I bought into silver last year at a little over $17/ounce and think I might liquidate to move onto other things.

My question is, how is the best way to sell silver?

I don't have much experience on ebay, but I assume selling many pounds of silver whether in 1 transaction or many smaller ones, would look shady only having like 4 feedback.

I see silver quite a bit on EE but question the speed at which it sells unless very competitively priced. What other options do I have?

Oh I do know a jewelry/coin shop, but he offers me too far below spot for it to be worth my time.

Curious what they offered. I've got a friend in the jewelry business that's offering me $25 an ounce for my silver coins.

At the current Spot Price of $43bux an ounce, thats not much of a friend, he is screwing you and badly I might add.

Always ask for spot or hold. If you dont have to sell, hold out. Throw it up on the EE at spot price. Most people cant buy it at that. Most coin shops and online charge a few bux over spot, so its a deal to folks here. Just be sure to include insurance and shipping cost if you do a deal.

Also it depends on what kind of silver you have. Junk silver, current rounds, morgans, eagles, etc etc. With silver eagles your paying the silver price and usually face price ($1 dollar)

It was a while ago that I asked (Feb), I think at the time spot was around $30 and he offered me $25.

I had 1 troy ounce silver rounds .999 pure, minted from APMEX. They were all mint condition in the plastic tube they come in. The owner was the father of a kid I was doing jiu jitsu with, so not an extremely close contact, so all in all I felt it was a fair offer, but it just doesn't make financial sense to buy silver at a 5% premium, and then sell it at 80% value. If I did, when I rolled the capitol into another investment, that investment would have to gain 20% just to break even with the value of keeping the physical silver to begin with.

As long as you aren't pricing it with ridiculous premiums, you should have no problem selling it on the EE.

You're going to have to break it up into smaller lots to move it quickly.  

Spot is $43+.  It'll move quickly at $42/oz + shipping.

APMEX buy and sell prices

http://www.apmex.com/APMEXTop40/Default.aspx

Your best bet is to find another local coin shop.

Sell?  By March 2012, silver will probably be $80-100.  

Remember, I'm the guy who called gold at $1,800 earlier this year.  Some folks balked but now it is over $1,800.  I think that shiny stuff will be over $2,500 by March 2012.

If in doubt, wait until Sept. 7 or after the Ben Bernanke opens his mouth and announces QE-3 later next week.  Combine this with the 0% interest rate that will continue until mid 2012.  Along with this is the European Central Banks that are lowering interest rates.  Now, throw in Sept. 7 is when the German Courts rule whether it is within the German Constitution to use taxpayer money to bailout Europe.  I'm thinking it may come down as a no.  If it's no, then Greece bellies up and the European banks lose some.  However, the biggest losers will be the U.S. banks because they underwrote those loans.

Gold is going up.  Silver is following.

Depending where in Florida you are located you should be able to find a decent coin dealer who will pay you close to the spot price.

Now is NOT the time to sell.  If anything, its time to buy more.  There is a very real danger we could be living in a time that sees the US Dollar not only loose its reserve currency status, but actually collapse.  What was unthinkable a few decades ago, is now a real possibility.  Metals are not going up because they are a "good investment".  They are rising because of demand and people are loosing faith in our currency and western economies in general.  
Think about what you are going to do with the money before you sell.

This is debatable. I bought in at $10bux an ounce, for me, now is as good as any time to sell , which I did. Used the money to pay off CC and buy more preps. If you sell and stick cash in bank than I can see where thats not the ideal situation. If someone bought in at 35bux an ounce, I wouldnt sell at the current 42bux oz.

A local coin shop guy (Small town) is giving 82% +/- on small lots of junk silver coins  ($5-$10 face value).
Is this reasonable?

He is giving, as in, that is what he is paying for your silver off the street?

IMO no. Honestly, ive had way better luck in the EE here than anywhere. Here is my theory;

Most people cant buy PM at spot price, usually we have to pay a premium over spot. Dealers are going to give you below spot so they have wiggle room to make some money. If you put it in the EE at spot price, its a win win. The seller gets spot (which dealer wont give him)  and the buyer gets to buy it AT spot price, which he cant do at a dealer either.  

Now for Silver eagles, ill sell them for Spot + $1. This gives me my silver price and the face value of $1 dollar. For junk price, ill post the ad and say: "Price will be Spot at the time of  "Ill take it" that locks in the buyer and seller, its really easy to research spot price for that day , hell even that hour and minute in some cases. And then Ill send an IM to the buyer and say, "spot price at the time of your "ill take it" was XXX.xx and that is the price plus shipping"

Yes, he is paying 82% for "silver off the street".
Thanks for the tip.

Best way to sell is here on the EE.

Metals have gone up due to inflation as much as they have for currency fears. Those dollars you receive as "profit" aren't worth as much as they were when you bought the silver. That said, I'm in a similar boat with a lot of physical purchased between $16-$22 per oz. I'll be selling most of it on eBay as the buyers there are paying well above spot right now. I can get $450-$500 for every 10 oz bar I sell.



It will be nice to take some profits; I just can't forget that they aren't as large as they appear.



 

I would try the EE route and see where that gets you.. You can also sell to apmex.com at around the spot price...

I know EBAY looks like a good place to sell given how much people there are willing to pay however don't forget EBAY takes at least 9% of every transaction not even including Paypal fees which are around 3%. I agree with most here and say atleast try the EE. Heck I would likely buy for spot at the moment!

ETA: Apmex is great to deal with also. I sold a good amount to them several months ago and its was a very simple transaction.