I Am Facing HUGE Losses on eBay - Why Am I Selling My Silver?

#gold #silver #money
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Welcome to the intriguing world of gold and silver investing! Have you ever found yourself captivated by the shimmering allure of these precious metals? If so, you're not alone. Join me on a journey as we explore the multifaceted reasons behind why we buy gold and silver.
For me, stacking silver and gold began as a hobby, a fascination with the tangible beauty of these timeless assets. As I started delving deeper into the world of precious metals, my motivations evolved. What started as a hobby soon transformed into a means of financial security and wealth preservation.
Over time, my outlook on gold and silver investing has shifted. Initially driven by the desire to acquire shiny coins and bars, I began to appreciate the historical significance and intrinsic value of these metals. Gold and silver have stood the test of time as reliable stores of wealth, unaffected by the fluctuations of fiat currencies and economic uncertainties.
But it's not just about financial security. Investing in gold and silver has also become a way for me to diversify my portfolio and protect against inflation. In a world of constant change and uncertainty, having a tangible asset like gold and silver provides a sense of stability and peace of mind.
Moreover, there's a certain satisfaction that comes with holding physical gold and silver in your hands. It's a tangible reminder of the value of hard work and prudent financial planning. Each coin or bar tells a story, whether it's a piece of history or a symbol of hope for the future.
As I continue to stack silver and gold, my reasons for doing so have become deeply personal. It's not just about financial gain, but also about preserving wealth for future generations and leaving a legacy of stability and security.
So, why do we buy gold and silver? The reasons are as diverse as the individuals who invest in them. Whether it's for financial security, portfolio diversification, or simply the joy of owning something beautiful and valuable, gold and silver hold a special place in the hearts and portfolios of many.
Join me as we delve into the fascinating world of gold and silver investing, and discover why these precious metals continue to captivate us generation after generation. Don't miss out on uncovering the timeless allure of gold and silver! 🌟 #Gold #Silver #Investing #PreciousMetals
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Thanks for watching and I will see you next time!
Topics covered in this video:
banking, finance, gold, silver, precious metals, cash, wealth preservation, economic uncertainty, financial independence, store of value, means of exchange, alternative finance, bank withdrawal, financial strategies, personal finance, financial system, economic trends, global economy, investment, asset allocation, monetary policy, inflation, deflation, wealth management, fiat currency, currency devaluation, financial education, financial literacy, monetary history, financial freedom, financial planning, asset protection.

[@mazza4190]

Thank you. I had no idea I could access such a simple eBay final value fee calculator. Will save time and make pricing far simpler. Excellent.

[@pauladams8459]

Personally don't understand why people pay the premiums on new proofs. Unless they become extremely sort after and get promoted in some way, in 20 years, they will be just worth spot along with basic brits. Sometimes harder to sell than a basic brit. Meanwhile the new 2044 coins get sold for spot + huge premium.

[@mattivation_inc.]

Thanks for sharing the info about the eBay final value fee calculator. Great to know!

[@BackyardBullion]

Glad it was helpful!

[@sang3Eta]

Cancelling the Monarchs set just means they will be uber rare and worth more in the future. I wouldn't be too upset.

[@spamfritters1]

Good luck with the auction

[@johnroberts3475]

Great info BYB thanks

[@----Jay----]

I get those 80% off FVF offers too in my eBay shop. A handy tip: pre-list some placeholder Buy It Nows for future sales. You can edit the description & details for specific sales later, and they last a month each anyway. (You might be able to convert those to auctions later, preserving the 80% FVF, but I'm not sure)

[@esurfrider7687]

What is the 80% discount on eBay final value fees? Is that a UK thing? I’ve never gotten any discounts from eBay in the 20+ years I’ve been selling on the platform.

[@ah5836]

From watching another youtube channel who also does bullion reselling, gets people excited at the prospect of reselling for some extra cash, tried it a little bit doesn't work out very well. Now whenever I buy collector bullion products I just assume I'm never going to get the premium back in a future sale, and make the value judgement up front if it's something I really want to have for a collection price be damned. The U.S. I don't think does FVF discount promotions, we pay full price every time, everything needs like at least a minimum 20% premium just to break even. Best tip for auctions make sure it doesn't end overnight or super early morning, alternatively those are the best auctions to track to buy and can snag some good discounts

[@TomokosEnterprize]

The only silver I have sold are my poured and cast silver pieces.I have just started to pour for my own stack as I have very few pieces of my own. Thousands of ounces have passed through my torch and cup. As your furnase has seen. How many pieces have you tucked away My friend ?

[@UncalBertExcretes]

I sell coins on ebay I will be looking for an alternative platform because the ebay fees force you to over price items which makes it difficult to sell but I have successfully sold some silver proofs on ebay for more than you can buy them from a dealership. And I was selling 1oz bundles of pre 1920s for £50 an ounce... Yes, fifty quid per ounce for tatty worn sterling coins.. I sold a surprising amount at that total rip off price, so much I ended up taking it down due to feeling bad taking money from people who dont know any better plus Ive decided to keep the silver as ive noticed the premiums on these old scrap coins is actually making them more expensive than buying fine silver rounds.

[@jonodunn2592]

I only list buy it now too many times auctions end and the buyer decides he doesn’t want to pay for it and that’s a week wasted and another week until you get an 80% off but the plus side of auctions is you can get a better price as bidders get competitive and Fomo kicks in

[@johnroberts3475]

BYB are your 2oz silver proof coins up for sale yet? I'm looking to buy but most sellers are asking close to £200 for each

[@BackyardBullion]

Not yet, I am going to put them up for auction in a few weeks.

[@nickgardener5802]

You may want to head over too The Silver Forum. I believe there's a few.

[@drip369]

[@BackyardBullion]

Thanks my friend!

[@drip369]

@@BackyardBullion you're welcome haha I just love how the emojis can apply to the conversation because eBay basically started out as a pyramid in a way right? And now it's a roll of the dice