With Gold so High are there Buyers?
braddick
Posts: 24,150 ✭✭✭✭✭
For example, I wanted to sell three PCGS AU58 $20. eagles today. Common dates- such as 1890 and 1904. My local coin shop was out of money and wasn't really buying.
What is the going rate, right now for common double eagles in PCGS AU to MS61?
Is there a premium for the older gold vs the newly minted eagles?
What is the going rate, right now for common double eagles in PCGS AU to MS61?
Is there a premium for the older gold vs the newly minted eagles?
peacockcoins
0
Comments
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
Do they pay a premium for PCGS material?
Is there also a premium for Saints and Liberties?
peacockcoins
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
<< <i>Price them and list on BST here. They should sell FAST for a realistic market price. JMO~Peace, Tim >>
I agree. You'll probably get paid faster and realize a higher price on the BST versus selling to APMEX.
To support LordM's European Trip, click here!
US $20 Liberty Gold - XF to AU - Our Choice
$1230.00/$1300.00
<< <i>Sell them to the retail market either on eBay or the BST. I don't bother with B&M's and dealers to sell PM's....100% complete waste of time. >>
Right. Most of them--B@M stores-- will offer you about 30% under melt.
<< <i>Sell them to the retail market either on eBay or the BST. I don't bother with B&M's and dealers to sell PM's....100% complete waste of time. >>
So, the guy who brought in the 47 100 oz. silver bars Thursday because he wanted to take advantage of the runup in the spot market and got an immediate check for them was completely wasting his time?
TD
<< <i>
<< <i>Sell them to the retail market either on eBay or the BST. I don't bother with B&M's and dealers to sell PM's....100% complete waste of time. >>
Right. Most of them--B@M stores-- will offer you about 30% under melt. >>
Actually, we paid about 3.1% under melt, and flopped the deal for a 2% profit.
TD
<< <i>Sell them to the retail market either on eBay or the BST. I don't bother with B&M's and dealers to sell PM's....100% complete waste of time. >>
When you sell on eBay or the BST, what will the spot price be when the buyer decides what he wants to pay?
TD
There certainly some good dealers across the country we have a couple of good ones for bullion in my area but out of the maybe 8 shops I do bussiness with 1 maybe 2. I've traveled the country and I'd say good shops to bad are maybe 1 in 10 but it's kind of hard to judge since not all shops are interested in all materials. I'd love to visit your shop if I were in the area but lets face it in the 21st century you can get exposer for a coin thoughout the country at a decent fee on boards and auction formats. I really don't think this will hurt the few B&M's that try to please the customers I'm certainly willing to take a little less or pay a little more for a quick service in my area but the key word is "little". Many small coin shops seem to be fronts to get local material cheap. I think you should setup a little website so we can all support you.
We do have a website, www.hjbltd.com, but we generally do not list bullion there because of the fluid pricing.
TD
<< <i>tt.....I object to blanket statements condemning ALL B&M's or ALL coin dealers. Yes, there are some pirates out there. That does not mean that I am.
We do have a website, www.hjbltd.com, but we generally do not list bullion there because of the fluid pricing.
TD >>
I haven't been in your shop since I moved out of Chicago; however, I remember that you have a message board on the wall saying how much you pay for certain items. The price for 90% silver was pretty low. I think you were paying 6X when others were paying 8X.
<< <i>
<< <i>
<< <i>Sell them to the retail market either on eBay or the BST. I don't bother with B&M's and dealers to sell PM's....100% complete waste of time. >>
Right. Most of them--B@M stores-- will offer you about 30% under melt. >>
Actually, we paid about 3.1% under melt, and flopped the deal for a 2% profit.
TD >>
that is very very fair deal for a lot of bullion on all sides of the equation.
with smaller $$$$ items the BST has been the best for me to buy and sell, my experiences with B&M have not been that great. but i do not have a very strong relationship with any one. i think having a good relationship over time will help both the buyer and seller. sometimes the B&M is a buyer, sometimes a seller. a good relationship is essential.
<< <i>
<< <i>Sell them to the retail market either on eBay or the BST. I don't bother with B&M's and dealers to sell PM's....100% complete waste of time. >>
Right. Most of them--B@M stores-- will offer you about 30% under melt. >>
WOW! 30% under melt! I guess I know I wont be going to one of these to sell! Why such a low price? I know everyone likes to make a buck but 30% under!. I wonder why the advertised buy price on sights like AMPEX are above melt Not much above but above just the same. when I sell I sell in amounts between $2000-$5000. When I take into acount the shipping and insurance costs I get at least full melt value selling to AMPEX. Why cant B@Ms do the same?
