How to sell your Precious Metals.

hello everybody it's spectacular the silverstack Euler today we're going to talk about how to sell your precious metals when it's that time so now I'm making this video does that mean that it is time now to sell your silver ah no not necessarily that is up to you that is a personal decision that you have to make when you buy this stuff you also have to consider when you may need to sell it so that is all up to you so now I'm just gonna give you some advice on things you should look for to do etc when it's time to sell so now I have a few different things laid out here I've got poured silver junk silver I've got like collectible stuff I've got some old like sterling silver things like that so one of the first things I would recommend to you is if you don't have it yet you need to really consider getting some form of other types of payment besides like a credit card etc and I mean like PayPal if you haven't got a PayPal by now you're really really missing out it's it's a very trustworthy company I've had PayPal for over a decade and I've never been let down by them they're very buyer friendly when the buyers on the right and they're very seller friendly when the sellers on the right they definitely look out for both parties when that person is in the right so I would recommend getting PayPal also consider things like venmo venmo is actually owned by PayPal so again it is trustworthy so now what a lot of people will do is when it's time to sell they just want to get rid of it maybe a loved one has died and that inheritance has gone on to you now and you're like overwhelmed you don't know what all this stuff is you haven't watched the videos etc you just want to get rid of it it may be the easiest for you to go to a coin shop or a pawn shop and just get rid of a lot but I guarantee you if you do that you're going to lose a lot of potential money there for sure at either the coin shop or the pawn shop without knowing what you have now one really awesome thing about precious metals is that precious metals don't have to be sold to pawn shops and coin shops and businesses like that this stuff is great because it can be sold from person to person other people besides just you or your loved one the past etc finds this stuff valuable I do there's tens of thousands of other people probably hundreds of thousands of people out there ready to buy this stuff at any given moment because they also you know find it valuable so don't think that you have to go to some place that will sell it for you because you know somewhere in your neighborhood I'm sure there's somebody or a few people that would buy this stuff from you believe it or not is it safe to go to those doors you know door to door and say hey you want to buy some so you know maybe not but I'm trying to make a point that other people find this stuff valuable so now let's say that you don't want to just go to a pawn shop and coin shop and make it just you know a fast process and lose a lot of money you want to try to get the most bang for your buck so now first thing I would recommend is doing a little research on the things you have it's so simple you could just you know grab a piece look at it find out who makes it find out how big it is find out exactly what it is okay it's made out of silver and then do a little research on it and find out approximately the going rate for such a thing you can do that by looking at places that have sold it before so for instance I got this off of social media you could go to the right to the source and find out how much that's being sold for there you can look at eBay sold listings I'm sure there's something similar on sold listings you could ask around in a community if you're in a forum on social media what's something like this poured silver wise would go for so that's definitely how you could you know do some research look it up the Internet is full of information I made a video before about how to quickly check sold listings on eBay that's that's a great way to check out you know what something is valued at so let's say for instance you have a dollar or right here two dollars worth of junk silver just type in two dollars junk silver coins on eBay and then go to the options and switch it to sold listings so you can see everything that's been sold for that that's worded that way two dollars junk silver and it will show you what the average prices are not things that are sold I mean it's it's what it what a great resource for information there so I would avoid things like like when you're doing coins I would avoid things like red book things like that to get a accurate selling price you want to go to actual like sold listings that you can see at that very given moment so you have an idea and also you may want to keep that information handy somehow so that you can give that information to other people when it's time to sell you can say well you know this right here says it's sold for this much at this time so that's kind of around the area I would like to be when I go to sell mine all right so you have ways to get the payment like PayPal venmo etc you have done your research you've looked on ebay sold listings you've looked up prices you've scoured the internet etc so now where can you sell I would also recommend considering getting an eBay account if you don't already have one and it's so simple to sell things on there it's not even funny and I would also recommend selling just some stuff on eBay you know things around the house there's things that you've seen a dozen times around your own house you're like I really don't need that anymore I just I wish I could sell it you can you can actually sell that no problem you know wrap it up and ship it out get that eBay account sell those little trinkets here and there build up some reputation so that when people you know see your items there's more people that are drawn in because you do have a little bit of reputation built up so it's that's easy to do find something you like wrap it up in like a little bubble wrapper or go to the post office and get there free boxes or bubble wrappers that they already offer for their priority shipping wrap it up have the post office put a label on there for you pay pay them right there and it gets shipped out it's a really simple process a little bit more simple and a little cheaper if you have a little thing you can do at home with like a computer a printer and or a label maker and so a little cheaper if you go through PayPal for shipping so there's there's definitely some options there and you can save a few dollars if you're