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 Replies: 21 / Views: 3,489 |
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Pillar of the Community
United States
822 Posts |
Everyone seems to have their favorite way to buy precious metals, but what about selling? It doesn't seem like you would get the best offer from a local coin dealer or pawn shop. Are you better off going to a major coin show? Or is it possible to cut out the middleman and sell directly to a smelting company?
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Pillar of the Community
United States
7276 Posts |
It depends on the way the PM is packaged and if there is any numismatic value. My PMs are mostly ASE and AGE, I would get the best value by selling to a local coin shop. The AGE are slabbed so I could sell them on ebay for more money. As to your situation, you have to take into consideration what you are selling. Certain states have laws regarding how you can sell. For example selling PM bars in Florida, who ever buys them has to hold them for 30 days, hence the price you get has to take that into consideration. ASE and AGE generally have a small numismatic premium so selling to a pawn shop will get you a lower price than a coin shop, lots of rules. One would need to know what you are selling, what state and where to give you the best advice (but I don't recommend you share that information publicly) |
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Pillar of the Community
United States
4333 Posts |
I can't think of a more cost-effective way to sell than having a buyer meet at your home.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
Canada
5240 Posts |
Some smelters/ refiners will not deal with the general public. A dealer has told me that his refiner pays 96% of spot. ebay has its fees and there is a risk of non payment. |
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Pillar of the Community
United States
7276 Posts |
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I can't think of a more cost-effective way to sell than having a buyer meet at your home. While yes cost effective, may not be the smartest move to invite a total stranger to your house where he knows you have gold and silver. Just saying. |
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Moderator
 United States
54281 Posts |
You can sell them HERE for no fees. Be sure to read the selling rules before listing anything. Bullion sells very well if your price is reasonable. Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here) |
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Pillar of the Community
United States
4333 Posts |
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While yes cost effective, may not be the smartest move to invite a total stranger to your house where he knows you have gold and silver. Just saying. Fully agree! When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
2049 Posts |
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While yes cost effective, may not be the smartest move to invite a total stranger to your house where he knows you have gold and silver. Just saying. Couldn't agree more that it's most cost effective and you are 1000% spot on as far as not doing the deal at your home. As someone who has done close to 60 deals of buying/selling of coins through Craigslist and another 20-25 of ammo or firearms through Armslist, I would NEVER EVER invite someone to my home. Always meet in a public place like a police station or library during daylight hours. I wouldn't even meet at their home. To take safety one step further, do not drive directly home after the deal. Go make a few stops or drive in a round about way to get home. Always check if you're being followed. Better safe than sorry. |
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Pillar of the Community
United States
4333 Posts |
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Always meet in a public place like a police station or library during daylight hours. Police station? Not the greatest idea either, considering there's always the chance of civil forfeiture for any reason, completely legal. When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
533 Posts |
Listing here is a great option I am always looking to buy ASE and junk silver but see very little for sale here seems to be more buyers than sellers |
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Pillar of the Community
United States
2049 Posts |
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Police station? Not the greatest idea either, considering there's always the chance of civil forfeiture for any reason, completely legal. Do the police require your ID in order to use their lobby for a transaction? I know our local PD advertises that they offer it as a safe way to do transactions. I seriously doubt that it's some nefarious way to catch criminals or as a civil forfeiture grab. I suppose meeting a complete stranger at your home is a much better idea to save on costs and avoid the chance of a civil forfeiture, lol.  |
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Pillar of the Community
United States
4333 Posts |
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Do the police require your ID in order to use their lobby for a transaction? I know our local PD advertises that they offer it as a safe way to do transactions. I seriously doubt that it's some nefarious way to catch criminals or as a civil forfeiture grab. I suppose meeting a complete stranger at your home is a much better idea to save on costs and avoid the chance of a civil forfeiture, lol. Depends on your personal level of risk tolerance I suppose. I'd consider it a toss up, but that's just me.  When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Edited by fistfulladirt
04/01/2022 08:47 am
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Pillar of the Community
United States
2049 Posts |
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Depends on your personal level of risk tolerance I suppose. I'd consider it a toss up, but that's just me. Really? So you think there's an equal risk to do a private bullion transaction at one's home versus the lobby of one's local police station? How often do these civil forfeitures occur compared to people getting robbed while doing a face-to-face deal at one's home or later because you just made it known that you have PMs? That's an interesting take to say the least. I am curious to see how many people would agree with you.  |
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Pillar of the Community
United States
7276 Posts |
We'll here are my 2 cents. I've sold used TV's , furniture, car parts at my house. I've only sold coins, bullion, notes through ebay, fellow collectors and my local coin shop. If I was selling bullion, our town has a "safe" place, it's in the parking lot of the police station with cameras. I would use that before inviting a stranger to my home. That's just me. Used stuff I don't care, they know at home I'm selling a tv, furniture etc, we all have TV and furniture, appliances. Not all of us have bullion and few of us have as much as bullion as fist full of dirt, so no to selling bullion at home. Edited by hfjacinto
04/01/2022 09:04 am
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Pillar of the Community
United States
2049 Posts |
Another option to consider is to join a local coin club. Ours offers the chance to buy/sell during each monthly meeting. If you have one, it might be worth looking into.
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Valued Member
United States
187 Posts |
Message boards and forums is how I do it .......
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Replies: 21 / Views: 3,489 |
Posted 03/29/2022 8:56 pm
