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Where does Apmex get all of those high dollar collector coins?
TennesseeDave
Posts: 4,910 ✭✭✭✭✭
I was looking around on EBay and noticed that Apmex has all kinds of nice graded Dollars. Proof Morgans, Early Bust, and even a Certified Gobrecht dollar. Where do they get that stuff? Is that stuff people have sent in to be melted? https://www.ebay.com/sch/Dollars/11975/m.html?item=122771856009&hash=item1c95c5da89:g:eEEAAOSwWudZd1bz&_ssn=apmex
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I have sold them coins at shows and they paid up.
They offered me a whopping $700 for a $2,350 coin.
Desperate sellers?
It’s hit or miss with them. Some items they pay up for while others they don’t since they don’t have the customers for those items. One can tell that they pay well since there is always a line of dealers waiting to sell to them at any show that I have been to. At the last one, I saw people with stacks of Morgans, gold, and platinum eagerly selling to Apmex.
Home Shopping ?
Apmex knows exactly what potential customers search for on their site. If you know what people are looking for, you get those coins.
It would be an interesting experiment to get hundreds of people to go do different sites and search for some weird obscure coin, and see if they don't appear in their inventory at some point.
It seems that they do have quite an inventory.... buying at shows is one source. I also was told that they have purchased stock of dealers closing shop....I would not think it was a 'total' buy, but likely all the silver and gold stock.... Cheers, RickO
One can tell that they pay well since there is always a line of dealers waiting to sell to them at any show that I have been to.
Sounds like Leon's table at shows, back in the day......
Ok, I'm glad to hear that it's not coins they get for melt value from unknowing customers.
X
They actually get (nearly) all of their coins over $5k on consignment from other dealers. Their rare coin department has no problem buying cheaper items, but the management has them stay away from more expensive items, thus they simply get a lot of that type of material on consignment. In fact, in most cases the dealers have to ship the item to them if they sell it, so overnight fulfillment is nearly impossible for them.
That's where I had the experience. I was selling a high grade GSA NGC certified Carson City Morgan dollar. Another dealer was buying for $2,350 and APEX offered $700. I ended up selling above both prices. So I'm very satisfied with APEX from a buying perspective, selling is another story. I believe the more common - the easier and better they are.