able to do it in your own house and you just put it on your mailbox and put the flag up and there it goes out to the next person real simple but okay so you know eBay is definitely a great option but I feel like eBay is just a little bit above in most cases what a like a pawn shop or a coin shop will end up buying it for not not not too big of a difference but you could probably still lose some profit you know some possible profit there there is also a profit possible 'ti that the auction can start going crazy and it goes way up and then you end up getting more than this thing is actually worth if a lot of people are interested in the bidding starts going nuts alright now I want to open your eyes to this possibility that you think is just totally wild right Facebook Instagram I know there's social media you have people on their posts and selfies of you know and and showing how cute they look today because they you know did their hair this way but it's also a great place to sell stuff believe it or not absolutely great and it's totally free it costs you nothing to both buy and sell there you can make a page show what you have and say hey I'm selling this right here for a hundred bucks and if somebody's interested they go like hey I'm interested in that you start communicating right back and forth in that social media platform and then you ship it out to them real simple real simple and you can use things like PayPal friends and family which costs you nothing it costs them nothing extra except for exactly what they're going to pay you and ship it out now real quick since I'm talking about PayPal I do want to give you a quick warning PayPal is very very protective of both buyer and seller even more so for the buyers as long as certain criteria are being so for an example when a person ships something out so let's say you're the person and you're shipping out this right here okay you wrap it up etc you put a label on there it's in the mail now okay as long as this right here goes to the exact address that PayPal has listed for that person when you do your transaction when the person pays etc it gives you a you know their address you need to ship that out to that exact address and they're gonna be able to see so see you exactly where you shipped based on the label that was printed so now that has to happen otherwise PayPal does not have your back and you could lose out on a lot of money there and potentially so otherwise if that label says that this item was shipped to the person as the seller you are protected you have a lot of protection there and if the person goes I didn't get it well according to the label and the tracking etc from the post office it says you got it we're gonna go ahead and side with the seller in this case so you know that's something to think about that they do have your back for sure as the cell as the buyer if somebody you know sends you something and they send it to the wrong address they send it broken it's you know this right here let's say this comes in and it's got a giant chip on it that didn't have that chip on it when you when you first saw it you know in the pictures and when you bought it you sell that to PayPal they got you covered you know like they're going to protect the person that's that's in the right for sure so I also want to say that being said that is the regular PayPal service now I want to talk about PayPal friends and family for a second and VIN moe PayPal friends and family is a totally free service it costs nobody in the extra money there's no fees it's going to be taking out for you know either party normally there would be fees taking out for the seller with a regular PayPal a little bit I think it's like 3% will be taken out but that will not happen with PayPal friends and family but here's the catch there's also no protection from PayPal either if this gets sent out to somebody and the person goes yeah I never got it you know neither parties going to be happy because PayPal is not gonna help the buyer and they're not gonna help you any other way either they're gonna say hey you use friends and family you know you guys are on your own there is no guarantees there is no safety net when you use friends and family so you need to buy from somebody who's trusted so when you're buying on one of these social media platforms buy from somebody who's trusted build up your reputation as a good seller so that people can trust you to do the right thing when it's time to sell them stuff so now unlike Instagram and Facebook again totally totally free people sell stuff on there all the time I've bought many things on there in fact everything you see right here plus many more things have been purchased from individuals selling on Instagram totally you know free for me to go on there and look through their stuff it cost me nothing above the price they quoted me there was no fees the person that bought our sold these to me had no fees on their on their half it's just it's a nice way to do things so again I bought from trusted people they're very reputable in that community and if they weren't reputable if they were doing some shady stuff that community would filter them out themselves they wouldn't you know people would be spamming them with a lot of hate basically you know telling them that you know they're terrible and they would get no business at all so these people do want business they want to continue getting money so they are going to do the right thing that's just how it's going to work so it's my opinion that in like places like Instagram Facebook social media even Craigslist potentially you know be careful though be very careful with that you know if there's a lot of safety risk there with Craigslist if you do I meet somebody meet somebody in a public place but anyways those places right there have the best potential to get the most from your stuff now you know why is that right because again when I was talking about selling from person to person rather than to a business when you sell to like a coin shop or a pawn shop they have to resell it and make money so when you sell this right here maybe you get you know 50% of you know whatever it costs to them maybe since it supports silver they ignore the fact that it's art and they go yeah we're only paying for the silver content only so you know a piece that's you know worth close to 100 bucks now only goes for you know maybe 80 bucks maybe 70 bucks you get a lot less when you sell it that way so there's none of those reselling concerns when you sell stuff on like social media platforms like your Instagram your Facebook etc