A or B question

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sbeverly
sbeverly Posts: 966 ✭✭✭
in Precious Metals

I haven't been here in quite some time. It's nice to see many of the names here that I remember from before.

My question...I have a customer that wants to pay me in bullion.

The payment is 4 ounces of gold.

My choice... (A) a quantity of 3-- 1 oz Krugs and 10 one tenth oz eagles. or...(B) A quantity of 25--5 gram Pamp suisse bars sequential serial numbers.

I ultimately want to monetize the bullion. Which would you choose and why?

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Comments

  • TomB
    TomB Posts: 23,192 ✭✭✭✭✭
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    Coins.

    Thomas Bush Numismatics & Numismatic Photography

    In honor of the memory of Cpl. Michael E. Thompson

    image
  • Pokermandude
    Pokermandude Posts: 2,713 ✭✭✭
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    5 gram bars. I prefer pure gold, and fractionals carry a premium, I loathe 1 oz Krugerrands. Almost impossible to sell except to melt.

    http://stores.ebay.ca/Mattscoin - Canadian coins, World Coins, Silver, Gold, Coin lots, Modern Mint Products & Collections
  • meluaufeet
    meluaufeet Posts: 768 ✭✭✭
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    When you buy 25, 5 gram pamps, you should have the plastic box with matching serial number sticker on top. I would only take the pamps in the box and if you want to sell small quantities at a time. If not I would take the coins.

  • blitzdude
    blitzdude Posts: 7,726 ✭✭✭✭✭
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    coins, much more liquid. Many many fake bars, most people don't want to deal with them.

    The whole worlds off its rocker, buy Gold™.
    BOOMIN!™
    Wooooha! Did someone just say it's officially "TACO™" Tuesday????
    Retiring at 55, what day is today? :sunglasses:

  • ricko
    ricko Posts: 98,724 ✭✭✭✭✭
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    I would recommend the coins...normally more liquidity than bars. Cheers, RickO

  • AUandAG
    AUandAG Posts: 25,050 ✭✭✭✭✭
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    You have a way to see that it is what it is supposed to be? You can test it?

    bob :)

    Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
  • blackhorse360
    blackhorse360 Posts: 300 ✭✭✭
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    Coins for sure!

  • VanHalen
    VanHalen Posts: 4,330 ✭✭✭✭✭
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    If you are confident in yourself as a buyer and comfortable that your customer is reliable then I would go with the bars.

    As noted above you should get a box of 25 bars in their assay cards like this example: bullionexchanges.com/box-of-25-5-gram-gold-bar-pamp-suisse-lady-fortuna-veriscan-in-assay

  • rte592
    rte592 Posts: 2,235 ✭✭✭✭✭
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    I would prefer the coins.
    Both would be easily liquidated if you dont mind splitting them up.

  • RedneckHB
    RedneckHB Posts: 20,237 ✭✭✭✭✭
    edited February 10, 2019 8:57PM
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    @sbeverly said

    I ultimately want to monetize the bullion. Which would you choose and why?

    C. If this is your intent then just tell him you want Cash. Why fuss with all the added BS? Make life easier.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • thefinn
    thefinn Posts: 2,657 ✭✭✭✭✭
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    Coins. I've seen too many PAMP bars in packages that are fakes.

    thefinn
  • bumanchu
    bumanchu Posts: 1,383 ✭✭✭
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    @cohodk said:

    @sbeverly said

    I ultimately want to monetize the bullion. Which would you choose and why?

    C. If this is your intent then just tell him you want Cash. Why fuss with all the added BS? Make life easier.

    Agreed. However, we do not know enough...maybe this person is cash poor and doesn't want to take an ~5% hit on converting it to cash themselves. Just sayin'.

    And I ain't lying this time.
  • sbeverly
    sbeverly Posts: 966 ✭✭✭
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    Thanks to everyone for their response. It looks like the majority likes the coins for liquidity.

    Positive transactions with Cladiator, Meltdown, ajbauman, LeeG, route66,DennisH,Hmann,FilamCoins,mgoodm3,terburn88,MrOrganic, weg,dcarr,guitarwes,Zubie,Barndog,wondercoin,braddick,etc...
  • Hemispherical
    Hemispherical Posts: 9,370 ✭✭✭✭✭
    edited February 11, 2019 5:47AM
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    Late to the party.

    I know it was not an option in the OP, but coins and cash is another option to consider.

    Coins because they are more liquid and can be sold via more than one channel. The cash because... hard cash cannot be beat and will help to prove how sincere the seller is in the transaction.

    Two cents worth of opinion.

  • Downtown1974
    Downtown1974 Posts: 7,189 ✭✭✭✭✭
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    Of the two options, I’d go with the bars. Normally I would go with the coins, but you lost me at Krugerrand.

  • mapleman
    mapleman Posts: 1,052 ✭✭✭✭✭
    edited February 11, 2019 6:44AM
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    Buyer should be able to convert the bars to certified check. Then buy what you like. If buyer is nearby, cash is king.

    Just MHO. BTW gold is down $8+ this AM typical smack down.

  • asheland
    asheland Posts: 24,545 ✭✭✭✭✭
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    I'd do the coins, especially with those fractional eagles in the mix!

    My YouTube Channel

  • GRANDAM
    GRANDAM Posts: 8,785 ✭✭✭✭✭
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    Do you have a Precious Metals Verifier?

    I would want to check either opition before accepting it. Lots of fakes out there,,,,,,

    GrandAm :)
  • sbeverly
    sbeverly Posts: 966 ✭✭✭
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    My customer decided to pay me in US currency.

    I didn't have any concerns as to the authenticity of the metal. I've known him as well as the dealer from whom he purchased the gold from, for many years.

    I want to thank everyone for their response.

    Positive transactions with Cladiator, Meltdown, ajbauman, LeeG, route66,DennisH,Hmann,FilamCoins,mgoodm3,terburn88,MrOrganic, weg,dcarr,guitarwes,Zubie,Barndog,wondercoin,braddick,etc...
  • Baley
    Baley Posts: 22,663 ✭✭✭✭✭
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    Ah, good ole cash!

    Had a customer who offered to pay me with my choice of ground nutmeg or cotton yarn,

    But we also ended up using money instead. Small world!

    Liberty: Parent of Science & Industry

  • sbeverly
    sbeverly Posts: 966 ✭✭✭
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    I heard a cotton yarn once, but I prefer other stories. B)

    Positive transactions with Cladiator, Meltdown, ajbauman, LeeG, route66,DennisH,Hmann,FilamCoins,mgoodm3,terburn88,MrOrganic, weg,dcarr,guitarwes,Zubie,Barndog,wondercoin,braddick,etc...
  • jmski52
    jmski52 Posts: 24,011 ✭✭✭✭✭
    edited February 15, 2019 6:36AM
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    As much as it pains me to agree with cohodk, I'd have the customer do the legwork and take the risk to convert to cash first, unless he's willing to pay you 5% to 6% to accomplish the conversion.

    Of course, everything depends on how badly you, and he - both want to do the deal.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • RedneckHB
    RedneckHB Posts: 20,237 ✭✭✭✭✭
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    @jmski52 said:
    As much as it pains me to agree with cohodk,

    Ill send you a supply of Advil. :)

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

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