Selling Coin To Apmex. Bad Idea To Send Stuff And Hopefully Get Paid

There's a lot of fraud on ebay. One time paypal froze my account for no reason, they wanted me to send bunch of personal info to unblocked. good thing I didnt have any money at the time. I Close my paypal account.

Put it on ebay and your coin will sell much closer to what you think it is worth. (Be sure and take into consideration the fees you'll be paying to ebay and PayPig). Follow the rules and best practices for sellers and you should have a smooth transaction. 99.99% of all the buying and selling I've done on ebay the last 15 years has been problem-free and rewarding.

Is there a risk? Of course. You take a risk everyday when you wake up and leave your house. That doesn't stop you from doing the things you need and like to do does it?

I agree chances are a coin like this might sell for the
most on ebay.

But. there will be
ebay fee's
paypal fee's

And if you don't have a good/high feedback rating some
buyers may not bid on your coin. Are you going to offer returns?
Also if you have not sold very much on ebay, Paypal might
hold the funds until the buyer gives a positive feedback
or three weeks. I think it is something like that.

For APMEX.
I would think there should be some sort of purchasing agreement.
So you have something to reference. Than you will have shipping.
You will want signature confirmation and insurance.
USPS will ask you what it is, I don't think they
insure coins. The most secure way to send USPS
is Registered Mail, it cost more and is slow.

This is a perfect example of our hobby. It is called
coin collecting, not coin investing. It is a hard lesson
to learn when it is time to sell.

People complain about selling to LCS's, this is the type
headaches they go though everyday. For those that complain
about the prices coin shops pay, try opening a coin shop
and you will see why.

As for the OP and the gold coin.

I would call APMEX, tell them your concerns about possible problems.
See what they recommend about shipping and how to track problems.

If your not happy with that process.
Sell on ebay, and expect some small problems.

Ask the members here how they are shipping their higher
priced coins.

If USPS asks when you are mailing it the answer is "It isn't flammable. liquid, or hazardous." That is all they are legally allowed to ask. You do NOT have to tell them specifically what it is. And yes they DO insure coins that have numismatic value. (cash that doesn't have numismatic value has to be sent Registered or their maximum liability is $15.) Registered is the safest way to ship, but may take long enough to get their that their price quote may expire before it arrives. The market is volatile and price quotes have a limited time limit. Priority insured will get there faster but make sure you get signature confirmation (At around $850 it will cost about the same to ship it either way. Over about $850 to $1000 Registered becomes cheaper.) Registered mail already has to be signed for.

APMEX is unlikely to try and stiff you. They have been around for a long time and $850 is worth them damaging their reputation over. If they stole a customers coin and it gets publicized it will cost them a lot more than that $850. If you are making multi-millions of dollars yearly, why risk it for $850?

Here is the deal with APMEX.

APMEX is on the short list of AP's (Authorized Purchasers) with the US Mint. It is a very short list, 8 the last time I looked a few years ago. Regular people,coin shops and dealers cannot buy gold,silver and platinum bullion from the mint. Only AP's can. They then sell to secondary dealers like JM, Provident and other big online dealers who then turn around and sell bulk to LCS' and smaller dealers.

In order to become an AP, you have to fill out a very thorough financial background form and the vetting process is extensive. When the Gov't decide to deplete their gold and silver reserves by getting it out of their vaults and into the hands of it's citizens,one of the conditions of the Gold Bullion Coin Act and the Liberty Coin Act (Silver Eagles) was that the Gov't set up a "buy-sell" bullion program. The Gov't want to set up a way for people to buy bullion, but also a way to sell their bullion.

Thus in order to be able buy bullion from the Gov't you must also set up a program to buy back said bullion from the citizenry. An AP must show that they can buy the minimum amount, which is 10,000 ounces for silver, at one time from the mint. They must also prove to the Mint that they have the trusted background, the financial resources and longevity to be able to buy back large amount of bullion in the event of large swings in the PM market.

As I said, the amount of companies that qualify and can stand up to this vetting process can be counted on two hands. You can feel comfortable that APMEX is not going to risk this very exclusive designation to "rip you off" of your one little gold coin. Send it with tracking, insurance signature required and be confident that you are going to get your money.

I would trust APMEX, if it were me.