Selling Your Physical Gold

[Master Shake]

When the time comes to sell your physical bullion, how are you going to do it?

Local coin shop? Won't get the best price there.
eBay? Listing + final value + Paypal fees
Classified ads?
Craig's List?


This past week I decided to sell one of my gold coins. It's one of the Austria-Hungary Corona restrikes that contain 0.98 oz gold. Advertised it on the local Craig's List at the APMEX price (provided a link). Thought that was fair; it would save the buyer the shipping cost.

Got no responses except for spam.

[charliebrown]

Re: Selling Your Physical Gold

tell me when you figure out the best place for a small retail sale.
apmex will buy your stuff back less a markdown and shipping.
how much will cash for gold give you? I have heard 70%, but then You're not selling your cheesy class ring that has to be melted down etc.
you are selling near pure gold which can be easily resold.

I think if the gvt want to confiscate gold, they will due it by regulating the dealers. having the dealers collect say 30% of spot. it doesn't matter what you paid. taxes are 30%.

[charliebrown]

Re: Selling Your Physical Gold

oh, ps, if gold goes back down to 910 give me a holler, that is my next buy price

[karim0028]

Re: Selling Your Physical Gold

Why would a coin dealer not be a good price? The coin dealer i frequent seems to buy at spot and sell at $39 premium to spot on Krugs and the like...

[dummass]

Re: Selling Your Physical Gold

Master Shake, I will buy your coin for a fair price. The only problem we may have is the shipping. Can coins be sent safely? FED EX or DHL? I'm living in Panama. I've never tried mailing PMs, but there should be a way of doing it. Any suggestions?

[metalman]

Re: Selling Your Physical Gold

Master Shake, I will buy your coin for a fair price. The only problem we may have is the shipping. Can coins be sent safely? FED EX or DHL? I'm living in Panama. I've never tried mailing PMs, but there should be a way of doing it. Any suggestions?

i was going to say... i bet any ituliper selling gold will find a ready buyer here.

[audrey_girl]

Re: Selling Your Physical Gold

why sell now?

the party is really just beginning...

[metalman]

Re: Selling Your Physical Gold

the movie needs an '*' at the start...

you can make money on the crash of the dollar*

* if you have any money left after being in schiff's funds through 2008 when the dollar crashed up, 100% contrary to schiff's forecast.

shoulda gone to cash the itulip way.

but schiff's blind followers fall for his line of libetarian patter.

investing via political ideology is a road to the poorhouse.

[karim0028]

Re: Selling Your Physical Gold

the movie needs an '*' at the start...

you can make money on the crash of the dollar*

* if you have any money left after being in schiff's funds through 2008 when the dollar crashed up, 100% contrary to schiff's forecast.

shoulda gone to cash the itulip way.

but schiff's blind followers fall for his line of libetarian patter.

investing via political ideology is a road to the poorhouse.

While i agree his timing was off, he seems to have the same reasoning as itulip..... He is also calling for gold/silver and commodities to go significantly higher...

The difference seems to be that itulip had the foresight to see that a market crash would take a lot of the equities (domestic and foreign) down with it....

[GRG55]

Re: Selling Your Physical Gold

While i agree his timing was off, he seems to have the same reasoning as itulip..... He is also calling for gold/silver and commodities to go significantly higher...

The difference seems to be that itulip had the foresight to see that a market crash would take a lot of the equities (domestic and foreign) down with it....

The difference is that iTulip doesn't run a brokerage/investment management business that generates fees from collecting and keeping subscriber's investment savings. If Schiff had recommended all his clients go heavily to cash his business would have collapsed...would you pay anyone a fee to "invest" in US Dollar cash?

[jk]

Re: Selling Your Physical Gold

The difference is that iTulip doesn't run a brokerage/investment management business that generates fees from collecting and keeping subscriber's investment savings. If Schiff had recommended all his clients go heavily to cash his business would have collapsed...would you pay anyone a fee to "invest" in US Dollar cash?

if ej opened a mutual or hedge fund which had the option of going to cash if he thought it appropriate, would you consider investing?

[pianodoctor]

Re: Selling Your Physical Gold

When the time comes to sell your physical bullion, how are you going to do it?

Local coin shop? Won't get the best price there.
eBay? Listing + final value + Paypal fees
Classified ads?
Craig's List?


This past week I decided to sell one of my gold coins. It's one of the Austria-Hungary Corona restrikes that contain 0.98 oz gold. Advertised it on the local Craig's List at the APMEX price (provided a link). Thought that was fair; it would save the buyer the shipping cost.

Got no responses except for spam.

I have been very happy with my relationship with a coin dealer (who does significant bullion coin business.) The prices are fine. He's been buying at $10 over spot lately, and selling at $30 above that. We fix our buy or sell prices via phone according to that day's spot prices, then complete the transaction via the mails. I've done business with them for over 10 years.

Local coin dealers I have checked with seem to pay about $10 over spot also, but their sell premiums are higher. (I'm wondering if they get the coins from my guy, then add a premium over that?) But still, when sell time comes, it seems I'll have a choice who to sell to, and probably get something over spot price.

[Raz]

Re: Selling Your Physical Gold

The difference is that iTulip doesn't run a brokerage/investment management business that generates fees from collecting and keeping subscriber's investment savings. If Schiff had recommended all his clients go heavily to cash his business would have collapsed...would you pay anyone a fee to "invest" in US Dollar cash?

That's why I left the brokerage business.

In the Summer of 1987 I had little old ladies with no more than $30,000 in life savings calling me wanting to put all of it in Wal-Mart.
Two years earlier I couldn't get them to buy Ginnie Maes yielding 11.00% !!

I was trying to get my clients to raise cash levels in their accounts to between 30% - 50% because I knew the market would likely have a steep correction (I didn't know it would crash). My office manager told me that people wouldn't keep their accounts with us if we took most of their portfolios to cash.

I decided that I didn't want to spend the rest of my life being a walking, breathing conflict of interest.

[Raz]

Re: Selling Your Physical Gold

I live within driving distance of this company.
This is where EJ bought his PMs back in 2001, so I'm likely to sell most of mine to them.

http://www.scpm.com/goldsilverbullion.php

[rogermexico]

Re: Selling Your Physical Gold

I will pay spot right now to anyone who wants to sell bullion coins.

PM me -no joke.