GMRgold Blog

Knowing When to Sell Your Silver

2021-10-10T00:00:00-05:00

Trying to Figure Out When to Sell Your Silver? Our Top Insider Tips

Knowing when to sell your silver is important, and good judgment must be made when making such an important decision.

Currently the value of silver is increasing weekly and it is a great time to buy silver, not sell. Of course this is at the filming of this video. Things change. Call us or email us at gmrgold.com for up to the minute analysis on this topic.

When to sell silver should really not be dependent on the value of silver, but on your need to convert it into cash. It is a good idea to own a nice selection of silver. Owning silver coins and some smaller bars gives you a choice to buy or sell large or small quantities.

Take special precautions when selling your silver coins as sometimes they are hard to replace due to limited mintage or rarity.

You should also consider who you are selling to. Coin collectors clubs or reputable dealers are a good choice. Both can provide good outlets to sell silver. Advertising in newspapers or auctioning on eBay are other avenues. Make sure, in these instances, you know and can trust the buyer, especially if the value you are selling is high.

It is really better to never sell your silver asset unless you really need to and then only sell enough silver to convert to what you actually need.

It is very important knowing when to sell silver, just as it is important knowing when to buy silver.

Remember, "Take care of your money and your money will take care of you."

We stand ready to serve you - call or email us today to start a conversation.

Top Tips for Selling Silver

2021-10-03T00:00:00-05:00

Our Experts Advice to Clients on Getting Top Value for Selling Silver Coins and Bars

Silver has been on a steady uptrend in value for some time and the question is often asked, when should one be selling their silver?

It is difficult to say when or if silver will stop rising in value. Silver is currently in short supply around the world and although the use of it has dropped in photographic paper due to the prolific increase in digital photography around the world, demand from China and other Asian nations has increased markedly over the past few years.

The increasing demand for silver affects all holdings of silver.

As the value of silver rises so does the value of silver bullion in the form of bars and coins.

It seems unlikely that the long term uptrend in the price of silver will slow down or even fall slightly anytime soon.

Our experts predict the price of silver will continue to climb, making many silver coin collectors around the world overjoyed to say the least.

In the 1980s, the value of silver peaked at around 20 US dollars per ounce. This was a one off and the value dropped after that. What we see now is a slow steady increase and looks set to reach new heights soon.

Selling silver would seem, at this time, not to be the best option. Our experts are advising clients to hold on to their silver for many years to come.

Remember, "Take care of your money and your money will take care of you."

We stand ready to serve you - call or email us today to start a conversation.

How and When to Sell Silver Coins

2021-10-03T00:00:00-05:00

So, You Want To Turn a Profit?

Our Experts Tell You How and When to Sell Silver for a Profit

If you wish to sell your silver coins or bars - and you want to turn a healthy profit. How much you get for your portfolio will depend on several factors.

When you purchased

If you bought your silver several years ago you can expect to get a good return for them now since the value of silver has risen by over 100 percent over the past 6-7 years.

What type of coins you are selling

If you are selling Morgan Silver dollars, for example, you will get a better price than for Mexican or Canadian silver dollars, or even the British silver sovereign, as the silver Morgan is rarer and considered more valuable over and above the silver content. Also, some dates are more rare than others - making them worth considerably more.

The current price of silver

Watch the markets. The current overall trend of silver is rising. The value of silver has continued to rise as the need for industry outweighs the production of silver. In fact, silver is not being mined very much at all and new silver is being obtained as a by-product of mining other minerals or metals.

How will you sell your silver coins

You can sell silver coins either through dealers or by auction. Each has their advantages and disadvantages.

Auctions, such as eBay, provide an avenue through which you can sell your coins, but it is worthwhile browsing the auction site first to see what people are buying, and how much they are paying. It is no good putting up silver coins for sale if noone is buying the type of coins you are selling.

Selling through an established precious metals firm is somewhat safer, but you will only get the current value less the dealers charge for markup and you will sometimes pay for shipping. Checking the dealers terms of service also is a very wise move.

You can sell silver coins rather easily provided you keep in mind the aforementioned guiding principles and do your homework.

