Selling Gold 

Great topic! Also consider that "you" might not intend to ever sell, but your loved ones just might after your gone! Make it easier for them and help them get maximum profits by leaving them a highly liquid coin.

For collectors like me, it's tough to think about selling gold. But, liquidity is certainly important if you need to sell fast as you mentioned.

A couple small things about this most of which i agree with. The LMU was not a standard currency it was a standard gold weight in the currency or coinage of the day 5.8 grams. There were lots of different countries that had different coins but they all had 5.8 grams of gold so if you traded your roosters for Swiss francs or Italian Lira you got the same value in gold thus stopping the worries of traders trading into different coinage around Europe. Also and I know I have commented like this before it depends on where you live. In Europe those LMU coins are traded just like Eagles for yourself and Maples for myself. I also Agree that everyone should try selling just once to see how it feels you might be surprised what you learn. I know i have learned way more selling than buying in both metals. More useful information as usual great vid. PS I always hang around to the end

Yes in deed, I like your advice, I already ran into a couple of issues w/ trying to use Goldbacks.

1:14 This guy gets it. Flip that Maple over so you can see the pretty side.

You never hear about selling gold coins. If paid 20% over premium and sell at spot you lose big time. My experience in UK was I was paid by cheque, so back into the banking system.

Knowledge is power! Thanks

stopping by to show some love thanks for your education!!

I sold 8.6 oz yesterday and I got spot on a few the 100 corona was like 60$ back and a 20 dollar liberty was like 50 back. Funny thing is he would Payme 75¢ over spot for silver if I sold him 1000 oz. I didn't go for it.

Not boring!

Always gotta have an exit strategy! How about Small gold bars? Easier to sell than those LMU’s? 🤔

thank you so much for sharing your experience.

Great video

Can I get client to buy gold ?

The LAST place you want to sell your Gold to is a local coin shop..They are in the business of flipping coins, so of course the are only going to pay you the LEAST they can get you to accept. Gold is Gold..start by taking it to a high end Jewelry shop that makes their own stuff..they will never give you a penny less than spot..they have to buy gold too, and are looking to avoid premiums.They are going to melt them of course ( you should also never expect more than spot ) if you want to see your gold stay in its current form then Online bullion dealers pay sometimes more than spot..JM Bullion is pretty good at that ,but you have to wait a week or so to get your money...just like timing your buys, you have to time your sells..if you have an emergency then your SOL..just like when you need to sell anything in a hurry..the wolves will prey

im shopping for gold and im seeing all these cool coins with either cool history or a bad ass picture on it, and I have to keep reminding myself this is for pure money so just buy the popular coins that sell lol, However, I do plan on having a child in 2024 the year of the dragon and I will get that gold coin with that day comes, and it will be a son,

You love all those channels, but no love for CoRn videos. I'm sad.

This will sound harsh and make me sound like a jerk maybe, but I think some folks are naive to think they will never have to sell (I used to be one myself). I swore I'd never sell anything, ever. I was going to wait for it all to break out and go to the moon! Well, unfortunately, life happened and I found myself unable to work for awhile, due to an injury. Long story short, I'm glad I had gold and silver that people wanted, instead of "happy birthday" silver bars and the like. It got me through my down time and the last thing I needed at the time was the hassle of trying to sell stuff people didn't want, or stuff they'd only buy, at a loss to me. Just found your channel and have been enjoying several videos each evening. You have an interesting, yet logical, common sense approach to gold and I can appreciate that. Thanks for the videos.

I don't normally talk about selling gold because I don't want to 😂🤣

I've sold twice. The first time I sold was to LCS and got 70% spot. They required my complete life history and documentation. I was desperate. The second time, still desperate, I sold to a local jeweler that supplied the dentists in my area with gold for dental procedures. He was a very nice old man that recently passed away. He gave me 100% spot with no questions asked.

Moral of the story, Gold is not always Gold. US/Canada Bullion, is what you should have as the Bulk of your stack in N. America

Selling gold? Blasphemy!

