Does brand name matter for bullion?

Discussion in 'Bullion Investing' started by Gam3rBlake, Mar 29, 2021.

  1. medoraman

    medoraman Supporter! Supporter

    That sounds a little off. depends on the dealer. Can he flip this for quick cash, or will he have to sit on it. If its not going to move in 24 hours he is taking a risk gold could go down. If you went to a dealer that moves a lot of this stuff you should get a better price. If you were within driving distance of me I would offer you more than that. Its my favorite gold design. Sure I have some, but always room for more.

    Short of that, go to a coin show and show it around to dealers with similar pieces and the bullion dealers. Let them make you an offer and sell to the highest one. The lesson, though, is just because dealers are CHARGING a high premium does not mean they are BUYING at similar premiums. That is why I am not a fan of big premiums. Most of the time its simply "additional dealer profit" like they put on hot model new cars.
    Gam3rBlake likes this.
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  3. fretboard

    fretboard Defender of Old Coinage!

    You're absolutely right for walking out! That said, he don't know you from the crack head down the street so that's why he's that way, he's a tight a$$. :D I stay far away from buyers like that as they're not worth my time. I may buy from them, but I would never sell to someone like that, not ever!! :cigar:
    Gam3rBlake likes this.
  4. Gam3rBlake

    Gam3rBlake Supporter! Supporter

    Yeah but why does he have to know me?

    He can see that my coin is in a PCGS holder and it’s real so does it matter who is selling it to him?

    This is the exact coin I offered him.

  5. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Iam all for the cool factor :) and that almost
    always brings a big premium on the buyers
    side bit when you try to sell it can be very
    difficult to recover that premium.

    The market tends to be smaller, hence harder
    to recover the premium.
    Gam3rBlake likes this.
  6. fretboard

    fretboard Defender of Old Coinage!

    Not at all, the guy is gonna try to cheat anyone he can! My point is he doesn't care who you are or what you're selling he's a tight sob and if he can ripoff someone, he will! :happy: Nice coin!
    Gam3rBlake likes this.
  7. Gam3rBlake

    Gam3rBlake Supporter! Supporter

    But how do you know if you don’t know him?

    I just don’t understand how that coin can be worth less than the gold it’s made of when it’s in MS condition.
  8. Gam3rBlake

    Gam3rBlake Supporter! Supporter

    Just curious how much would you offer for the coin? Just so I know what a fair offer is.

    I made a mistake on the original post. It’s not an NGC holder it’s a PCGS holder but I don’t think that makes much difference does it?

  9. fretboard

    fretboard Defender of Old Coinage!

    You didn't know but you surely know now! :D There's an LCS around 2 miles away from me, I've been in there around 3 times only just to see what he was selling. He has a reputation of ripping people off, so I just stay away. I'm sure every City has at least one ripoff and maybe more! ;)
    Gam3rBlake likes this.
  10. medoraman

    medoraman Supporter! Supporter

    I used to carry around a coin just to ask what they would pay. I thought it told me something about them. Then I realized, since I do not sell, why do I care what they pay. That is their business, time and place utility, etc. I just do not care personally. My local dealer when he has stuff he does not know what it is has me come in. I tell him what I would pay, and let me know if he gets them. He knows I am good for my word, and will come in the next day with cash if he gets them. Its none of my business what he pays, but since he has a guaranteed sale I am sure its more than what he would pay otherwise.

    Just like buying, you need to shop around when selling. I always advocate selling to those who specialize in what you are selling. They are usually in the best position to give you the most.

    Regarding where I think the coin is OP, I would think 1200-1300 is where I would be looking, full retail probably higher, but a dealer would be back of that. Depends on the coin. I agree below melt was really low.
    fretboard and Gam3rBlake like this.
  11. rte

    rte Well-Known Member

    $862 is melt. Add $30 for the plastic.
    Considering the dealer has to mark it up...30%? $900/$1000 buying wouldn't be too out of line?
    If the Indians are anything like that saint gaudens or $20 gold dollar in ms63?
    Those were selling just a little over melt.

    Looks like the sold $10 gold on the bay are $1300/$1400 ish range.
    Last edited: Apr 16, 2021
    Gam3rBlake likes this.
  12. Gam3rBlake

    Gam3rBlake Supporter! Supporter

    Yeah the dealer only offered me $800 for it which is less than melt!

    From what I’ve heard the $2.50, $5 and $10 Indian Head gold coins have a higher premium than the St. Gaudens or Liberty Head gold coins.

    Apparently there is a higher demand for them since a lot of people like the designs better than the Liberty Head gold coins. However there is no $20 Indian Head gold coin.
    Last edited: Apr 17, 2021
  13. Gam3rBlake

    Gam3rBlake Supporter! Supporter

    So I guess I made the right choice by refusing his $800 offer?

    I tried to haggle with him but he wasn’t having any of that.

    I thought maybe he just made a low offer and that he would haggle to a more reasonable offer like some dealers do.
  14. Gam3rBlake

    Gam3rBlake Supporter! Supporter

    I should also mention he offered me $300 for this one even though it’s only 1/4 as much gold and is MS61 compared to MS63.

    Both are common dates so those don’t matter.

    I didn’t sell him this one though since I was looking to sell them both for $1300.

    At the time Gold was $1970/oz and combined both coins are about 0.6 oz of gold so I was asking for melt + $100 for both combined.

    Now I figure I’ll just keep them.

    I don’t really need the money but I wanted to buy a different coin but I’ve already started saving for it so I will just keep my coins.

  15. fretboard

    fretboard Defender of Old Coinage!

    Absolutely, shop around when you're selling and don't take a lowball offer personally as you'll get a better price. Patience is the key when buying or selling! ;)
    Gam3rBlake likes this.
  16. rte

    rte Well-Known Member

    It helps to not sell to a dealer, but rather to someone who might be the end user (ie collector)
    I bought a nice 1899 $5 coronet head gold piece on ebay for $400.
    I Got $60 back in ebaybucks during one of their promotion periods.
    One of the guys at the coin meeting was interested in it and I told him when he gets serious about it I'd sell it to him for the $400 I paid.
    A couple months later gold went up, he had his money saved up so I sold it to him.
    Everyone was happy and I managed $60 for my effort.

    There is always the classifieds section here on the forum.
  17. fretboard

    fretboard Defender of Old Coinage!

    Absolutely I agree! This is one of my favorite coin forums to sell on! :D I've had really good success on this forum and met some good friends who were happy with their purchases as well! Win, win for me and the buyers! tmoney - Copy.gif
  18. Gam3rBlake

    Gam3rBlake Supporter! Supporter

    Is it safe to sell here on the forums though?

    Like what if I send someone something and they don’t pay?

    Or what if someone pays for something and it isn’t sent to them?
  19. rte

    rte Well-Known Member

    I've never had an issue buying from anyone from this site.
  20. slackaction1

    slackaction1 Supporter! Supporter

    Gam3rBlake I have bought on here and my experienced was awesome very trustworthy for me. I SENT MONEY THEY SENT COINS never a problem here for me and for the most part these guyz bend over backawards to help as long as your not a jerk about it. I would rather buy here than on the bay or on some other sites.. Happy Sunday !!!!!!!! shinny side up highball.
    Gam3rBlake likes this.
  21. manny9655

    manny9655 Well-Known Member

    @Gam3rBlake Your experience makes me wonder, how long has that dealer been in business? If he keeps lowballing people like you, who know better, he won't be in business very much longer. Especially since he would not negotiate. If I were you, I'd never go into that guy's shop again.
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