Remember, "Take care of your money and your money will take care of you."

We stand ready to serve you - call or email us today to start a conversation.

Four Things to Know About Buying and Selling Silver Bars

2021-09-29T00:00:00-05:00

The Top Four Things You Need to Know About Buying and Selling Silver Bars

With the rocketing price of silver, silver bars are becoming very popular with investors as well as collectors.

Silver investors know the cheapest and most efficient way of accumulating silver is in the form of 100 ounce silver bars; however, there are a few pointers that are important to keep in mind when collecting large 100 ounce silver bars.

First, ensure that you buy your silver bars from an established precious metals firm. Reputable firms will often offer silver from reputable mints or refineries. Johnson Matthey is one such refinery. Established in 1817, the reputation of Johnson Matthey is known worldwide. Advisors will inform you silver from Johnson Matthey is easy to liquidate into cash if you should so desire.

If possible, one should take personal delivery of your silver bars. You will also want to store it in a safe place. It is a good idea to keep your affairs in this regard private and not tell your friends and acquaintances you have silver bars in your vault at home - better safe than sorry. Some companies offer to store your silver and gold bars, but this should be avoided as a general rule. Instances of companies ‘removing’ the bars have been known and in the event the government wishes to ‘call in’ any metal such as silver or gold, these storage houses are the first to be visited by the government.

With investments in large silver bars, the amount you pay over ‘spot’ is much less than for a single coin or a small silver bar or even a ten ounce silver bar. This makes it much more worthwhile to accumulate as many large silver bars as possible.

Again, buying a small bar, or even ten ounce bar, would include a heavier markup which must be accounted for and covered before you start seeing a profit.

Accumulating 100 ounce silver bars is an excellent diversification tool and a good way of providing for your future assuming you do your due diligence and buy from a seasoned and reputable precious metals firm.

Remember, "Take care of your money and your money will take care of you."

We stand ready to serve you - call or email us today to start a conversation.

The Value of Gold and the Best Time to Sell it

2020-10-11T00:00:00-05:00

Whether you own gold in the form of coins, bullion or other forms, you will want to know the best time to sell off your precious commodity. The answer to this question can be a little tricky as it depends on a number of factors.

Past History of the Value of Gold

The value of gold has fluctuated like any other commodity. It fluctuates a lot as the price depends on a number of factors that can be hard to control.

To give a detailed review of the value of gold, let's first take a look at its value from the 1800s to the 1970s. During this period, the value of gold stood at around 29 to 31 USD per ounce.

This value took a turn for the better and rose to a whopping $600 per ounce in the 1970-1980s. Ever since this remarkable rise, the value of gold has been in a constant state of unpredictable fluctuations.

At the beginning of the COVID-19 pandemic, the value of gold dropped to 1,250 USD before reaching a record-breaking value of $2,000 per ounce.

According to experts, this value will only go on to rise.

Value of Gold Compared to Other Commodities

Gold is not affected by manipulative forces the same way that fiscal currencies such as the US dollar get affected. We saw a good example of this during the 2008 recession.

When is the Best Time to Sell Gold?

Now, coming to the real question, when is the best time to sell your own gold? Of course, if you are in dire need of money then the obvious answer would be to do it right there and then.

However, if you wish to sell your gold purely on the basis of when its value is at its highest then the answer to your question would be to never sell your gold unless you?re sure the prices will not increase or that prices will fall down in the future.

Liquidating Gold Coins and How to Get a Good Price for Them

2020-10-11T00:00:00-05:00

In case you are the owner of more than a few gold coins and are looking into selling them, then you are probably stuck on the very first step, i.e. where to liquidate your assets.

Getting Your Gold Coins Ready

Don't make the mistake of touching your coins. Keep them in the case as touching or even cleaning can cause damage to the coins.

Take time out to gather all relevant paperwork that came with the gold coins, including certificates or any other official receipts.

Which Gold Coins Do You Want to Sell?

This might come as a surprise to some but coins don't always get sold based on the amount of gold they contain. Some might get sold more for more based on their popularity and rarity.

