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Monster Box Question
jimq
Posts: 256 ✭✭✭
I usually collect cards but also have a little PM so here's my question for all of you who know more than me. I have a Monster Box that I bought from Bullion Direct right at the end. I didn't know if they pulled any funny business because the Mint straps were very loose, so I took them off and looked inside. Sine then I have had all coins tested with an XRF and they were good. If I go to sell this, it's no longer a sealed box. What should I sell it as? Coins,Tubes, Open Box? I think they're 2014. Thank in Advance!
1
Comments
If you sell ever I am buying
tubes
You should have complained to bullion direct immediately upon receipt of loose straps.
Give Me Liberty or Give Me Debt
You will probably get slightly more selling individual tubes of gutter metal then you would selling the whole box at once. But then you have to deal with 25 individual transactions. Guess it all depends on where and how fast you are trying to unload. I typically sell by the roll. Good luck. RGDS!
The whole worlds off its rocker, buy Gold™.
What is the definition of gutter metal?
BST: Tennessebanker, Downtown1974, LarkinCollector, nendee
If the tubes themselves were never opened, you can sell as tubes directly removed from sealed Monster Box. That would be transparent. Some buyers may buy multiple tubes at once, so it would not necessarily be 25 separate transactions.
BST: Tennessebanker, Downtown1974, LarkinCollector, nendee
Metal that was bought at the wrong price and sold at the wrong price. Ask Blitzdude to post a pic of some of his gutter metal.
Give Me Liberty or Give Me Debt
gutter metal = precious metal products bought very expensive and then sold for very cheap; timing of buying and selling was way off.
That is how I understand it now.
BST: Tennessebanker, Downtown1974, LarkinCollector, nendee
actually it is the seller who is in the gutter, not the metal
Give Me Liberty or Give Me Debt
Keep dreaming you> @derryb said:
Sorry you overpaid for you gutter but can't say that we didn't try to warn you. You nailed it again Ace. RGDS!
The whole worlds off its rocker, buy Gold™.
I thought "gutter" was a term used by a troll to disparage silver.
Worry is the interest you pay on a debt you may not owe.
COPPER
These guys calling silver gutter metal are misinformed. The day I see a SILVER gutter system I'll take my words back
ISO 1978 Topps Baseball in NM-MT High Grade Raw 3, 100, 103, 302, 347, 376, 416, 466, 481, 487, 509, 534, 540, 554, 579, 580, 622, 642, 673, 724__________________________________________________________________________________________________________________________________ISO 1978 O-Pee-Chee in NM-MT High Grade Raw12, 21, 29, 38, 49, 65, 69, 73, 74, 81, 95, 100, 104, 110, 115, 122, 132, 133, 135, 140, 142, 151, 153, 155, 160, 161, 167, 168, 172, 179, 181, 196, 200, 204, 210, 224, 231, 240
Thanks for your advice! I decided to call a couple local shops so I didn't have to deal with ebay and shipping. I found one dealer who's willing to buy the whole box. Thanks again!
@jimq .... Glad to hear you found a buyer for the whole box, saves a lot of work. Hope you did not have to take a loss. Cheers, RickO
I think gutter in this case refers to the gutter on the side of the street that carries rainwater into the storm sewer.
Worry is the interest you pay on a debt you may not owe.
JM Bullion is paying 3.75 over spot. What price did you get?
Give Me Liberty or Give Me Debt
A lot less than that! Thanks, I'm going to see if that works - locally I was closer to $20 each
$20 each? With spot near $24? What is the name and location of the dealer?
Give Me Liberty or Give Me Debt
Is there really that much a premium for an unopened monster box? With the exception of unusual years, I would have thought that so long as all the coins are essentially untouched and untarnished, the prices would be nearly the same.
If anything, with an opened box, the buyer can visually inspect all of the coins. You kind of have to trust that the U.S. Mint straps cannot be counterfeited with an unopened box.
I don't know about premiums but somebody talked about them maybe being cherry-picked. I'm not insulted by less-than-melt. They have to make $$ too, and their offer was the highest by far in my area.
I'll check with JM Bullion, thanks!
In this market, I wouldn't even think of selling for less than melt.
I knew it would happen.
I price them both the same. It's what's in the tubes that matters.
Give Me Liberty or Give Me Debt
A large bullion dealer currently lists buy price on sealed random year monster box at $13,980. Same dealer offers $27.20 per eagle, which would be $13,600. So as a data point.... A sealed monster box is valued by the dealer as $380, or $0.76 more per coin (not considering the small monetary value of the plastic box and tubes).
Do sales to a large dealer get reported to the IRS by the dealer?
Give Me Liberty or Give Me Debt
*Standard disclaimer: This is not intended to be construed as legal advice. Always consult with a tax expert.
No. You can sell them all the silver or gold Eagles you want and the dealer is not going to give you a 1099-B.
Buyback Reporting Requirements from the JM Bullion website.
It's beyond amazing how many people stack and don't have a strategy as to how they plan to unload that stack. That should be the first order of business before one ever decides to buy. Crazy World. RGDS!
The whole worlds off its rocker, buy Gold™.
It's beyond amazing how many people stack and don't have a strategy that involves how they plan to unloat that stack at a profit. That should be the first order of business before one ever decides to buy. No wonder these same individuals refer to it as gutter metal.
Give Me Liberty or Give Me Debt
Premiums??? HAHAH
Counter-party risk!!!
Knowledge is the enemy of fear
not with lowballers
not with lowballers
Give Me Liberty or Give Me Debt
The OP shopped around. When does a "lowballer" become the norm?
Knowledge is the enemy of fear
Pretty much every retail buyer is a "lowballer". They don't call it gutter metal for nothing. RGDS!
The whole worlds off its rocker, buy Gold™.
a $20 buy price is far from the norm. A lowball buyer will never become the norm as long as there are others offering more realistic buy prices. The OP obviously did not shop around enough if $20 is the best buy price he could find.
Any seller willing to accept a $20 buy price in today's silver eagle market has no business being long in silver eagles. Any dealer paying $20 for silver eagles likely has a shortage of inventory.
Give Me Liberty or Give Me Debt
When I first bought most of my tubes I was having success selling sports cards on ebay. Tubes were 375 to 425 with 25% Bing cashback. So most of my tubes cost me around 300. I thought I could sell them back on ebay as I needed $$ and at least get most of my $$ back.
My bars were nut widely collected but I talked to a local dealer who said he would pay 85% for them. That was in 2008 and 2009, he since retired.
I didn't expect an unstrapped monster box from bullion direct, but no response to complaints and soon I found that i was lucky enough to get them. That monster box cost me almost 9000.
I guess I had a poor exit strategy but I advertised them locally yesterday for the same $2 over I was offered here and sold all of it in a couple hours without having to ship it. Luckily made a couple dollars in spite of having no business being long in silver eagles.
this comment was adressed not at you, but at another individual here. He knows who he is.
Give Me Liberty or Give Me Debt