Hi friends,
With the epic run in silver, I posted to a local app that I was selling 10 ounces of generic silver rounds for $600, which was right near spot price. I figured some people would try to haggle to spot or slightly below, so I posted it at a reasonable price.
Bottom line after a few days - there are no local buyers. I get lowball offers of $400, but that is absurd when silver is $585 at spot price for 10 ounces. Like this guy:
Has anybody tried selling at current prices? Are local coin shops offering near spot for silver?
Just curious. Not really looking to sell much, was just testing the waters.
Thanks for coming by,
Brian
$4😂🤣, that would be spot, on August 29th, 2025.
We may need to tack on a Time Travel fee of $200.
!PIZZA
They want ro buy at a dead price.
This is what happening here in my country, the sudden rise in Silver price has shocked the investors, they think silver may take a dip here, that's why buyers are hesitating.
As is topical when this happens.
I wrote about it here:
https://peakd.com/hive-136819/@silversaver888/silver-to-gold-ratio
There is a typical 5% reduction in gold and a 7% reduction in silver from spot prices at local coin shops with the increase in spot prices nowadays.
!BBH
!LADY
!PIZZA
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Good to know… thanks!
My local shop is only buying collector coins and pure bullion. No sterling or junk silver, he said too many people were selling sterling and he had to stop buying it until the refineries are opened back to it.
I’m not selling locally but I’m selling pretty well on eBay. Even after fees I’m getting spot or better. Local shops and buy gold places are trying to rape right now.
Offers same as always here. Shops pay below Spot by 3% for generic rounds. A little more for eagles & other larger premium stuff. But it’s same as always. Ur always gonna get cheap idiots when posting ur selling on a local site. Serious buyers buying from big outlets because many get burned from local regular people in past so they stay away from off table deals. At least that’s generally the story here. People rather pay premium and go to where they always buy from instead of taking a gamble u might have issue with a private seller. Unless it’s someone u deal with regularly. !LADY !PIZZA
When it spikes way way up like 100% past 13 months, it’s standard to not get spot from a shop, but the 7% I see others discussing isn’t normal for here where I live. 3% under is.
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You can try this:
https://sdbullion.com/sell?msockid=1b7f2550e7ce6c05331931dfe63b6d58
That's not great. Not great idea to sell back to online dealers. You'll do a couple % better in person spots. At least here.