Vistor from the PSA board - Asking for advice.
ndleo
Posts: 4,190 ✭✭✭✭✭
I have 3 of the large Mexican Gold 50 Pesos Coins, the 37.5 gram coins. I bought them at the Long Beach Show from a dealer several years ago. What is the best way to sell them? Do I need to have them graded or is raw OK? Thanks in advance.
Mike
1
Comments
BST and Precious Metals forum... Post good pictures and references
And prices
They are extremely likely to be bullion coins, which need not be graded.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Assume they are bullion. Trust will be an important two-way street here - both sides need to trust each other under the circumstances.
Not sure is local Coin Store is an option?
Thanks for the advice. I live in the Pasadena, CA area. There are a few coin shops around town, is it like the card hobby where the store only gives you 50% value? I was going to wait until the next Long Beach Expo.
All of BST sales are on the sportscard side and I have spotless ebay record (over 5000+ sales), so I don't know if that helps. These were a one time deal for me, couldn't find enough cards to buy so I ended up falling for the big gold coins!
Mex 50 Pesos have 1.205 oz. pure gold in them,
assuming they're genuine.
You can expect to get about 93%-95% of melt from
the right buyer.
I assume that if they are just bullion then there is a small spread that is fairly standard. No idea what it is, but buy/sell spread should be far less than 50% on bullion. I expect that a LBE would be a slam dunk to get a fair price, especially since they probably just turn that stuff over constantly. I trusted local dealer might be the same.
Precious Metal forum: https://forums.collectors.com/categories/precious-metals
Coin BST forum: https://forums.collectors.com/categories/buy-sell-trade-u-s-coins
I also recommend the BST.... I have had an excellent history of purchases there. Cheers, RickO
This helps a lot. I will list them on the BST board first to see if there is interest.