Large Coin Dealers Putting the Hurt on Smaller Peeps!

Discussion in 'Bullion Investing' started by fretboard, Nov 19, 2020 at 6:06 PM.

  1. fretboard

    fretboard Defender of Old Coinage!

    I noticed this a couple of weeks ago. I was thinking it could be quite profitable to sell gold coins on feebay then I realized that wasn't true in some areas. Looks like it's not that profitable with the larger coin dealers in the way selling for lower prices! If you look at St. Gaudens or Gold Sovereigns seems like larger coin dealers are going for the bigger price cuts. The only safe area is selling smaller gold coins, anyone here doing well selling gold on the bay? Buying on the bay? Looking on the bay? :D
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  3. ToughCOINS

    ToughCOINS Dealer Member Moderator

    I think most of the bigger dealers are all in, buying and selling gold in volume.

    As a much smaller one-man-band, I think I'm holding my own, but it's definitely been much more competitive during this crisis. I'll also say that I've seen a lot of dealers compromise their standards for quality within the grade in order to keep their inventory stocked, not just in gold, but in all coins.
  4. GoldFinger1969

    GoldFinger1969 Well-Known Member

    I've looked and bought occasionally and I agree: it seems like alot of the bigger dealers will sell at-cost or close to it to get you on their mailing/call lists.
  5. mynamespat

    mynamespat Missing Hugs and Handshakes

  6. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Same thing with the restaurant industry...the mom-and-pops are dropping bigtime, but the big chains can cut costs, float equity or debt, and live to play in 2021 or 2022.
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