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

3stars

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

OPA

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/

Coulport

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

ricko

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

3stars

These were vintage gold pesos. maybe a soft market?

3stars

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.

BLee23

@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.

3stars

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

jmski52

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

That's why they invented the Post Office.

3stars

That's why they invented the Post Office.

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

Jinx86

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.

BLee23

@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.

gsa1fan

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

BAJJERFAN

@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.

BAJJERFAN

@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.

BAJJERFAN

@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.

3stars

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.

BAJJERFAN

@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.

ShadyDave

@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.

3stars

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

BAJJERFAN

@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?

TwoSides2aCoin

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

jmski52

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.