Selling Silver

I got an e-mail through from Atkinsons saying they want to pay 10% over spot for people to sell their silver to them, at current spot price of £16.79 with an additional 10% that's £18.47 an oz.  Seems a little low given most ounces of silver are selling for around the £31 to £33 mark.

Alternatively there is this silver sale on Ebay.

https://www.ebay.co.uk/itm/325396375646?

The seller is auctoning 65x assorted silver rounds, the auction still has 3 days to run so the potential for more is still there but this currently sits at £1806.00 which works out at £27.78 if you divide it by 65.

Obviously there are the Ebay fees to consider but basically I'm wondering why anyone would take Atkinsons up on this offer when you are  kissing goodbye to all that premium you paid and you just know they are going to lump it onto their sales price all over again. I see in the US dealers are offering to pay $10 over spot for silve eagles and are even lumping $10 premiums onto constitutional (junk) silver. Could it be that the times they are a changing?

I agree with your opinion @Rod Panhard (that should worry you). Why lose the premium only for it to be added to a dealer's profit. It may be that they are hoping to benefit from the cost of living crisis and reckon there will be people looking to realise assets. There may be people that are so desperate, but it doesn't sit well with me to try to profit from that.

Some people may have bought their silver long ago at say £10/oz, so the Atkinson offer may be appealing for a quick sale without the listing hassle etc. But a savvy person can get more.

Anyone in their right minds would refuse. You can get 20 per ounce all day every day. 25 is realistic. 
No way.

That Ebay auction for the 65 assorted ounces of silver is at £2150 now so that's £33 an oz. There was a time when my cost average was £12.60 an oz and i had a decent skelp of ounces as well but today it's nearer £17.50 only a quid less than what Atkinsons are offering.

Rod Panhard wrote:That Ebay auction for the 65 assorted ounces of silver is at £2150 now so that's £33 an oz.  There was a time when my cost average was £12.60 an oz and i had a decent skelp of ounces as well but today it's nearer £17.50 only a quid less than what Atkinsons are offering.

So I decieded to look at the spot price before jumping in again on this conversation. 

WOW ok so the emails are true, Spot price is low... ok but I would not go selling your collection now. Who would take a hit?  Unless someone is desperate, they might. But still YIKES. I would love to get my hands on silver at those low prices. I have not seen them on FB or anywhere else at that low of a price. 

I would have plenty of melting silver over the winter 

Seriously ....  I suggest if your looking at spot, to look at why spot has changed... and keep your silver. Dont sell it. I suspect a sharp lift in the future... 

I need it to be $25.50 on New Year's Day, so I can win whatever the prize is. See General Discussion End of Year Predictions.

Admin wrote:

Rod Panhard wrote:That Ebay auction for the 65 assorted ounces of silver is at £2150 now so that's £33 an oz.  There was a time when my cost average was £12.60 an oz and i had a decent skelp of ounces as well but today it's nearer £17.50 only a quid less than what Atkinsons are offering.

So I decieded to look at the spot price before jumping in again on this conversation. 

WOW ok so the emails are true, Spot price is low... ok but I would not go selling your collection now. Who would take a hit?  Unless someone is desperate, they might. But still YIKES. I would love to get my hands on silver at those low prices. I have not seen them on FB or anywhere else at that low of a price. 

I would have plenty of melting silver over the winter 

Seriously ....  I suggest if your looking at spot, to look at why spot has changed... and keep your silver. Dont sell it. I suspect a sharp lift in the future... 

I have no intention of selling, I was just pointing out what a racket Atkisons offer is and how you could do so much better. My viewpoint is just about everything else is hitting all time highs and silver is nowhere near it's all time high, it would need to beat this for me to even consider selling some.

Rod Panhard wrote:

Admin wrote:

Rod Panhard wrote:That Ebay auction for the 65 assorted ounces of silver is at £2150 now so that's £33 an oz.  There was a time when my cost average was £12.60 an oz and i had a decent skelp of ounces as well but today it's nearer £17.50 only a quid less than what Atkinsons are offering.

So I decieded to look at the spot price before jumping in again on this conversation. 

WOW ok so the emails are true, Spot price is low... ok but I would not go selling your collection now. Who would take a hit?  Unless someone is desperate, they might. But still YIKES. I would love to get my hands on silver at those low prices. I have not seen them on FB or anywhere else at that low of a price. 

I would have plenty of melting silver over the winter 

Seriously ....  I suggest if your looking at spot, to look at why spot has changed... and keep your silver. Dont sell it. I suspect a sharp lift in the future... 

I have no intention of selling, I was just pointing out what a racket Atkisons offer is and how you could do so much better.  My viewpoint is just about everything else is hitting all time highs and silver is nowhere near it's all time high, it would need to beat this for me to even consider selling some.

I know, sorry I might have come across the wrong way... 

It seems that there is no Physical loss or problems getting physical bullion.. The problem is that we might watch the coin supply's slow again because of the planchet issues.   You can buy bars left right and centre.... But coin series will be on hold or slowing again soon.