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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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To: Tommaso who wrote (63483)2/16/2009 4:04:11 PM
From: lzc  Read Replies (3) of 78419
 
I've sold some gold coins, both bullion and numismatic. First, I thought just about every city of any size had at least one coin dealer that bought and sound coins. Maybe not.

The dealer I used posted the price of gold daily on a blackboard and the percentage spread at which he'd buy or sell each popular bullion gold coin. The price was reasonable, I thought. It was simple. I was paid in cash, but the amount of each transaction was less than $2000. (Gold was cheaper then.)

The interesting part of the experience was my effort to sell some numismatic US gold coins, bought in the Middle East in the 70s. Each and every one turned out to be counterfeit. They spotted it quickly, took the time to explain why (confirmed by weight). I took the coins home and confirmed their finding (long story), and then went back and sold them for the bulk price of gold, minus a reasonable smelting fee.

If your point is that selling any significant quantity of coins might involve considerable inconvenience, I think you're right. I believe coins in small numbers can be bought and sold easily. I have about 25 oz of bullion gold coins now. Beyond that, my gold investments are in GLD, GDX, NEM, and a couple of juniors.
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