And anything you sell to a dealer will be below spot. When two private individuals make an exchange at spot value, both win.
-
If you enjoy the forum please consider supporting it by signing up for a NES Membership The benefits pay for the membership many times over.
-
Be sure to enter the NES/Pioneer Valley Arms February Giveaway ***Smith & Wesson SD9VE 9MM***
Investing in PMs
- Thread starter Junior314
- Start date
Rob Boudrie
NES Member
- Joined
- Apr 24, 2005
- Messages
- 49,109
- Likes
- 36,680
Bullion coins that carry a premium may very well sell to a dealer at spot. The rule is "any coin sold to a dealer will be at a lower price than you can buy it for".
JayMcB
NES Member
- Joined
- Aug 8, 2011
- Messages
- 23,249
- Likes
- 117,602
If you are looking for currency for a doomsday scenario, also consider buying some smaller denominations for trade.
Pre-1965 silver coins can work there too.
Pre-1965 silver coins can work there too.
Varmint
NES Member
I've bought a lot of silver quarters from Apmex on Ebay, using the 10% Ebay Bucks deals to get them at spot or slightly below.
90% Silver Coins - $10 Face-Value Roll (Denomination Varies) - SKU #16485
Varmint
NES Member
You can get that price here on Ebay from MCM, one of the big vendors. And you can get 10% cash back when Ebay's running their Bucks deals.
Grab Bag of 5 -Random Year 1 oz American Silver Eagle Coins SKU39414 | eBay
Lot of these Ebay deals are posted in the gold/silver thread.
Varmint
NES Member
Borrow only to invest, don't borrow to consume. There are plenty of ways to borrow money and use it to make more money, like buying a Dunkin Donuts in Massachusetts.
Varmint
NES Member
Had good luck with Gainesville Coins. On the subject, do you guys think sealed and serialized gold bars from a reputable source (like PAMP Suisse below) are as liquid or less liquid than gold Eagles? Maybe it's the dwarf in me but there's something I prefer about bars over coins, even if it's ultimately the same weight.
Be careful where you buys those cause they're easier to fake than a US Mint coin, but sure, as long as you buy from big online names like Apmex or reputable stores it should be safe and easy to sell, though I think coins from recognized mints are the easiest, being the most recognizable.
Varmint
NES Member
Bullion Exchanges has great Ebay prices (without Bucks), but I haven't tried them cause I never heard of them. Will have to try them.
Romokid
NES Member
I have made probably over 1/2 a dozen purchases through them without a hiccup. I actually haven't used/didn't know they had an ebay store. Usually I just went to their website. I was using them before I found APMEX's ebay store, now I'll have to check theirs out.
So got a few 1 oz bars from a Bullion dealer and they came in some sort of shrink wrap? Probably not the technical term for it... but anyways they seemed to have some sort of like coffee stain on them. I'll post pictures here in a minute but I have bought other items from there before with no issues. Anything to be concerned about? I'm not buying them for collectibles.
And since I know it will be asked. SD Bullion.
And since I know it will be asked. SD Bullion.
Ive used bullion exchange a few times. No issues at all and I recommend them.
- Joined
- Sep 10, 2009
- Messages
- 41,854
- Likes
- 79,577
Your post did not mention what precious metal...
Silver (AG) right? If Gold (AU) that would be very, very, very bad.
Why?
Gold does not tarnish, silver does.
The protective sleeves that silver bullion bars sometimes come shipped in are not necessarily "air tight". That is air can get in to the silver and that silver can tarnish.
As a general rule, I remove all silver bars that are sleeved for inspection and weighing.
Many people think that this will devalue the silver but it does not.
Plus, if I ever wanted to sell fake silver bars, the first thing I would do is sleeve them, because there is almost no way to verify purity/weight of the bar otherwise...
Tarnished bars of silver with "coffee-like" stains...
You can also buy at one of the local shows, multiple dealers in one room.
EBW Promotions, LLC
EBW Promotions, LLC
I think I would only buy at a show if I was interested in paying higher prices. Much like gun shows. I just can'r see dealers reducing their prices in such a venue.
I don't pay higher prices, no shipping, pay cash, see what I'm buying before I buy. Here an example gold sovereigns can be had for spot gold x .2354 (weight of gold in the coin) + $5. Using $1282.05x.2354 +5= $306.79 Kitco current quote $316.27 wire/check $329.45 credit card before what ever their shipping charges are plus i don't see the coin until they have my money.
