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Monster Box Question

jimqjimq Posts: 253 ✭✭✭

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!

Comments

  • JDsCoinsJDsCoins Posts: 135 ✭✭✭

    If you sell ever I am buying :smile:

  • derrybderryb Posts: 36,018 ✭✭✭✭✭
    edited January 3, 2023 1:11PM

    tubes
    You should have complained to bullion direct immediately upon receipt of loose straps.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • blitzdudeblitzdude Posts: 5,290 ✭✭✭✭✭

    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™.

  • DeutscherGeistDeutscherGeist Posts: 2,990 ✭✭✭✭

    What is the definition of gutter metal?

    "So many of our DREAMS at first seem impossible, then they seem improbable, and then, when we SUMMON THE WILL they soon become INEVITABLE "- Christopher Reeve

    BST: Tennessebanker, Downtown1974, LarkinCollector, nendee
  • DeutscherGeistDeutscherGeist Posts: 2,990 ✭✭✭✭

    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.

    "So many of our DREAMS at first seem impossible, then they seem improbable, and then, when we SUMMON THE WILL they soon become INEVITABLE "- Christopher Reeve

    BST: Tennessebanker, Downtown1974, LarkinCollector, nendee
  • derrybderryb Posts: 36,018 ✭✭✭✭✭

    @DeutscherGeist said:
    What is the definition of gutter metal?

    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.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • DeutscherGeistDeutscherGeist Posts: 2,990 ✭✭✭✭

    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.

    "So many of our DREAMS at first seem impossible, then they seem improbable, and then, when we SUMMON THE WILL they soon become INEVITABLE "- Christopher Reeve

    BST: Tennessebanker, Downtown1974, LarkinCollector, nendee
  • derrybderryb Posts: 36,018 ✭✭✭✭✭

    @DeutscherGeist said:
    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.

    actually it is the seller who is in the gutter, not the metal

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • blitzdudeblitzdude Posts: 5,290 ✭✭✭✭✭

    Keep dreaming you> @derryb said:

    @DeutscherGeist said:
    What is the definition of gutter metal?

    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.

    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™.

  • PerryHallPerryHall Posts: 45,199 ✭✭✭✭✭

    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.

  • softparadesoftparade Posts: 9,266 ✭✭✭✭✭

    @DeutscherGeist said:
    What is the definition of gutter metal?

    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

  • jimqjimq Posts: 253 ✭✭✭

    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!

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    @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

  • PerryHallPerryHall Posts: 45,199 ✭✭✭✭✭

    @softparade said:

    @DeutscherGeist said:
    What is the definition of gutter metal?

    COPPER

    These guys calling silver gutter metal are misinformed. The day I see a SILVER gutter system I'll take my words back ;)

    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.

  • derrybderryb Posts: 36,018 ✭✭✭✭✭

    @jimq said:
    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!

    JM Bullion is paying 3.75 over spot. What price did you get?

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • jimqjimq Posts: 253 ✭✭✭

    @derryb said:

    @jimq said:
    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!

    JM Bullion is paying 3.75 over spot. What price did you get?

    A lot less than that! Thanks, I'm going to see if that works - locally I was closer to $20 each :)

  • derrybderryb Posts: 36,018 ✭✭✭✭✭

    @jimq said:

    @derryb said:

    @jimq said:
    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!

    JM Bullion is paying 3.75 over spot. What price did you get?

    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?

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • MWKMWK Posts: 57 ✭✭✭

    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.

  • jimqjimq Posts: 253 ✭✭✭

    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!

  • jmski52jmski52 Posts: 22,265 ✭✭✭✭✭

    In this market, I wouldn't even think of selling for less than melt.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derrybderryb Posts: 36,018 ✭✭✭✭✭

    @MWK said:
    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.

    I price them both the same. It's what's in the tubes that matters.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • RobMRobM Posts: 527 ✭✭✭
    edited January 4, 2023 12:17PM

    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).

  • derrybderryb Posts: 36,018 ✭✭✭✭✭

    Do sales to a large dealer get reported to the IRS by the dealer?

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • RobMRobM Posts: 527 ✭✭✭
    edited January 4, 2023 1:30PM

    @derryb said:
    Do sales to a large dealer get reported to the IRS by the dealer?

    *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.

  • MetroDMetroD Posts: 1,914 ✭✭✭✭✭

    Buyback Reporting Requirements from the JM Bullion website.

  • blitzdudeblitzdude Posts: 5,290 ✭✭✭✭✭

    @RobM said:

    @derryb said:
    Do sales to a large dealer get reported to the IRS by the dealer?

    *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.

    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™.

  • derrybderryb Posts: 36,018 ✭✭✭✭✭

    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.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • cohodkcohodk Posts: 18,495 ✭✭✭✭✭

    @derryb said:

    @jimq said:

    @derryb said:

    @jimq said:
    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!

    JM Bullion is paying 3.75 over spot. What price did you get?

    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?

    Premiums??? HAHAH

    Counter-party risk!!!

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,018 ✭✭✭✭✭

    @cohodk said:

    @derryb said:

    @jimq said:

    @derryb said:

    @jimq said:
    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!

    JM Bullion is paying 3.75 over spot. What price did you get?

    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?

    Premiums??? HAHAH

    not with lowballers

    Counter-party risk!!!

    not with lowballers

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • cohodkcohodk Posts: 18,495 ✭✭✭✭✭

    @derryb said:

    @cohodk said:

    @derryb said:

    @jimq said:

    @derryb said:

    @jimq said:
    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!

    JM Bullion is paying 3.75 over spot. What price did you get?

    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?

    Premiums??? HAHAH

    not with lowballers

    Counter-party risk!!!

    not with lowballers

    The OP shopped around. When does a "lowballer" become the norm?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • blitzdudeblitzdude Posts: 5,290 ✭✭✭✭✭

    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™.

  • derrybderryb Posts: 36,018 ✭✭✭✭✭
    edited January 6, 2023 7:15AM

    @cohodk said:

    The OP shopped around. When does a "lowballer" become the norm?

    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.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • jimqjimq Posts: 253 ✭✭✭
    edited January 6, 2023 7:02AM

    @derryb said:
    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.

    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.

  • derrybderryb Posts: 36,018 ✭✭✭✭✭
    edited January 6, 2023 7:12AM

    this comment was adressed not at you, but at another individual here. He knows who he is.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

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