Rare/Gold/Collectable Coins (2 Viewers)

[waddadonk]

I recently found a US Mint gold proof set gifted to me years ago, and I’m thinking of selling it. Does anyone have recommendations for the best places to sell rare coins or tips for getting a fair value?

I figured others here might have experience or stories worth sharing - always interesting to hear different perspectives.

Thanks in advance

 

[DrStrange]

Good luck. This space is littered with sharks looking for a sucker. Not just on the buy side but also the sell side. Ignorant people will be robbed. This isn't an occasional thing, seems like almost every metal vendor is on the hunt. Really can't tell you who can be trusted, only that trustworthy buyers are the exception rather than the rule.

Go to eBay. Look for completed transactions to get an idea of value. Look at the metal weight in the coins vs the spot price for gold. That should put a floor on the value.

Expect to give up a chunk of value due to your small lot size.

Also, the tax treatment for collectables is offensive in the USA. You'll be paying a lofty tax on your profits.

Good luck -=- DrStrange

 

[BiGGyT]

Here is the truth of mint coins, they rarely exceed the cost from the mint. However, gold is pretty high right now, and a 4 piece gold set is 1.85 troy ounces, so melt value is 1.85 x $2619.50 (current spot as I type) minted coins might bring a premium over spot, but don't assume much from a buyer of your coins. Retail is always higher, and remember eBay takes their percentage.

 

[DoubleEagle]

PM sent.