Selling Silver Bars for Profit
Savvy investors know that precious metals, such as silver and gold, make great investments. Smart buying is one part of the equation, but eventually you may want to sell silver bars to cash in on that investment. You’re definitely going to need to do some research on how to sell silver bars before you start. You may not want to sell all of your silver bars; instead consider keeping a few bars as a way to continue storing value.

Know the Spot Price

The first thing you should do is start tracking the spot price of silver. The spot price is the daily price and it changes day to day. After tracking the spot price for a while, you can figure out what’s a high price and what’s a low price for your current time period. For maximum profit, you’re going to want to sell when silver’s price is at a high point.

Learn How to Determine the Quality of Silver Bars

Make sure that your silver bars are investment-grade silver bullion. Most silver bars are stamped with the fineness level of the bar and the bar’s manufacturer. Silver is considered fine if it’s stamped with at least .999, which means that it’s 99.9% silver. Silver fineness goes all the way up to .9999, or 99.99% silver. The pureness of your silver bar may affect the price when you sell. The name of the manufacturer may also have some bearing on the sale, because some dealers prefer to buy from certain top, or well-known, manufacturers.

Local Places to Sell Silver Bars

Figure out where you’re going to sell your silver bars. Local precious-metals merchants and pawnshops are nearby options that can help you cut down on the cost associated with shipping and handling. If you don’t mind shipping fees, then online precious-metals merchants are another option.

Online Places to Sell Silver Bars

There are different types of online sites. Some websites will just buy your silver from you at a price that’s close to the current spot price.  With most websites, you’ll need to call ahead and speak to a dealer representative. He’ll give you a quote on your silver bars; and then you mail them to the dealer. If you described the silver bars correctly, the dealer should pay you the amount quoted.  Other websites hold auctions for your silver for you, but using them can be risky because you wont be sure of the final sale amount. However, an auction could pay off if your silver is bought for more than the current spot price.