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Best Place to Sell Gold/Silver Now...Since Bullion Diriect Nucleo Gone

Discussion in 'PM Dealer Feedback' started by eggman, Jan 5, 2017.



  1. eggman

    eggman New Member

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    I made all my large purchases of gold and silver bullion coins and bars in the 2005-2010 period.
    I used two main online sources: Bullion Direct and Tulving. Both are gone now and fortunately I did not lose anything with either even though I did store a lot at BD over time, I moved it all back to safe deposits before their closure.

    I found the Nucleo exchange to be the very best place to sell and get a good price and reliably get your money. Obviously that went away with nothing out there to replace it. I also sold to Tulving which worked well.

    My problem now, is where do I sell gold and silver at the best price with safety. My local stores do not pay the premium that Tulving and Nucleo would net. I can't even get spot on BU gold/silver in tubes.

    So which of the online dealers are drop dead reliable...not likely to file bankruptcy anytime soon. It was easy to see Bullion Direct and Tulving's problems when they went from fast shipping to very slow shipping....

    I have been off the fourm for 6 years.....great to be back.

    Also...if there is a more up to date discussion somewhere else on the web at a newer forum...where is that?

    Thanks,
    eggman
     
  2. BackwardsEngineeer

    BackwardsEngineeer If I weren't a snowflake, I'd have no luck at all Silver Miner

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    No answer.... the obvious choices are overstocked and barely offering spot. Locals are even worse in my area, tried to buy some silver rounds when spot was 16, best price was 17.3. So then I offered to sell some maples, was quoted 15.6. A 1.7 spread including the maple premium. Says to me that for now no one cares about owning and holding.....
     
  3. eggman

    eggman New Member

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    How about selling to Kitco....Paying around spot...I called around local dealers and they just will not buy quantities. They won't by 100 oz silver bars or more than 4 or 5 1 oz gold coins at a time. They pay spot or less depending.
    Gosh I hate that Nucleo is gone. It was just the greatest and it only cost 1-2% to buy/sell.
     
  4. southfork

    southfork Mother Lode Found Mother Lode

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    Large coin shows are normally a good place to sell.
     
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  5. eggman

    eggman New Member

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    I have been out of it for so long...I just looked up Northwest Territorial Mint, where I used to purchase Palladium in the 2005-2008 era.
    I was considering them as a buyer of bullion.
    They filed bankruptcy this past summer. I feel so lucky... I spent so much money at Tulving, Bullion Direct and NWT Mint and all went bankrupt
    losing lots of money for customers who did not get delivery.
    Are Kitco and APMEX any safer or more scrupulous?
     
  6. stonedywankanobe

    stonedywankanobe Gold Member Gold Chaser

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    There was a poster here who hasn't been around in a good while but I recall him selling to Apmex and he was pleasantly surprised.

    Granted he lived close enough to deliver it himself, so very safe. Seems like he had a lot of Perth stuff and received well over spot for most of it.

    Generic silver will feck you in a pinch. Ymmv but its happened to me before and maybe it depends on where you sell.

    But,

    My lcs pays 85% of spot for generic silver or gold and by generic I mean anything non U.S. Gov issue.
    It has affected how I stack over the past couple of years.

    I would like to be one of those who never has to sell an ounce, however, that simply is not my reality. Lcs pays spot for American gold and silver
    and a bit over spot for Old Ag dollars.

    Needless to say you will pay a hefty premium when buying said items from them.

    As for other pm boards none compare to Gim2 imho. Welcome back Mr.

    Also maybe try the buy and sell area here. Lots of good folks still call this place home.
     
    Last edited: Jan 6, 2017
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  7. southfork

    southfork Mother Lode Found Mother Lode

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    And then you could sell them here, but what comes first the chicken or the egg? Most are reluctant to buy from a new member.
     
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  8. eggman

    eggman New Member

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    What happened to GoldIsMoney? Why is it GoldIsMoney2?

    I think what happened besides losing the really good online dealers who buy (Tulving and Bullion Direct) is a lot of folks who want to just track gold and silver price rises use the
    Stock Exchange Traded Funds....(GLD and SLV). I do that too now. So the volume for actual trading and demand for physical is down.
    I guess I just need to find a larger local store that can buy 100 oz silver bars and monster boxes. I guess eBay is always an option. At least I get to do it from home and with Paypal you
    get your money. Sending bullion across country to an online dealer and hoping to get a check sounds more and more scary.
     
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  9. eggman

    eggman New Member

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    Does not look like much selling going on here lately.
     
  10. Howdy

    Howdy Silver Member Silver Miner

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    NWT, Tulving and Bullion Direct, all of which I have done business with safely, are proof that online dealers are high risk. Be careful using any of them.

    Those 3 dealers covered a pretty high percentage of the volume of large bullion dealers in their time. What would make others so much more trustworthy? The individual in charge......until he dies and leaves it to his crackhead kid?
     
  11. Goldhedge

    Goldhedge Modal Operator/Moderator Site Mgr Site Supporter

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    Welcome back eggman!


    Original founders decided to do "other" things.

    Scorp stepped in and kept it going.

    It's also a .com instead of .info.

    The GoldIsMoney2 is indicative of several things.

    "2" meaning the second rising of the Phoenix and a play on words. "2" meaning "too" or "also".

    Rather clever don't you think?
     
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  12. Son of Gloin

    Son of Gloin Gold Member Gold Chaser Site Supporter ++

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    FWIW, I've made four buys from Apmex since October and three out of four shipped in one day. The fourth went out in two days, because they were busy around the holidays. The stuff was all excellent and well packed. Communication was great. They gave me a discount e-coupon for being late one day on the holiday shipment, even though I wasn't concerned about the delay. I like their reliability and quality of product.
     
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  13. Montecristo

    Montecristo Silver Member Silver Miner

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    I'll second APMEX as a reliable and solid choice for selling. In my experience what they pay has always been in line with everyone else. A wire is generally sent to me the day after they receive the merchandise, which I really, really like. I've been very happy with them.
    I also like that they pretty much will buy everything, so I'm only shipping to one company. I've called other companies that may pay a buck or two more on an ounce of gold or a nickle more for an ounce of silver but they won't take everything. Mostly they want the easy to sell stuff. APMEX will take even the oddball stuff because they have such a huge customer base they know eventually they'll sell it.


    My experience was not that positive with Nucleo exchange. I don't remember the exact amount of days, but I do remember posting on here that they kept me waiting way too long to receive payment.
     
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