How to sell silver coins in canada
THE CORRECT WAY TO SELL SILVER!
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[Music]
hey what's up everyone
this is silverslayer it's so easy
as a silver stacker to go on app mechs
and click buy buy a whole bunch of
silver right all you gotta do is push a
button
selling is the exact opposite selling is
the one thing we have to get right
or we're screwed you could have all the
silver in the world
bought at the perfect times had the
perfect strategy
but if you don't sell correctly then all
of that work all that time money and
energy
was literally for nothing when it comes
to selling
the the problem is where most people
where most people fail is they wait too
late
they wait till the last second and it's
justifiable because they say
hey i'm not selling for 5 10 15 years i
have time i'll think about it then
but the the reality is
we have to start thinking about it now i
will never buy a coin on apex
before i think about how i can sell it
i'm literally thinking about how i'm
going to be able to sell this coin
before i even buy it
and that is that's a great strategy
to get to get an idea on
your exit plan what is it going to look
like
who or where are you going to be selling
your silver to
if you are planning to sell all to a
local coin shop
dump it on the table like that guy then
you definitely shouldn't be buying
pandas kookaburras higher premium silver
because he's gonna give you
spot price for it or the same amount as
an american eagle even though that coin
is
10 15 more so
you really got to think about what your
game plan is
because that will be depending upon the
type of silver you stack
so now can you see why you it's so
dangerous it's so risky to wait
to put off thinking about your exit
strategy
selling is one of if not the most
important complex things that we talk
about on this channel
impulse buying panic selling those two
those two things take out ninety percent
of stackers ninety percent of people
fail
in silver stacking from panic selling
and impulse buying
so how can we avoid this how can we you
know how can we
make this make this you know this
situation
easier or or more avoidable and i always
say this
invest with your head not your heart
when you start investing emotionally
that's where the risk lies we are
passionate
but that doesn't mean that we have to
invest from
a perspective of ego i told you so
i want to prove you wrong or even if it
does
even if it makes rational sense if
you're going against it then that's not
investing that's gambling
we're investors we look at the reality
we look at the scenario we look at the
situation we get the information
we make we make a decision off of that
a calculated decision off of that
investing emotionally doesn't have any
rational thinking whatsoever
so looking forwards if i'm going to be
selling in let's say 10 15 20 years
i have to also think of a price
and i actually made a video a couple
days ago talking about what price
you're willing to sell your silver at if
you missed that video i
highly highly recommend you go check it
out
because it's a poll video so there's a
lot of different comments probably
around 100 comments of people
letting us know what price they're
willing to sell at whether it's
dollars fifty dollars seventy a hundred
three hundred
and it's interesting to see how
different so many people's
numbers are some people they're willing
to let it go at forty
because they don't think it's going to
go much higher
some people aren't even willing to sell
it 100 because they think silver's true
value is much higher
so it could be circumstantial if you're
only looking to sell
if you're looking to to exit the silver
this is the
silver stacking world in five or less
years then yes
forty dollars is much more realistic
than
three hundred because if silver is going
to hit three hundred dollars
that would take probably 10 15 years
but if you're not going to be selling in
10 15 years then you can't put that
price
as a realistic expectation for you to
sell
so you really have to incorporate
several different things you can't just
wing it if you wing it the the chance
the the probability of you making
profits
goes out the window and that's also why
i say don't blind and
don't invest blindly imagine who if
someone doesn't watch my videos if
they just buy silver whenever they want
and sell it whenever they want
don't watch any silver stacking channels
aren't connected to the media or what's
happening they just look at the price
buy it and they go on amex and sell it
and that's it
the chance of them making any profits is
so slim because
they don't have any backstory they don't
see where the prices are headed
they're not seeing what's affecting the
prices or
calculating what they should do about it
and making a strategy there's no
strategizing there
that's gambling gambling is when you
look at something throw your money hope
it sticks
investing is the opposite we look at the
situation
we look forwards look at where things
are headed
incorporate that to how it has or will
affect the prices of precious metals and
we
adjust accordingly we adapt accordingly
so
think about selling online if you have a
lot of pandas and kookaburras which i'm
sure a lot of us do
you're going to have to sell online your
local coin shop is going to look at that
panda
and say silver silver he's not paying
he doesn't care about how low how rare
that coin is how cool
it looks if the design changes every
year what what mint made
he doesn't care he's looking at that one
ounce kookaburra
and he's saying i'm buying the one ounce
