
With silver reaching prices not seen since the Hunt brothers had the market cornered, silver is back on the tongues of many investors. Gold's little brother, as silver is sometimes called, in April of 2011 was trading above $40 an ounce as it marched toward an record intraday high of $50.35 made in early 1980. If you want to sell your bar of silver or bars of silver because you consider its current price marks a top, it is very easy to do.
If you have not done so already, register with an online marketplace such as eBay. From eBay's homepage you will see a "register" link at the top of the page. Registration is a simple process and should only take a few minutes.
Take digital pictures of your bar or bars of silver so potential bidders can see what they are bidding on. They may want to see if it is a decorative bar commemorating some event or person, for example, or is freshly minted.
Select a category on eBay for your silver bar to sell under. You can choose "Coins & Paper Money" for example, and check the box next to "Bullion > Silver > Bars & Rounds" and then you are almost done.
Now you will have to create your listing, describe your bar, have a "Buy It Now" price if you wish, and upload your pictures for your listing.
Wait until the auction for your silver is over and ship it to the winning bidder. And as easy as that you have liquidated your bar or bars of silver.
Tips
If selling your silver bar or bars on an online marketplace is not how you would like to conduct such business, take your silver down to your local coin dealer. He may buy it or give you the name of someone who will.
References
- Educate Yourself: The Hunt Brothers and the Silver Bubble; Brian Trumbore
- Barchart. "Most Active Futures." Accessed July 7, 2020.
- CME Group. "Comex." Accessed July 8, 2020.
- CME Group. "Silver Futures Contract Specs." Accessed July 8, 2020.
- CME Group. "E-mini Silver Futures Contract Specs." Accessed July 8, 2020.
- CME Group. "Micro Silver Futures Contract Specs." Accessed July 8, 2020.
- CME Group. "Silver Futures and Options," Page 4. Accessed July 8, 2020.
- CME Group. "Silver Futures and Options," Page 2. Accessed July 8, 2020.
- CME Group. "What is the Precious Metals Delivery Process?" Accessed July 8, 2020.
- CME Group. "Micro Metals Products," Pages 1-2. Accessed July 8, 2020.
- Bard College. "The Rise of Money and Class Society: The Contributions of John F. Henry," Page 14. Accessed July 8, 2020.
- CME Group. "CBOT 100 oz. Gold Sets New Volume Record." Accessed July 8, 2020.
- Trading Economics. "Silver." Accessed July 8, 2020.
- The Silver Institute. "The Future of Silver Industrial Demand," Page 5. Accessed July 8, 2020.
- The Silver Institute. "Mine Production." Accessed July 8, 2020.
Tips
- If selling your silver bar or bars on an online marketplace is not how you would like to conduct such business, take your silver down to your local coin dealer. He may buy it or give you the name of someone who will.
Writer Bio
Scott David has been writing since 1999. He has contributed to several educational online portals, a leading business newswire in Europe, "The Wall Street Journal" and "Institutional Investor," now working as a business analyst. David earned a Bachelor of Arts in Latin American studies at UC Berkeley.