Gold & Silver Coin Liquidation

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  • CrabcakesAndFootball

    Active Member
    Jun 14, 2017
    697
    A family member inherited 1 gold and 72 of the silver 2012 US Mint coins pictured below. Gold reads 1 oz fine gold with $50 face value. Silencer reads 1 oz fine silver with $1 face value. They’d like to turn them into cash. I figured I’d post here to help them out because folks on the forum know all types of things.

    Can anyone recommend a buyer/amount they should expect to receive? Thanks in advance.
     

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    Last edited:

    Sundazes

    My brain hurts
    MDS Supporter
    Nov 13, 2006
    21,304
    Arkham
    It appears you have ASE's , American Silver Eagles and a Gold Eagle. They are priced by weight with a premium on top of whats called spot price. Spot price is the price of the precious metal by the ounce.
    You can look on eBay to see the what ASE's/AGEs are selling for on the open market. It changes by the minute. Last I looked silver was about 15.40 and gold was ~1300 an ounce. That is not the price a dealer will pay.
    If they want to get rid of them quick, offer them at spot. Unfortunately, they are not a large windfall.
    Are they local to the area?
    Also post clear pics..
     

    budman93

    Ultimate Member
    Mar 1, 2013
    5,267
    Frederick County
    Melt value around 2300 or thereabouts. That is what you would get from a dealer. Or pretty much anyone probably. Silver eagles from a dealer are usually spot plus about 3 dollars but on the secondary market people won't want to pay more than spot.
     

    AirCav73

    Active Member
    Mar 19, 2011
    204
    North Carolina
    I would contact Golden Eagle coin shop in Laurel. Nice people to work with and a safe environment to conduct a sale. I have never had an issue buying or selling to this business.
     

    CrabcakesAndFootball

    Active Member
    Jun 14, 2017
    697
    Thanks for the responses. The pics were terrible, but I don’t have the coins so I can’t retake them. Family member lives in Harford Co. I’ll suggest the coin shop in Laurel. I’m sure they would be thrilled to receive $2 grand for the lot. I doubt they have any interest in parting them out. Thanks again.
     

    j_h_smith

    Ultimate Member
    Jul 28, 2007
    28,516
    I live in Harford County and would love to talk to your family member about buying them. Let me know!
     

    shootin the breeze

    Missed it by that much
    Dec 22, 2012
    3,878
    Highland
    I don’t live in Harford (Howard-Columbia area) but I’ll buy them at spot and pay cash. Spot today is 2433 if I multiplied correctly. Say 2440.
     

    Hi-Torque

    Active Member
    Jan 16, 2013
    300
    Finksburg
    These are extremely common, which is nice because the value is just subject to market price +/- fees from the buyer (or shop), and there's little subjectivity to the value with reputable buyers. If you took these to a reputable coin shop, they will have a preset price for buying these coins from you. Using Frederick Coin as an example, here's their common coin pricing. Not saying they're the best, just a baseline of an established MD shop. Look at the "Buy" price, that's what they buy it from you at. The sell price is higher, because they make a fee off of the transaction when they sell a coin. https://www.frederickcoinexchange.com/precious-metals-trading/

    So they will buy silver eagles at Silver Spot, or today's price of $15.41. So 72*15.41=$1,109.52
    The current gold eagle buy price is Gold Spot - $20. So $1,313.40 -$20 = $1,293.40

    If you walked in their door tomorrow, they'd hand you $2,402.92 in cash for the lot, no haggling on either end, that's just the set price. You might even do better by shopping around. Private buyers are nice too because they could save you a long trip to a store and offer a price good for everyone, with less hassle.
     

    ras_oscar

    Ultimate Member
    Apr 23, 2014
    1,666
    As a reference point, take a look at this website:

    https://www.jmbullion.com/2012-american-silver-eagle/

    It gives you what this particular online dealer is selling that coin for at the moment. As stated above, it changes by the hour. The numbers below the blue bar at the top of the page are the current market price or " spot" price for the raw metal. If you scroll down a bit, just above the " people also viewed" boxes on the right hand side is the price that THIS retailer will buy the same product for AT THIS MOMENT if you can get one of your shops to match that price you'd be doing very well, because you avoid the cost of shipping and insurance. Good luck, and I'm sorry for your loss.
     

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