Replies

Your friend could call some of the coin stores in the larger cites, like Memphis or maybe Little Rock. Check the tax laws in TN, and AR, and the state where APMEX is located. Stores in larger cities should be more competitive and offer better prices.

Expect a check, so that has to clear and there are capital gains to consider. Discuss method of payment with the coin store, etc. Have your friend ask around, there may be a mom/pop nearby. Even if they offer a lower price, cash is nice.

I'm sorry to hear ebay has become so dangerous. Ebay was going to be one of my easy ways of selling a few silver eagles now and then; glad for the warning. FR rocks!

Concur with others to wait awhile, if able.

Coin dealers will buy and sell at the “spot price” minus a clearly stated in advance % for their commission.

Conversely, if they have coins in stock (iffy today, it’s a seller’s market), they will sell them to you at the day’s spot price, plus a couple % for their profit.

You can learn all of this on their website, or by email, or by phone, or in person.

“Numismatic” PM coins are another matter, I’m only talking about “bullion” coins.

A note: Krugerrands are 90% gold and 10% copper and silver to make them harder and more durable. However, they still contain 1 Troy ounce of pure gold. They are a little bigger than pure gold coins like Canadian Maple Leaves etc.

Coin dealers prefer to trade Krugerrands. Pure gold coins are soft, and they get marred and banged up unless handled very delicately. This means that the condition of pure gold coins varies, putting another cost / value factor into your trade.

If you are trying to sell Krugerrands, condition will be less of a factor as you discuss price.

Remember: for a legit coin dealer, the price will be totally straightforward and clear in advance. Today’s spot market value (you will agree on which exchange etc in advance) plus or minus a set % when buying or selling.

Any coin dealer who does not do business with gold and silver bullion coins this way is a FRAUD.

Numismatic coins are an entirely different ball of wax....very dangerous for amateurs to buy and sell, too many ways to be ripped off by bogus valuations up or down.

PM bullion coins are much safer to buy and sell.