Selling Gold Coins At LCS, Fun Video

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Author	Replies: 6 / Views: 2,097
TheForce Pillar of the Community United States 4870 Posts	Posted 09/21/2022 6:48 pm I came across this fun video. A guy called several coin shops to see what they would pay for 1oz AGE and GML coins. The spreads were crazy between the different shops. While pm's are very liquid, I would be concerned about getting less than spot considering the high premiums that are paid. Thoughts? 2MW352IqxCg Report this Post to the Staff

jimbucks Pillar of the Community United States 4692 Posts	Posted 09/21/2022 9:14 pm Well, if you need to ship and insure, that gobbles up price. No info if these are local or distant shops. Report this Post to the Staff
Pacificoin Pillar of the Community Canada 5394 Posts	Posted 09/22/2022 12:10 am No one is going to pay full spot if they want to stay in business . Report this Post to the Staff
2rtgah678 Valued Member Canada 291 Posts	Posted 09/22/2022 03:43 am Some stores do, The Bullion dealer I work at pays full spot for gold silver and platinum Report this Post to the Staff
TheForce Pillar of the Community United States 4870 Posts	Posted 09/22/2022 08:05 am It sounded like the video said he called random shops all over. I'm not sure gold is a good investment when it comes time to sell. Any hedge against inflation is pretty much eaten up by the premiums and the amount a shop actually pays you. Report this Post to the Staff
fistfulladirt Pillar of the Community United States 4333 Posts	Posted 09/24/2022 10:09 am I've not considered gold a decent investment or hedge against inflation, at least not for the last decade. When I listen to LED ZEPPELIN...so do my neighbors... Roll hunting since '77 Dirt fishing since '72 Report this Post to the Staff
BadDog Pillar of the Community United States 1375 Posts	Posted 09/27/2022 08:32 am Quote: No one is going to pay full spot if they want to stay in business . Maybe a LCS won't because of low volume sales, holding times, etc., but there are bullion dealers that pay over spot. It's easy to check JM Bullion because they post their buy prices online. This morning they were paying about 4% over their indicated spot price for random date 1 ozt AGEs. A Florida bullion/coin dealer, Vermillion Enterprises, has You Tube videos where they list their buy and sell prices every couple of days. Currently, they're buying at 5% over spot and selling at 7% over spot for random date 1 ozt AGEs. Since these are You Tube videos, that may be viewed who knows when, they don't list their spot price. You have to call them to get a $ price as the gold spot price moves around. Report this Post to the Staff
	Replies: 6 / Views: 2,097

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