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
<< <i>
<< <i>
<< <i>Sell them to the retail market either on eBay or the BST. I don't bother with B&M's and dealers to sell PM's....100% complete waste of time. >>
Right. Most of them--B@M stores-- will offer you about 30% under melt. >>
WOW! 30% under melt! I guess I know I wont be going to one of these to sell! Why such a low price? I know everyone likes to make a buck but 30% under!. I wonder why the advertised buy price on sights like AMPEX are above melt Not much above but above just the same. when I sell I sell in amounts between $2000-$5000. When I take into acount the shipping and insurance costs I get at least full melt value selling to AMPEX. Why cant B@Ms do the same? >>
Probably has something to do with volume and overhead. I have no clue what HJB's overhead is, but they are located right smack in downtown Chicago. And I'd be willing to bet my next 5 paychecks that HJB doesnt move 1/5th of the bullion that APMEX does in any given month!
People in big cities need to realize America as a whole isn't Chicago. Chicago's are the exception not the rule in the US. My big problem in going to cities that size is which coin shop is the one (or more) because there will be more watse of times from what I've seen than worth the trips. These boards are good for that kind of stuff.
It's been awhile since I've traveled America but that's what I've seen. Now could these be really good shops if you lived there? Maybe may shops chater to their regulars. I've never really felt to blow off the rest was a good model since may of us do that when we go out of town. To tell the truth I've never seen a coin shop that could meet all of my needs and the alt. forms really help in that reguard.
Hopefully you understand what I'm saying it wasn't meant to slam solid bussiness men with good models and customer service to all.
Rick
<< <i>
<< <i>
<< <i>
<< <i>Sell them to the retail market either on eBay or the BST. I don't bother with B&M's and dealers to sell PM's....100% complete waste of time. >>
Right. Most of them--B@M stores-- will offer you about 30% under melt. >>
WOW! 30% under melt! I guess I know I wont be going to one of these to sell! Why such a low price? I know everyone likes to make a buck but 30% under!. I wonder why the advertised buy price on sights like AMPEX are above melt Not much above but above just the same. when I sell I sell in amounts between $2000-$5000. When I take into acount the shipping and insurance costs I get at least full melt value selling to AMPEX. Why cant B@Ms do the same? >>
Probably has something to do with volume and overhead. I have no clue what HJB's overhead is, but they are located right smack in downtown Chicago. And I'd be willing to bet my next 5 paychecks that HJB doesnt move 1/5th of the bullion that APMEX does in any given month! >>
Most months no, though we did have a single sale of $4,000,000 in gold maple leafs earlier this year! On that one we worked on 3/4th of a percent margin, and delivered the goods to his safe deposit vault.
Our buy and sell prices are negotiable depending on the quantity of precious metals being bought or sold. Since a lot of the purchases are just a few dollars face value and we have to fill out and store city-mandated paperwork on each purchase, the small purchases get the lowest rate.
TD
<< <i>TD that wasn't meant to be a blanket statement. It's meant to make everyone aware to keep your options open. The good coin shop do real good and the 80% of the rest are bad to you have to know what knich they fill in the collecting arena. Some are no more than bullion shops with ungraded raw problem coins. There's on just like that here his prices are fair if that's your game. It's not a shop I'll go to often unless I want to buy and sell bullion.
People in big cities need to realize America as a whole isn't Chicago. Chicago's are the exception not the rule in the US. My big problem in going to cities that size is which coin shop is the one (or more) because there will be more watse of times from what I've seen than worth the trips. These boards are good for that kind of stuff.
It's been awhile since I've traveled America but that's what I've seen. Now could these be really good shops if you lived there? Maybe may shops chater to their regulars. I've never really felt to blow off the rest was a good model since may of us do that when we go out of town. To tell the truth I've never seen a coin shop that could meet all of my needs and the alt. forms really help in that reguard.
Hopefully you understand what I'm saying it wasn't meant to slam solid bussiness men with good models and customer service to all.
Rick >>
Rick,
I wasn't referring to your comment as a blanket statement, but to the ones in the middle of this thread. I have no problem with what you said.
TD
<< <i>
<< <i>tt.....I object to blanket statements condemning ALL B&M's or ALL coin dealers. Yes, there are some pirates out there. That does not mean that I am.
We do have a website, www.hjbltd.com, but we generally do not list bullion there because of the fluid pricing.
TD >>
I haven't been in your shop since I moved out of Chicago; however, I remember that you have a message board on the wall saying how much you pay for certain items. The price for 90% silver was pretty low. I think you were paying 6X when others were paying 8X. >>
For what quantity? If we are paying 8X for $1000 bags, we might be paying 6X for a handful of dimes that require the same amount of city-required paperwork.
Oh, and the other day we bought in some 90% silver that had been taped to cardboard. Was so sticky we could not run it through our coin counter. I just threw it in the melt bin.
TD
$20 Saint Gaudens Registry Set
The B&M shops can pay 8X to 10X face for 90% silver coin while the market is closer to 11X because people don't realize there are better alternatives. They would probably be shocked to find out that at 8X face they were getting socked. One of my locals pays 6X face but then again he rarely gets anything in. The sheisters setting up in hotels typically pay 6X to 8X. The vest pocket dealers that watch the shops who don't pay fair usually will pay 10.0X to 10.5X better and pick off anything in the area.
roadrunner