I live in Boston suburbs, and I had some silver coins. 10 oz to be exact. I wanted to sell those coins. Not because I needed cash or I thought silver price has topped, but mostly because I did not want to travel with silver coins on me. So, I looked for shops around me where I could sell silver coins. But I did not find anything nearby or anything that looked good to me. So, I started looking for option to sell silver coins online. Actually, I could sell the coins to the site I purchased them from. But I saw, they were offering considerably low price. At least I did not like the price they were offering for those coins.
In the search result, SellYourGold caught my eyes. When I opened the site, the professional site and excessive marketing demanded some authority. They market the heck out of their mentions in reputable sites and channels. That definitely gave me confidence that they are not scammers.
I signed up and was planning to send my coins to them for evaluation. They were offering FedEx labels, I needed to pack my coins. And they clearly showed how to pack those coins. It appears too complicated to me and I did not have so many envelopes. So I dropped the plan that evening. The next morning I got a call from them, and I informed them that I decided not to sell my coin, and the lady just put the phone without pursuing it.
But they did not give up on a potential customer. So, within a few days ( say 7 days) I discovered a kit in my mailbox. Just notice, this company has perseverance. They invested money and sent a kit with had 2 – 3 envelopes, and a FedEx label. I think this is their way to convince potential sellers who do not have access to a printer or envelopes or just got lazy to put all those things together.
I understood that, yet, I put my silver coins in them and the next day, which was a Saturday I dropped the envelope at the FedEx location. Mind you, I did not know how much they were going to offer me. They were supposed to check it and offer me an amount. So, I waited.
Monday the envelop reached them. But I did not hear from them on Monday. I got an email from them on Tuesday morning with a link to check the offer they made. I opened the link and saw they offered me $123.90, which meant he offered me $12.4 per oz. That day silver spot price was $23.7 per oz.
I called them immediately and asked them to return my coins. I really liked their customer care. They do not react immediately. The day initially agreed to return my coins. I knew they would offer me something. Let me explain why. They spent some money, which could be $2 to send me a kit and for the FedEx shipping label. And if they had to send the coins back, again they would be spending money. That amount will be a total loss or sunk cost for them. They would rather pay a higher price and keep the coins.
Next the lady asked me, what was the amount that I was expecting. I told her, I did not expect them to make a 50% margin, I would be happy to give them a 15% margin. So, she offered me $197 me and some changes. I asked for $200 and we shook hand, or whatever we could over phone. It was Tuesday. I received another email informing, I have another offer. I accepted the offer. And I selected checking account to receive the cash. Money got credited to the account next morning. Because it was a business day.
This is my experience of selling my silver coin online. It was easy and smooth. As long as you are happy with the rate they offer, you would like them, One more thing, with the kit they send a coupon to get a 5% bonus, that is bogus. Here is the link you need to visit.