Ever had difficulty selling a certain type of gold coin?

Discussion of the Gold portion of the Permanent Portfolio

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Tortoise
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Ever had difficulty selling a certain type of gold coin?

Post by Tortoise » Fri Sep 03, 2021 3:39 pm

In the threads here about gold coins, I often see the claim that certain gold coins (e.g., gold Eagles in the US) are "easier" to sell since they're more readily accepted by dealers.

Seems like many of us here (myself included) have only bought gold coins thus far and haven't sold any. For those of you who have actually sold some, have you ever had a dealer decline to buy a certain type of gold coin? For example, "Sorry, I have too many Krugerrands and Maple Leafs right now so I'm not buying those. But I'll buy Eagles or Buffalos if you have any of those."

Basically, I'm interested in seeing if the claim that some gold coins are "easier" to sell is actually based on real-life experiences by forum members here or is just a theoretical notion that persists because it sounds plausible.
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Mark Leavy
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Re: Ever had difficulty selling a certain type of gold coin?

Post by Mark Leavy » Fri Sep 03, 2021 3:56 pm

I've only bought and sold Eagles - and the couple of times I sold it was in person to the same dealer that I bought from. Both transactions were equally easy. Except they did an ultrasound test on all of the coins that they bought.

So... not much information for you. I have heard good stories of selling to Apmex. That it is completely painless. You box everything up like they tell you to, slap on the shipping label that they give you and you get a check for the price quoted in very short order.
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Re: Ever had difficulty selling a certain type of gold coin?

Post by Smith1776 » Fri Sep 03, 2021 3:56 pm

Tortoise wrote:
Fri Sep 03, 2021 3:39 pm
In the threads here about gold coins, I often see the claim that certain gold coins (e.g., gold Eagles in the US) are "easier" to sell since they're more readily accepted by dealers.

Seems like many of us here (myself included) have only bought gold coins thus far and haven't sold any. For those of you who have actually sold some, have you ever had a dealer decline to buy a certain type of gold coin? For example, "Sorry, I have too many Krugerrands and Maple Leafs right now so I'm not buying those. But I'll buy Eagles or Buffalos if you have any of those."

Basically, I'm interested in seeing if the claim that some gold coins are "easier" to sell is actually based on real-life experiences by forum members here or is just a theoretical notion that persists because it sounds plausible.
As I am in the accumulation phase of life, I have not had much opportunity to sell. However, when I did try to sell Krugerrands at my local dealer they simply wouldn't take them. The dealer in the next town over would though. *shrug*
I still find the James Rickards portfolio fascinating.
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Re: Ever had difficulty selling a certain type of gold coin?

Post by SomeDude » Fri Sep 03, 2021 8:19 pm

I've had dealers offer 3-4% less for krugs and maples vs. Eagles but not say they wouldn't take them.

I am sure if a dealer has the money.....they would buy any gold you have. The question is, at what price is the offer so low that it more like a non-offer?

If gold is skyrocketing and you want to sell some....imagine they offer $5,000 for an Eagle and only $4,000 for a Maple Leaf. That doesn't constitute rejection but damn. They ALWAYS want Eagles.

If those ratios sound silly......thats about the difference silver eagles were going for at local shops vs everything else, and we only had a little price run up, not a panic.

So for me the bottom line is......Eagles are zero risk. Everything else....some risk however "miniscule". Buffalos might be risk free too.
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Re: Ever had difficulty selling a certain type of gold coin?

Post by Mark Leavy » Sat Sep 11, 2021 9:23 am

For some interesting weekend reading...

Here's an article describing some of the techniques that were used by the ancients to validate gold and silver coins.

I thoroughly enjoy this kind of thing :)
ArchimedesMethod.png
ArchimedesMethod.png (3.52 MiB) Viewed 2457 times
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Re: Ever had difficulty selling a certain type of gold coin?

Post by dualstow » Sat Sep 11, 2021 4:42 pm

^ fire-gilding! ^
Sam Bankman-Fried sentenced to 25 years
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Mark Leavy
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Re: Ever had difficulty selling a certain type of gold coin?

Post by Mark Leavy » Sat Sep 11, 2021 5:17 pm

dualstow wrote:
Sat Sep 11, 2021 4:42 pm
^ fire-gilding! ^
The name of my new punk band.
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