I have a kilo of silver (bullion) How do I get the $1380 it is worth?
I've been offered $650 for it. How do I cut out the middleman and get its full value?
I've been offered $650 for it. How do I cut out the middleman and get its full value?
curtisports2
Favorite Answer
What form is it in? One ingot? Many small bars? Coins? If it's one ingot or several bars, what names and other markings are on them? Half of spot market is very low, and indicative that you have a kilo of very raw stuff in need of refining. You won't get full market anywhere unless what you have is prime material.
oneeye
A bullion buyer or jeweler will pay for the "melt value" of the metal less a percentage for his profit for providing the service of buying your bullion. He has to test it, weigh it, and resell it to make his profit.
He usually resells to a smelter for whatever the daily value is, less their percentage for their profit for offering their services.
You can sell directly to a smelter or silver broker for whatever the daily spot value is, less their charges.
You can sell to anyone who is willing to buy from you for a higher price. Advertise. You never know who might respond. Remember that selling to just anyone can be a dangerous undertaking.
rickn23
Sell it back to the company you bought it from, they should be able to offer you more than half of its value.
This is the problem with the average person buying precious metals. You pay a premium to buy it, and you have to sell it at a discount.
Call a few places, pawn shops, jewelry shops that make custom jewelry, you should be able to find a place willing to pay 80 to 90% of its value.
?
Apmex will buy it from you at full market value.