of silver inside of that coin
nothing else on top of it and that
is where a lot of people fail don't
sell your silver your high premium
silver to local coin shops
you have to sell these coins online you
have to
when it comes to american eagles
canadian maple leafs go ahead
you're going to get a pretty fair price
but when it comes to
higher premium stuff you have to sell
online you have to sell on ebay
which also intends you have to make an
ebay page you're literally turning your
silver stack into a business you're
turning yourself into a business
you really are and that's a great place
to get tips from as your local coin shop
because they're also a business and
they've been doing it for
a while so build that relationship ask
them
ask them how they did it or what how
they started or any tips they've learned
along the way that could be a key
difference between you making a lot of
money and losing a lot of money
it really is and if you build
relationships at local coin shops you
can get
deals and that might be your potential
buyer in the future think about it
i get certain amounts or certain types
of silver put away every month for me
because i've built a relationship at my
local coin shop
but anyways getting back to the whole
point of this
since you're going to be selling on ebay
i recommend building reputation
liquidity is key another part that comes
with
selling is liquidity you could have the
nicest coins the most rare coins a whole
bunch of silver
but if it's hard to sell it's definitely
gonna gonna hinder
your success so i recommend selling
little ounces here and then
here and there already even if you don't
plan on selling for 10
20 years sell one ounce of silver an
ounce
on ebay just to build some reputation
because what if you just randomly one
day
list a thousand ounces or a hundred
ounces but you have no seller ratings do
you really think someone's going to
trust buying from you no they're going
to go to the next guy the next company
that has thousands of seller ratings
that's the truth so if you start selling
one ounce here one ounce there
by the time you're ready to sell you'll
have
some reputation build up and then it's
going to be a lot easier
to sell a lot easier
you have to think about competition you
have to think about time as well
time and energy and money the paypal
fees the ebay fees
but the reality is if you have a
thousand ounces or
100 ounces even five to six pictures per
listing
taking those pictures uploading them or
sending them from your phone
to your laptop dragging them to ebay
writing out a description for
each one of those coins talking to
customers
negotiating then you also have to
pay the fees you have to ship it out you
have to wait two weeks to get your money
at first i mean
it's not pretty but there is easy ways
around it you could just
buy all bullying and just dump your
silver on the table
like the guy did at the at on the pawn
stars episode
but if you want some real money then you
have to do it this way
because bullion's pegged a spot price so
if spot price
is still 26 dollars in 10 years then
your stack has not appreciated a single
penny but if you buy coins like pandas
and kookaburras
your stack will have tripled quadrupled
in profit so
you really have to weigh out which
direction you want to go
the pros and the cons it really should
be individual in nature to your decision
but it is vital to to figure it out you
can't just sweep it under the rug and
say oh i'll figure it out eventually
the longer you put it off the more you
procrastinate
the risk the more you're putting
yourself at risk
for really not making much and that
would be a terrible thing to waste
to to have all these years watching all
these videos
spending all this money this time this
energy
and falling short of even breaking even
and it happens to a lot of people
that's why you see a lot of people in my
comments very resentful because
they did it wrong and they and and
honestly
i couldn't think of a worse feeling than
that
so make sure you have an exit strategy
what is your exit strategy i would
really like to know
what is your time frame of selling you
have to have an idea
it doesn't have to be an exact idea
because it could be circumstantial say
i'm willing to sell it a hundred dollars
so if a hundred dollars comes in three
years i'll sell if it comes in ten years
i'll sell then
so if you have a set price then that's
that that's a very good thing
make sure you stick to that price
because panic selling is real
but also think about the longer picture
if silver's a hundred dollars in three
years you might not want to sell all
then because then what if it goes to
three hundred dollars in
five six years you could have made a lot
more money just waiting a little bit
longer
so you really have to gauge how you sell
i always say
sell in increments don't ever sell your
entire stack at one price because then
you've pegged
your success at that price but what if
you sell
at thirty dollars or go all in at fifty
dollars sell your entire stack but then
a couple months couple years later it
gets to
eighty a hundred you could have doubled
your money so you really have to be
careful you have to keep a keen
and and watchful eye monitor their
markets
and try to sell the tops buy the dips
sell the tops
i'm going to wrap this video up here if
you thought this video was educational
information or at least entertaining
make sure to smash the like button i
post daily videos
to at least two videos a day so stay
tuned this was silverslayer thanks for
tuning in i'll see you guys soon
peace
