Care to weigh in on what a competetive offer would be ... ?
mirabela
Posts: 5,079 ✭✭✭✭✭
Hey, folks --
thinking of bringing the following down to the Devens, MA show on the weekend with the thought of selling. Looking for
a) suggestions as to which table(s) would be good places to shop this stuff to, and
b) what a competetive offer would look like.
I can look up spot prices and auction results as well as the next guy, but haven't sold bullion into the present environment yet so a little out touch with current buy/sell spreads.
Canada $50 1 oz gold Maple Leaf, 1990 BU
1898-S $20 Liberty PCGS 62
APMEX silver 10 oz bar
Republic Metals Corp silver 10 oz
JM Bullion 1 oz silver rounds (10 total)
Republic Metals Corp 1 oz silver rounds (10 total)
Franklin half dollars (90%, generic circ) $20 FV
I understand optimal outcomes might involve multiple deals. Feel free to make suggestions.
Thoughts?
Thanks!
Comments
I suspect you’re selling this stuff is because you’ve owned it for a while. You shoot yourself in the foot attempting to hold out for every cent. I am usually successful by leaving just a couple dollars on the table and everyone is happy, in other words take your best offer. You know current gold and silver spot you’re not going to accept lowball offers if that’s what is being offered at the show. I tried to get $40 an ounce for (30) one once high relief Kangaroos here on the boards, no takers. JM Bullion gave me $39.03 ea.
Regarding your MS62 $20 Lib. Anything above melt is doing good. Look at GC results for $20’s last Sunday. Look at the hammer price ( the price the consignors receive) those prices were $200+ below melt in most cases for common coins and some detail $20’s closer to $300 below melt.
the one guy i liked at these shows has been absent from dedham recently , i don't remember his name but he was usually a solid buyer.
I meant to get up to devens to look for him but probably wont this show
when old coin show guys suddenly aren't there its usually not a good sign
Not familiar with that show so don't know how many dealers attend. Back in October I was able to sell some 1oz Maples at a show for about $20 over spot. This was when gold was around $2600 and I had to try 5 or so dealers to get past the lowballs. Common date slabbed double eagles to a dealer you are probably looking at melt value at this time.
I would expect your bullion gutter metal to be about 10% back of spot, the 90% junk close to melt since they are halves. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
someone posted a mixed lot of silver over on the US coin BST and it went pretty fast
selling at a show should bring better price than walking into a shop. there is competition among buyers at a show.
Capital investment depends on confidence. - Martin Armstrong
When I stop in a the Baltimore Whitman on Thursday I will be breaking along an extruded silver 100 oz Engelhard to sell.
derryb, I will compare what I am offered to what I can get at my local coin shop.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
Spot -$1.50 on the 100 Engelhard would be my max guess.
From my show experiences (in general), I have courted offers from dealer tables as well as the floor from collectors visiting the said event. In general, I usually go in with an ask in mind based on my costs and/or current market conditions. As is, have an amount that you are comfortable selling at and shop to as many tables/dealers as you have the energy to visit and naturally take the best deal. For me, a competitive offer is one that meets or exceeds my sales expectations. In general, you will probably receive similar offers (+/- a few percentage points) as most dealers and sellers utilize similar reference materials when placing offers if interested in said items, so I strongly recommend shopping to as many parties as possible to yield the best results (if any).
🇺🇸 Harlequin
harlequinnumismatic@gmail.com
that's the question. what's a fair offer each thing in that list?
I wound up selling in three separate transactions for 2.8% better than my must-meet price and about a half a percent below my most optimistic target. Lowest offer I got was for the whole lot, about 6.5% back of what I ultimately cleared.
Which metal outperformed your expectations the most?
I knew it would happen.
The silver rounds & bars did a little better than I thought they would.
there is an invisible premium with a lot of this stuff that is hard to quantify. Some stuff might carry a negative premium in dollars but is so simple and trouble free to sell that its a better buy.
With gold everyone can say AGE's are the best in theory but at 3000+ an ounce I dont think they are easy to sell. Getting cash from a buyer for more than one is no simple task. Being forced to take a check then wondering if its going to clear is an issue.
I had always stuck with fractionals because I assumed gold was going up and it would become more difficult.
If you sell even a single gold sovereign on ebay per year you are going to get a 1099, or regular paypal for that matter
To your point, I was somewhat surprised when the guy who thought my offer price was fine on the two gold pieces reached around behind him and plonked down payment in full in cash.