Hi there, I'm considering selling some Maple Leaf Gold Coins (.9999 pure) and went to a dealer about it. I think gold is around CDN$532 an ounce this week, and so he was offering CDN$520 to buy Maple Leafs, and CDN$510 for Rands. I read elsewhere that they have a bit more value than straight bullion price and that I might be able to get more for each coin - that this is more the kind of price I might get for bars instead. I was wondering if you folks might know or not. I also have some 1/10 ounce and 1/20th ounce Maple leafs. I see that on eBay they are selling for a fair bit more than bullion but he was only offering CDN$2-3 more per coin. I know he has to make a profit too, so what would be fair here? Thanks for your help. Much appreciated...
Howdy Flying Joe - Welcome to the Forum !! To a dealer the maple leafs are the same as bullion. So if he is offering you a few bucks more than spot price, I'd say that's about all you can expect. The dealer will want to make at least 10% profit - do the math. You can get a bit more on ebay yes, but after you go through the trouble of setting up the auction and pay the ebay fees - you may as well sell to the dealer.
Welcome to the forum Joe. Whatever you may have read in an ad for someone touting investments in gold, gold bullion is gold bullion is gold bullion. The vast majority of bullion coins carry little or no retail premium over their melt value, and dealers pay a little under melt. The exceptions are generally low mintage coins that are collectible as coins. Your dealer's prices sound fair to me.
Thanks for the quick replies! I was fully expecting for the dealer to have his margin, but from reading some websites selling gold bars and coins, it seemed to imply that there was more room than these offered prices imply. I agree that I wouldn't want to bother with eBay, but the prices I'm seeing there with s/h on top of it, implies that these prices are around $10 an ounce less than a dealer could offer, I think. But I'll go with your experience on this. Thanks very much folks!
