Selling Physical Gold

[lxskllr]

I'm short on money, but I have a bunch of US proof sets of coins. I have a crap load of silver, a fair amount of gold, and maybe 1 platinum. I haven't looked at them in awhile, so I'm not sure.

Do any of you know the best place to sell these? Is it as obvious as a coin dealer, or is there a better place? I'm also wondering how much they're worth. When you sell physical gold, does it go for the daily market value, or is the price adjusted somehow?

 

[SSSnail]

Take them to a reputable jeweler, whatever you do don't go to a pawn shop. Typically they're worth their weight based on whatever their values are at market price. You may get lucky and sell for more than what they're worth depends on what the coins represent, era, conditions, rarity, etc...

At the very least, they should worth their weight, look up the market values for them, the jeweler may take some commissions.

 

[lxskllr]

Yea, a pawn shop's definitely out. I'll buy from them, but never sell. Years ago I took a Remington 870 shotgun in to pawn. I figured I don't really shoot anymore, I might as well get some money for it. The amount he offered(I don't remember anymore) was insulting. The gun was in mint condition, and I broke it down and completely cleaned it every time it was shot. I would have cut it up with a torch and thrown it out before I accepted his offer :^S I still have it in the closet. Maybe I'll get back into hunting one day.

 

[BoomerD]

cash4gold.com...duh

Those pricks pay some terribly low rate. about half (or less) of the gold's actual market value.

Coins and such...check a local coin store. Post ads on coin collector websites, etc...or offer on Craigslist to meet in a dark alley for the transaction.

 

[zerocool84]

Originally posted by: BoomerD
cash4gold.com...duh

Those pricks pay some terribly low rate. about half (or less) of the gold's actual market value.

Coins and such...check a local coin store. Post ads on coin collector websites, etc...or offer on Craigslist to meet in a dark alley for the transaction.

On the radio today I heard they would pay $7500.00 for the Stanley Cup!!!

 

[nakedfrog]

Well, from the news segment I saw, pawn shops actually offered pretty close to what their appraiser had valued the gold at. Obviously YMMV when it comes to pawn shops

 

[guyver01]

Originally posted by: lxskllr
I have a bunch of US proof sets of coins.

If it's all coins... try a coin shop.. they might be better than the jeweler pricing, if they're rare coins..

 

[lxskllr]

Originally posted by: guyver01

Originally posted by: lxskllr
I have a bunch of US proof sets of coins.

If it's all coins... try a coin shop.. they might be better than the jeweler pricing, if they're rare coins..

I don't think they're particularly rare. They were all bought in the 80s-90s. I imagine all the value's in the metal weight. What I really need to do is get them out, and see exactly what I have. They're all encapsulated in plastic, and have certificates from the mint. My father gave them to me as xmas presents, but they aren't really worth that much sentimentally to me.

I have a complete set of baseball cards from the 30s that he saved when he was a kid. The last time they were appraised they were estimated to be worth $12,000. They aren't for sale at any price though. They have too much sentimental value for me.

 

[Corporate Thug]

Go to a local jewelry convention/shop. They are almost always buying.

 

[quakefiend420]

if you're serious about selling the gold and silver for metal value only, and if you're willing to work a deal under spot price(don't worry, i'm not going to lowball you at 65% or spot o something ridiculous like that) pm me, we may be able to work something out

 

[nanette1985]

Ask around among your friends until you find someone who knows about this business. It is largely a rip-off. And definitely get more than one estimate - don't just go to the local coin or jewelry shop. Go to several places.

For your coin sets, check the prices on ebay and other online places. That way you have an idea of what they're worth. I recently sold a bunch of proof sets myself, I got about three-fourths of the ebay rate. From a coin place recommended by a friend. The cash-for-gold-type place that advertises big around here offered about half of that. Beware of anywhere that says in their advertising "bring this ad for an extra 5 per cent".

 

[PlasmaBomb]

Originally posted by: zerocool84

Originally posted by: BoomerD
cash4gold.com...duh

Those pricks pay some terribly low rate. about half (or less) of the gold's actual market value.

Coins and such...check a local coin store. Post ads on coin collector websites, etc...or offer on Craigslist to meet in a dark alley for the transaction.

On the radio today I heard they would pay $7500.00 for the Stanley Cup!!!

The current Stanley Cup, topped with a copy of the original bowl, is made of silver and nickel alloy

I don't think the materials would even be worth $7500, it's value is due to what it is and what it represents.

 

[FelixDeCat]

I sold a 2004 Silver Eagle the other day to a coin dealer. All they would offer was the metal price of $15 (it was 15.30 rounded down). I took it and ran as silver is dropping like a rock. I think I paid $17 for it anyway several years ago and have polished it and carried it around when I wanted to mess with an ounce of silver.

I just got tired of looking at it so I sold it.

 

[alkemyst]

Pawn shops can be perfect places.

Gold has a set value per ounce/gram/etc. Look that up and find out who is paying the most.

Not all gold is equal. Unless you actually weigh it you will have no idea. Most of the 'consumer' jewelery is hollow as well.

 

[alkemyst]

Originally posted by: lxskllr
Yea, a pawn shop's definitely out. I'll buy from them, but never sell. Years ago I took a Remington 870 shotgun in to pawn. I figured I don't really shoot anymore, I might as well get some money for it. The amount he offered(I don't remember anymore) was insulting. The gun was in mint condition, and I broke it down and completely cleaned it every time it was shot. I would have cut it up with a torch and thrown it out before I accepted his offer :^S I still have it in the closet. Maybe I'll get back into hunting one day.

so one of the best shotguns you owned and planned on heading to a pawn shop first?

gold is a lot different than items. Unless you are pawning it with intent to 'buy' it back.

 

[lxskllr]

Originally posted by: quakefiend420
if you're serious about selling the gold and silver for metal value only, and if you're willing to work a deal under spot price(don't worry, i'm not going to lowball you at 65% or spot o something ridiculous like that) pm me, we may be able to work something out

I may take you up on that. I need to see what I have, and do some research online. I was never that interested in them, so I didn't pay that close attention :^D

I have some old Morgan dollars that my father collected over the years. They're all circulated currency, and aren't worth much more than face value. I wouldn't sell them even if they were valuable because they were hand collected.

 

[zinfamous]

Craig's List. be sure to meet in a public parking place.

 

[FelixDeCat]

Im not in the market right now, but coins are fun to collect. You might also consider listing some in FS/T. :beer:

 

[lxskllr]

Originally posted by: FelixDeKat
Im not in the market right now, but coins are fun to collect. You might also consider listing some in FS/T. :beer:

I like them just for the interest value. I collect old, and foreign coins. I keep foreign coins I sometimes get in my change, and when I do business with people overseas I ask for some of their coins to be packaged also. It's fun to let your imagination run, and ponder over who's hands a buffalo nickle may may passed :^)

 

[JeffreyLebowski]

Originally posted by: BoomerD
cash4gold.com...duh

Those pricks pay some terribly low rate. about half (or less) of the gold's actual market value.

Coins and such...check a local coin store. Post ads on coin collector websites, etc...or offer on Craigslist to meet in a dark alley for the transaction.

At least he can bring the shotgun to the meeting.