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hello everybody back helpful in here Oh
everybody's alright in these crazy times
that we're living through these crazy
times have certainly fueled a lot of
really interesting questions one of
which is is now a good time to look to
sell some of your physical silver I know
that might seem a little strange for a
lot of you out there who are thinking
but solar prices have come down why
would you want to sell well the premiums
on physical silver if you have physical
silver and you are able to sell it and
ship it out to people the premiums are
high and it's in demand I've seen
countless ounces of silver sold on eBay
and on silver forum the various other
forums that are out there Facebook
Instagram you name it there are physical
ounces of silver being sold at quite
high premiums and profits and that is a
really really good market if you are in
the situation where you need to sell
some soccer right now going to a dealer
right now is hard it's not really
practical it's going to cost you money I
think in the long run so today's video
is going to talk a lot about selling
silver how and where you might want to
think about selling silver some of the
implications that might come into your
decision-making for that and ultimately
why selling to a dealer is probably the
worst option that you have right now and
how that impacts us going forward and
stackers and our strategies why a lot of
people don't rely on dealers and how you
might mitigate that in the future for
your stack so lots of things to think
about today I want to put my usual
caveat in to say that I am NOT a
financial adviser this is just a simple
collection of my thoughts and opinions
on the subject so any financial
decisions you make are yours and yours
alone having watched today's video so
dealers let's just start there so a lot
of people will have bullion dealers as
their kind of go to exit strategy for a
lot of the metals they have now that's a
little bit more practical for those of
us or let's say those of us those of you
who are based in the USA because there
are a lot more dealers relatively local
local coin stores and silver bullion
sort of exchange shops are a lot more
common here in the UK they are few and
far between if at all and you often have
to rely on online dealers and in the UK
as well silver is really not seen as
that kind of go
2-methyl so a lot of these big dealers
will pay pittance for the silver even
now in America you'll see a lot of the
dealers
they'll probably bite your hand off to
buy it but they will not give you a
great price for it so selling your
silver on the second-hand market is one
of the key ways that you might be able
to release a lot of the premiums and
physical premiums out of the silver that
you hold to get that money now whether
or not you need the cash now to survive
perhaps you have fallen victim to some
of the situation that's creeping on this
world right there creeping on solace
here there's affecting this world right
now and you are in need of funds you
need to sell some of that silver I have
seen a lot of people really really
worried about their exit strategies
because they were relying on dealers and
with this whole situation and this is
you know so many topics to talk about at
the moment with everything that's going
on perhaps this is a topic for another
time relying on dealers in the brown
stuff hitting the fan scenario is not
necessarily the right way to go you are
going to be gouged on prices they have
all the power they have all the money
that they want to spend they are not
there as a public service they're not
there to do you a favor so selling this
stuff to other individuals is probably
the only other option and in fact I
would argue it's the better option it
does come however with a lot of pitfalls
which I want to cover here today so what
I want to start by saying is that if you
haven't considered selling silver just
generic silver whether it be
fingerprinted scratched up horrible
pieces like you see on the table here or
premium items if you've not ever
consented to consider selling those on
the private second-hand market it is
well worth doing so even if you don't
need to right now because one of the
most important things in that market is
seller reputation now a lot of that can
be mitigated to a certain degree on eBay
if you have an eBay profile of course
buyers have a lot more protection from
sort of you know PayPal various things
like that but at the end of the day
still if there's a brand new seller on
eBay with zero feedback there's going to
be a lot of very wary buyers out there
that perhaps won't be looking to buy
your silver so having a seller profile
having a online presence that you can
have
and outlet to sell your silver is
actually really really valuable and if
you have not considered selling silver
that way or having that as a potential
option then perhaps even just dipping
your toe into the market might be a
really good way to do it if you've got
you know an excess of silver ounces
right now you've got to start somewhere
I appreciate that it can be really hard
to start somewhere but even if you're
selling things you know a dollar profit
per ounce or something just get that
that started get that portfolio sales
portfolio going because it will come
back and pay you back in time I have no
doubt it well there are a lot of
benefits to being a reputable seller on
various different forums not even just
eBay we're talking about all the other
places so that's definitely something to
think about
now at the moment one of the issues
around selling your silver on the
second-hand market is going to be around
well as there's moral issues that start
with the moral issues so selling a lot
