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Selling 6 figures worth of PMs & Looking for dealer(s)

Discussion in 'Purchasing Precious Metals' started by TomJerry, Aug 24, 2017.



  1. TomJerry

    TomJerry Seeker Seeker

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    Would you all trust an online dealer for this big of a sale? I've checked around (both online and local shops) and SD Bullion has by far the best buy prices, but I'm hesitant to put all my eggs in one basket. They do seem reputable from what I've seen, however.

    Perhaps the prudent thing to do would be to split my sell into, say 3 (1/3 to SD, 1/3 to JMB, 1/3 to Provident). I'm losing money that way but gaining peace of mind.

    Thoughts?
     
  2. Ebie

    Ebie Midas Member Midas Member

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    Why sell now?
     
  3. southfork

    southfork Mother Lode Found Mother Lode

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    What you said but i would try to sell to lcs or at shows and get cash, unless you want the check for real estate purchase or the like.
     
    GOLDBRIX, Hystckndle and oldgaranddad like this.
  4. Silver

    Silver Gold Member Gold Chaser

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    I've sold to APMEX and JMBullion - JMB was faster on the wire payment. I would break the sales up. No point in risking all your goods in transit at the same time. You can only insure maximum 25k per Registered Mail shipment anyway.
     
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  5. Wellsburg

    Wellsburg Silver Member Silver Miner

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    Happy to offer my opinion, need more information.

    Private mint silver, Silver Eagles, Gold Eagles, Sterling, Pandas, Kilo Bars, Platinum, 90% US Coin ? What is it ?
     
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  6. TomJerry

    TomJerry Seeker Seeker

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    It's 50k according to usps website. I would have 6 or 7 different packages.


    Gold: Krugs and Canadian Maples

    Silver: 1 oz generic rounds and 10 oz generic bars
     
  7. Silver

    Silver Gold Member Gold Chaser

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  8. oldgaranddad

    oldgaranddad Gold Member Gold Chaser Site Supporter ++

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    I concur with Southfork. $50 for a table and maybe $15 rental for the case. $65 is cheap for good information on the market albeit local. I'd set up a regional coin show for best results. A lot of the local and vest pocket dealers would/will buy from you before the show opens. Most will give you the cash or check option if you need to document the income.
     
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  9. savvydon

    savvydon Gold Member Gold Chaser

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    My experience shipping registered earlier this year was $50k insurance limit.
     
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  10. Goldhedge

    Goldhedge Modal Operator/Moderator Site Mgr Site Supporter

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    Almost worth driving them there yourself...?
     
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  11. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    To buy some bitcoin is my guess.
     
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  12. Howdy

    Howdy Silver Member Silver Miner

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    Getting a table at a coin show sounds like a good idea, at least it did before I tried it. The results were not that great. Don't even waste your time unless it's a really big show.
    The numismatic dimwits will drive you crazy wanting to look at all the dates on your junk 90%. But sometimes bullion investors will go to those shows so it can be worthwhile if you are really intent on getting a little more than dealers pay. Then you haul all your metal out there and sit and watch it wishing you could go to the bathroom.
     
  13. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

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    that would be my move..........or i think you will find that at the 6-7 digit level they will come to you......
     
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  14. Surface

    Surface Seeker Seeker

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    Frankly, I wouldn't risk driving it all at once even to the local Post Office, much less across the country for any distance. The bogus forfeiture laws guarantees you are naked for highway robbery from badge wearing bandits/thieves. The odds may be in your favor, but so were the odds for a whole lot of people who were held up and robbed by such nefarious badged bandits. I'd just break it up according to insurance limits per package, ship them insured/Registered to a dealer you trust. I don't think I've done anything with SD Bullion so can't say, I've done multiple packages at once to APMEX with no problems. If your top dollar now is with SD Bullion, and you are not facing an escrow deadline or something.... maybe try a third with them and see what happens, ...if all is good, then do the rest?
     
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  15. savvydon

    savvydon Gold Member Gold Chaser

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    That was my thought at the time as well. the individual on the other end of the transaction wanted to go the registered mail route. My sense is that if you are anywhere within 1000 miles or so of the destination and are able to drive it is worth serious consideration.
     
  16. louky

    louky Silver Member Silver Miner

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    Look at the join date, yikes
     
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  17. Wellsburg

    Wellsburg Silver Member Silver Miner

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    Gold: Krugs and Canadian Maples

    Silver: 1 oz generic rounds and 10 oz generic bars

    I subscribe to Upstate Coin's Dealer Buy Sheet. (Fayetteville, NY) to use as a reference.

    Current Buy Prices are: Gold Krugs Spot +$7. Gold Maples Spot +$4. Generic Silver 1 Ounce Rounds and 10 Ounce Bars Spot Minus 10 cents per oz.

    Guessing any large volume bullion dealer would pay close to that.

    If this were me, I would drive it to the dealer myself rather than ship it, even if four or five hours away.
     
  18. Bottom Feeder

    Bottom Feeder Hypophthalmichthys molitrix Gold Chaser Site Supporter

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    And... you have a damn good reason for bailing at this point in time?
    Six figures is a chunk of change for most of us. Me included.

    BF
     
  19. smooth

    smooth Gold Member Gold Chaser

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    Agree, I know there is a place about 30 minutes from me that gladly buys whole hoards at a fair price. I could never put that much coin in the mail.
     

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