Hence, go on the internet and find out the current selling prices for the type of gold coins you have. Moreover, you can contact an auction house or dealer to get the price.

It might also be a good idea to get your coins appraised.

Find a Suitable Outlet

Here are some options you can try:

Advertisements You can place an advertisement on marketplaces like eBay. An advantage to pursuing this method is that you may find a collector who is willing to pay a good price for the type of gold coin you have.
Auction Houses If you have an extremely rare coin then you can get in touch with auction houses and get it auctioned. Some of the rarest coins include Edward Florin III, the 1849 Double Eagle, and Liberty Head Nickel.
Selling to a Dealer Contact a dealer, get a price, and complete the transaction.

We hope this guide will make it easier to sell coins. Stay away from scams and only sell to someone who truly values what you have to offer.

Sale of Silver Coins

2020-09-26T00:00:00-05:00

Silver has been used as a coinage metal since the times of the Greeks. Silver coins are among the first coins ever used, thousands of years ago. It was after the success of silver that copper and nickel coins became common.

Silver coins can still be used in the modern world because silver is quite a precious metal. Silver coins are already considered legal tender in most countries.

Many people are, even now, hoarding silver coins to safeguard their future.

The basic silver coin is usually one silver troy ounce, for example, the Canadian Maple Leaf, the American Eagle and the Chinese Panda.

You can use your silver coins for their face value by presenting them at any location where you are making a purchase. The merchant will accept your coins if silver coins are considered legal in the country.

The problem, however, with silver is that its value is not fixed and it keeps on changing every hour, which can make it difficult to use it for day to day trading.

Moreover, there is a shortage in the supply of silver as little quantity of silver is being mined. Most new silver we unearth is a byproduct of mining other minerals. Hence, the value of silver is expected to increase.

We have already seen gold hit new highs in the last few days due to the pandemic. Something similar might happen to silver in the near future.

Consider this option if you?re serious about making more money. Silver is easy to store, can be a part of your retirement account, and even be used to buy goods.

Benefits of Purchasing Gold and the Right Time to Sell it

2020-08-21T00:00:00-05:00

Wondering when is the right time to purchase and sell gold? People will tell you a lot of things based on their experiences but not all might be right for you. Plus, access to a lot of information — especially if it differs — can leave people confused.

On the-privateer.com website, it has been stated that,

"During any discussion about the future or the prices of gold, it is important to keep in mind that gold in actuality is a political metal. This means that its price is 'governed'. Because of this history as a political metal, gold is unable to fit into the modern system of finance."

Keep this in mind when thinking about when to buy or sell gold.

History of Gold

Experts have found a significant link between the prices of gold and paper money. This has been constant throughout history.

If we take an in-depth look at the history of this "political" metal, you will find that gold has been used as a currency during different periods in time. It still plays a substitute to paper money in different parts of the world. However, things radically changed in 1971.

Paper money turned out to be the only feasible option to measure value. However, paper currencies still come with high risks especially due to debts.

Importance of Gold and When it Should Actually be Purchased

Coming to the actual question at hand, is buying gold actually beneficial? If it is then what is the best time to sell gold?

Richard Russel, the main behind Dow Theory Letters, said:

"Quotes are only beneficial to those people who have a share in a renowned company or a big bull market. Amateur investors make a lot of money by simply holding on to their homes than they do by entering the stock market. The reason for this is simple, if their home is sensibly financed, they will not have to worry about the quotes during a bear market."

The same holds true for gold. Its prices change every hour or so and long-term investors have to neglect such fluctuations. You can't always buy or sell gold after a sudden shift.

The best option is to hold on to your gold and relax. The reason? Gold is the truest form of currency out there. It is the only form of money that does not lose its wealth regardless of the situation.

Gold remains valuable during both good times and bad times. So, instead of dwelling over daily quotes and the increasing and decreasing prices of gold, it is much better to simply hold on to it and continue accumulating gold in today?s unstable economy.

Think about when you intend to sell in terms of value and strike a deal when you reach that value. Don?t be greedy waiting for prices to go up unless you?re sure the market is in your favor.

