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Swapping gold bars for generic coins
Yorkshireman
Posts: 4,494 ✭✭✭✭✭
An acquaintance of mine contacted me for advice. He wants to trade a very large gold bar for bullion gold coins.
That makes sense to me. Does it to you? To whom should he talk for the fairest deal?
Yorkshireman,Obsessed collector of round, metallic pieces of history.Hunting for Latin American colonial portraits plus cool US & British coins.
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How large is this gold bar and who is the manufacturer of this bar?
Worry is the interest you pay on a debt you may not owe.
Large bars can be hard to unload.
Your acquaintance will certainly have to eat some premium going from a large bar to smaller 1oz coins. Depending on the size of the bar we are talking about this may only be a minor issue.
The whole worlds off its rocker, buy Gold™.
He has a 100 oz gold bar. I do not understand why he would have bought something so big, but he did.
I posted in the other thread....He should contact Apmex, they have the ability to deal at this level, and can provide either coin or cash for the bar. Cheers, RickO
kitco might be better to sell to..
at that size... any of the authorized purchasers will be big enough to handle that no problem.
Yorkshire
If it were me, I would hand carry a transaction this size. Jack Hunt in Buffalo or Rarcoa in Chicago if he is near those areas. They've always treated my friends right.