What is the best way to SELL gold or silver bullion

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Check Blind's picture
Check Blind
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What is the best way to SELL gold or silver bullion

There is a TON of useful information on how to buy silver and gold, much available on CM's site.  I wonder if anyone has useful advice on the best way to SELL precious metal bullion.  I don't think it's a good idea to purchase PM without understanding the mechanics and cost of a 'round trip.'  In my case this would be selling small numbers of 1oz. coins at a time (American Eagles, Maple Leafs, etc.).  Among my questions: Should I be paying a commission?  What are reasonable commisions with respect to spot price?  Who are reliable buyers?  Are there places to find/create a market (i.e. generate a forum - real or online - for bidders)?  Any information or links to information would be GREATLY APPRECIATED!  Thanks. 

Ken C's picture
Ken C
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Selling bullion

Many (most ?) dealers have a "buy" and a "sell" price for bullion coins. The difference is how they make a profit. You can check these prices by looking on-line or making a phone call to the dealer.

For example: go to the APMEX site and it will list the buy price for AGE as well as the sell price.

 

blk924s's picture
blk924s
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APMEX buy prices are "subject

APMEX buy prices are "subject to certain minimums" which is (i think) in the many thousands of dollars. I'll have to double check though. 

I have also been looking for info on completing the circle and selling these metals when the price is right, but I haven't found much yet. Seems that for it to be worth it for people like us small fries to sell, the price of metals would have to be a lot higher. If that were the case, then what will the market conditions let alone the world be like? It might be helpful to look into how people sold gold in the depression, and in other crazy situations in the past.

Or how people sold after money had been revalued against gold etc. and was worth more.

blk924s's picture
blk924s
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Selling back to them

So APMEX says they will probably pay you less than their buy price if you're selling less than $10K of metals to them. You can get specifics by calling them.

Here's from their site:

* The buy price is for transactions exceeding $10,000.00. For transaction of less than $10,000.00 the price paid will be at the discretion of APMEX and may be less than what is displayed here. If you own these items and would like to sell them to APMEX, please call and ask to speak with someone in our product purchasing department.

* Prices subject to change without notice. Prices paid may be more or less than displayed here and subject to quantity limitations.

 

dmger14's picture
dmger14
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I wonder who to sell to as

I wonder who to sell to as well.  I wouldn't feel very comfortable sending a place hundreds of coins.  What if they said the actual number is far less than you sent them?  Is this a risk?

I know when I sold my 1,000 ounce bar of silver to a local coin dealer, they gave me less than spot and charged me $.50 over spot when I first bought a few years prior.

anexaminedlife's picture
anexaminedlife
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Go to a reputable coin dealer

...to sell your PMs., probably not a pawn shop or jewelry seller ("We buy gold") but shop dedicated to buying and selling PMs.  You can find them near any city (even small cities). They will have a buy price that will be lower than their sell price but if you have coins such as Silver Eagles, you will still get a small premium over spot. The other option is to sell on Ebay. I have had a lot of success doing that. You don't ship until you get payment and insure the shipment if it is over an amount you don't feel comfortable mailing without insurance.  Pretty simple. 

blk924s's picture
blk924s
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dmger14 - just curious how

dmger14 - just curious how much less than spot did they offer?

 

anex - when selling on ebay do most people sell auction style vs buy it now?

horstfam's picture
horstfam
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Posts: 71
Somewhat related

I recall hearing about families in Germany that would leave their city homes in the morning with a suitcase filled with silver cutlery- spoons, forks, etc.- and walk out into the country to local farms. There they would empty their suitcases of the metal objects and then refill them with vegetables the farmers had grown. They would return to their homes with food for a few more days.

I think it is important to imagine a world without dollar signs in it. I understand, for now, that it is a convenient way to keep track of how the government is destroying the economy, but we must have a longer view.

Courage! - to us all!

 

dmger14's picture
dmger14
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50 cents under spot for a

50 cents under spot for a 1,000 ounce bar.  If it was Silver Eagles I was selling, I imagine I would have gotten spot or a little more maybe.  At the time they said they had a lot of supply coming in and hence the below spot payment.  As far as I know they always say that when you sell and when you buy there is little supply.  I don't know...

Josep's picture
Josep
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Posts: 1
Buy Gold Oz

In a everbank metals you can select some allocated account you can buy and sell silver bars and coins. from there you can even hold market friendly and potentially valuable coins like American Silver Eagles. In a  allocated account you’ll receive monthly statements describing your personal holdings. Plus if you’d ever want to take physical delivery of your bars or coins Everbank offers delivery services.

cjim11's picture
cjim11
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find out how much your gold is before you sell it

Find out how much it is worth before you sell it, go to golddropbox.com and they have an online calculator that tells you the worth of your items. You don't have to sell it to them just being armed with that information you will know if someone is ripping you off or not.

SilverDad's picture
SilverDad
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You can buy Silver Eagles at

You can buy Silver Eagles at spot at www.spoteagles.com. They also offer a discoutn on Gold Eagles. Call today at 855-428-2628

barbskor's picture
barbskor
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Posts: 2
Learning about investing in the purchase of precious metal

Is better to buy coins or bullions when it comes to selling.   Some say it is easirer to sell coins.   However, is ture that you pay for the "art" on the coins and when selling the are often depreciated when selling far below the spot price.

 

What are your thoughts?

 

barbskor's picture
barbskor
Status: Member (Offline)
Joined: Jul 11 2015
Posts: 2
Learning about investing in the purchase of precious metal

Is better to buy coins or bullions when it comes to selling.   Some say it is easirer to sell coins.   However, is ture that you pay for the "art" on the coins and when selling the are often depreciated when selling far below the spot price.

 

What are your thoughts?

 

CapitalGoldGroup's picture
CapitalGoldGroup
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Joined: Sep 27 2015
Posts: 1
Selling Gold Coins Selling Precious Metals

The best way to sell your precious metals is to contact several of the best precious metals dealers and top gold dealers and get quotes. However, we'd like to caution you because when investing in precious metals, you make a lot more of a profit by investing in gold for a long-term hold. If you look at the historical prices of gold and silver, when holding onto these precious metals for 30, 40, even 50 years, the investor sees a significantly higher return. 

That being said, it's important to hold onto precious metals as long as you can. When you've decided it's the right time to sell your precious metals, get several quotes. Don't just rely on one company. Also, do a lot of research on the precious metals dealer you've selected. Are they an award winning precious metals firm? Do they have great consumer reviews?

Capital Gold Group, Inc. is a great firm to look at. We're an award winning precious metals firm. We've won Precious Metals Advisory Firm of the Year for two years running. We have tons of free investor educational materials. You can visit us at startwithgold.com.

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