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- - Any trouble selling your coins? (http://goldismoney.info/forums/showthread.php?t=254266)

TaxHaven | 04-06-2008 08:54 PM
Any trouble selling your coins? I have yet to sell anything except my ETF-like paper gold. I have about 60oz. bullion Maple Leafs, GAEs and Aussie Kangaroos which I may one day need to sell. I bought them from the bank here in Taiwan at about spot+6%. When you buy, you show ID and leave your name on the receipt (for tax purposes). To avoid this, I may one day take some or all of them with me when/if I return to Canada or Europe and sell them there. The coins are sold either in the usual flexible plastic envelopes or in hard plastic two-sided holders. Either of these can be easily opened and closed: they are not "encapsulated" in any way is what I mean. Can anyone tell about their experience selling bullion coins? Do buyers quibble about the containers or ask for receipts of purchase? Have there been buyers who don't believe the coins are genuine because of the packaging? Suggestions?

j-son | 04-06-2008 08:56 PM
Re: Any trouble selling your coins? Quote:
Originally Posted by TaxHaven (Post 1049343) I have yet to sell anything except my ETF-like paper gold. I have about 60oz. bullion Maple Leafs, GAEs and Aussie Kangaroos which I may one day need to sell. I bought them from the bank here in Taiwan at about spot+6%. When you buy, you show ID and leave your name on the receipt (for tax purposes). To avoid this, I may one day take some or all of them with me when/if I return to Canada or Europe and sell them there. The coins are sold either in the usual flexible plastic envelopes or in hard plastic two-sided holders. Either of these can be easily opened and closed: they are not "encapsulated" in any way is what I mean. Can anyone tell about their experience selling bullion coins? Do buyers quibble about the containers or ask for receipts of purchase? Have there been buyers who don't believe the coins are genuine because of the packaging? Suggestions?
i have personally sold a LOT of gold/silver coins to people and dealers alike. NEVER has anyone ever asked where i bought the coins from or asked to produce any paperwork. the only time someone didnt want a coin from me was a dealer...i was trying to sell a graded proof eagle coin and he said that he didnt want a graded coin....only a coin in original mint packaging. selling coins is simple and easy....try it...you'll like it.

Gcubed | 04-06-2008 08:58 PM
Re: Any trouble selling your coins? You should have no problems. The dealer will examine the coins and pay you. Painless. Quote:
Originally Posted by TaxHaven (Post 1049343) I have yet to sell anything except my ETF-like paper gold. I have about 60oz. bullion Maple Leafs, GAEs and Aussie Kangaroos which I may one day need to sell. I bought them from the bank here in Taiwan at about spot+6%. When you buy, you show ID and leave your name on the receipt (for tax purposes). To avoid this, I may one day take some or all of them with me when/if I return to Canada or Europe and sell them there. The coins are sold either in the usual flexible plastic envelopes or in hard plastic two-sided holders. Either of these can be easily opened and closed: they are not "encapsulated" in any way is what I mean. Can anyone tell about their experience selling bullion coins? Do buyers quibble about the containers or ask for receipts of purchase? Have there been buyers who don't believe the coins are genuine because of the packaging? Suggestions?

TaxHaven | 04-06-2008 08:59 PM
Re: Any trouble selling your coins? Thanks! But what is "original mint packaging"? And would they take a coin without it?

j-son | 04-06-2008 09:00 PM
Re: Any trouble selling your coins? Quote:
Originally Posted by TaxHaven (Post 1049352) Thanks! But what is "original mint packaging"? And would they take a coin without it?
the u.s. mint produced proof coins that came with a certificate and a box. the proof coin i had was graded by pcgs and i didnt have the certificate or box. the dealer wouldnt take it?! weird huh?! as a matter of fact the dealer is a large internet dealer that lots of us have used in the past...from californina :D that was the only time i had any bit of trouble. most people/dealers dont care about the packaging though...as a matter of fact i bought a proof eagle coin today without any packaging from a dealer.

goldwish | 04-07-2008 03:11 PM
Re: Any trouble selling your coins? lovely, a local dealer acting like I'm wasting his time when I want to buy gold (!) & just hurried me off the phone offering "$15, $16 just bring them down" for my SAEs. :banghead: btw this is in SF CA.

foolsgold | 04-07-2008 03:21 PM
Re: Any trouble selling your coins? As far as the GAE's go, you should be able to walk into any coins shop in the US and sell them for cash no questions asked no paper trail.

Seleukus Nikator | 04-07-2008 03:28 PM
Re: Any trouble selling your coins? sometimes dealers who get a lot of stolen merchandise fencing attempts will implement a paper trail to discourage that sort of thing. And then blame the recordkeeping on local cops. Use it on new sellers. I have seen this more than once. Of course they dont want paper trails either since they're busying underreporting income and evading sales tax too, most of them, prolly. Ah well -- cheers!

goldwish | 04-07-2008 03:31 PM
Re: Any trouble selling your coins? yeah, last place offered 1/2 off spot, chee thanks but no thanks. got to stick with the big places or ebay I guess. some of these places are real rat holes in the wall. to me this still says illiquid even in a big city like this. so not only do we have to be our own reserve system but our own dealer.