Selling and having an exit strategy is something everyone in PM's should seriously consider and plan for. Until you try to sell, you have not chalked up the full experience of what it is to be a stacker. Only then will you know how to fully plan your purchases and your reasons for that particular purchase. Never sold any of my gold but started selling silver recently. Good luck to all stackers. Great vid.

You are absolutely correct. The “Gold is Gold”, and “Silver is Silver”, is a bunch of bullshit. Dealers want one of three things...American Gold Eagles, Gold Buffaloes, American Silver Eagles, and now-mint generics. All things that are easy to resell for a quick profit. They’ll buy your junk silver, and Morgans & Peace Dollars, but for very low cost (most of the time), so they can offer them cheaply.

This was very informative as I’m just getting started w gold. Thank you.

Great to hear from someone who has experienced both selling small amounts and larger amounts. I think your super smart being so disciplined with your eagles

Why would you care about premium? Don't you care about the buy/sell premium ratio? These videos make no sense to me.

Starting to realise how lucky I am to live in Perth and have the Perth mint right around the corner, they never say no and the price is always public.

Yes, far easier to sell popular design formats to coin dealers who will be looking to re-sell them over the counter. But that doesn't mean that your percentage spread between buying premium and selling discount on the various options is any different. Now you know that you probably could have (should have) bought those roosters at about spot. You didn't know that when the dealer sold them to you; and he certainly had no desire to tell you. Anyway, your ultimate goal is to make a profit -in real dollar terms - on the holding of gold over time. If you think this is valid strategy, then you should expect the price increase to be substantial enough to make your premiums irrelevant. If you're just short term trading on $200 moves, then you're a fool.

I've never sold to an LCS, I've personally found most LCS to be ran by greedy old men whom have disdain for non numismatic stackers. I've sold plenty to online dealers. Did those same jerks who paid you less than melt for your rooster sell them at a 5% premium to spot? That sounds like a classic LCD move. Lol

my local LCS wasnt interested in my Generic fractional bars (pamp, valcambi, etc.) been stacking eagles since

Selling is the #1 thing people need to be thinking about when buying. What's the point of having something "valuable" that can't be turned into cash?

Went in today to an lcs near home. They had gold eagles listed at 5 to 10 percent over spot. They offered me what amounted to 8% back of melt for a one ounce bu gold eagle. Hah.🤣 Not happening thats the Last time i visit them ( and ive bought from them before). Not all lcs will make a relationship worth your while. That is effectively a 16 percent buy/sell spread.🤯

All of this is really good info, but most stackers believe that it is the inherent price appreciation of the underlying metal that will propel the value of the coin/bar over time. In this respect getting close to spot for an exotic Perth Mint or interesting Royal Mint coin will be justified given the meaningful increase in the price of the silver or gold within. Some premiums are just not worth it, no doubt, but do you really want to stack the same two designs for the next 30 years? I think you are taking the fun out of collecting bullion coins when you are so focused on being able to get a handful of dollars over spot on a sale, especially when that eventual sale price may bring with it a likely 100% or 200% increase in the price of the metal. Heck silver increased 50% in just 16 trading days from mid July to early August this year. I say buy what you like and allow time to take care of the rest. If all you want are eagles then you might as well only buy the same black shirt and the same pair of jeans and do the exact same thing every weekend evening too. Boring!

I SAY BUY ONLY EAGLES AND BUFFALO'S BUT THE MOST OF MY GOLD IS LIBERTADS 🧐

I hear your pain i was in a bind and had to sell an eagle and one of my local coin shops told me the best he would do is 3% below spot and went on to say people are funny about there gold eagles and went on to say (why would i buy your coin for that price when it could be worth less the next day ) now i should put that coin shop on blast but im not but what a mentality for a man thats been in buisness for over 30 years . isnt that what metals do go up & down. Talk about supporting your local coin shops. fuck that !

The American market must be very strange, I live in the UK and any gold is very easy to sell, however I always avoid high premium gold.

Someone commented elsewhere that he avoids having money in the bank by redeeming his gold through a gold exchange. He has the proceeds loaded onto a prepaid card. Any idea how he does this?