because those people they may be like you were one day they do plan on selling it but that is not their business they're not trying to buy it and resell it real quick they're buying it to hold it so that's where you can get the most bang for your buck it's telling from person-to-person and like I said before the great thing about precious metals is you can do that you don't have to sell to a business and I get a lot of questions like oh what am I supposed to do when I you know want to go sell this stuff I don't know of anybody who buys it there's many many people that are buying this stuff that is why they have businesses that sell precious metals is because there's buyers for it so don't be worried about you know people buying it from you because there is many people out there that's gonna buy it so now let's say I want to sell a big-ticket item right now you know this right here let's just imagine this piece right here is worth about $1,000 okay you can't afford to lose $1,000 in the mail all the time so protect yourself as much as you can you take lots of pictures of these things take all the angles of the sides get some close-ups of the coin front and back that way you know if there's any little certain spots on there you can identify the coin that way you know that there was a crack in the case then that's already been told to the buyer that way they know everything and if there's any kind of description that you're allowed to put in for these things make sure you put that stuff in the description too you know the hey there's a crack here hey there's you know a problem with the coin right here you really make those focal so that you can you know let the let the buyer know that those those are the issues and when they go to you know buy the thing they're already aware of that there's no surprises so now again we're saying just for pretend because we're pretending now that this is a $1000 little coin here so now you want to put insurance on this and when you I mean that when you go to ship it out you know let's say you're doing it at the post office you go to the post office say yes I want to have a 1,000 dollar insurance on this package and it's gonna be a few dollars extra you know just don't worry it's not gonna be a thousand dollars it's gonna be like you know maybe like five six seven dollars probably for a thousand dollars worth of insurance and that just protects you you know saying if something happens if the package goes missing one day that you have some kind of claim that you can file and that's you're you're saying that the value of the package is a thousand dollars so I would do that also consider things like signature confirmation that cost an extra couple dollars as well and that's when you know this right here gets sent out into the mail and it goes to the person that person will sign for that package saying that yep I received it right then and there from the postman so that's all that saying and that way you have a little bit more you know guarantee that that package actually got to that person and PayPal will definitely be siding with you if you cover all those little little check marks off let's say you are the seller and you ship it to somebody and you know the tracking on there is good the tracking says the package was delivered you know there's no problems the person tells you yeah you know the package was stolen I don't have it I understand what's going on tracking says it was delivered it was stolen it is not your responsibility to find that package okay and you are in no way responsible you shipped it out once it leaves your hands it's no longer in your hands think of it that way when it leaves your hands it's out of your hands you can't do anything anymore about it so when that gets to that person right the buyer it's the buyers responsibility to you know contact you know their local law enforcement to contact the post office to try to find this package etc about stolen items all that that's that's their responsibility so don't be fooled by some people that goes like yeah I'm gonna need a you know a new one because that one was stolen that's on them at that point and it's it's rough to say and it makes me sound like a bad person but once it leaves your hands it's out of your hands simple concept alright now I want to talk real quick about researching this stuff and making sure that you're selling it for the most money you can some things I want you to pay attention to right so let's say you have a coin I want you to check things like dates condition you know the type of coin it is you can even look for you know rarities within the coin different varieties etc think about those things when you go to sell because that's all going to increase or decrease the value based on the different numbers you know dates etc so definitely research and know what you have when it comes to coins because you could end up having a simple looking coin like this right here and it could be a $400 quarter you just never know unless you do know so make sure you do your research things like porch silver they could have some rarities to them you know this this could be a vintage pour it could be a really limited edition one I've seen one ounce poured silver bars though for a couple hundred dollars so do not just you know say like oh yeah it's poured so typically it goes between twenty to twenty-five dollars an ounce bah blah blah that's what I'll sell it for make sure you're researching this stuff these little knickknacks like this like little forks and spoons and silver pieces and you know sterling silver etc make sure you do some research on those because there's some rare ones of those you know Tiffany pieces for instance those are through the roof he has some Tiffany sterling silver you could be sitting on a little mint or gold mine there so definitely research this stuff like I said go to ebay look it's old things make sure you look at the little numbers all on these things make sure you identify who the maker is etc you could be sitting on a little bit of profit there when you go to sell junk silver some people say that junk silver is sold by the ounce we don't buy junk silver that way we buy junk silver per face right so let's say right here this these are two half dollars we'll buy it these two half dollars times let's say ten dollars per face value right so one dollar times ten is ten dollars so ten dollars for these two pieces right here okay so definitely when you're when you're selling or buying junk silver we're selling it you know by you know times face it that makes sense so don't try to do it by the ounce