Because I have never done this before, I'd like to get some suggestions from this board - I am in need of some cash, and I plan to sell my two 1998 1/4 oz AGE bullion coins to a local coin dealer. Just wonder what would be a reasonable price for them in total. I don't have a specific dealer in mind yet, but I guess that would eventually depend on the price I get, right? Also, I also wonder whether there will be paperwork involved in this trade. I remember there is this bill that any transaction exceeding $600 should leave a paper trail... Please advise. Thank you!
You don't have to worry about any paper work as the bill your thinking of was repealed. As of value I would expect 3-5% back of spot if you take it to a dealer
If you are looking for close to spot, consider the for sale forum here, as the members are generally safer to deal with , but they usually are very price conscious. Jim
http://www.providentmetals.com/1-4-oz-american-gold-eagle-brilliant-uncirculated.html Most of the etailers list their buy prices so that should give you a good idea. If you sell to them expect it to be a 10 day to 2 week process and you have to pay shipping. At least it gives you an idea of what's being paid.
Can I expect to get cash (not check) from a local shop? I guess with an online vendor I can only get a check, right?
At the last coin show I attended, dealers were offering a percent or two OVER spot for AGEs. I think you get better prices in general at a show where there's immediate competition. At that same show, one dealer I sold to paid by check, one by cash. I think cash is a bit more common at shows, but for an in-store deal, I wouldn't know which to expect. Online, yes, you'd get a check, and you'd expect the vendor/buyer to keep thorough records for their tax purposes.