Do you feel that Buffalos would be just as easy to sell as Eagle?

That’s why gold jewelry 18k and 24k is better than coins because you can either find a buyer or get the scrap Value your not stuck with just finding a buyer

Great post. Your right. My favorite part of stacking is the fact Im not blowing it on junk . Great way to save

I’f you bought a 1oz gold coin in 2001 for $500 can you sell that back in 2022 and make 1800?

Wow, 2 is 1, thank you so much for the kind words and shoutout. PEW PEW buddy.

Thanks 😊👍 Your experience as an American selling inside the states? But do U know of ease of selling outside of the states excluding Eagles & Buffalos?

Is it better to sell to your local coin shop or someplace like Ampex, which is where I buy my gold

watched the whole thing ! Anytime I buy I I think of the exit first lol Thats why I only have eagles lol

This is the most useful video on buying gold that I've watched so far. I have a lot to consider, and Im glad that I came across your channel before buying too much. I think that it makes sense to want to buy a bunch of unique coins that stand out, but if Im going to do that in the future, Im going to make sure it's something that I want to keep for myself because I personally like it. In fact, I think that Im getting into the mentality of collecting more so than stacking.

I guess I am very fortunate. My primary LCS will buy large amounts of metals. I have sold 6 ounce of gold to him at one time, and I am aware of them buying 20 ounces at a single purchase. They say they will buy any amount someone brings in. (They also say if you are selling a very large amount and want cash, you need to give them 48 hours notice to bring in the paper money. They will write a company check on the spot though, so you don't have to wait if the customer prefers. - Not sure what they consider a "very large amount", but I'm guessing more than 30 ounces, since I know they have bought 25 ounces before) - I also sold them about 500oz of silver back when it went over $18, and they didn't blink at all.... Of course, they only pay spot on most, but they will add an extra 4%-5% for ASE and AGE coins. (depending on their inventory I think) I have only sold gold once, and that was earlier this year. I sold that 6 ounces to cover the cash shortage I had when I bought the wife her new car. (Did not want a payment) Looking back on it, I think that was a mistake though....I could have taken a zero interest loan on the shortage, and kept my 6 ounces....Perhaps prices would have gone up more over say a 36 month loan, and I could have replaced the money I would spend on the monthly payments with the higher price of gold three years from now. (thereby decreasing the actual amount I had to spend in cash in the long run) - If I could get in the way-back machine, I think that is what I would do.... I have recently decided to stick with American Gold Eagles exclusively....I am working towards filling a mint tube of the 1/10oz AGE's (50 coins for 5oz) and that will be all the fractional I will buy. (I recently traded all my other fractional gold for 1oz coins and besides finishing off the 1/10oz tube, the 1oz AGE coins is all I will ever buy for stacking going forward. - I would buy the occasional other random coin as a beauty/keepsake items, but they would not be counted towards my primary stacking..... Cheers...

Thank you. Seriuosly. I have been buying some Coin Coins since 2014. While I have never sold any yet I have always woudered how and what mugt happen on that day I do try and sell. This was helpful. All my gold is in .five nines Maple Leafs as I beleive that is such a beautiful coin. I hope it is sellable when that day come!

Thank you for info.. i'm new and trying to reduce my learning curve as much as I can and your take and experience are invaluable.

Video was not boring. Very informative. Thanks 👍

my friend you are underrating you video but infect it is so educational in a way that it makes you think before you buy and to not just buy with emotions.like for me i need to focus more in buying Krugerrand because i am in south africa ,it would be easy to sell when the time comes.very nice video thanks

Selling gold is fun. You get more selling online though. Local dealers where trying to give me under spot.

Not a boring video at all! I only have maples because, at the time, the Canadian government was staffed by more responsible patriots than in the US. That evened out in a hurry. Still, I think maples are sound because of the purity, and should sell easily. Thanks for the wake-up call though, as we need to know our options.