40 or more dealers in the room plenty of choices, you can save if you look around.
Also most of the dealers don't have stores, all they do is shows.
When I buy online I almost always buy items with no shipping charges and I pay off my charges every month - NO interest paid.
If these shows are so much better than any other means of buying, my experience tells me that they are in the tiny minority.
YMMV.
If these shows are so much better than any other means of buying, my experience tells me that they are in the tiny minority.
YMMV.
That was me, and I was wrong. He didn't close, he just moved up the street about a 1/4 mile. 127 Cambridge St, Burlington.
I get the impression that Ken has a day job. He will meet you at his shop by appointment, usually at noon time, evenings or on the weekend.
He is selling ASE for about $2.60 over spot, and he has been busy lately, probably do to the stock market sell off.
He lists his prices on his site. www.bostonbullion.com
Question. I'm going to a dealer to sell a couple 1oz gold Canadian Maple Leaf. That's a pretty liquid coin, so I imagine the buy/sell spread should be relatively lower than some smaller or more uncommon denomination. What's a good rule for evaluating their offer? Do you generally look at it in terms of a fair price being __% below spot?
Rob Boudrie
NES Member
- Joined
- Apr 24, 2005
- Messages
- 49,109
- Likes
- 36,680
Do not look at % below spot for bullion coins, but % below what you can buy the same coin for from one of the large recognized brokerage houses (Apmex, Provident, JM, etc.).
The first thing I would do is find out how much the dealer charges for the same coins. My impression of the PM market is that it is low volume turnover, at least for most of us on the low end. Resign yourself to the fact that you will not get spot price. You have to find out how much below that the dealer will offer you.
This is one of the problems with PMs. Unless the price of gold has gone up tremendously you will have a very difficult time getting what you paid.
Just my 2 cents worth.
This is one of the problems with PMs. Unless the price of gold has gone up tremendously you will have a very difficult time getting what you paid.
Just my 2 cents worth.
Go over to WWW.Bostonbullion.com They say they will buy it for Spot-$30.
I would try here in the classifieds first. There are plenty of precious metal buyers/investors/stackers/hoarders on NES that might give you an acceptable price for gold Maple Leafs.
- Joined
- Sep 10, 2009
- Messages
- 41,854
- Likes
- 79,577
If you sell it on-line to a major Bullion house you will be offered Less-than-spot. They are a business and must make a profit.
If you post it here and ask SPOT, you save the buyer a little dough and make a little more dough for yourself.
Just make sure you sell to a Greenie with a good track record...
I wouldn't be surprised if you get a private message in the next few days...
~Matt
If you post it here and ask SPOT, you save the buyer a little dough and make a little more dough for yourself.
Just make sure you sell to a Greenie with a good track record...
I wouldn't be surprised if you get a private message in the next few days...
~Matt
Last edited:
I'm curious to what the final outcome was with Brewer's gold maples...
In rereading your post, I noticed that I rudely forgot to answer your specific question in my previous response. The selling price percentage under spot is always significantly different when comparing silver and gold. Because of that, I always look at actual dollar price under spot when evaluating offers to sell gold. The numbers are so small (relative to gold) when trading silver, so percentage under spot makes more sense. This is just my methodology, but I hope it helps.
Also, I collect silver 1 oz bars, so if anyone ever wants to trade vintage bars for other silver bars or eagles/maple leafs shoot me a line. I don't want to sell anything.
In rereading your post, I noticed that I rudely forgot to answer your specific question in my previous response. The selling price percentage under spot is always significantly different when comparing silver and gold. Because of that, I always look at actual dollar price under spot when evaluating offers to sell gold. The numbers are so small (relative to gold) when trading silver, so percentage under spot makes more sense. This is just my methodology, but I hope it helps.
Also, I collect silver 1 oz bars, so if anyone ever wants to trade vintage bars for other silver bars or eagles/maple leafs shoot me a line. I don't want to sell anything.
CNI, or California Numismatic Invetsments had the best bullion prices 10 years ago. Can’t say they are now, been out of this for a long time. But their prices were unbeatable. Locally Lees coins in E. Brookfield would give The Best Buy back prices. He’s still there as far as I know.
I've had to drive through the Brookfields a few times lately and have seen a sign for a shop like that. Can't remember if it said Lee's or not.
