Does brand name matter for bullion?

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

  1. medoraman

    medoraman Supporter! Supporter

    We have had problems in the past. I remember @Garlicus I believed lost some money. That is why Doug posted his warning on that section.

    Having said that, usually payment sent then coins mailed. Maybe PayPal merchant payment would give the buyer a little protection.

    Having said that, I have spent thousands here with all good results.
     
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  3. Garlicus

    Garlicus Debt is dumb, cash is king.

    Yep, $115 to @goldcollector who apparently is no longer an actively posting member, thankfully.

    I made a purchase from someone about 6 months ago with no issue.
     
  4. manny9655

    manny9655 Well-Known Member

    I once went into an LCS near where I used to work just to buy some junk silver. The guy wanted to see my ID and he made a copy of it, he said he does that to everyone. That was the last time I went into his place. Unless I'm buying or selling high end stuff, my address and other personal info are none of his damned business. I wonder if he does that to kids who go in to buy baseball cards.
     
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  5. medoraman

    medoraman Supporter! Supporter

    My local dealers who I spend quite a bit with know me, but have never asked to see an id. There is no way I would EVER produce an ID in relation to buying coins. They simply have no need of that information for any reason. I sure as heck do not want "proof" I am a pm buyer just laying around random coin shops.

    You are better than me @manny9655, I would have never considered showing it to him, let alone letting him copy it. I would have told him just how I felt about that, informed him I would never do it, then spent the next 20 years telling every coin club, coin collector, other local dealers, etc what he does.
     
    Gam3rBlake likes this.
  6. Gam3rBlake

    Gam3rBlake Well-Known Member

    What about selling?

    When I went to Carson City Nevada I went to the coin shop there and I sold them a 1 oz American Gold Eagle (so I could get some cash to buy my 1799 Draped Bust Dollar) and they made me provide ID.

    They told me it was the law and is meant to ensure stolen items aren’t brought in.
     
  7. Gam3rBlake

    Gam3rBlake Well-Known Member

    From what I’ve seen he’s been in business for quite a while.

    I’m just wondering if maybe he’s gotten lucky and has a lot of customers who don’t know any better and who sell to him at lowball prices.
     
  8. rte

    rte Well-Known Member

    I understand the seller showing ID.
    Hell I have to show ID fingerprint and license plate number when I turn in my trash bag of crushed aluminum cans every 4 months or so...even have to turn to the camera system and hope my picture matches.
    Lol. Crazy times for $8.50.
     
    medoraman likes this.
  9. fretboard

    fretboard Defender of Old Coinage!

    Yes, that could happen but it's never happened to me, if you're patient and careful you should be fine. I just started selling on this forum again after around 5 years off. I like selling on CT because someone is always looking for a good deal and it don't take long to get few good references at all. :D
     
  10. medoraman

    medoraman Supporter! Supporter

    Lots of sellers are one time sellers. Their dad dies and they simply liquidate the coins. They don't know any better, and accept what the dealer pays. That is how those dealers stay in business.

    One of the oldest sayings in coins is you do not make the profit when you sell high, you make it when you buy low. Most of the profit is buying cheaply, because the coin is worth what it is worth, any number of knowledgeable collectors will pay that for it.

    Not saying I am happy about these things, but it is what it is.
     
  11. Rono

    Rono Senior Member

    Howdy,

    First, with regard to the question, does brand matter? Of course it matters. It revolves around fungibility and results in premium variances. Top shelf liquor is better than well booze. Same/same for bullion.

    Fungibility is the ability to buy and sell readily. An ASE or AGE, you can practically sell at McDonalds. Take a silver round minted by Billy Bob's Mint and Whorehouse and you might have a tough time selling it anywhere. The premium variations can be sizeable. That is something you really need to consider when you're stacking bullion over time. Sometimes, you want to minimize the premium and sometimes not. It depends on how and why you're stacking.

    As for premium variations check this price list from my local dealer. Please note that I've been a customer for almost 50 years and consider myself fortunate to have a nearby dealer I can trust.
    libertys-outlook-newsletter-april-2021-current-offers.pdf (libertycoinservice.com)

    and so it goes,

    peace and keeping wearing the damn mask

    rono
     
  12. FryDaddyJr

    FryDaddyJr Junior Member


    Fairfield's in FT Wayne is a lot cheaper on their 1933 gold
     
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