Best buyer for Gold and silver in QTY?
Clackamas1
Posts: 1,005 ✭✭✭✭✭
I am going to unload gold maple leaves and about 10K oz's of silver. The silver in a mix of monster boxes (RCM) mostly with 2K oz in RCM bars (10x100 and 1 1000) and 6 bags of $500 face US silver. The bids I have had from APMEX were less than impressive and had near zero premium that they charge. Who do you think will have the best buy prices? Thank you in advance.
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Didn't you just do this last year and the year before? You had multiple threads about it, try the same places you sold to then. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Try JM Bullion
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
JM was pretty good 2 years ago. Their offers suck right now. So does APMEX (even worse). Both are bidding below spot for maples but selling for +3 or more. If someone finds a decent buyer, let me know. I have some to unload at spot to spot +1 as well.
Thats just it the market is full of sellers. Why would they bid strong for anything? Dealers are selling 90 below melt to each other on some of the networks. I say take your profit on the spot increase and not care about premium in these markets. That is unless your hedging.
From my experience, Canadian bullion has always received less premium than their US AGE & ASE counterparts.
Vermillion Enterprise- Check them out on YouTube. They are based in Florida. Stronger buyers of junk and bars (I think) over Apmex and JM.
I get what you’re saying, but maples and krugerrands shouldn’t be bought below melt.
I also shouldnt be melting numis gold, but reality is a saturated market drops premiums. Gold maples and krugerrands are two very different gold investments. Different taxes and import/export taxation depending on country. Maples are IRA eligable, I dont believekrands are. Even with all those differences most maple bids are 5 to 10 over spot and krands 99 to 99.5.
I was able to get about spot for some 1oz gold bullion this week. I had to work pretty hard to find someone willing to pay that. Most offers were 3-6% behind spot. With the rapid recent price increase it's certainly not a sellers market for physical. I was more than happy to get what I did because this time last year I was buying gold for about $900 an ounce less. It's also the reason I love the ETFs such as GLD and SLV. Click the mouse and done, same premium when I bought as when I sold. $0. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
It does and the same is true on the buy side, hence that is why I bought them. The quality of the RCM is second to none.
I haven't checked around for comparison purposes, but Scotsman in St. Louis looks to be paying $50 over spot depending on quantity for gold Maples.
https://scoins.com/pricelist/tradingsheet.aspx
I knew it would happen.
I know ACE is paying more on some of this stuff. Call first.
They pay 98% on a lot of gold.
https://azcoinexchange.com/buylist.htm
Your link shows he's paying about $50 under spot for GML.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
That is what I am talking about. I have 10 coin sealed tubes, as high a quality as they come, not ratty old bullion.
Last time I sold a $5 comemerative local I got the double screw - nobody likes them and my dude had locked in an oz/price deal with his refiner. Was buying to sell in store and not go to the refiner at the amount he locked into with the price rising after he locked after it dropped a bit. I took a hit but it needed to go, but it was a swap piece for some silver when it popped in 2010/11 so I wasn't into it for much.
I think the Scotsman buy prices might be an error. They are listing sell prices below the buy price.
Best bids I got for silver was spot. Gold bid was slightly below spot-5%.
I think fideltrade buy price is a few dollars over spot for gold maples.
No they are not. GML:
Buy 1-9ozt $2676.14
Buy 10ozt+ $2678.14
Sell 1-9ozt $2764.14
Sell 10-49ozt $2761.14
Sell > 50ozt $2757.14
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
The Sell lines are clearly "below" the Buy lines, but the prices are higher. LOL
My US Mint Commemorative Medal Set
Buy from you
Sell to you
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I have bought a few RCM 10-troy-oz silver bars for use at my mint. After rolling them out to planchet thickness, punching some blanks out of it, and re-melting and pouring the leftover webbing, I can tell that the RCM bars are very well made and the silver is high purity.
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how often are you doing that with rcm bars??? one time thing or on the regular schedule???
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I have done it on several occasions, but not on any type of regular schedule. It depends on the project I am working on and the local availability of these (or other) bars.
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Is anyone concerned premiums could be affected by a public company that has slowly been buying, or making investments in a lot of the direct to consumer companies that are routinely mentioned as go to sites for buying or selling gold and silver.
The same company, owns Silverstone Mint, 45% of Sunshine Minting, and just announced the purchase of substantially all of the assets of Regency Mint.
They are also Authorized gold and silver distributors for virtually all of the Major World Mints.
The reason I am bring this up is it seems if we are going to buy or sell PMs we should understand that JM and Provident among others are owned by the same company and most likely working from the same distribution centers and inventory systems, so comparing premiums with related companies probably doesn't make a lot of sense. Maybe we should take the time to time to understand the relationship between the companies before shop for the best buy or sell prices.
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That is interesting. I didn't know that A-Mark (owner of SilverTowne) had purchased Regency Mint. Some years ago I would occasionally purchase silver/copper/brass blanks from Regency Mint for use at my mint. But there were some problems with that and so for the last several years I have been fabricating all my own blanks. Looking at SilverTowne's minted products, I think they could benefit from investing in sculpting and engraving capabilities.
Consolidation in the industry will not adversely affect my situation. In fact, I would probably benefit from it.
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