Has anyone here sold PM to Apmex, or Gainsville coins, etc?

Discussion in 'Bullion Investing' started by WoodyWW, Oct 30, 2019.

  1. WoodyWW

    WoodyWW Junior Member

    I called Apmex yesterday & got their buy prices for 3 of my gold coins: a gold $10 Indian in a Genuine slab ($709), a circ. raw $20 Lib. ($1403), & a proof 1 oz. AGE ($1461). (This was with gold @ $1486). I thought those were very strong prices, esp. the $10 Indian--that was only $10 or $15 under the coinflation gold value. Last time I took the $10 Indian to my LCS, they offered $50 under the gold value.

    The Apmex guy seemed a bit weird on the phone, but my real worry is just shipping off expensive coins to them. What if they say they didn't get one? Even if it's just a mistake? Just wondering if anyone here has experience selling to any of the mail order PM dealers. TIA.....

    PS--here are pics of the $20 Lib.--anyone have any opinions? 1907 Lib. $20 Gold Obv. #4*.JPG
    1907 Lib. $20 Gold Rev. #4*.JPG
     
    Last edited: Oct 30, 2019
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  3. Clawcoins

    Clawcoins Well-Known Member

    When I sold my Silver and Gold it was highly recommended that you ship it via registered mail.

    If I recall, at the Post Office, that registered mail has to be in brown shipping tape. I didn't know that, so I ended up just using the 2-3 day Priority and "took my chances" although with the proper level of insurance.

    I took pictures of me packaging up the coins in the material, etc.
    Though pictures doesn't prevent me from opening it back up and repackaging, etc. I guess they take your word for it, and likewise on the other end.
     
    Stevearino likes this.
  4. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    Never sold to Apmex. I Have made a number of purchases from them. My feeling is that they are about as honorable of an outfit as you can deal with. That was on the purchasing side though.
     
    Stevearino, Bobn58 and WoodyWW like this.
  5. Clawcoins

    Clawcoins Well-Known Member

    Just a FYI,
    I consider modern silver ASE, gold AGE etc (non-Proof, non-slabbed) as "stackable" stuff to hold until I sell it.

    All pre-33's, slabbed PMs I buy are strictly as an "investment" or "I think is really neat and gonna keep it".

    The "stackable" stuff I know the buy/sell routine and accept it as I plan on selling it in bulk back to the PM houses at some point.

    Slabbed stuff, Pre-33, etc I would only try to sell to an end buyer in order to maximize profit. If I sell to a PM house they'll undercut what I consider "fair value" for their "fair value" ... so it's not worth it to me. They are making an offer on a coin they do not have in hand, so if you value it numismatically more than the metal, then sell to an end buyer.

    They also have to cover the probability of PM price volatility of agreeing to buy your coins at one price, when it may be a different spot price when they actually receive them.
     
    Stevearino likes this.
  6. BSquared

    BSquared New Member

    I've sold a few gold coins to Apmex and feel they have a good system in-place. If you accept their offer, they will email you special packaging instructions along with UPS insured labels to use with a tracking number. I wouldn't have any problems doing that again.

    IIRC the cost of that label (about $25) will be deducted from the funds they send to you
     
    WoodyWW likes this.
  7. Browns Fan

    Browns Fan Active Member

    I think I would walk into my LCS, take the cash and eliminate the hassle and worry.
     
    mill rat41 and GoldFinger1969 like this.
  8. WoodyWW

    WoodyWW Junior Member

    I'm leaning that way. Like BSquared said, the shipping to Apmex is about $25, so I need to figure that into the equation. And I might just sell the circ. $10 Indian, & a common date $5 Lib. or 2, so not a huge amount of $$. And I'd rather have CIF (cash in fist)--that's worth something, to me. But good to hear from people here that Apmex is good to deal with.

    My thinking is; just sell off a couple of my gold coins with gold around $1500. Of course I have some FOMO so I don't want to sell too much in case it goes higher.....
     
  9. fiddlehead

    fiddlehead Well-Known Member

    Yes, for bullion type coins and other gold like that I have sold to Apmex many times. Very easy, quick payment. I use priority mail with reasonable insurance and haven't had a problem. Registered takes a long time but I guess it depends on the value. More than 2 or 3K I use registered.

