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one-tenth oz. gold eagles

Started by Brian D,

11 posts in this topic

Coin

Coin

Posted
Posted

Shops will pull out the grey sheet , then make a big show of computing the current gold price index and their formula for buying at 60% or less or whatever weird number to make a show of mechanically configuring a price per ounce then divide that by 10 and offer you $30 each.

 

After you return from cleaning out your drawers , after hearing the ridiculous offer , they will then , further, offer to take them 'off your hands' at the said 'offered' price as a 'service' to you because , well its not exactly a complete set , is it? ...and they hope you will feel free to use the proceeds to make an in store purchase from their other nice circulated shiny freshly dipped and cleaned coins .

 

Upon returning again, from stepping out to the parking lot to hack up what is left of your lunch from hearing the second set of nonsense , you will probably think....'hey , Ebay is just a lot of work anyway and I'd hafta take pictures and then type up stuff....and these guys really look like pros ....plus there are bad buyers on Ebay that will try to reverse the charges back to Paypal by claiming that it wasn't them that used the credit card to pay , but an unauthorized teen in the house that did it and .....after paypal takes the money back from your account , of course they will keep the coins and not send them back to you ....you'd be out of a lot of money , right?

 

Soooo....just hang on to them.....they are not going to make any more of these at the Mint ( for now anyway) .....and they are bullion based ....but WAIT ! AHA ! There is also AUCTION HOUSES that can sell these for you ! Whoopee!!!

 

MAybe after the auction house sells them all together as one lot and they sell for way below market and the auction house makes a lot of money off their listing fees and final value fees , you might possibly get some of what you have in them back ! Maybe .

HMMmmm.....there has got to be yet another better way to dissolve these into liquid cash without too much loss or maybe even SOME profit ....after all , times are tough , but the coin market is not slowing down that much....hmmmmm.....maybe you could go back to the Ebay thing and set a reserve price , then ....limit bidders to those that only contact you before the end of the auction and get approved for the final bidding through some kind of pre-arranged qualifying ......or maybe get them consigned and sold through an Ebay approved third party seller with a pre-arranged fee schedule .....I dunno ...unless you can go back the the very beginning and find an honest dealer ....do not take your coins along.....ask him how he purchases gold coins , and if Third Party Graded material is something he deals with and how he would buy gold or silver and develop a purchase price first .....then as an example offer , say ' how would you purchase a 2001 10th oz graded 70 ? If you get an answer you can live with ....one that is based on both the current value of gold and what you think the TPG holder grade is worth ( the most common answer dealers in my area give about TPG holders is that they don't really care about the numbered plastic thing and it makes more work trying to get the coin out) .....then consider going home and getting the coins to sell . Only after you feel confident that you have a realistic value that you can live with , otherwise , you will need to find the market yourself if you wish to make a profit , as others will see you as a means for them to make a profit on what you have. It is a capitalistic society , man . Be prepared . Ask around , then make a choice of how you want to sell them and remain in control of the process without being taken for a ride. Dealers can't buy something that will sit in their store for a long time and sell fast enough to keep money moving in ....looking nice in a display , but with no buyers will mean no strong offers .

 

Find dealers that sell graded material for registry customers and then the plastic will take on new value . Just an example , not a spam endorsement , but try calling John Maben ( MCM - modern coin mart) . John was a former grader at NGC and went into business selling graded and raw material on the bay....and he does carry graded 10th oz coins and might be interested in making a deal for your material to fit his business model for his registry customers.....as an example . Naturally , his offer would probably not be at full retail because he must make a little something to help pay his overhead and employees , however , because that type of buyer is the type that markets top grade modern issues to a specific (registry) type of customer , you may get a better offer without the fear of loss through an Ebay transaction where Ebay doesn't give a lick about you and wouldn't back you up at all , other than sending computer generated 'form ' letter email responses to every request you make of them , even after they find a loop hole to back out of their guarantees , and you watch your money go away . Of course , you might end up with a nice profit on Ebay with the way numbskulls are bidding things up right now , but you must ensure that you take every precaution to protect yourself there as well , like calling and speaking with a very unknowledgeable Ebay telephone rep that will sound a like a part-time teenager smacking gum in between telling you how much Ebay just loves its customers like you and so on....but even though Ebay is a gamble and if your ad doesn't look like it is from a business that might be willing to spend the cash to prosecute anyone that might try to rip you off ....in other words , your ebay selling page doesn't look like something a non-computer saavy newby seller would put up , then , you might try rolling the dice there .

 

So ya see , it's hard to say what would be a good way to sell the high grade modern gold TPG stuff without doing a little thinking first.

 

I hope my dark humor hasn't freaked you , but maybe, set off a few light bulbs in the thought-bubble glands so that you can make a better decision.

 

Have you thought about setting a price and offering them on this website's 'for sell here' area....I mean it is a registry user environment where the high slab grades would be worth more than , say a local dealer that would either up-sell them to the local circuit guys that come into the shops on a weekly basis or either just for the metal content and offer scrap gold at a discount price offers.

 

Dude , I kinda went way out there.....need to lay off this coffee....uh, sorry , but good luck?

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ant

ant

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Posted

i want some of that coffee. :)

 

i would sell on ebay . if my site was updated id say mine but that will be 2 weeks :)

 

70s are a regestry collected thing. make sure when you sell to mention regestry,top pop,perfect....

 

but B&M shops are a nightmare for that kind of sale. as COIN was so nice to walk us through.

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michael

michael

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Posted

I have some tenth oz.gold eagles NGC MS 70. (98-03) what would a good asking price be to sell at the LOCAL coin shop

 

 

 

 

the current melt price plus 5 dollars

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TomB

TomB

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A local coin shop may or may not be a good venue for sale on these items, but be aware that while ebay might sound mighty attractive, you will have some issues to contend with there, too. To begin with, these are not high dollar coins, approximately $125 each, and with the policies ebay has been pushing for quite some time now, you will likely have to accept PayPal and most likely offer free shipping. The combined PayPal and ebay fees might total 7% or thereabouts and the shipping costs might be 5% if you have multiple winners. This takes about 12% of your payments away and adds the expense of time in listing, packing and mailing auctions as well as setting yourself up for possibly being scammed by a dishonest buyer.

 

Overall, I would expect you would net more by selling on ebay, but it might not be worth your time or aggravation vs. selling to a local dealer or listing them on this site.

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