Where do you guys recommend for selling gold eagles? I tried in the last few days selling a 1/4 gold eagle graded NGC70 for $300 with no takers. I thought that was a crazy low price. Ended up selling it on ebay for 315. EBay prices are usually around 340. Mine was buy it know, the reason it sold for kess. So why is nobody here wanting graded gold under spot price?
Not sure if all my spelling mistakes, typing without my reading glasses, or what but nobody? None of you ever sell gold?
Gold closed today at $1,135 per ounce. Divide that by four. So you are not under spot price. Precious metals are on a pullback.
Personally I have no idea why people buy graded modern gold bullion especially 70's. They'll find out when selling though that the 70 generally doesn't matter and they'll be offered the same price as if it was in the original packaging.
I would not buy it for more than raw but......some people like graded coins and some buyers like knowing it is the real deal if they can't handle it first. Makes no difference to me. Gold is gold and I will buy it graded or non graded if the price is right.
70s do bring a premium on eBay most of the time. You just have to wait to find the right buyer. If you want a quick sale, then you have to price the item enough below previous sold items to attract the majority of buyers or use an auction (this could go either way depending on who is looking). Also, most good local coin shops tend to offer over spot for raw American Eagles (especially fractional sizes) since these tend to be some of their better selling items. So, if offered under spot (especially for a 70), try looking for another selling venue.
I'd probably buy a graded gold coin for under spot. It would just have to be below current spot price, and a spot price that I like.
