I have 3 different coins that I like to tradene scratched up eagle in airtite, one maple wolf with serious milk spot in airtite, and one good 2010 lunar in original capsule.My goal is to get equivalent coins in exchange, eagle for eagle, wolf for wolf, and 2010 lunar for 2011 lunar.How much business to I have to do in order for dealers to make this trade? I have no idea how they operate. But If they never make even trade for whatever reasons, then I won't bother to take the coins with me.thanks.
I don't see any advantage for a dealer to take problem coins from you and make them their own. Expect to spend big money before they even consider it.
I don't expect them to do it for free. I usually get some discount if I buy x number of coins. So I'm guessing I'll ask for even trade as well. But if they never do it under any circumstances then I won't bother to ask.Also, they were the ones who sold me those coins. They were telling me those coins are bullion coins. If I want perfect coins I should buy them graded. I want to see whether they will buy it back as bullion coins as they were advertised.I take it as an exercise but I don't want to ask for something that is way out of line. It is only $6 worth of spread between bid and ask for 3 coins.
I wouldnt bother. Dealers at shows are there to make money. There is a difference between a collector and a dealer. I cant even find someone on ebay willing to trade d minted moderns for p's. Ive emailed about 5o people so far.
Who's spread ? If you talking the spot price spread that has nothing to do with it. Sure they'll buy the coins back, and they'll sell you new ones. But don;t expect them to do it at the spot price spread. Dealers typically sell bullion coins for 10% more than Ask, and buy them for 10% less than Bid. That is what you can expect.
If you bought them from the same dealer it is fair to ask him to cut you a deal on upgrading them I would think. He doesn't have to, but it might benefit him long term. However, I think the difference between "problem" coins and an older date versus problem free coins and the newest date would be more than a $6 price difference, even if he was willing to deal with you and upgrade them.
I guess I am at a loss here. You have problem coins that you want to trade to a dealer even up for non problem coins? Novel Idea.. I wonder if I take my 2008 Charger in if they would give me a 2011 even up.. Maybe I will give them a few bucks and upgrade to the SRT8.. Off to the dealership I go..
Trying to trade your unwanted issued layden coins and trying to upgrade from there Doesnt sound like something that wouldnt work very well!!
I think the point the OP is making here is that because the coins are bullion coins, whether they have problems or not is immaterial. The value of bullion coins is based their metal content and only their metal content. So a bullion coin that has a scratch is worth the same amount as one that does not have a scratch. With that premise I agree. But as I tired to point out in my initial post where the OP has a problem with his thinking is the Buy/Sell spread that dealers use, have to use. Even if the scenario involved two flawless bullion coins - that Buy/Sell spread is still going to be there.
That was exactly my point. They are not really "problem" coins to dealers. I talked to many dealers and they always claim dings, scratchs, and milk spots are normal. The typical spread for 1oz silver coins is about $2 (I got this from APMEX). My intention is to ask the dealer that I bought from to do even exchange while I buy more coins from him. The reasons I want to do even exhange are 1) I don't have to redo my spread sheet, 2) this won't be a taxable event(not sure about this) and 3) don't want to spend more money I think I used the wrong term to describe these coins. They are perfectly fine to the dealers and silver stackers. I just don't like the conidtion they are in but don't want to spend extra money to correct it. Fortunately, I bought 5 each so I still have some perfect coins to look at
APMEX is currently selling ASE's for $28.80. They are currently buying ASE's for $26.43. Close enough to your $2. However, there are limitations on those buy prices and certain minimums have to be met in order to get that price. That's not what they will pay for 1 coin. They won't even buy 1 coin. But no dealer at a coin show, or his shop is going to offer prices like that. The spread will be much bigger. And that is the point I have been making all along. You can expect about a 10% spread from a dealer - each side for a total of 20%.
I disagree Chris. I've bought and sold many, many bullion coins to and from dealers. And they could care less what shape the coin is in. All they care about is their buy/sell spread. They don't even care if the coins are slabbed and graded as MS69 or MS70 when you sell them to them. They still offer you the same price as they do for a raw scratched one when you sell them to them.
I agree with you when dealers buy but not when they sell. When I buy, I pay for silver value whether that coin is slabbed or not. When I sell I sell graded coins for a premium over the raw coins; usually around $10.00 more than what the raw coins are selling for.
I think if you try that trade you will have to pay a few bucks a coin. If you can go to the dealer that you bought them from in the first place.