Hello and thank you sharing your experience! Do you have any experience with refineries by chance? Or know about someone else who does? Which refinery do you use, recommend? I've used ARA but they have scammed me 3 separate times now. I've considered refining myself and then attempting to sell on ebay (something I haven't done yet).

Now I don't know what I'm going to do. Thanks. Well, if I ever do sell, I'll know to give it time. Thankfully I've got 20 LCS nearby. Or another option is to go to a coin show within 500 miles.

Guess it depends where you live, and how you’re doing financially. I love the buffalos. And also the 1 Oz maples, but I only buy fractional in gold eagles. If all my bills are paid for the month, and I have extra surplus, then I branch out and buy something I really like, but barely buy. But I’d love to stick with the buffalos and eagles!

Lets look at this way !! Say u have 2000 dollars in a 1oz coin and gold goes to 2500 oz and u want to buy a car that is $2500 I'm pretty sure u just bought a car or anything else u want in that price range ! Dont sell your gold buy with it !!! That is my way of thing !!!

Well done. I was thinking of making a video like this. People won't like what I have to say though about the ASE. I havent picked up ANY since the 90's. I will stick to junk, and leave the high premium silver to the "collector's Mixing in less desirable stuff with highly desirable is the way to go. You HAVE TO, or the dealers will cherry pick everything you bring them. All or NONE.👍

I think you presented an argument for buying non US coins. You said you may get back $10 on a gold eagle when selling, while paying $100 over when buying.

You did not mention online dealer buying prices

I really think of Gold as securing your savings, not so much as making profit unless the Dollar crashes or something bad like a depression comes along.

Thanks...

What about buying silver or gold bars? Is that difficult to sell by Just pure weight?

I'm assuming its probably the same for silver? Easier and higher equity with the maples and eagles?

HI 2. I WILL NOT SELL MY GOLD. EVERYTHING ELSE WOULD HAVE TO GO FIRST. *TYU*

Would it be better to sell the gold in the country that they are from, assuming you can safely bring them with you on an airplane? Taking a vacation to one of those countries may be a lot of fun to visit, but with such endeavors comes some risk of safety:)

It's not a downer man... You speak the truth. Thanks buddy for another great vid!

My friend I have one doubt indian people purchased gold in online how to sold that gold in America Market please give information about that

Yeah I stack only pre 33 gold and American gold eagles.

Be very carful there are far to many dishonest and greedy companies all waiting to take far more than they should always check out there feedback before sending your items.

Thanks for giving your selling experiences. You could have sold those sovereigns and Roosters to an on-line bullion dealer. They are more liquid there than your particular LCS that you rely on so much. American Gold Eagles make things soooo easy.....everywhere.

Whats a good selling price for gold bars? 250g or 100g Thank you

So never sell eagles under spot unless you're totally desperate?

Thanks for this video. Your experience that you shared I believe is being missed by the explosion of new buyers - at least any that plan to flip their silver. I posted a question on a growing reddit group essentially asking if some people are planning on flipping/selling when price goes up... who do they think is buying it and all of these places that ‘buy silver’ - are they really going to buy? Are they going to buy anywhere near spot? I pointed out that it is not like their local coin shop has brink trucks picking up their excess silver everyday. I kind of think those that think their going to just flip a big stack of silver ‘stuff’ they purchased in the future - it might be harder than they think. Man... - I got hammered with replies that I did not know what I was asking and all these places will buy it due to the demand etc... lots of lists of online buyers etc provided from online retailers & etc... but me... i don’t know 🤷🏻‍♂️.. i could foresee where spot price goes way up but so many people try to sell their retail silver that there ends up being more of a kind of a scrap market for retail of large negative premium for retail silver but commercial level is much higher. I have a hard time imagining that tons of silver will be purchased back by coin shops and online retailers. If price goes way up then amount of silver people can afford to buy goes down. There is likely a limit to how much silver the dealer is willing risk carrying.

Laid back is a good thing, no pressure

I sold a bunch of silver and gold in 2017 to JM Bullion. They gave me back what I considered a good amount of premiums. Mostly ASE and AGEs. Sold some more to my LCS and got ripped off. Bought Bitcoin. 😁 Now I’m getting back into gold. ASEs in particular. Was thinking about buying some sovereigns but after watching this I think I changed my mind.