    Much better net with Apmex than using ebay because of the fees. For collectible gold YMMV. Once you establish yourself as a responsible customer with them the process goes really fast by telephone.
     
    WoodyWW likes this.
  10. Collecting Nut

    Collecting Nut Borderline Hoarder

    Ampex is reputable but I've never sold to them, just purchased. If you have to ship the cost can take away any extra profit. It may be better to sell to a LCS and walk out with cash in hand. This eliminates any hassles and worries and you get you money sooner.

    If you must ship, use Registered Mail for expensive items. For lower priced items, ship normal mail and add Signature Confirmation or Certified Mail with a Return or Electronic Receipt. With all mail and coins, make sure they don't rattle.
     
  11. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Those are very strong prices ! i would for sure send everything in, there very
    Good people to deal with, you LCS will give you cash right away but prepared
    Most will hit you with a significant buy back and if your going to go the route
    Shop around for the best price, here in Vegas i found as low as $45 and as
    Hi as $100 ( that would be on a 1 OZ AGE )
     
  12. rte

    rte Well-Known Member

    Am I the only one reading woodies post and thinking I'd be a buyer at those prices?

    Thinking he could get a quick sale in the classifieds section here on the forum, it may not be easier or quicker then walking in a local shop....

    I have bought from Apmex with out any issues, But haven't sold anything back.

    More money in pocket from the end user usuall means more effort from the seller.
     
    GoldFinger1969 likes this.
  13. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    Apmex has a name, location, and reputation to protect. Here everyone is mainly anonymous, and well may not be who or what they proclaim themselves to be. It would be nice to B/S/T for material over $20 or so with members, but if they are not well known, there could be problems.

    There have been malfunctions in the trust area in the past and even though the site has always said it is member to member and we can't do much since no one has to give a verifiable address or information to join, in fact we say not to post it as someone may be making a Christmas list for themselves.

    Doug has inserted a post at the top of the B/S/T forums, saying 'You may get ripped off here' for good reason. Some of the guilty ones may still be on the forum. There are very honest and helpful BST members, but you must decide who they are, not the forum . We do not support rating system, but experienced members usually post when its a good deal or when it went bad. There are many on the site, I would trust with no hesitation and have dealt with them, others, have so many complaints from other members, that I would not.

    Jim
     
    imrich likes this.
  14. WoodyWW

    WoodyWW Junior Member

    I'm very wary of accepting paypal for any item over.....A few hundred $$ maybe. I think I'd be even more wary of selling gold coins & taking paypal, like on feebay (& I've sold LOT's of stuff on feebay, including coins). Plus the feebay & paypal fees total 12%.

    Meanwhile gold has gone from $1486 to $1459 since I called Apmex (& didn't sell to them, at least not yet). I'm going to try another LCS next week about 20 miles from me, & see what they offer--they have lots of great reviews on Google, FWIW.

    I'm very experienced at packing & shipping.....almost anything, really, fortunately. I once sold a $3000 set of silverware on feebay & sent it registered. I did sweat bullets for awhile, taking paypal for it, & the shipping & all. At least with Apmex, I'd know the buyer was reputable. BTW, thanks for all the suggestions.....
     
  15. myownprivy

    myownprivy Well-Known Member


    Yes, I would never accept that much money in a paypal transaction. There are too many horror stories of people's accounts being frozen with very little recourse. Conduct your banking with a BANK, nothing else.
     
  16. WoodyWW

    WoodyWW Junior Member

    "I called Apmex yesterday & got their buy prices for 3 of my gold coins: a gold $10 Indian in a Genuine slab ($709), a circ. raw $20 Lib. ($1403), & a proof 1 oz. AGE ($1461). (This was with gold @ $1486)." (10/30/19)​

    So here's how it turned out: I went to a diff. LCS yesterday, with gold @ $1466 ($20 less than when I called APMEX. They offered $689 for the $10 Indian in a Genuine slab, & $1395 for the common date raw $20 Lib. Those prices were right around $20 less for each than the Coinflation prices that day.

    I took it. I'd had both coins since the '70's, I think. I thought I might miss the $20 Lib., but the fat envelope of $100 bills is giving me a nice feeling. And finally selling the $10 Indian in a Genuine slab--makes me feel pretty good. Someone here on another thread--when I posted pics of it--described it as "an "ugly turd of a coin"--I don't think they were far wrong......
     
    slackaction1 likes this.
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