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Best way to sell MS 63 Saints
jkrk
Posts: 967 ✭✭✭✭✭
If I was not in a rush to sell 10 MS 63 Saint common years which method will net me the best return?
1)Sell as a lot through E-Bay.
I would save on shipping (Registered) and I would save on Final Value Fee if I waited for a promo. Paypal would still take a full fee.
2)Dealers locally (NYC) / show. I would save on all fees but I wonder what they would pay for generic gold coins?
3)internet dealers - My only cost would be registered mail. Do they pay a somewhat higher price versus a local dealer?
4)Ebay - Promo - sell one at a time. My guess - best result but not without a time/effort?
Am I missing something?
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BST
Cash.
Most of these go for a little over gold value now, unfortunately. Post the on BST, several here would be interested.
Dealer buy-sell spreads should be narrow enough, such that you can net more via direct sale than through auction (including Ebay). I would suggest checking with a few local and national dealers to see what you can get for them. Based on what some dealers are asking for such coins, my guess is that you wont get much over melt for them.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I'd check at a local dealer. You're talking about $13k, not something I'd want to take a risk on or pay a 10% seller fee. Apmex currently sells random MS63's at $1350 for reference.
Collector, occasional seller
BST and throw a link from the PM forum, too.
I'd sell them here, especially if you're not in a rush. At the right price (a little lower than the big dealers are selling them for) they'll be gone soon enough.
Best way to sell MS 63 Saints.
as bullion.
List here and at the NGC page, and I would also put them on your local Craigslist. If Craigslist, always get a phone number and verify it as legit with a test text, do a search for their name in Google, meet in a public place that has video cameras, like a Dunkin Donuts, and if properly licensed, be armed. I have had very good luck buying and selling coins from Craigslist, and met some collectors I have made several deals with over the years. Your local police station may also offer the opportunity to conduct a deal in their waiting room.
They are bullion. Dealers are probably paying $15 back of melt as they sell them for maybe $25 over melt. With those spreads, I doubt BST is better as you have to ship with risk of loss and you'll need a wire transfer or check to avoid PayPal fees. And, personally, only your best friend would send you a wire transfer or check for $12,500
Now, if you don't have a dealer nearby, you might try BST
With such a low post count, I'm not sure that anyone here will send you a check for thousands of dollars for your Saints. We've had several cases where a forum member bought coins on the BST and the seller kept the money and never sent the coins.
Worry is the interest you pay on a debt you may not owe.
Figure out the buy-sell spread at Heritage or Apmex, taking into account that you're paying shipping, then offer them BST for a little more, but still below their ask prices, but only with fee-free payment.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars
Hope this helps you for starters:
best to sell as 1 lot to a big dealer like apmex... already went route... selling 25 saints couple years ....get several quotes..be prepared to get low balled alot
ps …. sounds like you are in a rush to sell ..don't tip it to buyers
Your lcs
Thanks for all the advice.
A rush to sell them? No.
I do makes sales from time to time. I'm always looking for new ideas.
If I have to sell them near melt .... I sell gold futures instead and collect the juice.
The sad part is some of these Saints that are in MS-63 holders are nice collectable coins for someone who is going for an eight or twelve piece type set.
Pls help me out.... The Math is giving me trouble.
How many Saints can I buy $25 over melt?
Assuming gold is $1285 x .9675 = $1243 . Is that the melt price?
Therefore, can I buy a vast number of graded 63 Saints for $1268?
A collector coin available for a marginal fee over spot? I see that as something to be happy about.
Collector, occasional seller
The op can sell 1, 2, 3 coins on bst to gain trust. If they go smoothly then the remainder would be easy to sell.
Many of us earned trust by buying/selling on bst starting from square one, me included.
As others have said,-- I would keep them unless you need the money for something else.
Not if the coins are getting scrapped.
$1410 on eBay right now. Factor in the inevitable 10% eBay Bucks deal and you're at $1269. That's without APMEX running a special, which they often do.
Smitten with DBLCs.
Ebay would be a major loser in most cases on these, who would want to pay a 10% premium on common date Saints unless they have rocks in their head?
Cac will pay you a premium if they sticker; I did that with a group a few years ago when their premium was greater. Collectors only pay for coins that sticker but still get hit with shipping to/from unless you sell them to cac. If the coins were bought from a telemarketer chances are they are not premium coins.
No one said anything about scrapping.
I don't think anyone on this planet would scrap an MS63 Saint. Maybe I am naive.
Collector, occasional seller
I agree. If you factor in Ebay + Paypal fees (at least 9%). and/or you factor in what a dealer will buy it back of spot (Probably $50 or more). Split that difference and sell it on the BST boards. You make more than you would on Ebay and the buyer gets a lower cost than anyplace that retails generic gold.
