I'm mainly looking to see what kind of offers should I expect if I am selling to a dealer at a coin shop for these two sets: 1992 Quincentenary of Columbus set ($5 gold, $1 silver, $1/2 clad) - 0.242 AGW, 0.77 ASW 1996 150th Smithsonian Anniversary ($5 gold, $1 silver) - 0.242 AGW, 0.77 ASW How close to melt do dealers typically pay for these? They are raw, not graded. I'm looking to sell them, and there's a dealer nearby who bought 90% halves from my in the past for 90% of melt value (if that indicates anything good or bad about this shop)... Opinions? I'd like to sell to a dealer/shop and get paid right away, I know many will suggest trying Craigslist or someone on the forums, but it's easier to just walk in somewhere and get paid without worrying about it.
Funny you should ask about these two particular sets. I was at the local B&M yesterday searching through their discount bin and someone came in wanting to sell these two sets. The dealer offered 73% of actual value, but I also must admit that I don't know if that was a good price or not as I don't collect gold.
73%??? that's a crime... anyone else have any opinions? An offer of 73% is an automatic profit to the dealer of $263, I really hope that's not typical... I was hoping for 5% under melt on the gold, and maybe 10% under melt for the silver? Reasonable? Or am I being too optimistic about dealers?
I wouldn't take anything more than 5% under spot for the gold. Any offer other than that, tell 'em to go fish......
Hopefully you have a few dealers in your area and you can compare offers. In my opinion it is better to visit them in person rather than phoning.
Unfortunately I only have 1 coin shop in my area. Is it reasonable to expect a dealer to offer me 5% under melt on gold? Or am I being hopeful?
I think you need to decide what is the minimum you would take...and then not accept any less than that. I personally wouldn't sell for less than 5% under spot...but I would also consider Craigslist and online forums to maximize profit. If you want the "quick and easy" sell...then you may have to take a little less for that convenience.