of silver on the likes of eBay for
example I've seen some huge huge
premiums on eBay we're talking like in
the UK 25 26 30 pounds announced even
for Britannia is for just generic
Batangas so there is a moral implication
here that perhaps one is taking
advantage of people out there in this
world who are looking now to get silver
they've perhaps only just heard about
this or they're it's come on their radar
and they're looking to get it and they
are wanting to get it now for me
personally there is there is plenty of
business case argument to be had to
start selling silver on eBay personally
I want to hold on to my silver for a lot
longer because I think there's more
value to be had out of it in the long
term but arguably you could sell and
have a big profit but there is four big
reputable sellers out there there is
this kind of you know it goes for
dealers to the price gouging the
profiteering side of things which is
really very very important to take heed
of if you are seen as a property if
you're seen as a price gouge earth at is
going to harm your reputation so be
careful is what I guess I want to say
from that side of things consider the
reputation that you might lose by
selling lots of things taking advantage
specifically of people be an ethical
sellers I guess what I'm trying to say
and that is really really important now
the other things are
one of the reasons why dealers are not
even shipping their silver right now is
around insurance if you are going to be
selling on the second-hand market it is
an awful lot more risky than just taking
all of your silver in to a dealer and
selling it to them so really need to be
careful on how that goes you have to
look at the different shipping options
that are out there at the moment for
your country whether they're insured for
example here in the United Kingdom we
are not able to have special delivery
insurance on precious metals anymore for
non signature if somebody does not sign
for it if it's left on the doorstep by
the raw mouse and pinches it for example
that is not going to be insured that is
not covered by the raw mail because of
the situation that's happening in the
world right now people are not signing
at the doorstep they're not handing over
the little you know handheld devices to
do the signatures so lots of issues to
look at in terms of the physical selling
of silver that leads to your own
personal risk level how much risk you
want to take in that sort of selling of
the silver you know there are a lot of
people who are happy to do that if
you're selling in quite significant bulk
ultimately there's going to be a lot of
very good people out there there might
be one or two bad eggs but it will
probably rear its head certainly now
because there's an awful lot more I want
to say I don't want to say scammers but
there are a lot of people out there who
are going to chance it and that's one of
the reasons why dealers do not want to
ship out their silver in gold right now
so definitely things to think about
there in terms of releasing that premium
it is probably the single best way to
get as much money as possible for your
silver so if you are looking at selling
a lot of silver because you either have
two or you think it's a good idea to do
so right now then have a good strong
think about the second-hand market
before you run off to your local bullion
dealer it really really irks me that
that bullion dealers do seem to take
advantage of people and it is it's one
of those bugbears where you kind of you
understand it from the business
perspective of course they want to buy
low sell high but as a lot of people
pointed out in my video the other week
about the profiteering side of things if
a bullion dealer is going to simply buy
your silver you know 12 pounds an ounce
12 to 15 dollars an ounce whatever the
prices and dollars and then immediately
sell it on for $30 an ounce 30 pounds an
ounce or whatever that is just that's
pure greed and profiteering I don't
agree with that
if bullion dealers are selling brand-new
pieces are bullion they're having to buy
from mints and the mints iconic gouging
on the prices then I don't have so much
problem with that so that's the one
thing I think I think the the markets
are really often swayed against the
individual the bullion dealers hold all
the power and that's something that's
really hard and horrible to see so what
do we learn from this how does this
affect things going forward I think I
will make a full on follow-up video
about sort of the dealer side of things
in terms of whether or not we should
rely on dealers in a brown stuff hit the
fan scenario because they are not always
there and to be relied on especially
when you know if things really go to pot
if the shipping services that raw mail
or the US Postal Service goes down or
doesn't want to work anymore then that's
going to be a big issue so let me know
your thoughts down in the comment
section on today's video I think it's a
really interesting topic and one which
I'd love to know your thoughts and
opinions on if you're just going to be
an obtuse troll then please don't bother
to comment but otherwise if you are
respectful of mine other people's
opinions we'll see you down there for a
good fun debate otherwise put a thumbs
up on this video if you enjoyed it and
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otherwise that's it from me today thank
you one and all for watching I want to
finish my video with my usual shout out
to all healthcare and key workers out
there in this world thank you for all
your efforts and helping keeping us
healthy and safe take care we'll see you
on the next one please make sure that
you like share comment and subscribe
anymore
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