Another question for you goldbugs : LUSENET : TimeBomb 2000 (Y2000) : One Thread

After spending some time on this forum, I have decided it would be a good idea to get some gold coins while the price is low, but one thing worries me. Suppose I buy 10 oz. of gold in coins and for whatever reason I need to sell maybe five of them next month. Let's assume the price continues to rise and they're worth $450 an oz. at that time.

How do I sell these coins, particularly if I've bought them from a mail order dealer? Also, if the retail price of a one oz. coin is $450, what would be the ballpark price a dealer would pay me for one?

I'm ready to buy so please help. And thank you!!!

-- dixie rhodes (, October 04, 1999


As long as we're doing basic gold education........

Here's my question. OK, so we buy some gold and it grows in value. What then? Where do you sell it? Do you take it to a bank in a bag? How do you redeem the value of it? I know this sounds stupid but I've never been through a world wide disaster before.

-- a mom (, October 04, 1999.

-- a mom (, October 04, 1999.

You can sell them back to local coin shops, pawn shops, etc.. or sell it back to the company you bought them from. I would try they were fast and quote a sell and buy price. Good luck.

-- Bill (, October 04, 1999.


Suggest you scan through the following site:

This gives you an idea of the CURRENT buy/sell spread on coins. Just scale these to get a ballpark number. Obviously, if you want to sell you pick up the phone, call the dealer, get the price and complete the deal. You get paid after the dealer gets the coins.

This transaction only works if the telephones and postal service/UPS/FedEX are in business, which isn't a problem if you're considering sale in a month. US Postal Service is normally used for delivery (insured).

-- de (, October 04, 1999.
you can open an account gold/silver/platinum/palladium or combination, fully backed by physical. And you can take delivery, if you want (but in gold, mainly bars and odd coins -- no KR or ML left) In silver, you can get get bars and the 90% silver "junk coins" -- see their "news" and "examiner" pages.

-- A (, October 04, 1999.

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