Let’s say I’ve come into possession of a gold bar, or a silver bar, or whatever bar.
OK, let’s say silver.
Any idea where a guy would look to move many ounces of silver?
I doubt that a small time guy like me could get full price for it, but I’d THINK that some one would be willing to offer me .90 on the dollar for it. Or maybe not? Can I only expect .50 on the dollar?
You need to try a place like this. Most coin dealers will only pay a percentage of the weight value, generally less than 50 to 85% of the spot value of that given day that you walk in. Even a good one. They are in the business to make money and the price can vary wildly from week to week. They also know a lot more about coin collecting than you probably do. Also, they tend to buy based only upon the weight value. If the coin or jewelery has collectors value they will almost always ignore it. They also tend to ignore the value of any stones in jewelery, unless they are diamonds.
If the bar is stamped .999 fine silver, we currently buy them and pay spot less seventy-five cents/ounce. We’re the biggest buyer of this in the Northern Ohio area. Most other dealers will be a little less, depending on how much they need to make. OH, yeah, we’re coin dealers…
Silver closed today in NY at about $14.40/ounce. Even a bad coin dealer ought to pay you about $13/ounce.
As far as shipping it, you’d spend as much on shipping as you would on taking it to the local coin dealer.
Call every coin dealer listed in your area to get quotes. Ask them how much under spot you’ll get.