How to Liquidate Silver Bars
by Scott David ; Updated July 27, 2017
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
Photo Credits
- Thomas Northcut/Photodisc/Getty Images