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What's the normal dealer price for gold bullion when selling?

3stars3stars Posts: 2,285 ✭✭✭✭✭

Most in my area pay 97% of melt. Is this pretty standard?

Previous transactions: Wondercoin, goldman86, dmarks, Type2

Comments

  • OPAOPA Posts: 17,119 ✭✭✭✭✭

    Suggest you check out the "big boys" first before committing to local sellers.
    A couple listed below

    http://www.apmex.com/apmextop40

    https://www.providentmetals.com/buy-back-products.html/

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • CoulportCoulport Posts: 1,087 ✭✭✭

    Not in my area.
    Major dealer pays spot for Eagles and about $4 back of spot for Maples & KR.

    The most money I made are on coins I haven't sold.

    Got quoins?
  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Spot for U.S. bullion is good...many do not pay that...claim handling etc.. And many will not pay more for proof coins, which means they buy to melt for cash. Cheers, RickO

  • 3stars3stars Posts: 2,285 ✭✭✭✭✭

    These were vintage gold pesos. maybe a soft market?

    Previous transactions: Wondercoin, goldman86, dmarks, Type2
  • 3stars3stars Posts: 2,285 ✭✭✭✭✭

    OPA - just checked the Provident buy back prices, and they are about $10 more than the locals (for the whole type set), so I guess the locals aren't so bad.

    Previous transactions: Wondercoin, goldman86, dmarks, Type2
  • BLee23BLee23 Posts: 336 ✭✭✭

    @3stars Call around to all of your local dealers. I sold 25 AGE's earlier this year and prices ranged from Spot -$75 to Spot +$15. I would have lost out on $2,250.00 if I had gone to the low bidder without doing my due diligence.

    Successful BST Transactions: sinin1, Kryptonitecomics, seemyauction, RyGuy, cucamongacoin, holeinone1972, Ciccio, sbeverly, Gerard, Topstuf, Downtown1974, CaptHenway, PerryHall, Barndog, LukeMarshall, Cent1225, commoncents05, Soldi, SurfinxHI
  • 3stars3stars Posts: 2,285 ✭✭✭✭✭

    There's only two dealers within 300 miles of me...

    Previous transactions: Wondercoin, goldman86, dmarks, Type2
  • jmski52jmski52 Posts: 22,814 ✭✭✭✭✭

    There's only two dealers within 300 miles of me...

    That's why they invented the Post Office. :)

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • 3stars3stars Posts: 2,285 ✭✭✭✭✭

    That's why they invented the Post Office. :)

    Unless its free to ship, it would net less than selling local.

    Previous transactions: Wondercoin, goldman86, dmarks, Type2
  • Jinx86Jinx86 Posts: 3,710 ✭✭✭✭✭

    If you're selling Mexican gold peso material the bids will be weaker than if it were from a more respected high demand and purer type of gold.

    I believe we are bidding Mexican Gold at 97% or melt.

  • BLee23BLee23 Posts: 336 ✭✭✭

    @3stars said:

    That's why they invented the Post Office. :)

    Unless its free to ship, it would net less than selling local.

    Not necessarily. You may very well find an offer from a non-local dealer that far outweighs the cost of postage depending on how much bullion you are unloading.

    Successful BST Transactions: sinin1, Kryptonitecomics, seemyauction, RyGuy, cucamongacoin, holeinone1972, Ciccio, sbeverly, Gerard, Topstuf, Downtown1974, CaptHenway, PerryHall, Barndog, LukeMarshall, Cent1225, commoncents05, Soldi, SurfinxHI
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭

    In this market any one buying has to cover themselves some. 97% for that type gold sounds fair these days to me. Shipping -shopping weeks for a extra $10-waiting on payment~yada yada. I'd take it if I was hungry ;)

    Avid collector of GSA's.
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭

    @BLee23 said:
    @3stars Call around to all of your local dealers. I sold 25 AGE's earlier this year and prices ranged from Spot -$75 to Spot +$15. I would have lost out on $2,250.00 if I had gone to the low bidder without doing my due diligence.

    IMO, anything less than spot for AGEs is a ripoff. Around here it can vary from $10 to $20 over.

    theknowitalltroll;
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭

    @3stars said:

    That's why they invented the Post Office. :)

    Unless its free to ship, it would net less than selling local.

    If you're a gambler, you can ship in a bubble pack envelope for < $3 or a flat rate priority envelope for about $6.

    theknowitalltroll;
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭

    @Jinx86 said:
    If you're selling Mexican gold peso material the bids will be weaker than if it were from a more respected high demand and purer type of gold.

    I believe we are bidding Mexican Gold at 97% or melt.

    I don't understand why people even buy that oddball/nuisance gold.

    theknowitalltroll;
  • 3stars3stars Posts: 2,285 ✭✭✭✭✭

    I don't understand why people even buy that oddball/nuisance gold.

    AGE's are boring quite honestly. Same worn out design, no history attached to it. Just a lump of gold. A pre-33 saint, different story.

    Previous transactions: Wondercoin, goldman86, dmarks, Type2
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭

    @3stars said:

    I don't understand why people even buy that oddball/nuisance gold.

    AGE's are boring quite honestly. Same worn out design, no history attached to it. Just a lump of gold. A pre-33 saint, different story.

    I wasn't including Saints or Libs. I was talking about stuff like pesos and even Krands. Things like AGEs, Leafs, Buffalos are a well-known common commodity if you are looking for trusted gold that's easier to sell. I wouldn't buy pesos because it seems like they are a PITA if you want a quick sale. If you're a collector it's one thing, but being a tacker/flipper is another.

    theknowitalltroll;
  • ShadyDaveShadyDave Posts: 2,195 ✭✭✭✭✭

    @3stars said:
    Most in my area pay 97% of melt. Is this pretty standard?

    Yes, my dealer does between 95-98% of melt for any gold... even scrap. It goes up from there depending on what is brought to him.

  • 3stars3stars Posts: 2,285 ✭✭✭✭✭

    What makes you think I'm a flipper? Believe it or not some collectors actually sell stuff now and again.

    Previous transactions: Wondercoin, goldman86, dmarks, Type2
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭

    @3stars said:
    What makes you think I'm a flipper? Believe it or not some collectors actually sell stuff now and again.

    I don't know if you are a flipper nor do I care. I was using the term in a general sense and not directly to you. I shudda said one instead of you're, no?

    theknowitalltroll;
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,283 ✭✭✭✭✭

    Never met a normal dealer. They're all a bit peculiar. Takes one to know one.

  • jmski52jmski52 Posts: 22,814 ✭✭✭✭✭
    edited August 28, 2017 6:19AM

    You may very well find an offer from a non-local dealer that far outweighs the cost of postage depending on how much bullion you are unloading.

    I agree. Some local dealers treat their local clientele as if they were a captive audience. You always have to factor in all of the costs, regardless of whether you sell locally or decide to ship.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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