When is the Right Time to Sell Gold

2020-08-10T00:00:00-05:00

It's important to know when to sell gold as your "profit" largely depends on timing. First of all, there's no "right time? as it depends on a variety of factors including when and why you bought it.

Not everyone who purchases gold has the intention to sell it. Some buy gold jewelry only because it looks good. However, a large number of people buy gold with the sole intention of investing and selling it when it increases in value.

Gold prices are highly volatile. They change several times in a day. We have seen gold hit new highs in the last few days due to the current situation. More and more people are investing in gold, driving demand higher, causing a surge in price.

The simple demand-supply formula applies here. Since gold has to be minted, it's supply is limited. Countries and organizations try different tactics to keep gold prices at a specific level but there?s no one entity controlling the shiny metal.

If you look at our site, you will be able to find the latest prices and the current trend. Have a look at it to understand where prices are going and if you should sell or retain your gold.

Think about why you invested. Are you looking for short-term gains or long-term benefits? You can sell gold whenever you see a spike in prices if you want short-term benefits. This is important because prices may decline as well.

On the other hand, long-term investments can be risky as well because the trend may not continue. You can?t be sure if prices will only increase. The trick is simple ? sell gold if you feel it has reached the highest level.

There's no formula here, you will have to pay attention to factors that affect gold prices such as political unrest, economic conditions, etc.

Consider getting in touch with a financial advisor for tips on when to sell gold.

How to Find the Worth of My Gold Coins?

2020-08-09T00:00:00-05:00

A large number of people invest in gold with the intention to sell. After all, gold appreciates well and can offer good returns. The problem is you can?t always be sure of the worth of your gold coins.

The value of your coins depends on not just the prices of the metal (gold or silver) but also the rarity factor. A coin that?s rare will be more valuable than a coin that?s easily available. In addition to this, the quality also matters.

Collectible coins need to be in perfect condition to fetch a good price. Those who have very old coins in excellent condition might be able to get a good deal. However, you must have all the original documents including packaging to be able to get a good price.

It can be very difficult to get a good price for a coin that comes without a Certificate of Authenticity and original packing even if you're able to prove it' s genuine.

Hence, do not pull the coin out of the package ? not even to clean. Moreover, they should be kept out of sunlight.

Now, here?s how you can check the value of your coin:

Internet
Go to websites like HeritageAuctions and CoinFacts to find the value of your coins. You can also try auction platforms like eBay to know what others are selling similar coins for.
Dealers
Take your coins to a dealer — ideally, the person you purchased it from &mdash to get it appraised. The person will tell you the exact value of your coins, gold or silver.

Sometimes, it's important to know the value of coins for insurance and tax purposes, hence it becomes important to get ?em valued. So, make sure to use a reliable technique.

Selling Gold Coins on the Internet

2020-08-09T00:00:00-05:00

Yes, it's possible to sell gold coins online.

There are many websites that offer sellers a chance to sell gold coins. You can choose to fix a price or auction products through different platforms.

While there's always the option to sell gold physically, online options offer more ease.

Here are a few things to keep in mind when selling gold online:

Choose the Right Platform
This depends on several factors including where you've bought coins. If you've purchased all your coins from a single dealer then we suggest that you turn to the same seller when you want to sell your gold coins.

This will save you a lot of time and effort as the dealer will typically have a record of the coins that you've purchased. You will not have to work hard to know the true value of your coins. Plus, since you're more likely to get a good price if you already have a relationship with the agent.

In addition to this, you can sell to a dealer online or choose an auction platform like eBay. Make sure to read the terms and conditions and additional charges (if any).
Find the Price
Get the coin appraised as the true value might have changed since you purchased it. Gold prices are volatile and coins are known to gain value.

Some platforms require sellers to physically mail the coin. The team will inspect the coin and quote a price. In some cases, dealers may offer a price based on information without requesting for an inspection. You might, however, have to send photos and documents.
Have the Required Documents
Dealers need to be sure you're selling authentic documents, hence make sure to have your authenticity certificate and box handy. You might not be able to get a good price if you do not have the required documents.

All these options work. Make sure to pick one that suits you the best.