Selling silver and gold coins (1 Viewer)

[Sparty]

Curious what everyone’s opinion is on best place to sell silver and gold coins. Is there any chance that I get close to spot value for them?

 

[gopherblue]

I doubt you’ll get spot value or close to it. Physical possession of commodities is a surefire way to impose too much slippage on the transaction. Best way to invest in gold or other precious metals (if you must) is an ETF like GLD. Personally, I think commodities offer very little investment upside for FAR too much volatility and risk.

 

[Sparty]

I doubt you’ll get spot value or close to it. Physical possession of commodities is a surefire way to impose too much slippage on the transaction. Best way to invest in gold or other precious metals (if you must) is an ETF like GLD. Personally, I think commodities offer very little investment upside for FAR too much volatility and risk.

I agree completely with you. That's why I'm trying to dump some of my coins (plus I bought too many chips and need some cash! ). I only have a few ..........coins....I have PLENTY of chips!!:.

 

[Highli99]

Probably gold coin forums.

 

[BNM]

Physical possession of commodities is a surefire way to impose too much slippage on the transaction.

You may be right, but tell that to the Chinese: https://seekingalpha.com/article/4181069-u-s-allowing-china-russia-accumulate-gold-cheap

 

[BNM]

I agree completely with you. That's why I'm trying to dump some of my coins (plus I bought too many chips and need some cash! ). I only have a few ..........coins....I have PLENTY of chips!!:.

No idea where to sell them but, if you're not in a rush, you may want to wait until we're further into 2019 as we may see the dollar weaken which should see gold go up in value. Also, don't discount golds value during zombie apocalypse. (y) :thumbsup:

 

[Coyote]

I doubt you’ll get spot value or close to it. Physical possession of commodities is a surefire way to impose too much slippage on the transaction. Best way to invest in gold or other precious metals (if you must) is an ETF like GLD. Personally, I think commodities offer very little investment upside for FAR too much volatility and risk.

Perfectly true if you live in (and are the citizen of) the only country in the world which, being THE superpower, can turn almost unlimited quantiiies of toilet paper into hard currency.
In countries with weak currencies and/or unstable economies, you do need some gold for that abyss-black Monday if it comes, God forbid.

 

[Highli99]

The only metals I stack are copper and lead. The way I see it is that is SHTF those metals will have more utility. I don’t recall a lot of coin trading on the walking dead.

 

[PhilLaFond]

pm sent

 

[Jimulacrum]

If you want to get a good price on your coins, offer them as a standing for-sale item (e.g., on Craigslist). Check Apmex and undercut their price by a little, and you should be good (be ready to adjust your price if the price fluctuates). eBay would be okay too, but you'll be eating fees, so whether to go that route depends on whether what you're moving is worth the expense.

If you just want to get the coins out of your hands quickly and don't especially care about getting the best price, you could sell them to any old local coin shop, ship them out to Apmex, or check Craigslist for folks looking to buy silver/gold coins and bullion. Those options will all be offering a lowball price, though, so expect to take a haircut.

 

[joepro]

I was under the impression that coins would be worth more than spot but I'm no expert. There are a lot of shops on eBay which could help determine what your coins are selling for. Also, many coin and jewelry stores post spot values and I think what they buy for.

I have purchased a few silver coins,mostly one Oz. There are some amazing coins being minted all over the world. I would like to start collecting the "America The Beautiful" series of 5 ounce silver coins, they look awesome.

 

[BukNaked36]

My dad used to collect gold and silver coins. There used to be additional "collector" value to some coins, but the commodity value of the metal itself has risen so much that their just basically worth the value of gold and / or silver.

I remember asking if I could take a Krugerrand to kindergarten show and tell. My parents actually considered it then said no.

I would have lost that thing in a heartbeat.