Gold and silver prices are down

What experiences have people here had selling bullion coins? How close to the current selling price for the same coin were you able to get? Same question for rounds; bars and junk silver.
 
nhams said:
Most of the online dealers post their buying and selling price.

See this page. They are paying a little less than a dollar over spot for these silver eagles.

http://www.apmex.com/product/23331/1-oz-silver-american-eagle-bu-random-year
Click to expand...
I know that. Just wondering if anyone here has actually sold, and what experiences have been selling obscure stuff (obsolete foreign gold coins, proprietary silver rounds, etc.). Also, note that Apmex footnotes its buy price as valid only for sales $10K and above; smaller buys at lower prices.

The Apmex buy/sell spread ranges from 9.3% to 13.5% depending on quantity bought; more if you sell under $10K. The fundamental problem with the metals is that you are not paying a brokerage fee (as with conventional instruments), but buying at retail and selling at wholesale.
 
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My only sale was a fairly large amount of silver that I sold to Boston Bullion about a year ago. It was a very easy transaction, they paid me a little more than what they listed on their website. It was around spot + $1 for silver Eagles/Maples, and spot -$1 for generic silver, of which I sold a bunch of 10 ounce bars and some 1 ounce rounds. This was about an $18K deal.

They paid me via wire transfer a few days after they took possession. I was using the proceeds to buy a house, so that worked out fine. IIRC, he came in on a Sunday to meet me and make the deal.
 
Rob Boudrie said:
What experiences have people here had selling bullion coins? How close to the current selling price for the same coin were you able to get? Same question for rounds; bars and junk silver.
Click to expand...

Some of the products on Apmex's site list the buying prices, it's typically around spot price. You can mail them the coin/bar. I plan to hand mine down to my kids though. :)
 
I've sold bullion and rare coins on eBay, heritage (ha.com) and to dealers. I've done best in eBay auctions. If you start your auction at 1 cent you pay less in fees.
 
Metals are sliding again today with a strong jobs report. I think that's an overreaction to the perceived strength of the economy. Metals are a solid store of wealth against debt that exists at the fed level, state level, municipal level, and even the household level. The debt will eventually have to be monetized or defaulted on or both with no good scenario for currencies.


4_trillion-chart.jpg


http://www.cnsnews.com/news/article...-federal-spending-will-top-4t-first-time-year
 
I see silver at $15.52 today, very tempted to jump in. My trigger price is $15/oz. A question to you PM guys, 2017 Eagles on APMEX are selling a buck more than MONEX. What am I missing, shipping/handling? For '17 Eagles what is the reasonable price over spot to pay?
 
I think metals are down cause the strong jobs report means the Fed is more likely to raise rates, not cause of the actual economy.

I think it's a great buying opportunity, however it's likely to go down before it goes up.
 
Lignum Vitea said:
I see silver at $15.52 today, very tempted to jump in. My trigger price is $15/oz. A question to you PM guys, 2017 Eagles on APMEX are selling a buck more than MONEX. What am I missing, shipping/handling? For '17 Eagles what is the reasonable price over spot to pay?
Click to expand...

$2 over spot or less is a good price for eagles.
 
Peter Schiff made a great point, saying in the 1930s, you could buy a gallon of gas with two dimes. Today, if you had those same two dimes, say you found them in the back seat of a 1930s car, you could still buy a gallon of gas with two (silver) dimes.
 
Varmint said:
Peter Schiff made a great point, saying in the 1930s, you could buy a gallon of gas with two dimes. Today, if you had those same two dimes, say you found them in the back seat of a 1930s car, you could still buy a gallon of gas with two (silver) dimes.
Click to expand...
I listen to Peter Schiff's podcasts. He has a lot of interesting insights.
 

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