEPS! SILVER STILL IS LOW FOR WHAT IT DOES, WITH THE VIRUSES AND BS WE ARE GOING TO MAKE SILVER WARE THAT'S ACTUALLY SILVER, THERE WILL BE A SILVER SPRAY THAT COATS COUNTER TOPS WITH TO KILL ANY GERMS THAT TOUCH IT, SILVER WILL BE IN VERY HIGH DEMAND STILL!!! BUT GOLD IS RARE, THEY USED IT ON TOP OF THE PYRAMIDS AND USE IT IN SPACE, GOLD IS A VERY SPECIAL METAL!!!

@@miketyson8933 both are special in their own way. as for gold, the expeditions to remove gold from the atlantic ocean are massive china has made special equipment and has yet to pull the ship wreckage gold, silver, gems and more.... theyve invested more zeros than i can remember, it wass trillions several years ago..... thye deem the shipwrecks world changing, for a reason..... found gold and silver in atlantic ocean is whos exactly?????? where was it heading, was there a promissory note for contents of the ship? interest on that ship contents???

If silver’s too high then it’s HARD to stack. And selling would be bitterSweet…

@@miketyson8933 (Homer Simpson): …”uhhggllugg, GOLD, uuhhggllluuuggg”…

From what I am seeing, ASEs have a significantly higher premium than do US 90% silver coins... about double, in fact. But I do agree that US 90% silver coins also have gone way up in premium cost compared to what they were a decade ago when I was buying them for my stack.

My junk silver and my coin collection is the only silver I wouldn't be willing to sale. Will pass it down to my kids and hopefully one day they have an interest in the history behind it.

That is definitely the best price around. You've got a friend there.

That's just as good as anyone else's opinion. 👍 I don't share that opinion but that's OK. The world is a really big place and there is plenty of room for many points of view. Thanks for posting that, though. It's good to read about what others are doing with their stacks and why they are doing it. I'd like to make a substantial gold buy sometime soon and a price pull-back would be quite helpful with that. 🙂

@@edb3877 I would wait for premiums to come down...they are ridiculous and sre the reason I was ok selling since I got some of those premiums in return

@@freeman7296 OK, thanks for the reply. I misread your original comment. I also would be tempted to sell some silver in a high-premium market, especially since most of my stack was bought when silver was $15-$16 an oz. and premiums were $2-$3 an oz.

@@edb3877 I don't think I was clear actually...the way I see it - certain types of PMs are in super HIGH demand - fractional gold eagels are selling for WAAAY higher than normal and well above spot - as is junk silver. so I checked to see what my LCS was paying given the demand - and it was pretty good - so per my original comment - I like to sell while others are buying since that is a nice return on PMs I bought at a much lower price, sellers are not too common so I'll get that good return as opposed to when EVERYONE is selling then I'll be lucky to get spot and I get my cash position back up to where I prefer to be - I think a serious credit crunch is more likely right now and cash is important... hopefully that explains my position better without writing a book.

@@edb3877 I think we accumulated at the same price...so you know what I'm saying

If you don't mind sharing what's the name of your shop or location?

@@mudfun3703 Coin Zone is the name of my shop. We are located in Muskegon, MI

👍💯🔥

Odd... I practically had the same D list .. except I had druggie.

@@paulrichards383 That works too LOL!

im hearing it should explode within 20 years.

If you can dodge a wrench you can dodge a ball.

@@wesleyt4109 😎🤘

Lots of different reasons to buy and sell at any time just like any other commodity.

Depends on the shop. Most shops I know wouldn't, but a couple would. One shop I know up in NH would and has done something similar for me. It's all about making solid relationships with particular shops.

How about the price? High premiums would keep the silver stock from selling.

Desire or dream.

@@flyingtigers3747 But what will they pay you for the same?

@@flyingtigers3747 Apmex has almost never never been shy about charging high prices. One of the best deals I ever got was from Apmex, though. I bought 20 rolls of 1992 proof quarters from them for a slightly lower price than they were charging for circulated Washington quarters... and these proofs are 90% silver and bright as mirrors. Gorgeous coins. This was several years ago and did not last long, though. Stackers were snapping these up very quickly.

​@@edb3877couple of years ago was the last time crAPMEX had deals. Their "sale" is still higher than average prices elsewhere.

It's an auction my friend people decide what they want to pay and alot of the time irs people supporting his channel.

20 years ago. A 20 sq roof cost 2 to 3 grand. Today that same roof cost 7 to 8 grand. Crazy

Yeah, but those taxes...

@@dms79 What taxes? Do "You" have to pay taxes?

@@duckhunter8387 Yes, capital gains taxes. Or is there a way around that? 😂

@@dms79 My coin dealer pays me cash.

@@dms79 I pay cash when I buy it, and get cash when I sell it. It may be different If you have it stored in a vault or a PM IRA/401k, but I not sure how that works.

@Silver_seeker_ poo poo

On your own to who? Where? Sincere question...thanks

Yes, you can... IF you are very careful about it. One can get robbed or worse if they are not careful.

@@edb3877 if you go to a dealer you will get robbed.