what is a fair offer from a jeweler or dealer for gold?

BBN

Reason why I asked was my step father in law's dad recently died leaving 4 one ounce Krugs. His wife went to a dealer and he offered her $1050 each. I told her that was a lowball and she could do better. What would be a fair offer? Thanks

Ciccio

No experience in selling to dealers, but for a Krug in good shape I would ask for at least the spot less maybe 3-5%.
Let's see what the experts say, I am curious too.

derryb

never less than spot unless it's a very large quantity. Even the wholesalers such as Tulving pay over spot for quality items.

gsa1fan

Never less than spot in these times of high demand even on Krugs. Put them on BST for spot. Bet they sell lickty split!

BBN

Thanks guys. It sucks because she is wanting to sell them quick and after just losing her husband of 50+ years she is in no frame of mind to sell these right now. If she doesn't have a tad of patience she sounds like she'll lose $700-800. I'll talk in my father in law and try to have him convence her to not jump in this quick.

tydye

My local guys pay $25 back for them which I think is fair. You can easily get spot here on the BST or other venues. But have having nearly 5K going through the mail can be scary. For a $100 I like the cash and carry method

OPA

APMEX will buy them @ $1,250 per K'rand, based on this evenings spot.
APMEX

same buy back price for random year

APMEX random years 1 oz K'rand

CaptHenway

Our standard buy is spot minus a $10 commission per coin.
TD

BBN

Thanks for your responses folks. She is in Phoenix, AZ. Is there any good dealers that would give her a fair amount in that area?

BBN

Thanks for your responses folks and to the person who PM'd me the name of the gentleman in Phoenix, my in laws send a very big thank you. I thought they had four ounces. They actually had five ounces and she got $1215 per Krug yesterday from that dealer in Phoenix netting her $825 more than what she would have got from the original dealer she contacted.

DorkGirl