How does one cash in silver bullion?
September 29, 2010 by
Filed under Silver Investment FAQ
I know some people choose to invest in precious metals, such as American Silver Eagle coins. I know someone with a bar of silver bullion also.
My question is, when the time comes in 10, 20 years that they want to cash in their investment, where do they go? It’s not like there’s a “Precious Metals Exchange Station” next to every Starbucks. Is it difficult to do, and what kind of fee is involved?
You DON’T cash in coins or bullion. You SELL it to someone that wishes to BUY it.
Years ago, before Starbucks, my Uncle had a bar of silver. He used it as a door stop in his den. When he went on vacation, he was worried some one would break in and steal his silver bar. So he took it to the bank, but they did not have box big enough. So he had them put it in the bank vault, with the bank’s money.
Eventually, the price when up enough, and my Uncle found a bank, that would handle the sale for a price.
Coin dealers may know of some one who handles these sales. Check them out, when you are tired of your door stop.