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What's the safest way to sell a gold eagle? SOLD! Now What?

SaamSaam Posts: 548 ✭✭✭
in Precious Metals
I have a raw 1 ounce gold eagle I want to sell but not sure where to start. I'm kind of leery of trusting the eBayers to send a payment that large and I'm not familiar with many PCGS Collectors Club Members. Are the buyers advertised in Coin World safe or maybe someone has sold to one they might recommend. Any help would be appreciated.

Comments

  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    I can help you. PM sentimage
    Avid collector of GSA's.
  • curlycurly Posts: 2,880 ✭


    Put it on the BST forum, with a price.
    Every man is a self made man.
  • coynclectercoynclecter Posts: 2,111
    I'm kind of leery of trusting the eBayers to send a payment that large


    First off, you are the seller and you dont "trust" anyone. You dont send the coin until the payment is cleared.

    Second , I have sold dozens of items larger than that, its done many times a second on Ebay. I have had very , very few problems.

    Why dont you just come out and tell us what you want for it?
  • SaamSaam Posts: 548 ✭✭✭
    APMEX has an ad in the Jan 18 issue of Coin World that shows they pay spot plus 20, which sounds fair to me. Has anyone done business with APMEX or would some other company pay more?
  • NitroCruiserNitroCruiser Posts: 654


    << <i>APMEX has an ad in the Jan 18 issue of Coin World that shows they pay spot plus 20, which sounds fair to me. Has anyone done business with APMEX or would some other company pay more? >>



    Wish they sold for that.
  • BBNBBN Posts: 3,761 ✭✭✭
    To get full profit sell it on the BST and ask for a money order. Ebay guts any profit you could make. Between ebay fees, paypal fees and shipping that combines for around $100-125

    Positive BST Transactions (buyers and sellers): wondercoin, blu62vette, BAJJERFAN, privatecoin, blu62vette, AlanLastufka, privatecoin

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  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    PayPal gift = no fees
    Avid collector of GSA's.
  • RedHerringRedHerring Posts: 2,077 ✭

    The APMEX price is okay but you have to pay the shipping. There are many people on the boards here who would buy it at $30 over spot if you pay the shipping!

    You've been a board member for over 3 years so this should not be a problem. gsa1fan has bought many items here w/o a problem and so have I.

    I'm not currently buying but to make an extra $20 you can sell it here on BST.
  • CaptHenwayCaptHenway Posts: 32,128 ✭✭✭✭✭
    Have you tried calling your local B&M store, and asking what they will pay?

    We pay spot +$10, and hand you a check while you wait.

    Your mileage may vary.

    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • HalfStrikeHalfStrike Posts: 2,202 ✭✭✭
    Kitco is also safe, you can lock in a price before you ship.

    Kitco buy prices
  • SaamSaam Posts: 548 ✭✭✭
    Thanks for your help! I sold the coin and now I'm faced with my next dilemma. Which American gold coin do you think is the best to reinvest in that would appreciate the quickest or hold its value the best? American Eagle, Buffalo, Double Eagles, Indians.... ect.
  • CiccioCiccio Posts: 1,405 ✭
    First, tell us how you sold it! image

    Then, I would go with the Buffalo, it is an amazing coin!
  • CaptHenwayCaptHenway Posts: 32,128 ✭✭✭✭✭
    Excuse me, but this makes no sense. Why would you sell an ounce of gold to raise money to buy an ounce of gold? Why not just keep the original ounce?
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    First off, you are the seller and you dont "trust" anyone. You dont send the coin until the payment is cleared.

    What makes the "seller" so special? Why is their integrity less questioned than that of a buyer?

    There is not something I fully comprehend. As a frequent on-line buyer of gold coins (incl BST) I find it sort of odd that the seller never quite understands my anxiety as a buyer. In most cases they naturally assume I will send payment, wait for it to clear, then receive the coin. What makes them any more trustoworthy to send me the coin (or the correct coin) once they have the money in hand? I as a buyer have the same concerns that the coin won't be shipped. So as a buyer I probably shouldn't "trust" anyone either. Therefore no business would get done. And in my mind Ebay feedback system, paypal and other such things are hardly w/o risk. I really don't want to send a check until the coin is in my hand.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • CaptHenwayCaptHenway Posts: 32,128 ✭✭✭✭✭
    roadrunner.....
    thank you for explaining the advantages of dealing face-to-face in a B&M store...
    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • SaamSaam Posts: 548 ✭✭✭


    << <i>Excuse me, but this makes no sense. Why would you sell an ounce of gold to raise money to buy an ounce of gold? Why not just keep the original ounce? >>





    << <i>First off, you are the seller and you dont "trust" anyone. You dont send the coin until the payment is cleared.

    What makes the "seller" so special? Why is their integrity less questioned than that of a buyer? >>



    I recently became interested in upgrading some coins in my collection and posted this previous thread in the U.S. Coin Forum. So far, I agree with Ciccio that the Buffalo is probably the best gold coin to reinvest in but thought I would see what other forum members thought. This post should clarify my position to those who don't understand. I have sold coins on eBay for over eleven years but selling gold is new for me.

    My question is a simple one. "Which American gold coin do you think is the best to reinvest in that would appreciate the quickest or hold its value the best?"
  • CaptHenwayCaptHenway Posts: 32,128 ✭✭✭✭✭
    If I might make a suggestion for future reference, if you wish to upgrade a common ounce into an ounce that might be a little bit more collectible, you will generally do better making a trade of your ounce plus some negotiated premium towards the other party's ounce, as opposed to selling the common ounce as one transaction and buying the replacement ounce as a separate transaction.
    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    saam you should have put it on the bst and said that you were willing to trade it and pay any difference. Would have saved you a lot of time.
    Successful Buying and Selling transactions with:

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  • gecko109gecko109 Posts: 8,231 ✭


    << <i>If I might make a suggestion for future reference, if you wish to upgrade a common ounce into an ounce that might be a little bit more collectible, you will generally do better making a trade of your ounce plus some negotiated premium towards the other party's ounce, as opposed to selling the common ounce as one transaction and buying the replacement ounce as a separate transaction.
    TD >>




    Agreed. I have done this exact thing when trading 1/10th eagles for gold pandas. I just negotiated a deal where I got 98% of the gold that I turned in. In other words, I gave 2.3oz worth of eagles and got 2.25oz of pandas in return. Had I done it the conventional way of selling at spot-3% and then buying at spot+3%, I would have ended up with just 2.16oz of pandas.
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    Many great trades on BSTimage
    Avid collector of GSA's.
  • RedHerringRedHerring Posts: 2,077 ✭



    << <i>Which American gold coin do you think is the best to reinvest in that would appreciate the quickest or hold its value the best? >>





    Although I have quite a few moderns, if you can find someone selling AU or MS Eagles or Double Eagles they can be a great buy. Some of the raw, AU coins go very close to spot.
  • jmski52jmski52 Posts: 22,831 ✭✭✭✭✭
    Which American gold coin do you think is the best to reinvest in that would appreciate the quickest or hold its value the best?

    I would consider the Buchanan Spouse Liberty coins when they are available from the Mint sometime this year.
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