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Selling Off American Buffalos...
Juan
Posts: 71 ✭✭
I'm thinking of selling my gold Buffalos from 2006 to date and am leaning toward David Lawrence. I have not just the Buffs but gold from the late 1800's as well at other gold strikes from the US Mint. Is DL the place to go for the best price? I'm not sure how they pay on their "buy it now" price, I certainly wouldn't take spot but they are collectible. Most are PF69DCAM with a few PR 70.
oklahomakid
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Talk to them directly.
https://www.davidlawrence.com/contact-us
Dealers make money by buying low selling higher, so its my guess that no dealer is going to offer more than spot ( most will be back of spot) for a bullion piece like the buffalos unless there is a year of very low mintage that has a premium.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Most buy these trinkets at above FMV and will be offered below FMV on sale.
Maybe trade them for some coins you like unless you just want cash.
You are about to be very disappointed. They are little more than bullion when it comes time to sell. Expect low offers.
Put them on the BST first. Less fees.
As the trend is up, i would keep them unless you need the money for something important (not a vacation, etc.)
I think the best place to sell any coin or bullion is at a coin show. There are multiple dealers and you can shop it around.
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+1
I would be talking to Apmex for a quick turn at a fair price.
Most modern bullion coins don't really carry premium as "collectible" coins. That said, Lawrence certainly isn't the place to get best offer. Try BST, Craigslist, or Feebay first. Even the Big A as mentioned above before DL. Personally I'd wait a bit as I believe gold is going quite a bit higher but that's all just speculation of course. Good Luck.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
That is a disappointment that most dealers offer spot. No, I don't need the money right away, I thought I'd cash it in for the wife so she wouldn't have so much to deal with if I croak. Not planni g on any departure soon but it's always good to be prepared.
Anyway, thanks for the replies, I really appreciate the info as well as advise. What is BST?
if your coins are slabbed Great Collections seems to get the higher prices for some of the better dated coins and their turn around on payments is quick, just saying there are a lot of options out there, check and see what fits your needs before you take the plunge. don't settle for low ballers that are telling you it your Best Deal your going to get. Shop Around it pays.
BST is the Buy-Sell-Trade board right on this site.
https://forums.collectors.com/categories/buy-sell-trade-u-s-coins
Juan? Holdtheline? Which one are you???
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
69s are bullion. They don't sell for much over spot, why would a dealer pay more than spot?
Make sure you consider all costs involved in selling. "Shopping around" on material like this can get costly and may not result in much improvement in your realization. Be careful when you sell. Make cash king. Don't take risks to try and get a few extra bucks. If you get a bad feeling about a potential buyer don't sell.
...good luck to you...all’s I know is that buffalo mutz is far better than what the cows give us
It might be difficult to sell gold on the BST with such a low post count. There have been several cases where relatively new members sold coins and bullion on the BST, kept the money, and didn't deliver the goods.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Melt price will likely be your best offer... unless there is one or two with premium value...The BST has no fees and a coin show would eliminate shipping as well....all aspects must be considered for maximum return. Cheers, RickO
It's true that you shouldn't expect much over spot for the 69s, and it's likely that most of the 70's won't fare much better. However, gold is gold and graded gold buffalos should be easy to liquidate at spot or slightly better.
I have a set of them, and in my own case, I will upgrade to a 70 if I deem the cost reasonable, but that varies according to my cashflow and motivation at the time.
I expect that when I decide to sell, I there won't be a throng of bidders and I will end up selling them at something over spot, depending on the relative scarcity at the time. Thus far, none of them have become unobtainable with large premiums.
Most all of the comments thus far in this thread are pretty accurate.
I knew it would happen.
Great Collections is a great resource.
It's also easy to call up APMEX and ask them their buy price, or any of the bullion/bullionesque dealers (MCM, Provident come to mind, though I've never sold to them). You won't be thrilled with the prices, but that doesn't mean it's not fair.
I'd avoid eBay as their fees will be bigger and the security less than GC. It's not THAT hard to rip someone off, and if you don't have a big history there people are less inclined to trust you.
But if you need a quick sale then blow out the 69s to APMEX and they will have a check to you fairly quickly. It's very upfront. Maybe the more numismatic stuff to GC. You could try the BST here too, but without a long history here folks may not be willing to take as big a chance on you as they don't know you. It's nothing personal.
If you have any fractional gold Bisons (2008 - 1/10, 1/4, and/or 1/2 troy oz) those are worth more than melt.
Yes, I have those fractional gold buffs, $5, $10 and $25 and three 2008W $50's. I think I'll watch EBay and see what some are going for, gold brings more than spot on FeeBay.
I just paid way over melt for a MS68
Yes, all of the 2008-Ws - Uncs and Proofs both - still have significant premiums in both 69 & 70.
There are a few others that might be hard to find and might catch a premium bid - 2007 MS-70 for instance.
The market is fairly thin, so it can tip in either the buyer's or the seller's direction, depending on the day.
I knew it would happen.
I'm going to sell the PF69 slabbed Buffalos and keep the 2008W MS70 's for a rainy day. APMEX is one place I'm thinking of going when I sell the lesser grades. Gold has gone up and down lately but still higher than it was year ago.
Boy that's an eye opener. Those beautiful coins only worth spot ? Find a buyer, not a dealer. I'm not so sure my choice solid numismatic material would fare much better in this market let alone my ASE rolls that are mostly MS69.
If u plan to sell on FeeBay I would suggest opening a store on a monthly basis, selling and then closing the store. The savings that you will realize on the final value fee will more than pay for the store for items in this price range.
Still the fees between eBay and PayPal and shipping which the buyers will largely expect to be free or substantial.
For the ones with no value above spot I agree with many others that at APMEX is the way to go. Best yet, if you're near any of the large shows that they attend you can just take them to them at the show and they'll give you a check on the spot. I've done this with them many times.
Good luck and I hope your warranty doesn't expire anytime soon :-)
On the commons in 69, you’re lucky to get spot
Try most dealers at 95-97% of spot