I appreciate this video! For the first time ever, I need to sell some of my gold. I will be selling a Buffalo that I bought in 2018. Will sell to my LCS later this week and they said they will give me $10.00 above spot. I hate to do it, but need the funds. At least I will have made some money on the coin because of when I bought. And, selling the Buffalo only puts a small dent in my stack. I'm glad it's there for me when I need it!

How to sell without paying taxes to federal government?????

Great topic! That is why I stack vintage Pesos, being in Mexico, coin and bullion shops just scoop them up, no minimums, no hassle. There are no published price lists for any other coins such as Maples or AGEs, or European, they will buy them for the gold content at melt value, I'm afraid. Published Pesos price lists are widely published and updated through the day.

which sites you use for selling ?

Valid points. Makes me want to exchange some of my early silver buys too. Before I knew anything I’m sure the lcs saw me coming and i got some crappy plain ol rounds. I think some may have to be exchanged even for a slight hit to get more desirable and thus liquid mediums. Liquidity is definitely important cuz at the end, it’s all only worth what someone will pay right

My stack is US gold only. Yeah baby.

Any questions to ask your coin dealer b4 selling???

Found your channel recently! Great videos and content! Best regards from ECUADOR in South America!

So I may have misunderstand. Because English not very wonderful. But do you mean to say selling gold coins is very difficult and you normally won’t even get melt price? No matter the coin? This make me feel less secure as it implies we can’t retain our wealth by putting money into gold coins. Or maybe I misunderstand? Sorry for bad English hope you can help me. You make good videos.

Does one tiny scratch make a difference when selling?

Thanks for the info. I recently subscribed to your channel. My question is, based on what I've seen of your videos, would you ever or do you stack the gold bars, especially since many of us find the price of gold daunting? I did purchase 2, 2.5, and 5 gram bars as well as 1/10, 1/4, and 1/2 Eagles some 5 years ago, but now I'm retired. Anyway, do you these little bars worthwhile, or would you recommend going with the fractional Eagles or maybe the Maples?

Nooooooooooo!!!! Selling not an option. Love the gold.💰

Is it easy to sell gold coins made in Egypt in the United States?

Great video, another welcome perspective. Such a brilliant hobby.

Sorry I'm Late! You just started so I will shut up now.

2 questions... I'm guessing the liquidity for buffalos would have been equal to the eagles correct? Do jewelers have a preference for 24k for melt purposes? Thank you... Love your channel! 🙏❤️

Ok, don't sell yourself short on your advice; it is quite relevant. I started Ag stacking in mid July, but with the price on Au, there may not be another opportunity like this (spot on Au is $1795) today. I little bird told me that Ag will sky rocket very soon. Ag is $ 22.50+/-.

Where can i sell my gold at spot price

Right on Man.....

Thank you so much for keeping it 100. Everyone talks about buying but not selling. I'm just as interested in selling as buying. That's the balance. So thank you. You have earned my subscription.

I am sitting on a lot of cash right now, I want it to be liquid and safe from currency collapse because I will need it to buy a house in a year or two. I want to hedge this cash position by buying maybe 5-10K worth of gold. The thing is, I don't necessarily want to hold it forever, I just want it as insurance until I can exchange ALL the cash for real estate. It sounds like I'm going to lose money if I buy gold and sell it in a year or two to fund real estate purchases. Is this just the cost one must pay for a little financial security?

so can it be said coin shops are just as ok with maples as they are with buffalos?

I tend not to discriminate, I like coins but I'm not a collector if they come about for the right price I pick them up. I'm all about the bullion and gold. And to me Silver is silver and gold is gold. For me personally it's my hedge fund if everything takes a s***. Although I did try to get the gold eagle p75 privy mark got it into the cart. Got all the s*** filled out by the time I click the button and got past the refresh the page a hundred times it was gone. For me it was a quick flip to be able to buy more gold and silver. Needless to say I was a little aggravated