Keep them unless u need the money. Selling auction or eBay the fees eat you up.
Otherwise I would shop them around a show for cash or better yet take a table.
CDN bid is around $1280 (CPG is $1600) for a 1927 in MS 63. I would pay over bid at my next show if it walked up. I think folks buying these putting away. The bid in sheet around $40 over melt. Seems really absurdly cheap. Do you have other coins? Enough to fill up a case at a show? My table fee for upcoming show was $175. Have you considered taking a table at a show or sharing with a friend that cuts cost in half. You have a good basis for a beginning inventory. Or is this a situation where your liquidating out of Coins altogether. Many people looking for these including myself (the allure of slabbed USGTC close to melt!) - walk the floor and see what your competition selling theirs for then beat their price by a few bucks. From my table I would be there to get over bid. At a recent show a guy bought Mexico BU raw 50 pesos from wholesaler around melt (raw gold not for me). I got $450 (CU retail $510) for a PCGS common MS62 $5 Lib (had $325 in it from Aug 2018 Bellaire show) sold to restaurant owner with wad of cash that walked up. I bet he would have seen your slabbed Saints as more desirable.
Your optn 2 - show dealers best but you need get feel of market what they really paying. I would want cash.
Bought a 63 saint on ebay for net 1195 last quarter
Yes, you can. Greysheet is 1297 and that's too high. Call Apmex and ask for a quote on ten 63 saints and offeroffert pay by wire transfer. I'll bet they are at 1275 tops. Sometimes they run ebay sales at $40 over when they have a lot.
You might even try Stacks ur Heritage. They are often overstocked with them and offer to pay consignors in them at favorable prices
Unfortunately, they are widgets
Fair point. I forgot about the cap... Nonetheless, as you know, the planets do align on a fairly regular basis.
Smitten with DBLCs.
It seems like some people search out really good deals, my experience shows that for the average person to try to buy one, usually $1350-1400. My LCS sells 62’s sometimes 63’s at melt plus 10%, really just a bullion play...I feel pretty good when I can add a decent looking one at melt plus 5% or at about $1300. So if you were patient, you may get that from the bst, as it would be better than some could do at their LCS. Otherwise, you are likely looking at selling them below melt to a dealer.
There are more than enough dealers who will gladly pay considerably more than “(Probably $50 or more)” back of spot.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Shhhh...dealers are the enemy. They are all crooks. LOL.
Most dealers I know are buying them at $25 back or so and, if they are lucky, getting $50 or so over. Only business in the world where it is considered criminal to lay out $1250 to make $75!
Dealers have buying and scraping modern commemorative gold coins for quite a while. Now that St, Goudens gold can be bought for less than melt, and the buyers don't see much of a chance of making more than a minor mark-up, a quick buck can lead to the melting pot.
They get scrapped, but do they ever actually get melted? I mean, don't they just continue to trade as scrap like 90% silver. To refine it to 0.9999 isn't cost effective if you can ship it as 22 kt coin.
P.S. Not that I'm opposed to melting them. Decreasing supply might be good for the coin market
Well, It came out wrong. Not spot price, but blue book, grey book, pink sheets or whatever wholesaling pricing guide you dealers use. If you get a good price from a dealer, that is also a solid route to take.
For generic gold, dealers do give out very fair buy prices. My business lays out tens of thousands (payroll company) to make dollars, so allow me to take out my fiddle for you.
My recent 62 Liberty $20. bought from a dealer. If I add a few more hits to it, send it to PCGS will they grade it a 67 like the Supernova Gold? Gotta put in a wink lest I offend someone with that comment
Those saying sell as a lot to one wholesaler are absolutely right.
Do not do craigslist!
With coins that are near melt, like modern gold comments, I’ve been satisfied with the offers from a bullion dealer at a local show. You would get a bit more from the BST. But with the show dealer you eliminate all the risk, hassle, shipping, etc. and you walk away with cash that day. To me that's worth leaving a little money on the table.
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i always sell my high end stuff when e bay has a $10 flat rate final value fee for any value. this promo only happens once a year so take advantage of it
I would bet your gross margins are much higher than 6%
RIGHT! You might meet in a public place, but after the deal goes south, they'll follow you home and come back for them after dark...
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Hold for a spike in gold (one that lasts more than a few hours)... It will go up again... Cheers, RickO
The BST can give you the "feeling" that you're selling them.
This is very straight forward, what is your time worth and how much risk are you willing to take. If you are willing to take significant risks and are willing to spend a lot of time, you might be able to pull an extra few hundred dollars, sell them on your own through BST or whatever. If you want this done quickly and cleanly find a dealer willing to pay levels 1250+- and be done. That price is insanely cheap but seeing as they are selling at 1300 (and if you wanted 50+ I bet they would do better) the spread makes sense.
BINGO!