Gcubed | 04-07-2008 03:33 PM
Re: Any trouble selling your coins? Trader Sams? Quote:
Originally Posted by goldwish (Post 1050560) lovely, a local dealer acting like I'm wasting his time when I want to buy gold (!) & just hurried me off the phone offering "$15, $16 just bring them down" for my SAEs. :banghead: btw this is in SF CA.

goldwish | 04-07-2008 03:34 PM
Re: Any trouble selling your coins? no, one of the dealers on market (not street level kind of place).

Martian_Time_slip | 04-10-2008 11:59 PM
Re: Any trouble selling your coins? Quote:
Originally Posted by goldwish (Post 1050586) yeah, last place offered 1/2 off spot, chee thanks but no thanks. got to stick with the big places or ebay I guess. some of these places are real rat holes in the wall. to me this still says illiquid even in a big city like this. so not only do we have to be our own reserve system but our own dealer.
Yup, it's a commodity like anything else.

budfox | 04-11-2008 12:03 AM
Re: Any trouble selling your coins? Quote:
Originally Posted by TaxHaven (Post 1049343) I have yet to sell anything except my ETF-like paper gold. I have about 60oz. bullion Maple Leafs, GAEs and Aussie Kangaroos which I may one day need to sell. I bought them from the bank here in Taiwan at about spot+6%. When you buy, you show ID and leave your name on the receipt (for tax purposes). To avoid this, I may one day take some or all of them with me when/if I return to Canada or Europe and sell them there. The coins are sold either in the usual flexible plastic envelopes or in hard plastic two-sided holders. Either of these can be easily opened and closed: they are not "encapsulated" in any way is what I mean. Can anyone tell about their experience selling bullion coins? Do buyers quibble about the containers or ask for receipts of purchase? Have there been buyers who don't believe the coins are genuine because of the packaging? Suggestions?
Yes, I sold a bunch of Morgans on ebay. Had the usual bullshit. Didn't get it, it was a fake, not as described. Be very careful, tamper seal your stuff. Use an invisible pen (blacklight only visible) to mark your coins.

MarinePride | 04-11-2008 12:13 AM
Re: Any trouble selling your coins? I've sold both silver and 1/10 oz gold coinage on Ebay. I just take a good picture of the coin so that the bidder will know exactly what they are getting. For some reason, I like not dealing face to face with the buyer and the scrutiny. I hate the fees associated, but the convenience I believe compensates for it. Also, many times you can get more than the fair price, but that gets sucked up in Ebay and PayPal fees.

Baldwin | 04-11-2008 10:50 AM
Re: Any trouble selling your coins? If I have about 15 days before I need the cash, I'd sell to APMEX or a GIM'er. Otherwise I know a person or two in my area that I could get a decent price from.

goldwish | 04-11-2008 11:40 PM
Re: Any trouble selling your coins? Quote:
Originally Posted by Martian_Time_slip (Post 1056574) Yup, it's a commodity like anything else.
so I try to stick at least to those w/buy back prices from the source eg. AEs or rounds. some of the non-descript items would be really hard to cash back in like 925 or something? I found Circa and know a smelter. in any event my problem now is not selling, it's controlling myself from going broke buying! moreso numismatics. some of these coins are just so pretty to look at I want them I must have them! HarrrRRRRR! :shocked_ma:

Montecristo | 04-12-2008 12:01 AM
Re: Any trouble selling your coins? Quote:
Originally Posted by goldwish (Post 1050560) lovely, a local dealer acting like I'm wasting his time when I want to buy gold (!) & just hurried me off the phone offering "$15, $16 just bring them down" for my SAEs. :banghead: btw this is in SF CA.
If you look at this from his perspective, he probably gets upwards of 25 calls a day from people "shopping" the price not actually looking to sell, hence the "just bring 'em down and we'll talk" comment. Couple this with a steady stream of customers actually in the store with either money or gold in hand and you can see his reluctance to spend time chatting on the phone. I don't know if you have ever dealt with this guy before and what your experience was like, but I wouldn't rule him out just because of the phone call.

Montecristo | 04-12-2008 12:07 AM
Re: Any trouble selling your coins? Quote:
Originally Posted by foolsgold (Post 1050573) As far as the GAE's go, you should be able to walk into any coins shop in the US and sell them for cash no questions asked no paper trail.
And exactly how is the dealer supposed to discriminate between you and an undercover IRS, FBI, Treasury or Homeland Security agent? I suppose he can always just take you at your word, because a government agent would never lie.

goldwish | 04-12-2008 12:23 AM
Re: Any trouble selling your coins? Quote:
Originally Posted by Montecristo (Post 1058334) If you look at this from his perspective, he probably gets upwards of 25 calls a day from people "shopping" the price not actually looking to sell, hence the "just bring 'em down and we'll talk" comment. Couple this with a steady stream of customers actually in the store with either money or gold in hand and you can see his reluctance to spend time chatting on the phone. I don't know if you have ever dealt with this guy before and what your experience was like, but I wouldn't rule him out just because of the phone call.
as a former retailer I understand that. but he queried me on the buy quantities which I answered. I didn't fly into town to waste his nor my time so kept on trucking.

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