Check the coin and silver market and you will quickly realize that the decision to sell silver eagles is a trend that is fast gaining attention in today’s market. Not that many years ago, most people didn’t put much thought into old silver coins lying around their house; however, once the reputation of American silver eagles took off, the decision to sell silver eagles quickly became a common enterprise. Today, there are still many silver eagles that remain unsold and at a time when the silver market is performing well, there is no better time than now to sell silver eagles.
Considering that we’ve had a down economy for a while, and folks have been struggling making ends meet, selling silver eagles to supplement your income or to use for other purposes makes a good bit of sense. Just follow these easy to implement tips below.
1. An important consideration is that American silver eagles are considered silver bullion, and as such, don’t contain collectible or numismatic value. However, they contain one troy ounce of silver, and are extremely liquid in the coin and bullion marketplace.
As such, the first thing you want to do is monitor the price of silver in the precious metals market. The most helpful resource is the London Metal Exchange where the price of precious metals including silver changes on a daily basis. Suffice it to say that you should sell silver eagles when the price of silver is high and hold on to the coins when silver prices are taking a nose dive.
2. When selling silver eagles, you should have realistic expectations. Since these coins don’t contain collectible value, with the exception of the 1996 American silver eagle, they typically sell for slightly less than the spot price of silver. However, the price that you should receive should be close to the spot price of silver unless your silver eagles are circulated or have toning.
3. To get the best price for your silver eagles, always find local coin dealerships that have been in business for a while. There is an inherent risk in online auction sites, primarily because of the exorbitant listing fees and the fact that the coins take a while before they sell. If you want to exploit prevailing silver prices, your best bet is with a local coin dealer.
4. While we’ve already alluded to this, this best time to buy is when prices are down and the best time to sell is when prices are high. In fact, if you closely monitor the precious metals market, you can strategically buy and sell silver eagles at the right time, allowing you to essentially treat buying and selling silver eagles as if they were common stock.
Now is the best time, more than ever, to sell silver eagles considering the high price of silver in the market. If you have been holding your coins for a while, perhaps it is time to sell them and earn some quick cash to help tide you over during these difficult economic times. Silver eagles are valuable and you should not let them lie around collecting dust. Turn your silver bullion into instant cash by making the decision to sell silver eagles in Atlanta or online.
Looking to find the best deal when you, then visit www.atlantagoldandcoin.com to find the best advice on in Atlanta or online