Fair price to sell silver

[Kick]

OK. I work at a pawn shop and have been buying silver for a little bit. Very little by very little and I now have a very little that I would like to sell. I can sell it to myself at work and get spot for it. I think that would be fair BUT, when we sell silver there, we sell it for a couple dollars over spot.

I have also looked on e-bay and have seen it there for well over spot.

If I were to put it for sale here, what would a fair asking price be relative to spot for individual to individual transactions?

 

[Brandon]

Kind of depends on what you have. Is it bars? Coins? Rounds? Also how much do you have?

 

[Lex Concord]

$5 an ounce sounds fair...I'll be right over

 

[Kick]

$5 an ounce sounds fair...I'll be right over

 

[Kick]

Kind of depends on what you have. Is it bars? Coins? Rounds? Also how much do you have?

I'm looking to sell a 10oz Engelhard Bar and a 10oz Johnson Matthey bar. Neither one of them are "pretty" but, they are not chipped or anything like that. I also have 20 of those generic rounds that look like buffalo head nickles that I'm looking to sell. I'm thinking about selling some silver eagles too...

 

[Excalibur]

...

 

[Brandon]

The rounds you can buy at coin stores at spot all day long. The 10 oz bars you will probably get a couple bucks more total then spot

 

[Electronrider]

Spot plus 3 on the 1 oz, spot plus 5 on the 10

 

[Rocket]

I think a fair price is whatever anyone can walk into a dealer and get. It is not unfair to make a profit. If that profit is made at the market standard. As I am sure you know be prepared to go down in price as the market fluctuates. You can not go up. Unless you do not put a price and say it is for sale at $x over spot. I would think that would be fair.

 

[teddy12b]

The fairest price is whatever someone is willing to pay. If that's over spot, under spot or right at spot and you both come to an agreement then that's a fair deal.

I sold some silver to a guy for $1 less than spot. He had cash and we could make it quick and easy. It wasn't a whole lot of silver either, but the point is that you have to determine for yourself what's a good deal.