I'm guessing your down quite a bit on that gold right now. If liquidity is an issue, cash is best, some dealers can smell desperation and might low ball you.
@3stars said:
I'm guessing your down quite a bit on that gold right now. If liquidity is an issue, cash is best, some dealers can smell desperation and might low ball you.
Nah I’m not down or out right now nor am I desperate to sell it.
I was only asking in case there was an event where I would need to sell it.
Right now I have more than enough liquid cash to cover my needs and even if I did need more money I would probably sell a few stocks unless I could get spot or more for my AGE.
@Gam3rBlake said:
Hey guys I was just wondering how hard it is to convert gold/silver to cash at a fair value?
Like I have a 1 oz Gold American Eagle and I’m wondering if a financial emergency came up..how long would it take me to find someone willing to pay the spot value of cash for it?
Like do Pawn Shops offer spot price? Or do they offer rip off prices like 10-20% under spot?
I’m only asking because I’ve never needed to sell gold before so I’m curious how liquid my AGE really is.
Thanks!
A decent dealer should offer spot to maybe $25 over. So you need to keep tabs on the ones in your area. A lot depends upon the market. If prices are high there are usually more sellers than buyers and when prices are low there are more buyers; at least that's what one dealer said. Watch APMEX to see if they list a buy price. Regardless, there's a lot to be said for walking into a shop and walking out with cash or a good check. Shipping isn't cheap, plus there is risk of loss in transit as well as risk of return esp. if PP or some other payment venue is involved.
Comments
I'm guessing your down quite a bit on that gold right now. If liquidity is an issue, cash is best, some dealers can smell desperation and might low ball you.
the premium on ASE is $2.00
Nah I’m not down or out right now nor am I desperate to sell it.
I was only asking in case there was an event where I would need to sell it.
Right now I have more than enough liquid cash to cover my needs and even if I did need more money I would probably sell a few stocks unless I could get spot or more for my AGE.
nm
A decent dealer should offer spot to maybe $25 over. So you need to keep tabs on the ones in your area. A lot depends upon the market. If prices are high there are usually more sellers than buyers and when prices are low there are more buyers; at least that's what one dealer said. Watch APMEX to see if they list a buy price. Regardless, there's a lot to be said for walking into a shop and walking out with cash or a good check. Shipping isn't cheap, plus there is risk of loss in transit as well as risk of return esp. if PP or some other payment venue is involved.