that's not how junk silver works junk silver is times face value so again 50 cents right here this is a 50 cent piece times 10 because that's just assets imagine that's the going rate is 10 times face right this would be $5 if you have to that's $1 $1 times 10 times face is $10 buy and sell like that don't do it differently if somebody says that hey I don't I don't buy junk silver people you know that way I only buy it by the ounce and be like okay well I like to buy some from you buy the ounce then and let's see how how well they do that for you you know they're not gonna do it that way then why would they do it the other way - it doesn't make sense let's say if you have collectible stuff so let's say you have things like this make sure it's not like a you know a rare piece a limited edition piece you know look all over it make sure there's not like some stuff on the side saying there's limited a certain serial number etc you know check it out look for things also when you go to sell it make sure you note any kind of dents mark scrapes etc you know let the buyer know that when you go to sell it put it back in this little box if it's coming with boxes and stuff for COAS make sure you identify those two that they are coming with you know extra things and COAS and whatever else the case may be so you may not want to sell everything individually you may want to just try to get it all out as one lot so now that could cause some problems because where you have people that you know collect just poured silver or just junk silver they may not be like me where they collect a lot of different types of silver like right now I'm really not interested in the sterling silver I want a lot of this kind of stuff right here what you see in this area so you know I would I would see this and I would value it personally less so I would give the person less for this whereas these right here I'm you know I'm down to buy so that's that's something to consider that you could end up getting you know less money so if you're gonna sell it as a lot maybe sell these pieces right here together so the poured silver together so the junk silver together so you're not quite selling it all together but you're making it smaller little portions and it's more appealing to different buyers that way more things before I go is I don't want to see you get burnt on your stuff when you buy this stuff don't think that it's automatically taken long you know a loss right away this is not the same as when you drive a brand-new car off the lot this is a little different because again you're not selling this stuff back to a car lot you know I mean where you have to you know just go ahead and take that hit because you know they got to resell it you are selling this from person to person those people are not reselling it so I could buy this for a hundred bucks and I could sell this for a hundred bucks believe it or not sometimes you can flip a lot of this stuff for even more you find a good deal rare piece where the case may be I bought it for 100 maybe I can sell it for 125 like how quickly shown you here there are options out there for you you don't have to be pigeonholed into certain little shops and in places to sell there are a lot of options and I did not cover them all there's a lot of other places you can sell to other places on the internet you can go to forums oh my goodness I've totally forgot about forums but coin forums and precious metals forums are there and it's the same scenario now people are looking for some deals on there but they're also willing to pay you a lot more than the coin shop or a pawn shop is gonna be selling you know they're buying these things from you for I want to say don't be that dinosaur it's just old school yeah I'm not getting into social media I'm not getting a PayPal I don't trust them you know I'm not gonna I don't worry about building a reputation etc those people are bound to fail I want to see you sell this stuff for the most possible money that you can I see a lot of people that they you know you know this or this happens you know my whatever the case may be my washing machine broke down I need another one you know what am I supposed to do I just got to go to the pawn shop take a little extra time post this stuff up on some social media get more bang for your buck by - washing machines right because who doesn't want to washing machines anyways I don't wanna see you get burnt I want to see you do your best I don't want to see you be that dinosaur that's afraid to do a little changing and to do things a little differently you know let's try to sell this stuff for the most possible you know we can't consider this that when you go to these different shops to buy you know you see this stuff right here for you know 11 dollars you can see it over here for 12 dollars and over there for 13 dollars what shop do you go to you go to the ones that sell it for 11 right generally you go for the lowest price so let's be a you know let's shop around when it comes to selling our stuff as well we can take a little bit more time and sell our stuff the right way so we can make more money there's definitely a lot more to consider when it comes to selling stuff I gave you some very basic stuff and just some thoughts that there's other options out there start this stuff now if you don't have these this Instagram stuff these Facebook's if you don't not a part of a coin or precious metals form just get an account there maybe once in a while make a post etc just to build up some reputation so people know that you're you know you're the legit you're not just some fly-by-night person that's just in and out day after day you know you've built some reputation I hope this helped make sure you thumbs up the video share with your friends and family and loved ones or just some complete stranger on the street share it with them to make sure that you comment leave me some comments tell me what you think and also subscribe if you haven't spectacular is out [Music]

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Views: 17,579

Rating: 4.8406711 out of 5

Keywords: Silver, investing, coins, bullion, hedge fund, inflation, gold, investment, copper, savings account, money, how-to, youtube editor, bank, coin, penny, coin roll hunting, bank roll, bank hunting, bank roll hunting, coin collecting, Lincoln cent, wheat cent, epic, silver, currency, junk silver, walking liberty, franklin, kennedy, mercury, dime, half dollar, quarter, constitutional silver, 90 percent, live, live show

Id: S8aJvR8i3D8

Length: 26min 21sec (1581 seconds)

Published: Mon Jun 03 2019