Selling American Eagles !oz

Did you use a CTNOC authorized dealership? If not, complete aforementioned forms in triplicate please.

 

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Yes times have changed a lot! I hate to tell you what you already know but prices stay solid when supply and demand is high, unfortunately demand has diminished quite a bit. If you talk to the people who are filling tables at coin shows, they all say the same thing. They are having problems getting all their tables rented. Again, I hate to say it but demand has gone down. Besides that, I try to never sell to a coin shop as they buy wholesale all day long, so I will never get what I want from them. In short, they don't need anymore coins, even if they're gold.

 

Yes, I know why you have them. However, do you own the gold equivalent to that? I don't think so. Again, my point. Why are we so willing to pay and have silver in high regard, but not gold?

 

Then why is gold so much more than silver? And then, when they do sell gold, be it DCAM70 or UCAM 70, it is much higher than the listed price of gold? Even on Ebay, the prices reflect the same. And no one seems to care, but me?

 

Yes, I know what proof is. You still miss the point. Why are the coins sold for more than spot? Why then, when you go to sell your proof coin, you are only getting spot price? Proof is a better version of UNC, so why are they only offering spot - 10%? I don't need to take up knitting to see something is wrong here.

 

Yes, I know about supply and demand, not a hard concept. However, everyone seems to be complacent on the idea that gold is gold. Why can no one see the difference between buying and selling? Yes, gold is gold, but why am I getting such feedback on silver? Is not silver, silver too?

 

Perhaps your definition of who "they" are may help. You sold your bullion to a dealer. That dealer knows most of his customer base will purchase them at spot so he cannot pay you more than spot...... Had you taken the time and effort to market them yourself, you may well have found a collector that appreciates the mirrored proof and would have been willing to pay you more for them.

 

Again, why would anyone take the 'time" to market them? Do you take the time to market your silver? I would guess not. And if we have to take the time to market gold, why is it more expensive than silver? You may have had to "market" your silver, but I am guessing, it was not a long search.

 

I was referring to the effort it would take to list on Ebay or something similar. I have been collecting both gold and silver since the 1980's. Simply put, the market is what it is. I don't know how many other ways folks could tell you this.... You chose to pay more for the proof bullion. I choose not to pay more for proof bullion and yes I do own proof specimens. I'm sorry. I really wish I could help you better understand. The open market supports bullion sales at spot price levels. Been that way since I can remember.

 

Okay! If you're so damn smart, tell me why I still have them.

You're a fool!



I'm done!

 

Yes.
For my Congrats ASEs I took the time to market it to a specific group of people. Otherwise, who else would pay $2,000 for a single ASE ???
That's stupid, crazy money to spend.

A Dealer wouldn't pay that.
Only very specific "collectors"
I asked for top dollar (so Dealers were out of the equation for flipping)​

For my uncirc ASEs I looked at my buy-in prices, the years that offered NO Premium and sold the bulk to Provident Metals.

For my Proof ASEs and other high premium uncirc ASEs .... I've kept them.

The converse question is
Why would you *not* take the time to maximize your profitability ?

It does not matter if it is Silver, Gold or Platinum, etc. I do not differentiate my handling of any of those metals. Maximize profitability, or maybe "cash out" .. gold and silver and platinum.

 

Speculators who refuse to do their homework will always find dealers happy to sell at a high price and buy back at a low price.

I have exactly one MS70 slabbed AGE. I bought it because it was being offered slightly under melt, and I thought I had a good chance of getting slightly over melt when I sell it. It was a great plan, except that I bought it when gold spot was somewhere north of $1700. It's still pretty, and as long as I refuse to take a loss on it, I expect I'll get to admire it for quite a while longer. (A shame it takes a trip to the SDB to see it.)

 

And, thus, is the insanity of grading bullion coins.

 

Welcome to CT

 

Other than 1996* ASEs, bullion is bullion and priced accordingly - slabbed, graded, proof, super shiny, etc. doesn't really matter - as mentioned by Randy way back in post # 2, all you can expect to get for bullion is spot price - eBay buyers will pay a premium, but your listing and selling fees, shipping costs + time and effort expended will negate much of your 'profit'
* 1996 ASE had the lowest production, hence it has more value based on rarity and higher demand. It remains to be seen how much of a premium your local dealer will offer, though

 

If you are buying gold or silver eagles as a precious metals investment — you buy at this spot price and hope you will sell when the price is much higher — you are brain dead to buy proofs in the first place.

Proofs are collector coins. They come onto the market at a much higher price and if you sell them, you have to market them to collectors — not try to sell them to PMs dealers, unless your idea of fun is being skinned alive. They are not bullion investment coins, though some insist with fists clenched that they are.

Imagine two piles — to your left you have your business strike gold and silver eagles (or whatever bullion coins you like). To the right is your coin collection. If you want to buy the proof coins, they go in the RIGHT stack, not the left.

 

Perhaps you do, at least until you’re ready to grasp the FACTS that have been given to you by some knowledgeable folks and quit arguing your misinformed viewpoint. You’ll save a lot of money that way.

 

Ebay is a really terrible example to use as it costs too much to sell on and it costs too much to buy on. I know you feel you got screwed as I have felt the same way at times, it happens. Unfortunately, there's nothing that can be done about it. We all care but we can't do anything about it either. Collecting coins is called the hobby of kings for a reason. Better luck next time Alan!

 

Wow Chris, “Really” ?

 

Simple answer is that the US Mint makes business strikes for commerce. Everything else, including proofs, bullion, all the different mint marks and finishes it makes to make a profit. It does not make these things so you or I make a profit. Dealers are the middle men, so they make their money on the margins (mark ups on the selling side and discounts on the buying side). In a nutshell that is it for all the modern US Coinage and bullion...