Agreed, but my LCS made the scratched reference to the Maple Leaf only, he said AGE,s buffalos and Krugerrand’s are not affected by this but again these are the most popular for collectors.
And I'm sure he would change to one of those if he was buying one of those. Small scratches only impact the graded versions, he was just making something up to talk the price down which is slimy
What price did person expect. Nothing sold will yield listed price. Stocks have at the very least capital gains tax and perhaps commissions. Real Estate has agent commissions, taxes and government processing fees,(stamps) etc. on sale and if you selling to buy like investment then you still have to pay an agent to handle the Paperwork and transfer of money of 1031 exchanges. Gold coins and other collectibles or bullion have a middle man if you bring it to a Dealer. And the middle man is trying to make a living as well. Now the advice was sound. Some coins get higher return then others.
With that said. I like Maple Leafs. Not the best investment coin but a Beautiful coin with less spot over market price then other coins. Great for decade(s) investment.
Generally, he was expecting the same, I believe there a minus 15 on the buy back so his Maples were 30, but for the most part I just buy Krugerrand’s B/U but with that said currently on a MS 70 kick on all pop PMS got a nice proof coming in on Monday so will for sure will post a pic
I think Maples are awesome as well, but being a 24K coin it damages easily, so if your going to invest in them you must keep in pristine.
There's a difference between saying this is my standard buy sell price and saying I have to pay you less because of small scratches
I think they more of buy for its gold and hold for billion value. Krugerrands of course are known world wide and most likely more value for coin itself. Think with demographics and citizens of descent moving up economic ladder,Mexican coins should be looked at for sure. Don’t think I’m an expert by far. But try to look at stuff with common sense.
I understand what you saying but if a person tries to low blow on a real estate listing, then wait for the next buyer. Same for selling coin. If seller feels buyer is not offering good deal, then leave. and leave number. Don’t sell if you think you can get price. Nothing is personal and all good business. What I think is nasty is knockoffs or stores in Chinatown on Canal Street selling fake gold jewelry to tourists.
It's not good business to just flat out lie to someone because you think you can. Real estate is an entirely different animal in terms of what matters. Bullion is very straight forward standardized values its just for some reason coin collecting as a whole makes excuses for scummy dishonest dealers that would be considered snake oil salesman in another profession
Because gold maple leafs are 24kt, the metal is very soft and easily scratched. They also have very sharp corners on their rims. Because of the way they are packed in very tight tubes, it can be very difficult to get them out of the tubes and into individual flips without one coin damaging another. And. let's face it, people who buy them in tubes like to take them out and look at them now and then. People buying maple leafs, like another bullion coins other than maybe sovereigns and 20 franks and the like, often demand perfect coins. Thus, scratched maple leafs can be harder to sell unless you discount the price a few dollars. Therefore, when you are buying "scratchy maple leefs" you have to pay a few dollars less. The discount fluctuates with the damage. A few scratches might be $3-5 under melt. We once had a guy come into the coin shop with a cigar box with about 80-100 one ounce gold bullion coins all loose inside the box. All of the 24kt coins were horrible. All we could do with the lot was sell it to our refiner, and he paid us less than melt so I think we bought the lot at 98%.
American Eagles and KR's are 22kt and much less likely to scratch. Buffaloes are sold in mint plastic sheets you cut apart but leave the individual pieces sealed. If still in the mint plastic we buy them as perfect. If removed from mint plastic, you check the condition and pay accordingly.
Mexican gold, you will never find that even close to spot, as far as bullion goes wouldnt recommend it if your looking for a strait bullion purpose but it’s high on the cool factor that’s for sure
I like the American gold coins. I buy gold for collecting. I enjoy taking them out and looking at them, but I take every precaution I can to ensure that they will not be damaged. I only have about 6 "RAW" U.S. gold coins. I only buy my coins from the U.S. Mint, mainly, because I like the way they are packaged. However, the Mint has really lowered their standards packaging the coins. When I get my coins from the Mint, I open up their box and look at the coin(s) and packaging and leave them in the packaging. I do take the Packing Slip and I print all the documents related to the coin and I package them in sheet protectors. I keep all gold coins in a box that is secured, all other coins, etc. are put in boxes for each year with a list of all the coins that I bought for the year. I do not sell my gold coins, nor my silver coins, nor any other coins or currencies or documents. Best of luck to those that sell their gold coins. I found that from the time a gold coin is purchased, it will then sell for at leaxt 2X what was paid.
That's really not true especially for ultra moderns from the mint. There are some that have gone up particularly last year with the design change and some special sets here and there, aside from that the majority need metals to spike to gain value or be a graded 70.